Market Size of Advanced Driver Assistance Systems Industry
| Study Period | 2018 - 2028 |
| Market Size (2024) | USD 49.65 Billion |
| Market Size (2029) | USD 107.47 Billion |
| CAGR (2024 - 2029) | 16.70 % |
| Fastest Growing Market | Europe |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Advanced Driver Assistance Systems Market Analysis
The Advanced Driver Assistance Systems Market size is estimated at USD 49.65 billion in 2024, and is expected to reach USD 107.47 billion by 2029, growing at a CAGR of 16.70% during the forecast period (2024-2029).
The growing production of vehicles with integrated ADAS features in the wake of rising awareness toward the comfort and safety of passengers and government regulations mandating safety features may drive demand in the market. The rising acceptance of self-driving or automated vehicles further contributes to the enhanced growth of the market. The dynamics of the global automotive industry are also changing rapidly.
Cars in the mid-price segment are equipped with basic components designed and manufactured according to consumer preferences. A consistent increase in the demand for compact and mid-sized automobiles equipped with advanced safety features is also expected to propel the growth of the automotive ADAS market.
ADAS technology helps cut maintenance costs. It helps with brake wear and tear and tires relative to the vehicle operating more smoothly. The European Union applied the Vehicle General Safety Regulation, introduced a range of mandatory advanced driver assistant systems to improve road safety, and established the legal framework for the approval of automated and fully driverless vehicles, which will be applied to all new vehicles from July 07, 2024.
Established and emerging market participants are generating new sources of revenue in target countries such as the United States, India, China, Germany, and France, which may improve demand across Asia-Pacific, North America, and Europe. Demand in the regions is also being driven by government regulations.
In 2022, Navya, the French provider of Level 4 autonomous mobility technology for transporting people and goods, announced its plans to expand the geographical presence of its autonomous electric shuttles in the Middle East, Japan, the United States, and Scotland.
Thus, such developments are expected to have a positive impact on the market.
