Automotive ADAS Sensors Market Size, Share, Growth, and Industry Analysis, By Type (Adaptive Cruise Control (ACC), Lane Departure Warning System (LDW), Park Assist, Blind Spot Detection and Others), By Application (Passenger Car and Commercial Vehicle), Regional Insights, and Forecast To 2032

Updated On: 06 May 2024

AUTOMOTIVE ADAS SENSORS MARKET REPORT OVERVIEW

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global automotive ADAS sensors market size was USD 31200 million in 2022 and market is projected to touch USD 181760.47 million by 2032 at CAGR 19.3% during the forecast period.

Automotive Advanced Driver Assistance Systems (ADAS) sensors are a crucial component in modern vehicles designed to enhance safety, provide convenience, and improve overall driving experience. These sensors employ various technologies to collect data from the vehicle's surroundings and, in some cases, from the vehicle itself. The collected data is then processed to enable features that assist the driver in various aspects of driving.

These sensors use radio waves to detect objects around the vehicle. They are commonly used for adaptive cruise control, collision warning, and blind-spot detection. Cameras capture visual information from the vehicle's environment. They are used for lane departure warning, traffic sign recognition, pedestrian detection, and forward collision warning. LiDAR sensors use laser beams to measure the distance to objects. They are often used in autonomous vehicles and contribute to features like automatic emergency braking and obstacle detection. These sensors use ultrasonic waves to detect objects in close proximity to the vehicle. They are commonly used in parking assistance systems. Infrared sensors can be used for night vision systems, helping drivers see better in low-light conditions.

COVID-19 Impact: Shift in Consumer Priorities to Hinder Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The pandemic disrupted global supply chains, leading to shortages and delays in the production of various components, including automotive sensors. This affected the availability of ADAS-equipped vehicles and the deployment of new technologies. Many automotive manufacturing plants faced temporary closures or reduced production capacities due to lockdowns and restrictions. This resulted in delayed production schedules for vehicles, including those equipped with automotive ADAS sensors. The economic uncertainty and changes in consumer behavior during the pandemic may have influenced purchasing decisions. Consumers may have prioritized essential features over advanced technologies like ADAS, impacting the demand for such features. The pandemic affected research and development activities in the automotive industry. Companies may have reassessed their priorities and budgets, potentially slowing down the development and deployment of new ADAS technologies.

LATEST TRENDS

LiDAR Advancements to Drive Market Growth

There is a growing trend toward incorporating artificial intelligence (AI) and machine learning algorithms into automotive ADAS sensors. This allows for more advanced and adaptive capabilities, such as improved object recognition, better decision-making in complex driving scenarios, and enhanced sensor fusion. LiDAR technology has been evolving rapidly. The automotive industry has seen efforts to reduce the size and cost of LiDAR sensors while improving their performance. Solid-state LiDAR and other innovations aim to make this technology more accessible for widespread use in ADAS and autonomous driving. The trend toward sensor fusion continues, where data from multiple sensors (such as radar, cameras, LiDAR, and ultrasonic sensors) are integrated to provide a more comprehensive and reliable understanding of the vehicle's surroundings. This approach enhances the accuracy of perception systems.

AUTOMOTIVE ADAS SENSORS MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into adaptive cruise control (acc), lane departure warning system (ldw), park assist, blind spot detection and others.

If by "product" you are referring to a specific vehicle model or type, the answer may vary based on factors such as sales volume, market share, or production numbers, which can change over time.  Some of the best-selling passenger cars globally included models like the Toyota Corolla, Ford F-Series (including commercial variants), and the Volkswagen Golf. For commercial vehicles, popular models included the Ford Transit, Mercedes-Benz Sprinter, and the Toyota Hilux.

• By Application

Based on application the global market can be categorized into Passenger Car and Commercial Vehicle.

In recent years, there has been a significant focus on the development and integration of autonomous driving technologies. Both passenger cars and commercial vehicles have been incorporating features such as advanced driver assistance systems (ADAS), lane-keeping assistance, and adaptive cruise control to varying degrees. The application of electric and hybrid technology has been prominent in both passenger cars and commercial vehicles. Electric vehicles (EVs) and hybrid vehicles are becoming increasingly popular as the automotive industry transitions toward more sustainable and environmentally friendly options.

DRIVING FACTORS

Rising Consumer Demand for Safety to Augment the Market

Governments and regulatory bodies around the world are increasingly emphasizing and implementing safety standards for vehicles. ADAS features, facilitated by sensors, play a crucial role in meeting these safety requirements. As regulations evolve, manufacturers are motivated to integrate advanced safety technologies. Consumers are becoming more aware of and concerned about vehicle safety. There is a growing demand for vehicles equipped with advanced safety features that can help prevent accidents and protect occupants. ADAS, with its various sensor technologies, addresses this demand. ADAS sensors contribute to reducing accidents and fatalities on the road. Features such as automatic emergency braking, lane departure warning, and collision avoidance systems use sensors to detect potential dangers and act to mitigate or avoid collisions. Some insurance providers offer incentives or discounts for vehicles equipped with advanced safety features. This encourages both manufacturers and consumers to invest in ADAS technologies, as they can lead to lower insurance premiums.

Technological Integration and Connectivity to Expand the Market

Increased awareness among consumers about the benefits of ADAS technologies contributes to higher demand for automotive ADAS sensors market growth. Manufacturers and industry stakeholders are investing in educating consumers about the advantages of these systems, fostering greater acceptance. The integration of ADAS with other vehicle systems, as well as connectivity features, enhances the overall driving experience. Sensor data can be used not only for safety applications but also for features like adaptive cruise control, parking assistance, and traffic management. ADAS features, such as adaptive cruise control and predictive driving, can contribute to improved fuel efficiency by optimizing driving patterns. As environmental concerns and fuel efficiency become more significant factors, these features gain importance. Automakers see ADAS technologies as a way to differentiate their vehicles in a competitive market. Offering advanced safety features can be a selling point and a competitive advantage, especially in markets where safety is a top priority for consumers.

RESTRAINING FACTOR

Maintenance and Repair Costs to Potentially Impede Market Growth

The cost associated with developing and implementing advanced sensor technologies can be a significant barrier. High-quality sensors, such as LiDAR and advanced radar systems, can be expensive. The additional cost of these sensors can make vehicles equipped with comprehensive ADAS features more expensive for consumers. Advanced sensors are intricate electronic components, and their maintenance and repair can be costly. In the event of a malfunction or damage to sensors, repair expenses may deter some consumers from opting for ADAS-equipped vehicles.

AUTOMOTIVE ADAS SENSORS MARKET REGIONAL INSIGHTS

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North America to Dominate the Market due to Consumer Awareness

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East &Africa

The North America region, particularly the United States, has been a significant player in the automotive ADAS sensors market share. The U.S. has seen a growing emphasis on safety regulations, and consumer awareness regarding vehicle safety features has been on the rise. The presence of leading automotive manufacturers and technology companies contributing to automotive ADAS sensors development also contributes to the region's prominence. American countries, have been at the forefront of automotive technology and safety standards. The region has been proactive in implementing safety regulations, which has driven the adoption of ADAS technologies.

KEY INDUSTRY PLAYERS

Key Industry Players Shaping the Market through Innovation and Market Expansion

The market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of wardrobe options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Market Players Profiled

• Continental (Germany)
• FLIrSystems (U.S.)
• HELLA (Germany)
• LeddartecH (Canada)
• ONSemiconductor (U.S.)

INDUSTRIAL DEVELOPMENT

2019, December: There have been continuous advancements in sensor technologies, including radar, LiDAR, cameras, ultrasonic sensors, and more. These innovations aim to improve the accuracy, reliability, and performance of ADAS features. The integration and fusion of data from multiple sensors have become more sophisticated. Sensor fusion enhances the overall perception system by combining inputs from different sensor types, providing a more comprehensive understanding of the vehicle's environment.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.