ADAS Market Expected to Reach $134.9 billion by 2027

The ADAS market is estimated to be USD 20.2 billion in 2017 and is projected to reach USD 91.8 billion by 2025, at a CAGR of 20.96% from 2018 to 2025.

(EMAILWIRE.COM, July 12, 2019 ) According to the new market research report “ADAS Market by System (ACC, AFL, DMS, NVS, IPA, PDS, TJA, FCW, CTA, RSR, LDWS, AEB, & BSD), Component (Radar, LiDAR, Ultrasonic, and Camera Unit), Vehicle (PC, LCV, Buses, & Trucks), Offering (Hardware, Software), EV, and Region - Global Forecast to 2027" The advanced driver assistance system (ADAS) market is estimated to be USD 30.0 billion in 2019 and is projected to reach USD 134.9 billion by 2027, at a CAGR of 20.7%.

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Key Players of Smart Transportation Market

The report analyzes all major tier I suppliers in the ADAS market. Robert Bosch (Germany), Continental (Germany), ZF Friedrichshafen (Germany), Intel (US), and Aptiv (UK) are some of the leading suppliers in the ADAS market.

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Radar sensor is the fastest growing segment of ADAS market, by component

The increased traffic congestion, roadways infrastructure, and government regulations for vehicle safety will drive the growth of various radar-based ADAS applications. The rising trend of autonomous and semi-autonomous vehicles in the automobile industry is projected to be another major driver for the global automotive radar market. The increased traffic congestion, infrastructure roadways, government regulations for vehicle safety, and adoption of automotive radar-based ADAS technology by OEMs has eventually created opportunities for various radar-based ADAS applications.

Hybrid Electric Vehicle (HEV) to acquire the largest share of ADAS market, by electric vehicle type

HEV is estimated to hold the largest share of the ADAS market, by electric vehicle. Stringent emission norms, environment safety, vehicle electrification, and government regulations are expected to boost the market for ADAS in HEV segment. ADAS is installed in HEVs for increasing passenger safety and also mitigate imminent accidents. Hence, increase in demand for safer, efficient, and convenient driving experience will propel the demand of ADAS.

Hyundai Ioniq and Toyota Prius are the top selling hybrid cars. Hyundai Ioniq is fitted with ADAS features such as adaptive cruise control, automatic emergency braking, and lane departure warning. Toyota Prius is equipped with ADAS as pedestrian detection system, adaptive front light, collision avoidance system, adaptive cruise control, intelligent park assists, and lane departure warning.

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Asia Pacific: The largest market for the ADAS market

The Asia Pacific region is estimated to hold the largest share, by value, of the ADAS market in 2018. The safety regulations are present in a few Asia Pacific countries such as Japan and South Korea, and demand in these countries is anticipated to be on a rise for the next 5 years. Countries such as China, South Korea, and Japan are estimated to come up with the vehicle and road safety regulations regarding installation of ADAS in vehicles due to growing population as well as vehicle demand.