ADAS Technology Market to Witness Major Growth by 2028 : Aptiv, Autoliv, Velodyne Lidar
Published Via 11Press : According to HTF MI, “Global ADAS Technology Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2029″. The Global ADAS Technology Market is anticipated to grow at a compound annual growth rate (CAGR) of 10.7% from 2023 to 2028, reaching USD 27.23 Billion in 2023 and USD 46.40 Billion by 2028.
Advanced Driver Assistance Systems (ADAS) aid in preventing human error, which accounts for the majority of car accidents. ADAS technology helps to minimise fatalities and injuries by reducing the frequency of car crashes and the severity of those that cannot be avoided. These life-saving systems are necessary for ADAS technology to function effectively.
They offer real-time multimedia, vision coprocessing, and sensor fusion subsystems by utilising a variety of vision-based algorithms and the most modern interface standards. The modernization of ADAS technology is the first step towards the realisation of driverless vehicles. Advanced Driver Assistance Systems (ADAS) work to reduce driver error, which is the main cause of the majority of car accidents. ADAS technology works to reduce the incidence of auto accidents and the severity of those that cannot be avoided, hence preventing fatalities and injuries.
These life-saving systems are necessary for the effectiveness of ADAS technology. To enable real-time multimedia, vision coprocessing, and sensor fusion subsystems, they employ a variety of vision-based algorithms and the most modern interface standards. Modernising ADAS technology is the first step in making autonomous vehicles a reality.
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Key Developments in the Market:
TriEye and Major Tier 1 Hitachi Astemo collaborated on January 20, 2022, to speed the deployment of cutting-edge ADAS technology. The first Short-Wave Infrared (SWIR) sensor technology for mainstream use was created by TriEye, who recently announced a relationship with Tier 1 automotive supplier Hitachi Astemo.
The companies will work together to hasten the rollout of TriEye technology, which will greatly enhance ADAS’s capabilities in inclement weather and low-light conditions. Aptiv presented a state-of-the-art complex for its Bengaluru Technical Centre on February 7th, 2023. The USD 14 million Technical Centre complex in India, one of its largest locations was formally inaugurated by global technology company Aptiv. With a focus on developing safer, more environmentally friendly, and more connected mobility solutions, the Aptiv Technical Centre in India is an important centre for engineering and software development.
In the presence of Aptiv employees, their families, and members of the global leadership team, the facility was formally opened. The facility serves as a centre of excellence for ADAS platforms and technology as well as digital cockpit solutions.
Regulatory Insights:
The UK has become the first country in Europe to legalise hands-free driving technology. An ADAS system called BlueCruise will lead the way on the nation’s highways.
With the introduction of BlueCruise, automakers are continuing a recent trend in which they are focusing more on ADAS than completely autonomous technologies.
With the introduction of BlueCruise, automakers are continuing a recent trend in which they are focusing more on ADAS than completely autonomous technologies. Instead of an automated driving system, BlueCruise is a driver-assistance system. It is the first ‘hands-free’ invention to be endorsed by the UK.
Key and developing players who have been highlighted as part of the coverage
- Aptiv (United States),
- Autoliv (Sweden),
- Velodyne Lidar (United States),
- Hitachi Astemo (Japan),
- Gentex (United States),
- Veoneer (Sweden),
- Delphi Technologies (United Kingdom),
- Synopsys (United States),
- Robert Bosch (Germany),
- aiMotive (Hungary).
Market Drivers
- Due to internal sensors, such as radar and cameras to assess its surroundings, ADAS technology has experienced tremendous market expansion. In response to what it learns, it either alerts the driver or takes action automatically.
- One of the issues is that ADAS technology becomes an active safety system—meaning the car will “actively” regulate steering or braking—when these detections are combined with a system that does more than merely deliver a warning.
- More sophisticated ADAS technological capabilities can even control steering and propulsion without direct input from the driver in particular circumstances, such as interstate driving or stop-and-go traffic.
Market Trend
- Due to fewer traffic incidents and increased driver safety, ADAS technology is in high demand. According to research by the National Highway Traffic Safety Administration (NHTSA) of the United States, 94% of the occurrences were brought on by human error, with the remaining accidents being brought on by environmental variables and technical faults.
- This increases the significance of ADAS technology. Automatic emergency braking, pedestrian identification, surround view, parking assistance, driver fatigue detection, and gaze detection are all made possible by ADAS technology.
Market Challenges
- Drivers’ excessive dependence on ADAS technology is one issue that makes it dangerous for passengers as well as pedestrians.
- Drivers could also disable the ADAS functions since if the system interprets traffic circumstances properly, it could cause problems for drivers. For instance, if ADAS features judge mistakenly that a car has passed another too closely, they may abruptly reduce or stop a car’s speed, which could be deadly. Another obstacle to ADAS technology adoption is the cost of maintenance and insurance.
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Market Breakdown by Applications:
- Passenger Car,
- Light Commercial Vehicle,
- Heavy Commercial Vehicle
Market Breakdown by Types:
- ACC,
- DMS,
- IPA,
- PDS< TJA,
- FCW,
- RSR,
- LDW,
- AEB,
- BSD
Report Scope
| The Market size value in 2023 | USD 27.23 Billion |
| Revenue Forecast by 2033 | USD 46.40 Billion |
| Growth Rate | CAGR Of 10.7% |
| Regions Covered | North America, Europe, the Middle East and Africa, Latin America, and the rest of the world |
| Historical Years | 2018-2022 |
| Base Year | 2022 |
| Estimated Year | 2023 |
| Short-Term Projection Year | 2028 |
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