Sales Forecast of Advanced Driver Assistance System (ADAS) Reveals Positive growth Through 2022-2028

Nowadays, vehicles have become integral part of our lives. With the rise in purchasing power of working-class and increased numbers of vehicles on road, the raised safety concerns of the driver and vehicle has paved the way for advanced driver assistance systems (ADAS). To ensure vehicle safety, government has introduced various rules, regulations and encouraged the integration of advanced safety systems into vehicles.
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For using enhanced safety applications, various research and development processes are underway. The consolidation of advanced technology such as AI (Artificial Intelligence), that will drive ADAS improvements. And according to a new research report published by Global Market Insights, Inc, the advanced driver assistance system market size is expected to exceed US$60 billion by 2026 in terms of yearly remunerations, which was valued at over US$35 billion in 2019.
Rising vehicle safety concerns will drive ADAS adoption
To enable real-time monitoring and vehicle safety, continuous efforts are being made to develop new and advanced safety solutions. The introduction of these highly accurate advanced technologies in ADAS systems will eliminate the chances of missed detection and false alarm. Market share of forward collision systems was 5% in 2019 and is expected to reach US$3.5 billion by 2026.
To minimize accidents, these systems are designed to detect a forthcoming strike and alarm the driver of possible collisions. To prevent from serious vehicle accidents, the U.S. National Highway Traffic Safety Administration (NHTSA) has consolidated automatic emergency braking system into its New Car Assessment Program. These devices are highly integrated with vehicles to enable automatic and semi-automatic control system.
Increasing vehicle safety regulations and standards globally will influence the ADAS industry trends in the coming years. To leverage competitive advantage, various companies form strategic agreements while introducing advanced technologies in the market. For an instance, Velodyne Lidar, Inc. bought Mapper.ai in July 2019 in a view to integrate mapping and localization software into its ADAS applications.
Technological advantages of modern safety solutions
With the rise in demand for semi-automatic and automatic vehicles that are fully equipped with advanced technology, detecting any obstruction near the vehicle such as cars, cyclists and pedestrians is possible with LiDAR technology. The segment is expected to rise at nearly 10% CGAR from 2020 to 2026. The laser-based sensors create a 3D model of surroundings near the vehicle and helps in taking quick decision prior to any kind of collision.
Companies are involved in the continuous development of newly launched LiDAR system for autonomous vehicles, propelling potential growth for ADAS providers. Velodyne Lidar, Inc. in January 2020, announced the introduction of its brand-new “Velabit” for ADAS systems and autonomous vehicles and 3D LiDAR technology. To deal with the accident caused by over-speeding of the vehicles, various steps are being taken to authorize the consolidation of automated barking technologies and speed limiters.
Several industry manufacturers are enhancing the R&D procedures to introduce new innovative safety solutions to deal with the growing demand from HCV segment. In July 2019, Peloton introduced its new automated solution that includes radar-based braking system to upgrade fuel efficiency and safety of truck drivers.
U.S. to emerge as one of the biggest ADAS markets
In 2019, ADAS market share in North America was around 30% with growing awareness about advanced vehicle safety systems and luxury features such as self-driving technology, infotainment. The U.S., which is the home of major automobile companies such as Volvo, Fiat Chrysler and Ford, is adopting these latest advanced technologies, and creating a huge product demand for ADAS solutions.
To take technological advantage and expand their businesses, major automobile companies are involved in creating and innovating new product range. For an example, in February 2020, Continental AG announced their expansion of production capacity for ADAS system and RADAR sensors by constructing a new plant in Texas, U.S.
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Some major industry players developing and providing advanced driver assistance solutions are Continental AG, Delphi Technologies, Bosch Group, Autoliv, Inc., Valeo SA., Denso Corporation, Panasonic Corporation, Hyundai Mobis, and Texas Instruments. The outcome of technological enhancements encompass accurate data and information to identify and eliminates problems.
Table of Contents of the Report (TOC):
Chapter 1   Methodology and Scope
1.1    Definitions & forecast parameters
1.1.1    Definitions
1.1.2    Methodology and forecast parameters
1.2    Impact of COVID-19, by region
1.2.1    North America
1.2.2    Europe
1.2.3    Asia Pacific
1.2.4    Latin America
1.2.5    MEA
1.3    Data Sources
1.3.1    Secondary
1.3.2    Primary
Chapter 2   Executive Summary
2.1    Advanced Driver Assistance System (ADAS) industry 360° synopsis, 2018 – 2030
2.1.1    Business trends
2.1.2    Regional trends
2.1.3    Technology trends
2.1.4    Sensor trends
2.1.5    Vehicle trends
2.1.6    Distribution channel trends
Chapter 3   Industry Insights
3.1    Introduction
3.2    Impact of COVID-19 on Advanced Driver Assistance System (ADAS) industry landscape
3.2.1    Global outlook
3.2.2    Regional impact
3.2.2.1   North America
3.2.2.2   Europe
3.2.2.3   Asia Pacific
3.2.2.4   Latin America
3.2.2.5   MEA
3.2.3    Industry value chain
3.2.3.1   Research & development
3.2.3.2   Manufacturing
3.2.3.3   Marketing
3.2.3.4   Supply
3.2.4    Competitive landscape
3.2.4.1   Strategy
3.2.4.2   Distribution network
3.2.4.3   Business growth
3.3    Impact of Russia-Ukraine war
3.4    Industry ecosystem analysis
3.4.1    Component suppliers
3.4.2    Technology provider
3.4.3    Manufacturers
3.4.4    Distribution channel analysis
3.4.5    End-use landscape
3.4.6    Profit margin
3.4.7    Vendor matrix
3.5    Accidents and fatalities statistics
3.6    ADAS Industry, trends
3.6.1    Embedded vision
3.6.2    Sensor
3.6.3    Connectivity
3.6.4    Automotive system infrastructure
3.6.5    Automotive HMI design
3.7    Pricing trends, by region
3.7.1    Regional pricing trends
3.7.1.1   North America
3.7.1.2   Europe
3.7.1.3   APAC
3.7.1.4   LATAM
3.7.1.5   MEA
3.7.2    Cost structure analysis
3.8    Technology & innovation landscape
3.8.1    Real-time mapping data and propulsion software optimization in ADAS
3.8.2    Adaptive cruise control (ACC)
3.8.3    Tire Pressure Monitoring System (TPMS)
3.9    Regulatory landscape
3.9.1    North America
3.9.2    Europe
3.9.3    Asia Pacific
3.9.4    Latin America
3.9.5    MEA
3.10    Patent analysis
3.11    Investment portfolio
3.12    Industry impact forces
3.12.1    Growth drivers
3.12.1.1    Supporting government regulations for accident prevention in North America
3.12.1.2    Emerging European Commission initiatives for road safety
3.12.1.3    Rising demand for electric vehicles
3.12.1.4    Emergence of autonomous technology
3.12.1.5    Initiatives for development of advance sensing technology
3.12.2    Industry pitfalls & challenges
3.12.2.1    Lack of awareness, higher costs, along with uncertainty of electronic components
3.13    Growth potential analysis
3.14    Porter's analysis
3.14.1    Supplier power
3.14.2    Buyer power
3.14.3    Threat of new entrants
3.14.4    Threat of substitutes
3.14.5    Internal rivalry
3.15    PESTEL analysis
3.15.1    Political
3.15.2    Economic
3.15.3    Social
3.15.4    Technological
3.15.5    Legal
3.15.6    Environmental
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