Market Size of Latin America ADAS Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.08 Billion |
| Market Size (2029) | USD 2.49 Billion |
| CAGR (2024 - 2029) | 15.78 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Latin America ADAS Market Analysis
The Latin America ADAS Market size is estimated at USD 1.08 billion in 2024, and is expected to reach USD 2.49 billion by 2029, growing at a CAGR of 15.78% during the forecast period (2024-2029).
Advanced driver assistance systems (ADAS) is an intelligent automotive system that provides information inside the vehicle to assist the driver. Such a system can provide information on road congestion levels, blockage, traffic, monitoring, braking, and other warnings. All this is mostly demanded by consumer interest and regulatory policies that help reduce accidents.
Over the longer term period, Mexico and Brazil contribute the highest sales to the ADAS market in the Latin America region. This is attributed to the rising 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 are expected to drive demand in the market.
However, most Latin American countries today are facing an economic downfall, which in turn impacts the growth of the automobile industry. As a result, ADAS technology is yet to make an impact in some regions.
Further, the age of autonomous cars due to the recent advancements in technology and tech-savvy modern demands for drivers as well as passengers will be the main driving factor. RADAR, LiDAR, and Cameras are the largest segment manufactured in the Latin America region. Of all the three, LiDAR sensors have the largest market. It can scan an area in 3-D to produce high-resolution maps of the surrounding locations.
