Anticipated size of the Advanced Driver Assistance Systems (ADAS) Sensors Market in 2022 was USD 28.12 billion and is estimated to be USD 30.53 billion in 2023.
The rise in government regulations for the obligatory implementation of ADAS in vehicles is expected to further drive the demand.
According to Future Market Insights, the ADAS sensors market is predicted to expand at a CAGR of 8.7% between 2023 and 2033, totaling around USD 70.33 billion by 2033.
The global ADAS sensors market is slated to top USD 15 billion in 2022. Increasing preference for enhanced driver comfort and safety in passenger vehicles is expected to boost sales at an impressive 14.1% CAGR over the forecast period, with the market valuation reaching USD 43.2 billion in 2030.
Technological advancements in the automotive sector are paving way for the adoption of DAS sensors as these sensors are being deployed in rear view mirrors, cameras, other parts of the vehicle.
These sensors offer a view of the surroundings, issue alerts regarding obstacles, and help the driver navigate through paths and roadways.
The integration of technologies such as GPS, Bluetooth, and the Internet of Things in ADAS sensors is anticipated to continue driving sales in the market.
Moreover, regulations pertaining to the inclusion of safety devices in passenger and commercial vehicles to alleviate the chances of road accidents might augment the growth in the market in the forthcoming years.
Future Market Insights (FMI) says that sales in the ADAS sensors market accounted for 6-7% of the global sensors market in 2020.
High adoption rate of advanced technologies such as LiDAR, ultrasonic sensors, radar, and high-definition cameras and sensors to collect data to safely maneuver the vehicle is boosting the sales of ADAS sensors across the globe. This growth is particularly seen in East Asia and North America.
Key challenge in front of the manufacturers is the complexity of these sensors which increases the cost of vehicles. However, continuous technical development in the automotive sector is creating growth opportunities for the adoption of ADAS sensors.
Further, incorporation of technologies such as GPS, Bluetooth, and the Internet of Things (IoT) in ADAS sensors is expected to drive market sales.
| Attribute | Details |
|---|---|
| Projected Forecast Value (2022) | USD 28.12 billion |
| Projected Forecast Value (2023) | USD 30.53 billion |
| Projected Forecast Value (2033) | USD 70.33 billion |
| Growth rate | 8.7% CAGR |
| Forecast period | 2023 to 2033 |
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The global advanced driver assistance systems (ADAS) sensors market expanded at a CAGR of 7.4% between 2018 and 2022. Growth forecasts remain optimistic, with the market predicted to exhibit a CAGR of 8.7% between 2023 and 2033.
Demand in the ADAS sensors market is projected to increase at a prolific 14.1% CAGR, in comparison with the 10.1% CAGR registered between 2015 and 2021.
Increasing demand for ADAS systems in passenger and commercial vehicles is anticipated to continue pushing sales in the market. Further, modern vehicles are launched with these systems to cater to the growing need for enhanced safety and comfort in these vehicles.
Manufacturers are investing in technological advancements to cater to the growing demand.
New sensor-based chip is integrated with 491,520 depth 5x5 micron pixels, global shutter, and an estimated depth accuracy of less than 1% of the distance, with the sensor being designed for an optimal distance of 0-200 meters.
The Presence of a Variety of Electronic Monitoring and Controlling Devices
ASAD systems consist of a variety of electronic monitoring and control devices to assist the driver in avoiding collisions. Also, they are equipped with multiple sensors to detect close vehicles and provide information about distance, direction, and speed, enabling the driver to manoeuvre the vehicle through dangerous situations.
Latest systems also implement automotive corrective actions without the driver’s permission. Most vehicles today include ADAS as a standard feature, however, their capabilities vary in response to regulations issued by agencies, and manufacturers are launching sophisticated sensors to reduce collisions.
Guidelines cover issues related to blind spot detection and lane-changing assistance to comply with these regulations. Further, manufacturers are utilizing high-resolution cameras. The availability of low-cost millimeter-wave (mmWave) radar ICs is also enabling the replacement of many conventional sensors.
Driven by such advancements, sales of ADAS sensors are expected to remain high over the forecast period, opines FMI.
Principal Consultant
Rise in Production and Adoption of Autonomous Vehicles
Increasing production and adoption of autonomous vehicles are transforming the mobility solutions sector across the globe. Further, the integration of ADAS technologies in these vehicles is further reducing the complexity of driving by offering features such as stability controls, braking, and lane monitoring.
Autonomous vehicles are being adopted in various sectors such as logistics, transport, healthcare, packaging, and warehousing.
Moreover, vehicles rely on systems and technologies such as LiDAR, ultrasonic sensors, radar, and high-definition cameras and sensors to collect data. Data is analyzed by an onboard platform to maneuver the vehicle safely.
Numerous leading automakers such as Volkswagen, Tesla, General Motors, and Ford are developing autonomous vehicles to simplify industry 4.0 operations in the industrial sector. In March 2018, Nissan announced their plans to launch ProPILOT in 20 models by 2022.
Increasing development and deployment of autonomous vehicles are anticipated to spur demand for advanced ADAS sensors to enable effective controlling capabilities and operations. Also, OEMs are also incorporating cruise control systems and driver assistance in semi-autonomous vehicles, which in turn might fuel the growth in the market.
Automakers are Deploying ADAS Sensor Cameras for Effective Lane Management
FMI mentions demand for ADAS sensors in the United States, which is expected to remain high over the forecast period owing to increasing preference for effective ADAS systems in passenger and light commercial vehicles.
North America’s ADAS sensors market is expected to hold 15.6% of the total market share whereas the United States holds a value share of 14.8%.
The presence of leading automakers such as Tesla, General Motors, Ford, and Nissan is expected to drive sales in the market as these companies are also developing autonomous vehicles for various sectors such as healthcare, pharmaceutical, and logistics, which is expected to bode well for the market.
Stringent regulations pertaining to drivers' safety in passenger, light, and heavy commercial vehicles are anticipated to fuel the growth in the market as these regulations are compelling manufacturers to launch advanced sensor-based technologies to improve comfort and navigation in modern and autonomous vehicles to reduce collisions, which might continue pushing sales over the forecast period.
The Increasing Adoption of ADAS Sensors in Luxury Vehicles might Fuel Growth in the United Kingdom Market
The United Kingdom is expected to emerge as a leading pocket over the assessment period with a market share of 14.2% whereas Germany’s market is said to expand at a CAGR of 8.9% due to the high adoption of ADAS systems in economic and luxury vehicles.
Europe’s ADAS sensors market held a dominant share of 24.3% in the global ADAS sensors market in 2022.
Growing interest in advanced vehicle technologies and ADAS systems among consumers in the United Kingdom is compelling manufacturers to launch innovative sensor-based technologies. These technologies are going to improve sales where safety regulations imposed to ensure optimal safety in passenger vehicles are expected to drive sales of ADAS sensors in the United Kingdom.
General Safety Regulation (GSR)was introduced in the United Kingdom which requires certain ADAS equipment to be installed in specific categories of vehicles over a range of effective dates. Further, new regulation extends these requirements in three stages starting from July 6, 2022.
High Demand for Adaptive Cruise Control is Driving Sales of ADAS Sensors
China is expected to dominate the East Asia ADAS sensors market in the forthcoming years on the back of surging demand for cruise control and driver safety equipment in passenger and autonomous vehicles.
The East Asia ADAS sensors market captured 36.3% of the total market share in 2022. India is said to expand at a CAGR of 7.43% and Australia is estimate to thrive at CAGR of 6.1%
Ongoing expansion of the automotive sector, along with increasing adoption of connective technology-based equipment in new vehicle models might drive the market over the forecast period. Japan is estimated to hold a market share of 17.2%.
Growing advancements in adaptive cruise control and lane management to reduce road accidents and collisions in narrow pathways continue augmenting the growth in the market.
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The Rising Preference for Cruise Control in Modern Vehicles is Likely to Spur Demand for ADAS Sensors
Sales in the cruise control segment are projected to gain traction over the forecast period. Further, the increasing focus on driver’s and passenger safety in passenger and light commercial vehicles is expected to drive sales in this segment holding a market share of 52.4%.
Cruise control systems are equipped with ADAS sensors that collect data related to surroundings, number of vehicles near the car, and potential obstacles to improving the driving experience.
Moreover, leading automakers are investing in the development of technologically advanced cruise control systems and reduced costs, which is expected to push sales of ADAS sensors in the forthcoming years.
Increasing Focus on Passenger Vehicles for Safety is Driving the Adoption of ADAS Radar Sensors
Demand for ADAS sensors in the passenger vehicles segment is forecasted to continue rising over the forecast period as per FMI holding a market share of 49.9%.
Increasing vehicle fleets across the globe is leading to high traffic congestion in various countries, resulting in high chances of collisions and accidents as this is compelling consumers to prefer passenger vehicles with improved ADAS systems for enhanced comfort and safety. This factor is anticipated to drive sales in this segment in the forthcoming years.
A Wide Availability of ADAS Radar Sensors Offered by OEMs is Going to Boost Sales
Original equipment manufacturer (OEMs) segment is forecasted to expand at a considerable pace over the assessment period owing to the high availability of a wide range of products at affordable prices with a value share of 40.2%.
OEMs are investing in research and development to launch advanced ADAS sensors to be equipped in various parts of the vehicle to improve functions such as cruise control, blind-spot detection, and lane management.
Further, they are also offering customized solutions for new vehicle models, which are expected to augment the growth in the market.
Some of the prominent players profiled in the global market are
Important Developments of the Key Players in the Market
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 8.7% from 2023 to 2033 |
| Market value in 2023 | USD 30.53 billion |
| Market value in 2033 | USD 70.33 billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | USD billion for Value and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | By Product Type, By Vehicle Type, By Sales Channel, By Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East & Africa |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel, Rest of the Middle East and Africa |
| Key Companies Profiled | Continental AG; Robert Bosch GmbH; Denso Corporation; Delphi Technologies PLC; Hella GmbH & Co. KGaA; TE Connectivity; CTS Corporation; NXP Semiconductors N.V.; Microchip Technology Inc.; Infineon Technologies AG; Panasonic Corporation; ZF Friedrichshafen AG; TDK Corporation; Sensata Technologies Holding N.V.; Allegro MicroSystems, LLC; Analog Devices, Inc.; Elmos Semiconductor AG;Valeo S.A.; Autoliv Inc.; STMicroelectronics N.V. |
| Customisation Scope | Available on Request |
The market is estimated to secure a valuation of USD 30.53 billion in 2023.
The market is estimated to reach USD 70.33 billion by 2033.
Cruise control holds high revenue potential.
The United States, Germany, and China dominate the global market.
The market is forecast to register a CAGR of 8.7% through 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Blind Spot Detection 5.2. Night Vision Sensors 5.3. Light Sensors 5.4. Parking Sensors 5.5. Cruise Control 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Vehicle Type 6.1. Passenger 6.2. Commercial 6.3. Heavy Commercial 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 7.1. Original Equipment Manufacturers (OEM) 7.2. Original Equipment Spares (OES) 7.3. Independent Aftermarket (IAM) 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Continental AG 18.2. Robert Bosch GmbH 18.3. Denso Corporation 18.4. Delphi Technologies PLC 18.5. Hella GmbH & Co. KGaA 18.6. TE Connectivity 18.7. CTS Corporation 18.8. NXP Semiconductors N.V. 18.9. Microchip Technology Inc. 18.10. Infineon Technologies AG 18.11. Panasonic Corporation 18.12. ZF Friedrichshafen AG 18.13. TDK Corporation 18.14. Sensata Technologies Holding N.V. 18.15. Allegro MicroSystems, LLC 18.16. Analog Devices, Inc. 18.17. Elmos Semiconductor AG 18.18. Valeo S.A. 18.19. Autoliv Inc. 18.20. STMicroelectronics N.V. 19. Assumptions & Acronyms Used 20. Research Methodology
Automotive
June 2023
REP-GB-283
224 pages
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ADAS Sensors Market
