According to our new research study on "Automotive Advanced Driver Assistance Systems (ADAS) Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Sensor Type, Technology Type, and Vehicle Type," the automotive advanced driver assistance systems (ADAS) market share is projected to reach US$ 183,814.84 million by 2028 from US$ 43,138.44 million in 2021; the automotive advanced driver assistance systems (ADAS) market is estimated to grow at a CAGR of 25.4% from 2021 to 2028.

The Automotive Advanced Driver Assistance Systems (ADAS) market is expected to grow during the forecast period, driven by the increasing demand for safety and driving comfort features. The adoption of advanced safety technologies in vehicles aims to automate and enhance different aspects of the driving experience, reducing the risk of human errors and improving driver safety and behavior. By minimizing the number of traffic accidents, ADAS systems can lower the number of vehicular casualties and reduce insurance claims resulting from minor collisions. The integration of ADAS technology with popular automotive systems, such as vision/camera, using field-programmable gate arrays (FPGA)/state of charge (SoC) and automotive sensors can improve situational awareness and control, making driving easier and safer. As the largest and most frequently used connected system among customers, cars play a vital role in the ADAS market.

Increasing awareness of car safety ratings and lower component prices due to the widespread use of cameras and radars are driving the growth of the ADAS market. Major automakers are adopting ADAS systems to achieve higher safety ratings and attract more customers by offering navigational alerts like automated lighting, adaptive cruise control, and pedestrian accident avoidance mitigation (PCAM) to enhance driver safety. As a result, top automakers are either standardizing safety systems across models or offering them as options. The demand for components such as cameras, radar, ultrasonic, and LiDAR is increasing due to the rising penetration of ADAS technology in the automotive industry.

In 2020, North America, including the US, Canada, and Mexico, experienced a significant rise in COVID-19 cases. This led to the shutdown of most manufacturing plants and a deceleration in municipal functions, resulting in a halt in the automotive industry's growth, including the ADAS market.

Automotive advanced driver assistance systems (ADAS) solution providers, including Continental AG and Robert Bosch, halted their manufacturing operations due to disruptions in the supply chain and weak demand in North America. In 2020, several manufacturers of ADAS systems and other aftermarket components in the automobile industry experienced a decline in performance during the first quarter. The automotive suppliers encountered similar challenges to the manufacturers in 2020 and faced new challenges in 2021. Therefore, Volkswagen AG and Toyota Motors called on the US government to create loan and guarantee programs for large employers, medium-sized manufacturers, and small businesses as part of the new AUTO strategy in 2021. Volkswagen intends to capitalize on this potential in the US by leveraging its strong brands and advanced technology platforms in the automotive advanced driver assistance systems (ADAS) market.

Key Findings of Study:

The global market for automotive advanced driver assistance systems (ADAS) is divided into five key regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). The growth of the automotive ADAS market in North America can be attributed to factors such as technological advancements, the presence of major companies, higher adoption rates of new technologies, the growth of manufacturing infrastructure, and improving economic conditions. The region also has a high incidence of road accidents and a growing demand for advanced safety technologies in high-end vehicles in countries like the US and Canada. In February 2020, Continental expanded its operations in the US by building a new plant for advanced driver assistance systems.

In Europe, the European Union (EU) has set a target to eliminate road fatalities by 2022 after several fatal accidents involving commercial vehicles. The EU has proposed mandating critical safety systems such as lane departure warning, forward collision warning, and blind-spot detection systems in new passenger cars in multiple countries to reduce fatalities. The EU has also set a goal to eliminate all traffic fatalities by 2050 and has made advanced safety systems such as emergency braking and lane departure warning mandatory for large vehicles. Scania AB introduced electrically assisted steering (EAS) in November 2020 to enhance driving safety in the automotive ADAS market.

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