The global advanced driver assistance system market size is projected to reach USD $58.7 billion by 2030, registering a CAGR of 18.2% from 2022 to 2030, according to a study conducted by Grand View Research, Inc.

The growing government initiatives toward deploying driver assistance systems to mitigate road accidents are anticipated to contribute to the market growth. The surge in the adoption of advanced driver assistance system (ADAS) in small cars is anticipated to further boost the growth of the market over the forecast period.

Key Insights and Findings from the Report:

• The autonomous emergency braking system segment is estimated to expand at a CAGR of 21.0% over the forecast period.
• The response for ADAS processors is predicted to grow at a considerable rate over the forecast period.
• The Asia Pacific market is anticipated to witness substantial growth over the forecast period owing to several developments across major economies, especially China. The regional market is projected to expand at a CAGR of 19.6% from 2022 to 2030.
• Key players dominating the market are Hyundai Mobis; Continental AG; Autoliv Inc.; Mobileye; and Magna International among others.

Advanced Driver Assistance System Market Growth & Trends

Increasing levels of technological innovation and surge in the initiatives undertaken toward self-driving cars and vehicle automation have elevated the demand for driver safety and assistance systems over the past decade, says Grand View. For instance, the European Union has mandated automotive manufacturers to fit ADAS systems, including Autonomous Emergency Braking Systems (AEBS) and Lane Departure Warning Systems (LDWS), in all heavy commercial vehicles that weigh more than 7,000 kilograms.

The demand for ADAS technologies such as road sign recognition systems, drowsiness monitoring systems, and night vision systems is expected to increase considerably over the forecast period. Tire pressure monitoring systems are also projected to have substantial penetration in the overall market due to their easy aftermarket availability and low prices. Adaptive cruise control offers better driver safety and aids in avoiding fatal road accidents. All these factors are expected to propel market growth by 2030, says the research firm.

The sensor segment accounted for the largest market share of more than 30% in 2021, according to Grand View’s research. The automotive industry is witnessing an increase in self-driving vehicles on road. These vehicles demand a blend of a large number of sensors such as Lidar, cameras, ultrasonic sensors, and radar for accomplishing different operations accurately. Thus, the demand for sensors is projected to increase significantly over the forecast period. Among the various sensor types, Lidar sensors are expected to gain high traction by 2030 owing to their crucial function in self-driving cars.

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