Shaping the Future: ADAS & Autonomous Driving Components Market Trends and Forecasts for 2028

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Sep 6, 2024 - 12:35
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Shaping the Future: ADAS & Autonomous Driving Components Market Trends and Forecasts for 2028

Global ADAS & Autonomous Driving Components Market Overview:

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. Most of the market is likely to be driven by the swiftly improving economic conditions of people & their rising inclination toward connected & autonomous cars for enhanced comfort & convenience, coupled with strict government mandates for automakers to include advanced safety features like ADAS (Advanced Driver Assistance Systems) in their vehicles.

Key Findings of the Study: ADAS & Autonomous Driving Components market

Growth Restraint: High Repair Costs & Data Misinterpretation Issues Associated with ADAS

ADAS often miscalculates or misinterprets the outside data due to challenging weather or light conditions. It, in turn, results in users facing issues while driving, i.e., the main challenge to the widespread adoption of this technology. Moreover, the high repair cost associated with the application of ADAS is another aspect that poses questions in the minds of potential end users. Hence, these factors are projected to hamper the growth of the Global ADAS & Autonomous Driving Components Market during 2023-28.

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Scope of the ADAS & Autonomous Driving Components Market Report 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

-By Components Type

  • Camera
  • Radar
  • Ultrasonic Sensors
  • LiDAR
  • Electronic Control Unit

-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)

For more detailed information about the ADAS & Autonomous Driving Components market report, click here – https://www.marknteladvisors.com/research-library/global-adas-autonomous-driving-components-market.html

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. It owes to the ever-increasing consumer demand for safer, more efficient, & convenient driving experiences, their increasing disposable incomes, and the rising penetration of connected cars & EVs, especially in China & Japan. Several automotive OEMs are actively working on expanding their production volume and bringing technological advancements in manufacturing facilities to meet ever-evolving consumer requirements.

Recent Developments in the Global ADAS & Autonomous Driving Components Market

  • 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.

Current Landscape of ADAS & Autonomous Driving Components Market

The report delineates key market participants and thoroughly assesses their strategic approaches, trends, innovations, and manufacturing infrastructure, enabling a forecast of their market impact over the next five years. The meticulously researched data presented holds the potential to distinguish even nascent market entrants in the long term. Armed with pertinent data and actionable insights, our research report delivers a comprehensive overview of the market, empowering investors and stakeholders to establish a robust presence in the ADAS & Autonomous Driving Components market. The research report profiles major players, including

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  • Analog Devices Inc.
  • Autoliv Inc
  • Continental AG
  • Delphi Automotive PLC
  • DENSO Corporation
  • HERE
  • IBEO Automotive Systems GmbH
  • Infineon Technologies AG
  • Intel Corporation
  • LeddarTech

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