Market Size of North America ADAS Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 16.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North American ADAS Market Analysis
Currently, the North American ADAS Market is valued at USD 9.22 billion and is expected to reach USD 22.92 billion and grow at a CAGR of 16.54 % in the next five years.
Since automotive manufacturers have resumed operations due to steadily rising automobile sales in countries with a limited number of COVID-19 cases, the market is likely to recover during the forecast market. Furthermore, the manufacturers are implementing contingency plans to mitigate future business uncertainties to retain continuity with clients in the critical sectors of the automobile industry.
Over the long term, increasing investments in R&D by major industry players, entry of many new startups and technology companies in the ADAS industry, and a rise in sales of electric and autonomous vehicles as well as the advent of robo taxis and autonomous commercial vehicles are creating demand in the automotive and transportation industry with a surge in sales of cars installed with ADAS systems.
Key players in the market are expanding their R&D efforts, engaging in mergers and acquisitions, and developing new technologies' production capacity to cater to the increased demand for ADAS systems. For instance,
- January, 2022: Aptiv Plc signed a definitive agreement to acquire Wind River from TPG Capital for USD 4.3 billion in cash. Wind River is a global leader in developing and delivering software for the intelligent edge, catering to aerospace and defense, telecommunications, manufacturing, and automotive industries.
Thus, the development of new ADAS technologies, rising sales of electric and autonomous vehicles, entry of many new startups and technology companies, and various activities undertaken by the incumbent players for their business expansion are expected to drive the North American ADAS market during the forecast period. (2022-2027).
