Automotive Adas Aftermarket Market to grow by USD 4188.7 million between 2024-2028
According to a research report “ Automotive Adas Aftermarket Market” by Technology (Passive park assists, FCWS and LDWS, Others) Vehicle Type (Passenger vehicles, Commercial vehicles) Geography (North America, Europe, APAC, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 4188.7 million at a CAGR of 12.15% during the forecast period. In the automotive industry, economies of scale have significantly impacted the market for Advanced Driver-Assistance Systems (ADAS) in the aftermarket. The widespread adoption of technology in consumer electronics and automotive segments has led to a substantial decrease in the cost of displays and sensors, such as radars and cameras. This price reduction enables aftermarket vendors to offer cost-effective ADAS solutions, expanding their market reach and gaining a competitive edge..
Browse market data tables, figures, and in-depth TOC on “Automotive Adas Aftermarket Market” by Technology (Passive park assists, FCWS and LDWS, Others) Vehicle Type (Passenger vehicles, Commercial vehicles) Geography (North America, Europe, APAC, Middle East and Africa, South America) Global Forecast to 2028.
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By Technology, the Passive park assists segment is projected to dominate the market size in 2024.
In the automotive industry, the passenger vehicles segment leads the adoption of Advanced Driver-Assistance Systems (ADAS) technologies due to safety regulations and competitive differentiation. Developed markets, particularly North America and Europe, dominate this trend, driven by stringent safety standards and initiatives like the US's NHTSA 5-Star Safety Ratings system, which prioritizes ADAS features such as Automatic Emergency Braking Systems, Forward Collision Warning Systems, Lane Departure Warning Systems, Tire Pressure Monitoring Systems, and rear-view video systems.
By Vehicle Type, Passenger vehicles segment is expected to hold the largest market size for the year 2024.
In the automotive ADAS aftermarket, the passive park assist segment holds a significant market share. This segment encompasses rear parking sensors, backup cameras, and rear cross-traffic alerts. The demand for these technologies is escalating due to their affordability and suitability for lower-trim vehicles and older models. Urban environments with limited parking spaces are driving the adoption of passive systems, such as backup cameras. Additionally, the decreasing costs of sensors, cameras, and displays are fueling the growth of this segment in the global automotive ADAS aftermarket.
North America is forecasted to hold the largest market size by region in 2024.
The Automotive ADAS aftermarket represents a significant growth opportunity, driven by increasing vehicle parc and rising demand for advanced safety features. This market encompasses the sale and installation of aftermarket Advanced Driver-Assistance Systems (ADAS) components, including sensors, cameras, and software updates. Businesses in this sector aim to provide cost-effective solutions, ensuring compatibility with various vehicle makes and models, and maintaining high-quality standards to meet customer expectations.
The Automotive Adas Aftermarket Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Automotive ADAS (Advanced Driver-Assistance Systems) aftermarket is experiencing significant growth due to the increasing demand for enhanced vehicle safety and automation. V2V (vehicle-to-vehicle) communication and connectivity are key elements driving this trend, as they enable real-time data exchange between vehicles, improving road safety. Regulatory requirements from automakers are also pushing the adoption of ADAS, with crash test ratings becoming increasingly stringent. Advanced safety features such as multifunctional sensors, high-definition cameras, ultrasonic sensors, LiDAR, radar, and drowsiness monitoring are becoming standard in modern vehicles. Self-driving automobiles are the ultimate goal, and sensor fusion methods, which combine data from multiple sensors, are essential for achieving this level of automation. The electrification of vehicles is also impacting the ADAS aftermarket, as electric and hybrid vehicles require specialized sensors and software to ensure optimal performance and safety. The use of night vision and other advanced technologies further enhances the capabilities of ADAS systems, making the aftermarket a dynamic and innovative sector.
Market Research Overview
The Automotive ADAS (Advanced Driver-Assistance Systems) aftermarket is experiencing significant growth due to the increasing demand for safety and automation in vehicles. This market encompasses various components and subsystems, including power electronics, control modules, sensing systems, and electronic control units. Key technologies driving this market are vehicle radar, infrared sensors, LiDAR, and camera systems. ADAS systems, such as ACC (Adaptive Cruise Control), LDW (Lane Departure Warning), and AEB (Automatic Emergency Braking), are becoming increasingly common in both premium and less-developed vehicle segments. The competition among OEMs (Original Equipment Manufacturers) is fierce, leading to competitive prices and collaborative efforts to meet consumer expectations for reliability, utility, and cutting-edge technologies. The ADAS aftermarket also includes software-driven electronic components, microcontroller units, and ADAS integration. The growth of autonomous vehicle technology and the electrification of vehicles are further expanding the market. Challenges in integration and standardization of infrastructure, such as 802.3ch and 802.3cz IEEE standards, are being addressed through regulatory requirements and collaborative efforts among automotive industry stakeholders, including infrastructure providers and automakers. The aftermarket for ADAS technologies is expected to continue growing, driven by the appeal to consumers for improved safety, efficiency, and connectivity features, such as real-time decision-making, V2X (vehicle-to-everything) communication, and navigation with traffic updates and distances between vehicles.
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