Latest News- Automotive Advanced Driver Assistance System (ADAS) Market: Passenger cars is expected to lead the Application segment during 2025-2029

The Automotive Advanced Driver Assistance System (ADAS) Market is being driven by Decline in sensor prices

The Automotive Advanced Driver Assistance System (ADAS) Market is expected to grow at a CAGR of 14.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 43534.3 million. In the automotive industry, there is a significant focus on meeting customer demands by providing customized solutions in a fully interconnected environment. Artificial Intelligence (AI) technology is increasingly being adopted in Advanced Driver Assistance Systems (ADAS) due to the rising need to mimic human cognitive abilities. AI-enhanced ADAS continuously learns from experience, improving its capacity to identify and classify objects in the vehicle's surroundings. This advanced functionality enables the system to detect and recognize multiple objects, enhancing safety and convenience. Moreover, AI-based ADAS consumes less power and expedites development time, making it a preferred choice for leading ADAS manufacturers. Consequently, the integration of AI technology is poised to significantly impact the growth trajectory of the global automotive advanced driver assistance system market over the forecast period. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Passenger cars
  • Commercial vehicles
• Technology
  • AEBS
  • TPMS
  • PAS
  • Others
• Component
  • Sensors
  • Processor
  • Software
  • Others
• Geography
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • North America
    • Canada
    • Mexico
    • US
  • APAC
    • China
    • Japan
    • South Korea
  • 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: 

• Decline in sensor prices
• Increase in travel time
• Stringent regulations promoting adoption of ADAS

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

• High costs associated with service and maintenance of ADAS
• Functional issues under adverse weather conditions
• Lack of trust in system reliability

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Market Scope in Automotive Advanced Driver Assistance System (ADAS) Market Research Report

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Research Analysis Overview

The Automotive Advanced Driver Assistance System (ADAS) market encompasses technologies such as object recognition, pedestrian detection, and vehicle detection, enabling trajectory prediction and decision making through path planning and control algorithms. Actuator control, human-machine interface (HMI), haptic feedback, and user experience (UX) enhance safety and convenience. Sensor accuracy, reliability, processing speed, and power consumption are key considerations, alongside cost optimization and integration challenges. Data security, privacy concerns, ethical considerations, legal liability, consumer adoption, and supply chain management are critical factors shaping the market's growth and development.

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 generated by manufacturers of automotive components and equipment. Key growth drivers for this market include the surge in electronic components utilization in automobiles. The escalating sales of EVs, motorcycles, and PCs have significantly boosted the demand for electronic control units (ECUs) and other electrical components in the past decade. Advanced Driver Assistance Systems (ADAS), such as adaptive cruise control, lane departure warning, automatic emergency braking, blind spot detection, forward collision warning, and parking assist, are major contributors to this trend.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
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