Middle East News 247
Business

ADAS/ Advanced Driver Assistance Systems, its associated technologies and its demand worldwide

Advanced Driver Assistance Systems (ADAS) are systems and technology present in vehicles to assist drivers while driving with the help of advanced technologies. The global ADAS market size in 2021 was $23.44 billion, and by 2030 it is expected to reach $75.23 Billion with a CAGR of 13.83 % 2021-2030.

Advanced Driver Assistance System (ADAS) uses sensors inside the vehicle, such as a camera and radar, to watch the outside world. ADAS updates traffic, closure, and blockage of roads so the driver can get alert beforehand. ADAS can also take control of the driver if it notices any threats or if any difficult task such as parking and overtaking needs to be performed. Driver assistance technology helps make vehicle travel much easier and safer. It improves vehicles and road safety by using secure human interaction. ADAS can be a key factor in reducing driver accidents which have been increasing in recent years. It is a new technology, and few vehicles have installed this system. Increasing government regulations for implementing ADAS in vehicles are expected to further drive the demand.

The Growth of Adas market

The rising enforcement and implementation of vehicle safety have caused many companies to install ADAS into their vehicles, which cause the growth of the market. The increased regulation of vehicle safety can be attributed to the rise in accidents worldwide. However, the invasion of advanced driver-assistance features will increase the demand for components such as cameras, radar, and ultrasonic sensors in the coming period.

ADAS requires well-organized roads, lane marking, and the availability of GPS for effective functioning. Poor infrastructure and driving training and discipline will restrict the growth of the ADAS market in developing countries. In addition, the financial crisis due to the pandemic will also delay the development of modern infrastructure.

New technology and developed vehicular infrastructure by different companies to install in their vehicles could encourage the ADAS market growth. Technology such as blind spot detection, automatic emergency braking, traffic sign, lane departure warning, self-driving car, adaptive light control, automatic parking, navigation system, driver monitoring system, and emergency driver assistant could help drivers drive efficiently. Due to the high efficiency of these systems number of traffic systems can be reduced. Expanding ADAS into a newer market could help improve the awareness of ADAS in the Industry.

Region

The Industry is divided into systems, components, vehicles, and regions. By system type, the Industry is divided into adaptive cruise control, adaptive front lights, autonomous emergency braking, blind spot detection system, E-Call system, and park assistance. Adaptive cruise control has the largest market share and is expected to remain the same in the coming years. By component type, the Industry is divided into radar, processor, sensor, camera, LiDAR, and software. The radar segment of Component type has the largest advanced driver assistance system market size. The growing number of accidents and the rise in awareness of improved safety are important factors for market growth. Depending on vehicle type, the market is categorized into passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger car segment has accounted for the largest market share in 2021. The rising urbanization, industrialization, and disposable incomes have increased car sales and manufacturing globally. By region, North America Dominated the Industry globally in 2021, accounting for more than 37.1% of the total ADAS market. In the coming years, Asia Pacific is expected to be the fastest-growing region in the ADAS market. The growth in the use of modern electronics can contribute to the growth of the ADAS market.

Key player of Adas market

Major competitors involved in the operation of the ADAS market include Robert bosch GmbH, Autoliv INC., Magna International, Denso Corporation, Panasonic Corporation, Hyundai Mobs, and Jayson Electronics. They are focusing on geographical expansion and new product launches to stabilize its position in the market. The key players also focus on undertaking various initiatives, agreements and contracts, and partnerships to remain in the competitor market.

The growing demand for safety and comfort while driving is an important aspect of the rise of ADAS, and the vehicle’s safety regulation will enhance the market growth.

Related posts

How to get your savings on track for a bumper 2021 – Pocketful of Dirhams

Editor - CL

Biggest Indian bank cuts loan-growth target after profit jumps

Editor - CL

Eshraq announces a new business strategy and a return program for shareholders

Editor - CL