Advanced Driver Assistance Systems (ADAS) Market to Hit $183,814.84 Million by 2028 at 25.4% CAGR - The Insight Partners

According to The Insight Partners research reports on Advanced Driver Assistance Systems (ADAS) can help you gain crucial insights regarding the key drivers.

NEW YORK, UNITED STATES, November 1, 2022 /EINPresswire.com/ -- According to our latest market study on” “Advanced Driver Assistance Systems (ADAS) Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Sensor Type (Image Sensor, LiDAR, Radar Sensor, Ultrasonic Sensor, and Infrared Sensor), Technology Type (Adaptive Front Light, Blind Spot Detection, Electronic Brake Assist, Drowsiness-Monitoring System, Lane Departure Warning, Head-up Display, Night Vision System, Park Assist, E-Call Telematics, Tire Pressure-Monitoring System, and Others), and Vehicle Type (Passenger Car, LCV, and HCV)”

The Advanced Driver Assistance Systems (ADAS) market is expected to grow from US$ 43,138.44 million in 2021 to US$ 183,814.84 million by 2028; it is estimated to grow at a CAGR of 25.4% from 2021 to 2028.

Advanced driver assistance systems (ADAS) are becoming more widely accessible on new automobiles. Human mistake is responsible for nearly all car accidents, which may be avoided using ADAS. The goal of ADAS is to reduce the incidence of automobile accidents and the severity of those that cannot be prevented, preventing fatalities and injuries. Forward-collision warning (FCW) and automated emergency braking (AEB), for example, are meant to deliver alerts or features that aid the driver with the driving job. These ADAS features are intended to improve driving safety or convenience, but they do not take the driver's position. These factors influence the growth of the Advanced Driver Assistance Systems (ADAS) market.

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Companies Profiled in this report includes: Continental AG,Cypress Semiconductor Corporation,First Sensor AG (TE Connectivity),Harman International (Samsung Group),Hitachi, Ltd.,MG Motor India Private Limited,NVIDIA Corporation,Robert Bosch GmbH,Telefonaktiebolaget LM Ericsson,Vector Informatik GmbH

Impact of COVID-19 Pandemic on Global Advanced Driver Assistance Systems (ADAS) Market

The COVID-19 pandemic had an immediate and devastating impact on the global automotive sector, which was already dealing with a downturn in global demand. China experienced disruptions in components shipments. Moreover, Europe and the US faced large-scale vehicle manufacturing disruptions alongside the shutdown of assembly lines. These effects are likely to lead to further merger and acquisition activities. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA) figures, ~78 million mechanized vehicles were produced globally in 2020, down by 16% from the previous year. Autonomous car system providers discontinued the testing of their offerings. As investments in the Advanced Driver Assistance Systems (ADAS) industry are subject to variations, a decrease in the number of shared-mobility providers significantly hampered the Advanced Driver Assistance Systems (ADAS) market.

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Advanced Driver Assistance Systems (ADAS) Market Insights

Growing Demand for Safety and Driving Comfort Features

The majority of road accidents are caused by human error. These advanced safety technologies have been adopted to automate and improve components of the driving experience to improve driver safety and behavior. ADAS has been shown to lower the number of traffic deaths by lowering the risk of human mistakes. These safety systems aim to improve road safety by lowering the overall number of traffic accidents, thereby minimizing vehicular casualties. They also reduce the number of insurance claims resulting from small collisions that cause property damage but no injuries. ADAS technology based on field-programmable gate arrays (FPGA)/state of charge (SoC) and automotive sensors can be integrated with popular systems in the Advanced Driver Assistance Systems (ADAS) market, such as vision/camera to increase situational awareness and control, making driving easier and safer. A car is the largest and most often utilized connected system among the customer base. The Advanced Driver Assistance Systems (ADAS) industry is benefiting from increasing awareness of car safety ratings and lower component prices owing to the widespread use of cameras and radars. Major automakers are using ADAS systems to attain greater safety ratings and attract more customers, driving the growth in the Advanced Driver Assistance Systems (ADAS) market.

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