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.

The COVID-19 pandemic has had a negative impact on the ADAS market as vehicle production was less in 2020 in US and European countries, resulting in less investment in advanced technology. Thus, OEM and tier 1 Players were either using cash reserves or acquiring funds to stay in the market during the pandemic. However, the industry players are witnessing recovery in vehicle sales in 2021 and the market is anticipated to grow substantially from the second quarter of 2022.

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The increased responsiveness towards vehicle safety ratings and decreased component costs due to the extensive application of cameras and radars will fuel the ADAS market growth. Moreover, the increased demand for safety features, comfort while driving, mandatory safety rules, and regulations will propel the growth of the ADAS market. The advanced driver assistance system (ADAS) offers benefits like a decrease in loss of property or life, reduction in the number of accidents, etc.

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.

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