Automotive ADAS Sensors Market To Grow By $30.53B

The automotive ADAS sensors market is expected to grow by $30.53 billion during 2021-2025, according to the new report from Technavio. This marks a significant market slow down compared to the 2020 growth estimates due to the impact of the COVID-19 pandemic, in the first half of 2020. In addition, the report projects the market to accelerate at a CAGR of almost 22%.

According to Technavio, the automotive ADAS sensors market is driven by the increased accuracy in perceiving the environment through the sensor fusion technique. In addition, the regulations pertaining to safety systems are anticipated to boost the growth of the Automotive ADAS Sensors Market.

In modern vehicles, advanced safety systems are designed in such a way that there is a limited information exchange. The sensor fusion technique combines the information generated by multiple sensors. This technique ensures the effective functioning of the ADAS system by minimizing the drawback of each sensor. The sensor fusion technique focuses on multiple inputs from numerous sensors, which leads to effective environmental perception. The sensor fusion concept is gaining significant interest among automotive OEMs. The technology is incorporated in luxury vehicles and is expected to penetrate mass-segment vehicles. These factors will drive the global automotive ADAS sensors market during the forecast period.

Major Five Automotive ADAS Sensors Companies:

Continental AG: Continental AG offers ADAS with features such as Adaptive Cruise Control Stop & Go, Traffic Jam Assist, EBA, and other features.
FLIR Systems Inc.: FLIR Systems Inc. offers ADAS using cost-effective thermal cameras.
HELLA GmbH & Co. KGaA: HELLA GmbH & Co. KGaA offers Hella-Gutmann – 360° calibration for advanced driver assistance systems.
LeddarTech Inc.: LeddarTech Inc. offers LiDAR technology for ADAS.
ON Semiconductor Corp.: ON Semiconductor Corp. offers image sensors for ADAS.

To view the full report, visit: https://www.technavio.com/report/automotive-adas-sensors-market-industry-analysis.