Automotive ADAS Sensors Market size is set to grow by USD 49.15 bn from 2023-2027, progression toward autonomous vehicles to boost the market growth, Technavio

NEW YORK, May 16, 2024 /PRNewswire/ -- The global automotive adas sensors market  size is estimated to grow by USD 49.15 bn from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of  23.33%  during the forecast period. 

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Key Market Trends Fueling Growth

The automotive ADAS sensors market has witnessed significant growth, with OEMs transitioning from expensive CCD technology to CMOS image sensors in camera modules. CMOS sensors, featuring noise-correction and charge-to-voltage conversion technologies, generate clear images even in adverse conditions. They are essential for various safety systems, including lane assist, blind spot detection, forward collision warning, and pedestrian protection. Additionally, they support advanced features like adaptive cruise control, automatic emergency braking, and night vision systems. The increasing demand for convenience and safety features, vehicle electrification, and automation further boosts the market. Key trends include the use of machine learning, artificial intelligence, and autonomous driving-as-a-service to enhance safety-critical functionality. The market is competitive, with players focusing on technological advancements, memory protection units, and multifunctional sensors to gain a competitive edge. 

Market Challenges

• The automotive ADAS sensor market is characterized by high costs, limiting their incorporation in mass-segment vehicles. Advanced systems like automatic emergency braking and lane departure warning rely on expensive sensors, such as uncooled microbolometers for night vision cameras. These costs stem from manufacturing, sourcing, and marketing expenses. Technological advancements, including machine learning and artificial intelligence, drive the adoption of ADAS systems in luxury and commercial vehicles. Ultrasonic sensors, LiDAR, high-definition cameras, and GPS connectivity are essential components. Magna International and Momenta are among the companies investing in fusion sensor technology, adaptive front lights, cross traffic alert, and other multifunctional sensors for autonomous driving-as-a-service. Proactive measures, such as adaptive cruise control and transceivers, are crucial for road safety in competitive markets. Governments and automakers prioritize safety-critical functionality, and the IT infrastructure supporting these systems is a significant investment. Robo-taxis and autonomous cars are future applications, requiring robust and reliable sensors. Research report provides comprehensive data on impact of trend, driver and challenges - Buy Report

Segment Overview 

This automotive ADAS sensors market report extensively covers market segmentation by

1. Product 
• 1.1 Radar sensor
• 1.2 Image sensor
• 1.3 Ultrasonic sensor
• 1.4 Infrared sensor
• 1.5 LiDAR sensor
2. Application 
• 2.1 Passenger vehicle
• 2.2 Commercial vehicle
3. Geography 
• 3.1 Europe
• 3.2 North America
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Radar sensor-  The automotive industry's focus on enhancing road safety has led to significant growth in the market for automotive ADAS sensors. Radar sensors, in particular, have gained prominence due to their application in various advanced safety systems. These include Adaptive Front-end Lights, Cross Traffic Alerts, and Automatic Emergency Braking Systems (AEBS), which are increasingly becoming standard features in both premium and compact passenger cars. The adoption of radar sensors is also driving the development of advanced technologies such as fusion sensor systems, which combine data from multiple sensors to improve accuracy. Moreover, the shift towards autonomous vehicles and robo-taxis is further fueling the demand for advanced sensor technologies. Governments and automobile manufacturers are investing heavily in ADAS systems, including machine learning and artificial intelligence, to reduce road mishaps and achieve Vision Zero. The integration of IT infrastructure, GPS connectivity, and high-definition cameras is also crucial for the effective functioning of these systems. The market for automotive ADAS sensors is segmented into passenger cars, commercial vehicles, and vehicle electrification. The increasing focus on vehicle automation and economic stability is expected to provide a competitive edge to market players. Traditional ADAS systems, such as lane departure warning and adaptive cruise control, continue to be popular, while new technologies like night vision systems and LiDAR are gaining traction. Magna International and Momenta are among the key players in this market, leveraging their expertise in automotive electronics, sensor technology, processors, software, and speed control systems to offer comprehensive solutions to customers.

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Research Analysis

The Automotive ADAS Sensors Market is experiencing significant growth due to the increasing demand for advanced safety features in compact passenger cars. Economic stability and the rising disposable income of consumers have led to an increase in the purchase of luxury vehicles, which are often equipped with Night vision systems and ADAS systems. These systems include adaptive cruise control, adaptive front lights, cross traffic alert, and LiDAR technology. High-definition cameras and GPS connectivity are also essential components of these systems, which are integrated into the IT infrastructure of automobiles. Governments worldwide are implementing regulations to ensure the mandatory installation of these safety features in new vehicles. The valuation of the market is projected to increase at a substantial speed due to the growing road accidents and the need for enhanced road safety.

Market Research Overview

The Automotive ADAS Sensors Market is experiencing significant growth due to the increasing demand for advanced safety features in vehicles. These sensors play a crucial role in various driver assistance systems such as adaptive cruise control, lane departure warning, blind spot detection, and automatic emergency braking. The market is driven by factors like rising consumer preference for safety and comfort, stringent regulations, and technological advancements. The market is segmented based on sensor types, including LiDAR, radar, camera, and ultrasonic sensors. The future of the market looks promising with the integration of machine learning and artificial intelligence in ADAS systems. The market is expected to grow at a steady pace in the coming years.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Radar Sensor
• Image Sensor
• Ultrasonic Sensor
• Infrared Sensor
• LiDAR Sensor
• Application
• Passenger Vehicle
• Commercial Vehicle
• Geography
• Europe
• North America
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio