Press release
Advanced Driver Assistance Systems Market is expected to reach US$ 165.68 billion by 2031, growing with a CAGR of 17.71% - Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG
Advanced Driver Assistance Systems Market
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Global Advanced Driver Assistance Systems Market reached US$ 44.96 billion in 2023 and is expected to reach US$ 165.68 billion by 2031, growing with a CAGR of 17.71% during the forecast period 2024-2031.
Advanced Driver Assistance Systems (ADAS) are intelligent technologies designed to enhance vehicle safety and improve driving comfort. These systems use sensors, cameras, and radar to assist drivers in functions like lane-keeping, adaptive cruise control, and automatic emergency braking. ADAS helps reduce human errors that lead to accidents, making roads safer for both drivers and pedestrians. They are integral to modern vehicles, bridging the gap between conventional cars and fully autonomous vehicles. The growing adoption of ADAS is driven by regulatory mandates and increasing consumer demand for safer driving experiences.
List of the Key Players in the Advanced Driver Assistance Systems Market:
Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG, DENSO CORPORATION, Aptiv PLC, Valeo SA, Magna International Inc., Aisin Seiki Co. Ltd, Autoliv Inc., GENTEX CORPORATION, Harman International, Hyundai Mobis, NXP Semiconductor, Mobileye, Panasonic Corporation, Renesas Electronics Corporation.
Industry Development:
❁ In June 2023, Continental AG announced its plans to develop affordable Advanced Driver Assistance Systems (ADAS) tailored for the Indian automobile and motorcycle markets. The company aims to improve the safety and affordability of vehicles in India by integrating advanced technologies, such as automated braking, lane assistance, and adaptive cruise control, into a cost-effective solution. This initiative reflects Continental's commitment to enhancing road safety and driving experiences in India while addressing the specific needs of local consumers and the growing demand for modern automotive technologies.
Growth Forecast Projected:
The Global Advanced Driver Assistance Systems Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
Research Process:
Both primary and secondary data sources have been used in the global Advanced Driver Assistance Systems Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.
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Segment Covered in the Advanced Driver Assistance Systems Market:
By Type: Adaptive Cruise Control, Adaptive Light Control, Blind Spot Detection, Collision Avoidance Systems, Driver Drowsiness Detection, E-Call Telematics, Lane Departure Warning Systems, Night Vision, Parking Assistance, Tire Pressure Monitoring, Others.
By Offering: Hardware, Software.
By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Buses and Trucks, Electric Vehicles, Others.
Regional Analysis for Advanced Driver Assistance Systems Market:
The regional analysis of the Advanced Driver Assistance Systems Market covers key regions including North America, Europe, Asia Pacific Middle East and Africa and South America. The North America with a focus on the U.S., Canada, and Mexico; Europe, highlighting major countries like the U.K., Germany, France, and Italy, along with other nations in the region; Asia-Pacific, covering India, China, Japan, South Korea, and Australia, among others; South America, with emphasis on Colombia, Brazil, and Argentina; and the Middle East & Africa, which includes Saudi Arabia, the U.A.E., South Africa, and other countries. This comprehensive regional breakdown helps identify unique market trends and growth opportunities specific to each area.
⇥ North America (U.S., Canada, Mexico)
⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)
⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)
⇥ South America (Colombia, Brazil, Argentina, Rest of South America)
⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Benefits of the Report:
➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.
➡ Top-down and bottom-up approach for regional analysis
➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.
➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market
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People Also Ask:
➠ What is the global sales, production, consumption, import, and export value of the Advanced Driver Assistance Systems market?
➠ Who are the leading manufacturers in the global Advanced Driver Assistance Systems industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?
➠ What opportunities and challenges do vendors in the global Advanced Driver Assistance Systems industry face?
➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?
➠ What are the key factors and limitations affecting the growth of the Advanced Driver Assistance Systems market?
➠ What are the various sales, marketing, and distribution channels in the global industry?
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