Advanced Driver Assistance Market to hit $ 162.04 Billion by 2032 Owing to Consumer Demand for Vehicle Safety Features

The Advanced Driver Assistance Market is driven by Increasing safety concerns, technological innovation, autonomous driving trends, and regulatory mandates

AUSTIN, TX, UNITED STATES, December 2, 2024 /EINPresswire.com/ --

Advanced Driver Assistance Market

The Advanced Driver Assistance Market was USD 56.81 billion in 2023 and is expected to reach USD 162.04 billion by 2032, growing at a CAGR of 12.4% over the forecast period of 2024-2032.

Advanced Driver Assistance Market to Experience Unprecedented Growth by 2032, Driven by Consumer Demand and Stricter Regulations.

The Advanced Driver Assistance Market is poised to undergo significant growth shortly, given the growing demand from North America and Europe for safe systems within vehicles. According to a 2023 American Automobile Association survey, 72% of U.S. drivers would pay extra for advanced safety features that include Automatic Emergency Braking (AEB), reflecting increasing consumer interest in ADAS technologies. Government regulations are also driving the adoption of ADAS.

A mandate from the National Highway Traffic Safety Administration requiring AEBs in all new light-duty vehicles built in 2026 has propelled the uptake. Sales growth of luxury vehicles in the U.S. is also fueling demand for premium ADAS features, such as lane-keeping assistance and adaptive cruise control.

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Key Players Listed in the Advanced Driver Assistance Market Are:

• Robert Bosch
• ZF Friedrishshafen
• Continental AG
• Denso
• Magna International
• Mobiliye
• Valeo
• Hyundia Mobis
• Aptiv and other Key Players

Advanced Driver Assistance Market to Surge as Regulations and Consumer Demand Propel Safety Innovations.

Increasing accident rate due to human error has further heightened the requirement of ADAS, as features such as lane departure warning and collision warning systems have come crucial in preventing accidents. Government regulations are also playing a very important role; many countries are mandating that new vehicles include certain ADAS features in them.

For instance, AEB becomes mandatory on all new passenger cars sold in the U.S., additional driver of market adoption. Further, new sensor technologies, including LiDAR, unlock new opportunities for more sophisticated ADAS functions such as autonomous lane changing and 3D object recognition.

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Advanced Driver Assistance Market Segment Analysis

By Electric Vehicle Type

Battery Electric Vehicles comprised 40% of sales in 2023, and it was the largest-selling type of all the varieties in terms of ADAS integration. Factors driving BEVs include being truly green and a recent trend toward advanced safe driving technologies with a demand for such equipment.

HEVs constitute about 30% because of the internal combustion engine electric powertrain that makes it more attractive to a larger crowd, and the safety benefits in addition from ADAS features increase its appeal.

PHEV falls in the middle between BEV and HEV, while accounting for about 25% in terms of the adoption of ADAS. Of course, Fuel Cell Electric Vehicles had the lowest share with below 5%.

Advanced Driver Assistance Market Key Segmentation:

By Vehicle Type

• Passenger Vehicles
• Commercial Vehicles
• Trucks
• Buses

By System Type

• Adaptive Cruise Control
• Adaptive Front Light
• Adaptive Emergency Braking
• Blind Spot Detection
• Cross-traffic alert
• Traffic Jam Assist
• Others

By Electric Vehicle Type

• BEV
• FCEV
• HEV
• PHEV

By Level of Autonomy

• L1
• L2
• L3
• L4
• L5

By Offerings:

• Hardware
• Camera Unit
• Radar Sensor
• Ultrasonic Sensor
• LiDAR
• ECU
• Others
• Software
• Middleware
• Application Software
• Operating System

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Regional Analysis:

In 2023, the North America region was the leader, holding a remarkable 41.05% of the ADAS market share. This can be linked to a string of reasons. For example, over 60% of the car shoppers in the United States favored the car whose original price already included the safety features in the vehicles because it is believed that this feature strengthens safety. For instance, government policies such as the NHTSA's decision on a requirement for AEB systems in light-duty vehicles are beginning to take center stage in giving the market a higher growth trajectory.

According to the forecast, Europe is expected to lead with the highest CAGR of 13.4% from 2024 to 2032. This growth can be attributed to strict safety regulations, such as the EU's requirement for ADAS features like Lane Departure Warning (LDW) and Autonomous Emergency Braking (AEB) to be progressively incorporated into new vehicles. IHS Market projects that by 2025, the penetration ratio of LDWs in Europe would be as high as 82% while the average penetration ratio for the world was expected to be at 67%. The growing challenge for pedestrians and bicyclists in their safety in urban crowded areas are some of the key drivers of the adoption of ADAS technology.

Recent Developments:

The power-up continues, as in February 2024, Bosch announced a partnership with Microsoft to explore generative AI for vehicle features that may revolutionize automation.

ZF Friedrichshafen, another Tier-One supplier, is not resting on its laurels either. They developed the Smart Camera 6 especially for advanced driver-assistance systems in January 2023. This hail of high-tech cameras may mark a tipping point towards better visual perception in ADAS.

Table Of Contents

1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Advanced Driver Assistance Market Segmentation, By Vehicle Type
8. Advanced Driver Assistance Market Segmentation, By System Type
9. Advanced Driver Assistance Market Segmentation, By Electric Vehicle Type
10. Advanced Driver Assistance Market Segmentation, By Level of Autonomy
11. Advanced Driver Assistance Market Segmentation, By Offerings
12. Regional Analysis
13. Company Profiles
14. Use Cases and Best Practices
15. Conclusion

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