Market Size of Europe ADAS Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 16.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Europe ADAS Market Analysis
The European advanced driver-assistance system (ADAS) market was valued at USD 11.08 billion and is expected to reach USD 27.61 billion, registering a CAGR of around 16% during the forecast period.
- The COVID-19 pandemic had a massive impact on the market studied 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.
- Rising concern among the population toward road safety and favorable government regulations are supporting the growth of the ADAS market in the region. For instance, the European Union has announced the installation of advanced safety systems in all new cars from mid-2022 to reduce the number of road fatalities.
- This new regulation has mandated the adoption of advanced driver distraction warning systems, tire pressure monitoring, and intelligent speed assistance, among others, for all ranges of vehicles, adding an opportunity for the advanced driver assistance system market.
- The innovations and developments in the automotive sector of Germany are propelled by the significant investment by the German automotive industry. The country leads in the European region regarding connected car revenue in the safety and driver assistance segment.
- In addition, the legislative body of the Netherlands has granted automotive players to test their autonomous vehicles on the road. The local players in the Netherlands are also working on launching ADAS in the market.
