Advanced Driver Assistance Systems (ADAS) Market Forecast 2023-2032

Posted by Biswadeep on October 16th, 2023

The Advanced Driver Assistance Systems (ADAS) Global Market Report 2023, provides comprehensive information on the advanced driver assistance systems (ADAS) market across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.

Learn More On The Advanced Driver Assistance Systems (ADAS) Market’s Growth:

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As per The Business Research Company’s Advanced Driver Assistance Systems (ADAS) Global Market Report 2023, the global advanced driver assistance systems (adas) market size will grow from .85 billion in 2022 to .61 billion in 2023 at a compound annual growth rate (CAGR) of 18.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of advanced driver assistance systems (adas) market is expected to grow to .56 billion in 2027 at a CAGR of 17.9%..

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Technological advancements are a key trend gaining popularity in the ADAS market. Major companies operating in the ADAS market are focused on developing new technological solutions to strengthen their position through the implementation of next-generation ADAS technologies into their products such as sensor fusion, embedded vision, HMI, software infrastructure, and autosar. For instance, In September 2021, ZF Friedrichshafen, a German-based company, launched a high-performance Mid-Range Radar (MRR), the nextgen advancement in the ADAS tech market, which is designed to meet safety ratings and enable semi-automated driving functions. The Mid-Range Radar has modes that provide the proper resolution and range tuned for the driving situation.

The advanced driver assistance systems (ADAS) market is segmented:

1) By System Type: Tire Pressure Monitoring System (TPMS), Drowsiness Monitor System, Intelligent Parking Assist System (IPAS), Adaptive Cruise Control System, Blind Spot Object Detection System, Lane Departure Warning System, Adaptive Front-lighting System, Other System Types

2) By Offering: Hardware, Software

3) By Vehicle Type: Passenger Car, Light Commercial Vehicle, Buses, Trucks

North America was the largest region in the advanced driver assistance systems (ADAS) market in 2022.

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