Latest News- Commercial Vehicle ADAS Market: LCV is expected to lead the Application segment during 2025-2029
The Commercial Vehicle ADAS Market is being driven by Introduction of sensor technology
The Commercial Vehicle ADAS Market is expected to grow at a CAGR of 13.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 3116.1 million. In the commercial vehicle market, the automotive industry is making significant strides in enhancing Advanced Driver-Assistance Systems (ADAS) through innovative collaborations and individual developments. One such advancement comes from TomTom International BV, which offers the TomTom ADAS Map. This map data supplements traditional sensor data, enabling ADAS to anticipate road conditions and make informed decisions beyond sensor limitations. By incorporating this additional map content, commercial vehicle ADAS technologies, including adaptive cruise control (ACC) and transmission select switch reverse (TSR), will experience enhanced functionality and improved safety.
Get more information on Commercial Vehicle ADAS Market by requesting a sample report
Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Application (LCV, HCV) Technology (TPMS, PAS, FCW, Others) Geography (North America, APAC, Europe, South America, Middle East and Africa).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
Rich Experience: 20+ years leading global market research, trusted insights across industries.
Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.
Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.
Key Features in Commercial Vehicle ADAS Market Research Report
Find out which segment is leading the market by accessing the free PDF report
The Commercial Vehicle Advanced Driver-Assistance Systems (ADAS) market encompasses technologies such as night vision systems and drowsiness monitoring systems. These innovations complement traditional ADAS features like radar, LIDAR, and cameras. Vehicle electrification and automation are driving the market's growth. Sensors, software, and various systems such as parking assist, adaptive front lighting, and blind spot detection are integral components. Night vision systems, locator telescope cameras, and self-driving capabilities enhance vehicle safety for both commercial and premium vehicles.
The global automotive components and equipment market encompasses businesses producing parts and accessories for various vehicle types, including commercial vehicles (CVs), electric vehicles (EVs), heavy-duty vehicles, passenger cars (PCs), motorcycles, scooters, quad bikes, and three-wheelers. According to Technavio, market size is determined by the consolidated revenue of automotive component and equipment manufacturers. Key growth drivers in this sector include the rising integration of electronic components in automobiles, such as night vision systems, radar, and ADAS sensors, which have seen significant demand due to the increasing sales of EVs, motorcycles, and PCs in recent years. Additionally, the trends toward vehicle electrification and automation are further fueling the growth of the automotive components and equipment market.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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/
Safe and Secure SSL Encrypted
One user only.
Quick & easy download option
Unlimited user access (Within your organization).
Complimentary Customization Included
*For Enterprise license, go to checkout page
Get the report (PDF) sent to your email within minutes.
