Northbrook, IL 60062 -- (SBWIRE) -- 06/07/2023 -- The global ADAS Market was valued at USD 30.9 billion in 2022 and is expected to reach USD 65.1 billion by 2030 at a CAGR of 9.7 % during the forecast period 2022-2030. Software and hardware providers provide ADAS systems such as adaptive cruise control, adaptive front lights, automatic emergency braking, blind spot detection, cross traffic alert, among others to various global OEMs and component manufactures. Factors such as increased demand for road safety and strong government support have caused leading original equipment manufacturers (OEMs) to invest in development of ADAS systems.

Software to be the fastest growing segment during the forecast period

Increasing demand for accurate and faster object recognition will be a major growth driver for the software segment of the ADAS market. Modern vehicles are equipped with high-resolution cameras and long-range radar sensors for driver assistance. Hence, developments in image recognition technology will play a critical role in deploying these sensors in upcoming vehicles. Newer features such as pedestrian recognition, cyclist recognition, vehicle detection, driver monitoring systems, and traffic sign recognition are being tested, and plans to roll them out in more vehicles for improved occupant safety are underway. More sophisticated ADAS features would demand faster and more accurate software algorithms/platforms for detecting objects with low latency. BlackBerry (Canada) has developed QNX as a modular, flexible, and hardware-optimized software platform for ADAS applications. ADAS software consists of algorithms that perform pre-decided functions based on the input data from cameras, radar, LiDAR, and ultrasonic sensors. The input data is processed by the ECUs and activates the physical vehicle components such as steering, brakes, throttle, and others to evade accidents. The entire process is controlled and monitored by the software platform, from analyzing the input data to the decision-making. Automakers are turning toward deep learning as they look for innovative ways to enable smart camera applications and automated driving systems for next-generation vehicles. In December 2020, Renesas Electronics (Japan) developed an R-car software development kit. This complete software platform enables quick and easy software development and offers validation for smart cameras and automated driving applications used in commercial, passenger, and off-road vehicles. It manages the software complexity and supporting features ranging from entry safety compliance to advanced highway pilot.

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L1 autonomy level to be the largest market during forecast period

Level 1 is the lowest level of autonomous driving defined by the Society of Automotive Engineers (SAE). An L1 vehicle can handle either steering or control the speed, not at the same time. The driver controls most of the driving tasks, and the driver assistance system helps the driver with tasks such as lane departure warnings. ADAS features such as adaptive cruise control, lane departure warning, tire pressure monitoring systems, and adaptive front lights are considered under level 1 driving systems. As of 2022, many higher-end mid-tier passenger and luxury vehicles have level 1 autonomous features. Mercedes (Germany), for instance, since 2018 provides level 1 autonomous for its S-class passenger car. Similarly, Toyota's RAV4 has level 1 autonomous features in its 2022 model. Cars such as Jeep Wrangler 4Xe, Renault Arkana, and Nissan Qashqai are also available with level 1 autonomous systems.

"Europe is leading the ADAS market as of 2022"

Automotive is one of the key industries in Europe. In June 2022, the region had 301 automobile assembly and production plants, of which 134 produce passenger cars, 41 produce vans, 52 build trucks, 66 produce buses, 72 make engines, and 18 make batteries. According to the European Automobile Manufacturers Association (ACEA), Europe accounted for around 22% of global vehicle production in 2022. The European automotive market registered steady growth in the last six years despite the recent global automotive slowdown. Leading European automotive manufacturers to offer high-performance engines and advanced safety features to stay competitive. Passenger car sales of major automakers such as the Volkswagen Group, Mercedes Benz, Renault, Hyundai, BMW, Toyota, and Stellantis led to the demand for ADAS-enabled vehicles in the region.

Key Market Players:

The ADAS market is dominated by established players such as Robert Bosch (Germany), Denso (Japan), Continental AG (Germany), Magna International (US), and ZF Friedrichshafen (Germany), among others. These companies provide ADAS components to global OEMs. These companies have set up R&D infrastructure and offer best-in-class products to their customers.

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