Latest News- Automotive ADAS Aftermarket Market: Passive park assists is expected to lead the Technology segment during 2025-2029

The Automotive ADAS Aftermarket Market is being driven by Decline in sensor prices

The Automotive ADAS Aftermarket Market is expected to grow at a CAGR of 13.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 5211.8 million. The global automotive aftermarket for Advanced Driver-Assistance Systems (ADAS) is experiencing significant growth due to the increasing number of vehicles on the road. However, this market expansion is being hindered by a shortage of skilled automotive technicians capable of calibrating and repairing these complex technologies. Factors such as a lack of clear career paths, disparate compensation packages, and lengthy working hours are contributing to this shortage. In developed economies like the US, the demand for repair and maintenance services is escalating, leading regulatory bodies to anticipate a strong need for skilled automotive technicians throughout the forecast period. It is essential for industry stakeholders to address this issue to ensure the continued growth of the automotive ADAS aftermarket. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Technology
  • Passive park assists
  • FCWS and LDWS
  • Others
• Vehicle Type
  • Passenger vehicles
  • Commercial vehicles
• Channel
  • OEM-fitted ADAS
  • Independent aftermarket
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Decline in sensor prices
• Priority of automotive safety among customers
• Stringent regulations promoting adoption of ADAS

However, the market also witnesses some limitations, which are as follows:

• Adoption of active ADAS technologies by OEMs
• Lack of trust in ADAS leading to uncertainty in user acceptance of aftermarket ADAS
• Shortage of skilled automotive technicians

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Market Scope in Automotive ADAS Aftermarket Market Research Report

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Research Analysis Overview

The Automotive ADAS (Advanced Driver-Assistance Systems) aftermarket encompasses a range of offerings, including ADAS hardware, components, modules, controllers, processors, algorithms, mapping, localization, validation, testing, simulation, training, education, awareness, safety, efficiency, comfort, convenience, cost savings, fuel economy, emissions reduction, accident prevention, alcohol detection, connected vehicles, autonomous vehicles, and Level 0-5. These systems utilize advanced technologies such as vision and roadmap to enhance vehicle safety, efficiency, and convenience. ADAS components include hardware like sensors, cameras, and radars, as well as software like algorithms and processing systems. ADAS modules and controllers manage specific functions, while ADAS processors handle data processing. ADAS validation, testing, simulation, and training ensure the reliability and effectiveness of these systems. ADAS levels range from 0 (no automation) to 5 (full automation), with each level offering increasing levels of driver assistance. ADAS features include alcohol detection, connected vehicles, and autonomous vehicles, among others. ADAS aims to improve safety, efficiency, and convenience while reducing costs, fuel consumption, and emissions.

Market Research Overview

The global automotive components and equipment market encompasses businesses producing parts and accessories for various vehicle types, including passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. According to Technavio, market size is determined by the consolidated revenue of automotive components and equipment manufacturers. Key growth drivers in this sector include the rising demand for electronic components in automobiles, such as electronic control units (ECUs) and other electrical components, fueled by the increasing sales of EVs, motorcycles, and PCs over the past decade. Additionally, the adoption of Advanced Driver-Assistance Systems (ADAS), including Lane Departure Warning, Adaptive Cruise Control, and Automatic Emergency Braking, in both traditional and electric vehicles is expected to significantly contribute to market expansion. The shift towards Autonomous Driving technology is another significant trend influencing market growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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