Market Size of Advanced Driver Assistance Systems Industry
| Study Period | 2018 - 2028 |
| Market Size (2023) | USD 49.65 Billion |
| Market Size (2028) | USD 107.47 Billion |
| CAGR (2023 - 2028) | 16.70 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Advanced Driver Assistance systems Market Analysis
The Advanced Driver Assistance Systems Market size is estimated at USD 49.65 billion in 2023, and is expected to reach USD 107.47 billion by 2028, growing at a CAGR of 16.70% during the forecast period (2023-2028).
The COVID-19 pandemic had a negative impact on the market studied as lockdowns and trade restrictions 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.
Growing production of vehicles with integrated ADAS features in the wake of rising awareness toward comfort and safety of passengers and government regulations mandating safety features are expected to drive demand in the market. Moreover, the rising acceptance of self-driving or automated vehicles further contributes to the enhanced growth of the market. The dynamics of the global automotive industry are also changing rapidly.
Mid-price segment cars are equipped with basic components that have been designed and manufactured according to consumer preferences. A consistent increase in the demand for compact and mid-sized automobiles equipped with advanced safety features is also expected to propel the growth of the automotive ADAS market.
Established and emerging market participants are generating new sources of revenue in target countries, such as the U.S., India, China, Germany, and France, expected to enhance demand across Asia-Pacific, North America, and Europe. Further, demand in the regions is driven by government regulations.
