Advanced Driver Assistance Systems (ADAS) Market to Exceed Market Valuation of USD 74.75 Billion by 2031

WESTFORD, MA, UNITED STATES, September 11, 2024 /EINPresswire.com/ -- Advanced driver assistance systems market size was valued at USD 29.70 billion in 2022 and is poised to grow from USD 32.91 billion in 2023 to USD 74.75 billion by 2031, growing at a CAGR of 10.88% in the forecast period (2024-2031).

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The advanced driver assistance systems (ADAS) market is booming with the advancements in technologies and growing regulations. Governments in different regions are actively spending money on the implementation of improved technologies, supporting autonomous vehicles, and creating safety features. Most governments have enforced the inclusion of advanced driver assistance systems for car producers. Furthermore, the growing technological advancements in these systems are also impacting market growth. In 2022, the global advanced driver assistance systems (ADAS) market size was estimated at USD 29.70 billion.

Top Player’s Company Profiles
• Autoliv Inc.
• Continental AG
• DENSO Corporation
• Magna International Inc.
• ROBERT BOSCH STIFTUNG GMBH (ROBERT BOSCH GMBH)
• Valeo
• NXP Semiconductors
• Panasonic Corporation
• Renesas Electronics Corporation
• Texas Instruments
• Delphi Automotive Company

Trend of Advanced Sensor Fusion to Rise Considerably in Near Future

Semiconductor producers are actively delivering mature integrated circuits that incorporate sensor-signal chains needed for signal processing and conditioning. With signal chain incorporation, the trend of improved sensor fusion blends the result of various forms of sensors with extra data to offer more predictive forms of alerts. For instance, automotive system manufacturers or designers are creating systems that can capably project risky friction loss in between the route and the tyre by mixing sensor data from tire-pressure sensors, vehicle-acceleration sensors, electronic-stability control, and anti-braking systems.

Augmented Reality and 5G will Aid Expansion of ADAS Systems over 4-5 Years

The following are the key Advanced driver assistance systems Trends that will shape the growth of the market in the next 5 years

Though ADAS is not dependent on 5G, the low latency and huge bandwidth enabled by 5G will make the driver assistance devices perform better and increase the applications of ADAS. The advanced driver assistance systems develop and transfer huge quantities of data that might pressurize slow systems. The rapid data transfer speeds offered by 5G will bring opportunities in other developing technologies like (AR) augmented reality. In future, automobile manufacturers will adopt AR to monitor essential data like navigational directions and speed limit in driver’s vision line.

Higher Integrated Wireless Systems to Offer More Assistance to Drivers in Future

Speedy growth of wireless networks and digital data sources in cars are playing a key role in external and in-vehicle connectivity. Along with critical systems like anti-lock braking systems, tire-pressure monitoring, and wireless alternatives offer higher flexibility for regular automotive communication protocols. Besides removing cables and wires, the growth of highly integrated wireless systems offers a flexible base for services that assist drivers to stay updated with car status, alternate route, traffic conditions and more.

Segments covered in Advanced driver assistance systems market are as follows:
• Component
o Processor, Hardware (Camera Units, Lidar, Radar Sensors, Ultrasonic Sensors, Ecus, Others), Sensors (Image sensor, Lidar sensor, Ultrasonic sensor, Infrared (IR) sensor, Radar sensor, and Laser), Software (Middleware, Application Software, Operating Systems), Others

• Vehicle type
o Passenger cars, light commercial vehicles, buses, and trucks

• Autonomy
o L1, L2, L3, L4, L5

• Electric Vehicle Type
o Battery Electric Vehicles, Fuel Cell Electric Vehicles, Hybrid Electric Vehicles, Plug-in Hybrid Electric Vehicles

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Advanced Independent Driving Capabilities to Emerge over Next 10 years

The next decade of advanced driver assistance systems will witness speedy evolution impacted by regulatory changes, advancements in technology, and changing needs of consumers. the market will be notably impacted by level 4 and 5 autonomies. In future, vehicles will flourish towards greater levels of autonomy, mainly level 4 and level 5, high automation and full automation respectively. This denotes that vehicles will manage driving jobs with no human assistance in specific conditions in level 4 and in all conditions in level 5.

Latest Headlines and Headlights

In January 2024: Robert Bosch GmbH and Qualcomm Technologies Inc. launched the industry’s first central car capable of ADAS and running infotainment functionalities on sole (SoC) single system-on-chip.

In November 2022: Continental AG will offer improved (ADAS) Advanced Driver Assistance Systems depending on CV3 (AI) artificial intelligence (SoC) system-on-chip class from Ambarella, a semiconductor company.

In December 2023: Magna International is expanding its automated driving competencies by joining hands with Ericsson’s 5G innovation suite and NorthStar – Telia Sweden for industrial enterprises. As a unit of NorthStar, Magna International will access 5G mmWave technology, allowing continuous connectivity and low latency gigabit speeds for novel ADAS experiments.

In October 2023: DENSO CORPORATION and KOITO MANUFACTURING CO., LTD declared their collaboration to manufacture a system to enhance object identification of car image sensors by synchronizing image sensors and lamp, aiming to enhance safer night driving.

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Constant Progresses in ADAS Software and Hardware Will Make Driving Safer & Secure

The advanced driver assistance systems (ADAS) market is constantly progressing with respect to software and hardware. Improvements are also seen in memory, processing power, communication speeds in different components like cameras and radars. These devices will witness constant changes and improvements, making driving more safe, secure, and allowing drivers and transport firms to be well-informed with expert networks offering more impact on the development.

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