Market Size of Asia-Pacific Automotive Advanced Driver Assistance Systems Industry
|2019 - 2029
|Base Year For Estimation
|Forecast Data Period
|2024 - 2029
|Historical Data Period
|2019 - 2022
*Disclaimer: Major Players sorted in no particular order
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APAC Automotive Advanced Driver Assistance Systems Market Analysis
The Asia-Pacific Automotive Advanced Driver Assistance Systems Market is valued at USD 16.15 Billion in 2021 and is expected to reach USD 40.92 Billion in 2027, registering a CAGR of 16.96% during the forecast period (2022-2027).
The COVID-19 pandemic had a massive impact on the market as lockdowns and trade restrictions have led to supply chain disruptions and a halt of vehicle production across the world. However, as restrictions eased, players started focusing on mitigating such risks and developments to create momentum in the market during the forecast period.
Growing production of vehicles with integrated ADAS features in the wake of rising awareness toward comfort and safety of passengers and government regulations mandating safety features are expected to drive demand in the market. Moreover, the rising acceptance of self-driving or automated vehicles further contributes to the enhanced growth of the market.
Additionally, technological advancements in advanced driver assistance systems and a growing emphasis on multifunctional systems create lucrative opportunities for players in the market.