Automotive Advanced Driver Assistance System (Adas) Sensors Market Size to grow by USD 102442 million between 2024-2028
According to a research report “ Automotive Advanced Driver Assistance System (Adas) Sensors Market” by Product (Radar sensor, Image sensor, Ultrasonic sensor, Infrared sensor, LiDAR sensor) Application (Passenger vehicle, Commercial vehicle) Geography (Europe, North America, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 102442 million, at a CAGR of 32.97% during the forecast period. In the automotive industry, there is a significant push towards advanced driver assistance systems (ADAS) and automated driving. Major Original Equipment Manufacturers (OEMs) and tier-I players are actively investing in this area to reach level-3 and level-4 vehicle automation standards. These initiatives, though costly, are expected to fuel the growth of the ADAS sensors market. According to the Society of Automotive Engineers (SAE), vehicle automation levels 1 and 2 have been in use since 2014. At level 1, individual vehicle controls are automated, with ADAS systems such as automatic braking, electronic stability control, and image, ultrasonic, and radar sensors being employed. By 2020, level 2 automation is anticipated, which involves the automation of at least two vehicle controls or driving functions. These advancements will undoubtedly shape the future of the automotive industry and the market for ADAS sensors..
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By Product, the Radar sensor segment is projected to dominate the market size in 2024
In the automotive industry's transition towards autonomous driving, Advanced Driver Assistance Systems (ADAS) have gained significant traction. Radar sensors play a pivotal role in this domain, accounting for the largest market share among all ADAS sensors. Notably, radar sensors are instrumental in various ADAS applications, such as the Advanced Emergency Braking System (AEBS). This technology is increasingly being mandated by regulatory bodies, including the US Department of Transportation, due to its proven effectiveness in reducing rear-end collisions. By enhancing safety and complying with regulatory requirements, organizations are integrating AEBS into their 2022 model-year vehicles as a standard feature.
By Application, Passenger vehicle segment is expected to hold the largest market size for the year 2024
In the automotive industry, the passenger cars segment is leading the adoption of Automotive Advanced Driver Assistance Systems (ADAS) sensors due to increasing safety regulations and competition. North America and Europe, as developed regions, are major markets for ADAS technologies in this segment. Strict safety standards, such as the US National Highway Traffic Safety Administration's (NHTSA) 5-Star Safety Ratings program, which emphasizes Advanced Emergency Braking Systems (AEBS), Forward Collision Warning Systems (FCWS), Lane Departure Warning Systems (LDWS), Tire Pressure Monitoring Systems (TPMS), and rearview video systems, drive the demand for these technologies in these regions.
Europe is forecasted to hold the largest market size by region in 2024
The Automotive Advanced Driver-Assistance Systems (ADAS) sensors market is experiencing significant growth due to the increasing demand for enhanced safety and convenience features in vehicles. ADAS sensors, including LiDAR, radar, and camera sensors, enable features such as adaptive cruise control, lane departure warning, and automatic emergency braking. Manufacturers are investing heavily in R&D to improve sensor technology and reduce costs, making ADAS an essential component of modern automotive technology. The market is expected to reach substantial growth in the coming years, driven by regulatory mandates, consumer preferences, and technological advancements.
The Automotive Advanced Driver Assistance System (Adas) Sensors 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 Advanced Driver Assistance System (ADAS) sensors market is witnessing significant growth due to the increasing demand for IT infrastructure and GPS connectivity in vehicles. High-definition cameras, LiDAR, and radar sensors are the primary components of ADAS systems, which offer features such as cross traffic alert, adaptive front lights, and adaptive cruise control. Governments and automobile manufacturers are investing heavily in these technologies to reduce road accidents and improve safety. The market for ADAS sensors is expected to reach a valuation of USD70.1 billion by 2026, growing at a CAGR of 13.2% during the forecast period. The adoption of these systems is not limited to luxury vehicles alone but is also gaining traction in compact passenger cars. Night vision systems are another emerging trend in the ADAS sensors market, providing enhanced safety and visibility during low-light conditions. The economic stability of countries and the increasing focus on safety are key factors driving the growth of the ADAS sensors market.
Market Research Overview
The Automotive Advanced Driver Assistance System (ADAS) sensors market is witnessing significant growth due to the increasing demand for safety and autonomous driving features in passenger and commercial vehicles. Companies like Momenta and Magna International are leading the charge in this space, developing innovative solutions such as fusion sensor technology and multifunctional sensors for robo-taxis and autonomous cars. IT infrastructure, GPS connectivity, high-definition cameras, LiDAR, ultrasonic sensors, and radar are some of the key sensors used in ADAS systems. Technological advancements, such as artificial intelligence and machine learning, are being integrated into these sensors to provide proactive measures against road mishaps. Autonomous driving-as-a-service and passenger vehicles are major growth areas for the ADAS sensors market. Governments and automobile manufacturers are investing heavily in this technology to improve road safety and reduce car accidents. Traditional ADAS systems, such as adaptive cruise control, lane departure warning, and automatic emergency braking, are being enhanced with software and processors for safety-critical functionality. Competitive markets in automotive electronics, such as premium vehicles, are driving up the purchase and valuation of these sensors. Economic stability and the workforce shortage in the tech industry are also contributing factors. Competitors in the market include vision zero, commercial vehicles, luxury vehicles, and vehicle electrification. Memory protection units, transceivers, and night vision systems are also gaining popularity in the ADAS sensors market. The future of this market lies in the integration of autonomous driving and vehicle automation.
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