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ADAS Market: Rising Trends, Latest Technologies

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ADAS Market: Rising Trends, Latest Technologies

August 10
18:56 2022

According to the new market research report ADAS Market by System (ACC, DMS, IPA, PDS, TJA, FCW, CTA, RSR, LDW, AEB, & BSD), Component (Radar, LiDAR, Ultrasonic, & Camera Unit), Vehicle (PC, LCV, Bus, & Truck), Level of Autonomy (L1, L2&3, L4, L5), Offering, EV, and Region – Global Forecast to 2030″,  Published by MarketsandMarkets™, The global ADAS market is projected to grow at a CAGR of 11.9% during the forecast period, to reach USD 74.9 billion by 2030.

The key growth drivers of the market are the increasing stringency of vehicle safety regulations, upcoming safety mandates, and increasing demand for a comfortable driving experience.

The ADAS Market is dominated by global players such as Robert Bosch (Germany), Continental AG (Germany), ZF Friedrichshafen (Germany), Denso (Japan), Aptiv (UK), Valeo (France), and Magna International (Canada).

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The truck segment will be a key market for ADAS

Trucks are the backbone of the logistics industry in major countries. Major reliance on trucks has encouraged lawmakers to establish safer and less fatigue-inducing driving conditions by standardizing more ADAS features. For instance, the European Union has mandated vulnerable road user detection and warnings, especially for trucks and buses. In addition, intelligent speed assistance will become standard in all vehicles, including trucks, in Europe by 2022. Such mandates will help the growth of the truck segment of the ADAS Market during the forecast period.

Trucks are significantly popular and a major revenue source for OEMs such as AM General and Ford in the US. These OEMs offer a wide range of these trucks to attract more consumers. In heavy-duty trucks, the driver is required to travel longer distances; hence, there is a chance of fatigue, which can cause road accidents. OEMs have therefore started focusing on installing ADAS applications in heavy- and medium-duty trucks. Major truck manufacturers such as MAN, IVECO, and Mercedes-Benz offer ADAS features for a safer driving experience. Bosch and Continental offer a wide variety of ADAS solutions specially targeted at commercial vehicles.

An increase in safety awareness and demand for driving comfort among consumers will be prominent factors for the growth of the truck segment in the ADAS Market. For instance, Ambarella Inc (US), an artificial intelligence vision silicon company, formed a partnership with Arrival (Luxembourg) electric vehicle manufacturers to develop modules for autonomous driving and ADAS features in Arrival’s vans and buses. The need for safety during travel is the current necessity of the market; for this, companies are working on platooning technology, which prevents accidents by human error. Platooning also enables fuel-saving and environmental protection. Companies such as Volvo Trucks and FedEx have partnered to test truck platooning technology with an aim to reduce fuel usage as well as connect trucks by driving in convoys to improve safety.

The Asia Pacific ADAS market is projected to hold the largest share by 2030.

China, South Korea, and Japan account for the largest share of the ADAS market in the Asia Pacific region. The growth of the market in the Asia Pacific can be attributed to the high vehicle production and increased use of advanced electronics in Japan, South Korea, and China. The governments of these countries have recognized the growth potential of the automotive industry and have consequently taken different initiatives to encourage major OEMs to enter their domestic markets. Several European and American automobile manufacturers such as Volkswagen (Germany), Mercedes Benz (Germany), and General Motors (US) have shifted their production plants to developing countries.

Major ADAS solution providers such as Robert Bosch (Germany), Continental (Germany), and Denso (Japan) have production facilities across the region. Despite the slowdown in vehicle sales due to the COVID-19 pandemic, existing safety mandates would surely boost the penetration of ADAS features in upcoming vehicles. For instance, China mandated TPMS in vehicles in 2019. The country is also considering mandating automatic emergency braking during the forecast period. In addition, the Chinese government released multiple measures to boost economic recovery, including stabilizing domestic consumption, supporting new energy vehicle development, and other monetary and fiscal policies. As a result, the auto industry is projected to show significant improvement in the second quarter of 2020. Economic assistance, upcoming mandates, and the growth of Chinese OEMs would drive the demand for ADAS in the country.

Japan is a key market for advanced electrical and electronic components in the Asia Pacific region. The Ministry of Land, Infrastructure, Transport and Tourism (MLITT) announced plans to mandate AEB for all new passenger cars by November 2021. Existing models will have this feature by December 2025, while all imported vehicles will have AEB by June 2024. The Ministry for Road Transport and Highways (India) planned to adopt ADAS features by 2022. Features such as electronic stability control and automatic emergency braking have been considered in the first phase. Tier 1 manufacturers such as Continental are collaborating with OEMs in India to support the implementation by 2022-2023.

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Europe is the largest ADAS Market in 2020

Stringent safety regulations are expected to drive the demand for ADAS in Europe. France is one of the fastest-growing markets for ADAS in Europe. In 2018, France contributed approximately 12% to the total vehicle production in the region as per the European Automobile Manufacturers Association. Several safety mandates have been implemented by the French government. For instance, in 2015, the government made it compulsory to install automatic emergency braking (AEB) and lane departure warning (LDW) in all new heavy trucks.

The increasing production and sales of luxury vehicles due to strong economic growth play a major role in Germany. Major German OEMs such as Volkswagen and Daimler AG have incorporated advanced features to enhance the driving experience. These OEMs offer most ADAS features as standard in their premium segment vehicles. In mid-segment SUVs and sedans, essential ADAS features are offered under additional packages.

Recent Developments:

  • In the year 2021 Robert Bosch (China) Investment Ltd., (Bosch China) developed an automated valet parking with Hycan Automobile Technology. This technology will be installed in Hycan Z03. When the driver activates the automated valet parking function on the smartphone, the vehicle will automatically drive to the parking lot as commanded and park at the destinated location by accurately identifying the direction while avoiding obstacles. The automated valet parking technology is categorized under Level-4 autonomous driving.
  • In the year 2021 ZF launched its next-generation mid-range radar to support advanced ADAS functions and enhance the available ZF coASSIST semi-automated system on the Dongfeng Aeolus Yixuan MAX in China. ZF’s mid-range radar is a high-performance 77GHz front radar designed to meet 2022+ Euro NCAP 5-Star Safety Ratings and enable semi-automated driving functions.
  • In the year 2021 ZF and Mobileye were selected by Toyota Motor Corp. to develop Advanced Driver Assistance Systems (ADAS) for multiple vehicle platforms in the next few years. As part of the agreement, ZF, one of the world’s number one producers of automotive cameras driven by Mobileye technology, will also supply its Gen21 mid-range radar and be responsible for the integration of camera and radar in Toyota vehicles.
  • In February 2020, Veoneer was selected to supply active safety systems based on next-generation vision and radar systems. Veoneer’s scalable system has been developed to meet Euro NCAP 5-star safety rating as well as provide several driver assistance features such as highway assist, lane centring control, stop and go adaptive cruise control, automatic emergency braking, traffic sign recognition, and automated high beam control.
  • In February 2020, Continental announced a new production plant for ADAS in Texas, US, with an investment of USD 109 million over the next 3 years. The new production facility will manufacture radars from 2021.
  • In January 2020, ZF launched ZF coASSIST, a Level 2+ automated driving system, which is its first step into the modular Level 2+ hardware and software suite and highlights ZF’s capabilities as a full system supplier. From 2020, ZF will equip production vehicles with this new ZF system for a major Asian manufacturer.

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