Commercial Vehicle ADAS Market Size to grow by USD 2524.98 million between 2024-2028
According to a research report “ Commercial Vehicle ADAS Market” by Technology (Blind spot detection and others, TPMS, PAS, FCW) Application (LCV, HCV) 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 2524.98 million, at a CAGR of 12.39% during the forecast period. In the commercial vehicle market, advanced driver-assistance systems (ADAS) have become increasingly essential for enhancing safety and convenience. Sensors, a critical component of these systems, are engineered to detect chemical, physical, and process changes in the vehicle's environment. With a growing focus on driver safety and comfort, automotive manufacturers integrate sensor-based technologies to execute automated operations and differentiate their offerings. Some common types of sensors include pressure sensors, wheel speed sensors, temperature sensors, fluid level sensors, and emission sensors. The proliferation of electronic components, systems, and sub-systems in modern vehicles has led to an average of 60-100 sensors per vehicle. This trend is expected to continue as technological advancements in the automotive industry accelerate..
Browse market data tables, figures, and in-depth TOC on “Commercial Vehicle ADAS Market” by Technology (Blind spot detection and others, TPMS, PAS, FCW) Application (LCV, HCV) Geography (North America, Europe, APAC, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample
By Technology, the Blind spot detection and others segment is projected to dominate the market size in 2024
The Tyre Pressure Monitoring System (TPMS) market within the commercial vehicle sector encompasses direct and indirect systems. Direct TPMS displays tire pressure in individual tires, providing greater accuracy, while indirect TPMS measures the pressure difference between tires. Advanced indirect TPMS uses tire vibration analysis to identify under-inflated tires. Although indirect TPMS has gained traction due to cost advantages, there is a growing preference for direct TPMS due to its enhanced precision. Light Commercial Vehicles (LCVs) exhibit higher TPMS penetration than Heavy Commercial Vehicles (HCVs) due to regulatory mandates in passenger vehicles that apply to LCVs as well. In Europe, TPMS has been mandatory in commercial vehicles since 2009, and in the US, it has been a requirement for all new light vehicles since September 2007.
By Application, LCV segment is expected to hold the largest market size for the year 2024
The light commercial vehicle (LCV) segment, which encompasses vehicles primarily utilized for short-distance transportation of small loads within urban areas, represents a significant portion of the global commercial vehicle Advanced Driver-Assistance Systems (ADAS) market. In North America, where SUVs and pick-up trucks are classified as LCVs, the segment experiences elevated sales, thereby influencing the market's growth trajectory. The APAC and MEA regions, however, exclude pick-up trucks and SUVs from their LCV definitions. Despite this regional variation, the LCV segment of the global commercial vehicle ADAS market is projected to witness substantial expansion throughout the forecast period.
North America is forecasted to hold the largest market size by region in 2024
The Commercial Vehicle Advanced Driver-Assistance Systems (ADAS) market in North America is experiencing substantial growth, accounting for a substantial share of the global market. This expansion is primarily driven by the region's technological advancements in the automotive sector and the increased adoption of new technologies. The economic recovery in North America, coupled with safety regulations such as US NCAP and NHTSA, have heightened the demand for ADAS in commercial vehicles. Furthermore, the TPMS regulatory mandate and the implementation of the backup camera rule in 2014 for all light vehicles have significantly contributed to the market's growth.
The Commercial Vehicle ADAS 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:
.
For insights on company offerings- Request a sample report!
Research Analysis Overview
The Commercial Vehicle ADAS (Advanced Driver-Assistance Systems) market is witnessing significant growth due to the increasing demand for vehicle safety and automation in commercial vehicles. Blind Spot Detection, Night Vision System, Adaptive Front lighting, Parking Assist System, and Locator Telescope Camera are some of the popular ADAS features in commercial vehicles. These systems enhance safety by providing real-time information to drivers, helping them avoid collisions and improve situational awareness. Premium cars and passenger cars are not the only ones benefiting from ADAS. Commercial vehicles, including trucks, buses, and delivery vans, are also adopting these technologies. The market for ADAS sensors, including cameras, LIDAR, and Radar, is expanding as commercial vehicles integrate software and hardware to improve vehicle automation and electrification. Traditional ADAS systems, such as drowsiness monitoring systems, are being supplemented with advanced features like night vision systems. Automated vehicles and self-driving technology are also influencing the commercial vehicle ADAS market, with LIDAR sensors playing a crucial role in enabling autonomous driving. The future of commercial vehicle safety lies in the integration of advanced ADAS technologies, making roads safer for everyone.
Market Research Overview
The Commercial Vehicle ADAS (Advanced Driver-Assistance Systems) market is experiencing significant growth due to autonomous driving innovations and technological advancements. Multifunctional systems, including Collision Avoidance, Lane Departure Warning, Traffic Sign Recognition, Driver Drowsiness Alert, Blind Spot Detection, and Night Vision System, are increasingly being adopted to enhance vehicle safety in commercial vehicles. Key sensors used in ADAS include image sensors, LIDAR, Radar, and Cameras. Traditional ADAS systems like ABS and Adaptive Cruise Control are being augmented with advanced features like Adaptive Front lighting, Parking Assist System, and Locator Telescope Camera. Global safety regulations and the focus on vehicle safety are driving the demand for these systems in both premium cars and commercial vehicles. Governments and regulations are playing a crucial role in shaping the future of the global automotive industry, with automated vehicles and self-driving commercial vehicles becoming a reality. The market for Commercial Vehicle ADAS is witnessing significant investments in software, sensors, cameras, and vehicle electrification. As the market evolves, we can expect to see continued advancements in vehicle automation and safety technologies. Road accidents remain a major concern, and the adoption of these systems is expected to help reduce the number of accidents and improve overall safety on the roads.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
