ADAS and Autonomous Driving Component Market Anticipated to Reach $XX.XX Billion in 2030, BIS Research Report


Posted April 13, 2022 by harshbisR-0

According to Bis Research, the global market for ADAS and autonomous driving component registered a market value of $23.93 billion in 2019 and is projected to grow at CAGR of 12.21% during 2020-2030.

 
According to Bis Research, the global market for ADAS and autonomous driving component registered a market value of $23.93 billion in 2019 and is projected to grow at CAGR of 12.21% during 2020-2030.

The automated systems in the vehicles are assisting drivers depending on observations of the surroundings. The systems warn the driver of dangerous situations. Moreover, it can also take control of the speed and direction of the vehicle in certain situations. A visible surge can be witnessed in the number of vehicles with automated features such as adaptive cruise control, parking assistance, lane departure warning, traffic jam assist, automated emergency braking, and blind-spot detection. The current generation of ADAS features comprises adaptive cruise control, lane keep assist, lane departure warning, and an advanced emergency braking system. On several roads and under certain conditions, the system allows the vehicle to steer, brake, and accelerate independently; however, the driver must always be alerted to take control of the vehicle when required. These automated features, when combined with telematics and connected car features, will lead to the development of fully autonomous or human-independent vehicles.

The ADAS and autonomous driving component market is driven by several factors such as increasing technological advancements in ADAS systems, rising development in connected infrastructure and intelligent transportation system, increasing demand for driver assistance features in commercial vehicles, and growing concerns and measures taken over road safety.

The growth of ADAS and autonomous driving component market is attributed to the rise in demand for autonomous driving solutions for passenger cars such as auto pilot, lane-departure, and blind-spot detection systems.

Business Dynamics:

The business dynamics section of the report examines the diverse factors that govern the process of manufacturing, distribution, and usage of ADAS and autonomous driving equipment globally. This analysis provides an in-depth understanding of the present and the future directions in which the market is headed and the impact of various factors on the same. This chapter covers the major market dynamics, namely, the drivers, challenges, business strategies, corporate strategies, and the opportunities, analyzing several factors that positively and negatively affect the ADAS and autonomous driving equipment market.

Market Drivers:
Increasing Technological Developments and Advancements in ADAS Systems: Numerous advancements are taking place to improve situational awareness and establish an early warning mechanism for identifying danger and planning accordingly. One of the significant technology trends is the integration of radars and cameras to provide backup for one component in case of malfunctioning of the other component of the system. The multi-purpose camera and radar sensor balance each other perfectly as the radar sensor can measure longitudinal distances and speeds irrespective of the weather conditions, while the multi-purpose camera offers an extremely high level of precision for lateral measurements. Moreover, the LED flicker mitigation mode being implemented in the hardware can capture flickering light sources such as pulsed LED lights from traffic signs, traffic lights, turn, and brake lights without over-saturating the image.

Business Strategies:

The competitive landscape provides an organization the edge to understand the key business strategies in the industry that its current competitors and potential future competitors might have adopted to make their way into the market. This chapter details the recent strategies and developments adopted by the key market players in the global ADAS and autonomous driving component market. To lead the market and engage in market growth, a company needs to bring new products to the market, invest toward its development, and promote it by collaborating with other top tier one companies to further strengthen its market position.

The ADAS and autonomous driving component market is an exponentially growing market holding enormous opportunities for the market players. Some of the strategies covered in this segment are product launches, partnerships and collaborations, business expansions, and investments. The companies' preferred strategy has been mergers and acquisitions and partnerships and collaborations to strengthen their position in the global autonomous vehicle market.

Competitive Landscape and Key Players of ADAS and Autonomous Driving Component Market:
The global ADAS and autonomous driving component market competitive landscape consist of different strategies undertaken by key players across the industry to gain traction and market share presence. Some strategies adopted by the service providers are new product launches, business expansions, mergers, partnerships, and collaborations. Among all these strategies adopted, business expansion is the popular choice of the strategy implemented in the ADAS and autonomous driving component market. Some of the most prominent ecosystem players are Continental AG, Robert Bosch GmbH, Autoliv, Denso Corporation, Aptiv Plc, Texas Instruments, Analog Devices Inc.., Intel Corporation, LeddarTech Inc., Magna International Inc., Quanergy Systems Inc., Velodyne LiDAR, Inc., ZF Friedrichshafen AG, and Valeo.

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Key Questions Answered in this Report:
• What is the size of the ADAS and autonomous driving component market in terms of value and volume, and what is the expected CAGR for the period 2020-2030?
• Which companies are the major players in the ADAS and autonomous driving component market? What are the key market strategies being adopted by them?
• What is the revenue generated by the different ADAS and autonomous driving components such as camera, ultrasonic sensors, radar, LiDAR, and ECU during 2020-2030?
• Which global factors are changing the dynamics of the ADAS and autonomous driving component market?
• What is the revenue generated by the different regions, such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa?

About BIS Research:

BIS Research (Business Intelligence and Strategy Research) is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.

Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.

What distinguishes BIS Research from the rest of the players is that we don’t simply provide data but also complement it with valuable insights and actionable inputs for the success of our clients.

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Last Updated April 13, 2022