ADAS Market – Global Forecast to 2030

The global ADAS Market is projected to grow at a CAGR of 11.9% during the forecast period, to reach $83.0 billion by 2030.

The key growth drivers of the market are the increasing stringency of vehicle safety regulations, upcoming safety mandates, and increasing demand for a comfortable driving experience.

Top Players

• Robert Bosch (Germany)
• Continental AG (Germany)
• ZF Friedrichshafen (Germany)
• Denso (Japan)
• Aptiv (UK)
• Valeo (France)
• Hyundai Mobis (South Korea)
• Veoneer (Sweden)
• Magna International (Canada)

Startups

• Luminar Technologies (US)
• ADASKY (Israel)
• Bright Way Vision (Israel)
• TriEye LTD (Israel)

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ADAS Market and Key Application:

• Adaptive Cruise Control – Adaptive cruise control (ACC), also known as autonomous cruise control, is an advanced version of cruise control. In cruise control, the vehicle is maintained at a steady speed as the system takes over the throttle. However, in ACC, the vehicle adjusts its own speed to keep a safe distance from the vehicles ahead. The factors positively affecting the growth of adaptive cruise control are technology upgrades and the increasing need for passenger safety. The rising number of accidents has led to an increase in the installation of adaptive cruise control in vehicles.
• Automatic Emergency Braking – Automatic emergency braking (AEB) is a safety feature that alerts drivers about an imminent crash and enables them to use the maximum braking capacity of the vehicle. AEB automatically applies the brakes if a situation becomes critical, and the driver is not responsive. AEB comes in 3 categories, namely, low-speed systems, higher-speed systems, and pedestrian systems. Low-speed systems work on city streets to detect another vehicle in front of the car.
• Blind Spot Detection – A blind-spot detection system detects other vehicles that fall in the ‘blind spot range’ of the driver, usually on the side or rear of the vehicle. A blind spot is an area around the vehicle that cannot be easily viewed by the driver. When another vehicle enters the blind spot range, the sensors detect it and send visual or audio alarms to the driver.

Stringent safety regulations are expected to drive the demand for ADAS in Europe. France is one of the fastest-growing markets for ADAS in Europe. In 2018, France contributed approximately 12% to the total vehicle production in the region as per the European Automobile Manufacturers Association. Several safety mandates have been implemented by the French government. For instance, in 2015, the government made it compulsory to install automatic emergency braking (AEB) and lane departure warning (LDW) in all new heavy trucks.

The increasing production and sales of luxury vehicles due to strong economic growth play a major role in Germany. Major German OEMs such as Volkswagen and Daimler AG have incorporated advanced features to enhance the driving experience. These OEMs offer most ADAS features as standard in their premium segment vehicles. In mid-segment SUVs and sedans, essential ADAS features are offered under additional packages.

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Recent Developments:

• In February 2020, Veoneer was selected to supply active safety systems based on next-generation vision and radar systems. Veoneers scalable system has been developed to meet Euro NCAP 5-star safety rating as well as provide several driver assistance features such as highway assist, lane centring control, stop and go adaptive cruise control, automatic emergency braking, traffic sign recognition, and automated high beam control.
• In February 2020, Continental announced a new production plant for ADAS in Texas, US, with an investment of USD 109 million over the next 3 years. The new production facility will manufacture radars from 2021.
• In January 2020, ZF launched ZF assist, a Level 2+ automated driving system, which is its first step into the modular Level 2+ hardware and software suite and highlights ZF’s capabilities as a full system supplier. From 2020, ZF will equip production vehicles with this new ZF system for a major Asian manufacturer.
• In November 2019, Denso partnered with Metawave to accelerate the development of smart radar systems for autonomous cars. Denso also invested USD 17 million in Metawave in May 2018.
• In August 2019, Continental unveiled new system solutions for safer automated driving. It developed a combined camera system comprising an inward-looking infrared camera and an outward-looking camera. The system can simultaneously monitor the driver as well as surrounding vehicles.