According to MarkNtel Advisors study the Global ADAS & Autonomous Driving Components Market is expected to grow at a CAGR of around 21% during the forecast period, i.e., 2023-28.
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Key Findings of the Study: ADAS & Autonomous Driving Components market
Key Driver: Stringent Safety Standards & the Mounting Demand for Autonomous Vehicles
Governments of various countries worldwide are mandating the integration of advanced safety features in vehicles, such as LDW (Lane Departure Warning) & AEB (Automatic Emergency Braking), to provide drivers with enhanced safety & comfort and reduce the rising number of road accidents. Several consumers are showing greater interest in autonomous vehicles integrated with advanced technologies like LiDAR, radar sensors, ultrasonic sensors, & HD cameras for data collection that help increase driving accuracy. These ongoing trends in the automotive sector are the major aspects projected to drive the Global ADAS & Autonomous Driving Components Market during 2023-28.
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Scope of the Report and ADAS & Autonomous Driving Components Market Segmentation:
By Level of Automation
- Level 1 (Advanced Driving Assist Systems)
- Level 2 (Partial Automation)
- Level 3 (Conditional Automation)
- Level 4 (High Automation)
- Level 5 (Full Automation)
By Vehicle Type
- Passenger Car
- Commercial Vehicle
- Light Commercial Vehicle
- Medium Weight Commercial Vehicle
- Heavy Commercial Vehicle
- Ultra Heavy Commercial Vehicle
By Components Type
- Camera
- Radar
- Ultrasonic Sensors
- LiDAR
- Mechanical Automotive LiDAR
- Solid State Automotive LiDAR
- Electronic Control Unit
Here, LiDAR is projected to attain a notable market share in the coming years.
By System
- Adaptive Cruise Control (ACC)
- Adaptive Front Light (AFL)
- Automatic Emergency Braking (AEB)
- Blind Spot Detection (BSD)
- Cross Traffic Alert (CTA)
- Driver Monitoring System (DMS)
- Forward Collision Warning (FCW)
- Intelligent Park Assist (IPA)
- Lane Departure Warning (LDW)
- Night Vision System (NVS)
- Pedestrian Detection System (PDS)
- Road Sign Recognition (Rsr)
- Tire Pressure Monitoring System (TPMS)
- Traffic Jam Assist (TJA)
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ADAS & Autonomous Driving Components Market Competitive Landscape
- Analog Devices Inc.
- Autoliv Inc
- Continental AG
- Delphi Automotive PLC
- DENSO Corporation
- HERE
- IBEO Automotive Systems GmbH
- Infineon Technologies AG
- Intel Corporation
- LeddarTech
ADAS & Autonomous Driving Components Market Development:
- In February 2023, ZF Friedrichshafen AG launched OnTraX Lane Keeping Assist Technology, combined with ReAX adaptive steering, for 2023 PACCAR Trucks to help enhance fleet efficiency & driver safety.
- In February, Valeo & the BMW Group announced to co-develop fully-automated parking technologies up to Level 4. Earlier on 28 June 2022, both companies entered into a partnership under which Valeo will provide the ADAS domain controller, sensors, & software for parking & manoeuvering for BMW’s next-generation modular ‘Neue Klasse’ platform for EV, which are expected to launch in 2025.
- In February 2022, Opsys-Tech announced that it will supply LiDAR systems to a Germany-based automotive parts supplier, HASCO Hasenclever GmbH + Co KG based, for inclusion in vehicle production as early as 2023 or 2025.
Geographical Analysis:
By Region
- North America
- South America
- Asia-Pacific
- Europe
- Middle East & Africa
Of all regions globally, Asia-Pacific is expected to acquire a prominent share of the ADAS & Autonomous Driving Component Market during 2023-28.
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