Global ADAS Market – Analysis and Forecast (2021-2027), Valeo, Robert Bosch GmbH, Continental AG.


Posted December 30, 2021 by industryno1

VynZ Research is a global market intelligence company providing research reports.

 
The global ADAS market is anticipated to grow from USD 26.8 billion in 2021 to USD 72.6 billion by 2027, registering a CAGR of 11.6% during the forecast period 2021-2027.

Advanced driver assistance system is an effective and innovative technology system that gives the vehicle autonomy and helps the driver drive the vehicle safely. ADAS basically consists of subsystems and functions that work independently or in combination with each other to provide convenience and a wide range of comfort to modern car drivers, as well as safety. Furthermore, Artificial Intelligence (AI) has led to innovations in the automotive industry. Also, ADAS aids in solving the problem of traffic congestion, road accidents, and improves the safety and security of vehicles, occupants, and pedestrians. In addition, the government of various countries has made it compulsory for automotive manufacturers to integrate different ADAS in all types of vehicles and are spending an enormous amount on the usage of developed technologies, providing safety features, and supporting the use of automated vehicles globally. Thus, the rising urbanization and industrialization, increase in the standard of living, and surge in disposable income will have a positive impact on the global ADAS market.

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North America dominated the ADAS market owing to the mounting demand for safe and efficient vehicles, growing government initiatives about the safety of passengers, continuous development in autonomous driving, and rising demand for the light truck vehicles will fuel the growth of the ADAS market in the region.

The Asia Pacific is anticipated to have the fastest growth during the forecast period 2021-2027 owing to the increasing number of electric vehicles in the region. Moreover, the increased vehicle production, surge in adoption of advanced electronics in Japan, South Korea, and China results in creating opportunities in the automotive industry and taking steps to encourage OEMs to enter the domestic markets.

According to IEA, China is anticipated to be the world leader in manufacturing electric vehicles and will hold a 57% share by 2030. The increased initiatives by the government like “Made in China 2025” will propel the growth in manufacturing battery and electric vehicles, resulting in providing opportunities for ADAS manufacturers to develop advanced safety systems and expand their market presence during the forecast period.

ZF Friedrichshafen AG has a comprehensive portfolio of intelligent Advanced Driver Assistance Systems (ADAS) and offers solutions scalable to cost and functions as desired. ZF coASSIST is the cost-effective Level 2+ solution that meets Euro NCAP performance requirements and delivers Level 2+ ADAS functions like traffic jam and highway driving support with Mobileye EyeQ front camera technology.

ZF has launched a high-performance mid-range Radar to support advanced ADAS safety features and enhance the available ZF coASSIST semi-automated system on the Dongfeng Aeolus Yixuan MAX in China. ZF’s mid-range radar is a high-performance 77GHz front radar designed to meet 2022+ Euro NCAP 5-Star Safety Ratings and enable semi-automated driving functions.

Some of the key players operating in the ADAS market: Valeo, Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG, DENSO CORPORATION, Aptiv, Hyundai Mobis, Autoliv Inc., NXP Semiconductors, and Magna International Inc.

Source: VynZ Research
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Last Updated December 30, 2021