Global ADAS Market to Reach $97.49 Billion by 2027 at a CAGR of 12.37%

DUBLIN, Oct. 18, 2022 /PRNewswire/ -- The "Global ADAS Market By Vehicle Type (Passenger Car, Commercial Vehicle), By Sensor Type (Radar, Ultrasonic, Camera, and Lidar), By Level Of Autonomy (Level 1, Level 2, Level 3, Level 4, and Level 5), By Function, By Region Competition Forecast and Opportunities, 2027" report has been added to  ResearchAndMarkets.com's offering.

The global ADAS market was valued at USD49.50 billion in 2021 and is forecast to grow at a CAGR of 12.37% to reach USD97.49 billion in the year 2027. ADAS (Advanced Driver Assistance System) is designed for the safety/protection of road users.

Stringent Government Policies

In the world, there are various organizations that are involved in ensuring vehicle safety. These organizations have been steadily incorporating more and more ADAS-related protocols and standards. In Europe, North America, and other parts of the world these organizations are mandating automotive safety measures, and defining, and refining regulations. One such organization is the "Society of Automotive Engineers" (SAE), which is the international authority that releases the standards which are used by 120,000 members all around the world, in the automotive and aerospace domains.

According to this organization, there are some standards related to automated driving and ADAS which are J3016 Taxonomy which is related to On-Road Motor Vehicle Automated Driving Systems, J3134 ADAS Equipped Vehicle Signal and Marking Lights which is at nascent stage.

Increasing Safety Concerns Among the Customers

The advanced driver assistance System (ADAS) is very helpful to improve roadway safety. The EU road accidents database in Europe on average, registered 44 road deaths per million inhabitants in 2021, which represent a 5% increase compared to 2020. On average, around 1.3 million people die each year as a result of road traffic crashes. According to the World Health Organization (WHO), the reason behind the several hundreds of deaths is human error caused due to drowsiness, driving under influence of intoxicants, talking on mobile, etc, while driving the cars.

All these and more factors cause 90% of the road accidents. Seeing these all-factors, car manufacturers are trying to make and develop systems & technologies that will help to make road trips safer, smoother, and more comfortable. The "Advanced Driver Assistance System" (ADAS) is coming up as the main reason, which is reducing the risk of road accident sand increasing the safety of the passengers as it includes the safety systems and advanced technologies to accompany and assist the driver while driving. The currently available ADAS technologies could prevent or mitigate the effects of 1.8 million crashes each year worldwide, thereby protecting up to 10,000 lives per year, according to the Insurance Institute for Highway Safety (IIHS).

Competitive Developments with Manufacturer's Attention On ADAS

Seeing the demand for vehicles having advanced features can help the driver to reduce the chance of an accident. Due to an increase in adaptation of the ADAS in vehicles, many investors are investing in this technology. Companies such as ZF Friedrichshafen AG ("ZF") which is a German-based automotive technology supplier, have recently invested in StradVision company, by taking 6% stake in the company, StradVision is developing AI-powered computer vision technology for autonomous vehicles and advanced driver assist system (ADAS).

Report Scope:In this report, global ADAS market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Global ADAS Market, By Vehicle Type:

• Passenger Car
• Commercial Vehicle

Global ADAS Market, By Sensor Type

• Radar
• Ultrasonic
• Camera
• LiDAR

Global ADAS Market, By Level of Autonomy:

• Level1
• Level 2
• Level 3
• Level 4
• Level 5

Global ADAS Market, By Function:

• Collision Avoidance
• Adaptive Cruise Control
• Lane Departure Warning System
• Rear cross Traffic Assistance
• Emergency Braking
• Intersection Assistance
• Automatic Speed Limit
• Park Assistance
• Others

Global ADAS Market, By Region:

• Europe
• Germany
• Spain
• Russia
• France
• United Kingdom
• Slovakia
• Italy
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Indonesia
• Thailand
• Malaysia
• Vietnam
• North America
• United States
• Mexico
• Canada
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• Iran
• Turkey
• South Africa
• Egypt

Key Topics Covered:

1. Product Overview

2. Research Methodology

3. Executive Summary

4. Impact of COVID-19 on Global ADAS Market

5. Voice of Customer

6. Global ADAS Market Outlook

7. Europe ADAS Market Outlook

8. Asia-Pacific ADAS Market Outlook

9. North America ADAS Market Outlook

10. South America ADAS Market Outlook

11. Middle East & Africa ADAS Market Outlook

12. Market Dynamics

13. Market Trends and Developments

14. Competitive Landscape

15. Strategic Recommendations

Companies Mentioned

• Continental AG
• Robert Bosch GmbH
• Autoliv Inc
• ZF Friedrichshafen
• Aptiv PLC
• AISIN Corporation
• HELLA Gmbh & Co. KGaA
• ARM Limited
• Denso corporation
• Ambarella International LP

For more information about this report visit https://www.researchandmarkets.com/r/54uowk

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SOURCE Research and Markets