Automotive ADAS and Autonomous Vehicles Market Trends and Analysis by Technology, Companies and Forecast to 2028
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Automotive ADAS and Autonomous Vehicles Market Report Overview
The automotive ADAS and autonomous vehicles market size was 516.3 million units in 2023. The market will grow at a CAGR of more than 6% during 2023-2028. The progress of autonomous and ADAS-enabled vehicles depends on sensors as well as the development of predictive software. In 2023, Asia-Pacific accounted for a significant share of the market.
Automotive ADAS and Autonomous Vehicles Market Outlook, 2023-2028 (Million Units)
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The automotive ADAS and autonomous vehicles market research report provides a comprehensive overview of the advanced driver assistance systems market trends and drivers. The report also provides a detailed overview of technological developments and innovations, PESTER analysis, and leading component suppliers at a global and regional level. Furthermore, evaluate strategic initiatives taken by market players and their recent product innovations to identify growth opportunities. The report also provides an overview of patent filings in the sector across regions, countries, and top applicants.
Market Size (2023) | 516.3 million units |
CAGR (2023-2028) | > 6% |
Key Segments | · Front Cameras
· Front Ultrasound Sensors · Side Ultrasound Sensors · Rear Ultrasound Sensors · Others |
Key Regions | · Asia-Pacific
· Europe · North America · South America · MEA |
Key Companies | · Audi
· Honda · Mercedez-Benz · Denso · Bosch · BMW · APTIV · MAGNA · Others |
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Automotive ADAS and Autonomous Vehicles Market Trends
The development of artificial chips is one of the key trends shaping the automotive advanced driver assistance systems and autonomous vehicles market. The adoption of legislation to facilitate autonomous vehicle development and deployment also helps in the market growth.
Adoption of legislation: Vehicle-to-infrastructure (V2I) and vehicle-to-vehicle (V2V) communication serve as some of the foundational elements for the development of autonomous vehicles. Since 2009, the US, EU, and Japan have formed working groups to assist in developing the standards for V2I and V2V communication.
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Automotive ADAS and Autonomous Vehicles Market Segmentation by Regions
In 2023, Asia-Pacific accounted for the highest share among all the regions
The key regions in the automotive ADAS and autonomous vehicles market are Asia-Pacific, Europe, North America, South America, and MEA. The Japanese government collaborated with regional automakers, suppliers, and research centers from the Universities of Tokyo and Nagoya to permit autonomous vehicle testing on roads.
Automotive ADAS and Autonomous Vehicles Market Analysis by Regions, 2023 (%)
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Automotive ADAS and Autonomous Vehicles Market - Competitive Landscape
A few of the top companies operating in the market are:
- Audi
- BMW
- Honda
- Mercedez-Benz
- ZF
In BMW, sensor technology in the assistance systems measures, assesses, and detects changes in the car’s immediate and surrounding environments. Currently, these sensors are used in traffic sign recognition, emergency braking assistance, dynamic stability control (DSC), and for other purposes.
BMW is also taking strategic actions to aid the growth of the automotive ADAS and autonomous vehicles market. In August 2023, BMW and Innoviz developed highly automated LiDAR imaging technology which will be incorporated into the BMW 7 Series in the future.
Automotive ADAS and Autonomous Vehicles Market Analysis by Companies
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Automotive ADAS and Autonomous Vehicles Market Segmentation by Sectors
The key sectors in the automotive ADAS and autonomous vehicles market are front cameras, front ultrasound sensors, radar – short/medium range, and rear ultrasound. In 2023, radar – short/medium range was the dominant sector in the market.
Automotive ADAS and Autonomous Vehicles Market Analysis by Sectors, 2023 (%)
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Automotive ADAS and Autonomous Vehicles Market - Latest Developments
A few of the latest developments in the automotive ADAS and autonomous vehicles market are as follows:
- 5th September 2023: Mobileye and Valeo collaborated to supply imaging radars for automated driving and next-generation driver assistance capabilities. They announced this collaboration at the IAA Mobility in Munich.
- 4th September 2023: Samsung Electro-Mechanics Co. entered into an agreement with a US electric car manufacturer for the supply of camera modules for automobiles. People assume the US electric car manufacturer to be Tesla.
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Segments Covered in the Report
Automotive ADAS and Autonomous Vehicles Sector Outlook (Value, Million Units, 2018-2028)
- Front Cameras
- Front Ultrasound Sensors
- Radar – Short/Medium Range
- Rear Ultrasound
Automotive ADAS and Autonomous Vehicles Regional Outlook (Value, Million Units, 2018-2028)
- Asia-Pacific
- Europe
- North America
- South America
- MEA
Scope
- Provides an overview of the current key trends, drivers, technologies, and developments that will influence the sector’s growth in the future.
- Provides a regional overview across five regions highlighting industry size, growth drivers, latest developments, and future inhibitors.
Reasons to Buy
- The report provides its readers with up-to-date information and analysis to uncover emerging opportunities for growth within the sector.
- The report analyzes regions and competitive landscape that can help companies gain insight into the region-specific nuances.
- The report assesses the key trends that drive customer choice and the future opportunities that can be explored in the region. Actionable insights on trends can help companies in revenue expansion.
- The report helps gain competitive intelligence about leading component suppliers in the region with information about their market share and growth rates.
BMW
Mercedes Benz
Honda
Table of Contents
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Figures
Frequently asked questions
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What was the automotive ADAS and autonomous vehicles market size in 2023?
The automotive ADAS and autonomous vehicles market size was 516.3 million units in 2023.
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What is the growth rate of the automotive ADAS and autonomous vehicles market?
The ADAS and autonomous vehicles market is expected to record a CAGR of more than 6% during 2023-2028.
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Which was the leading sector in the automotive ADAS and autonomous vehicles market in 2023?
Radar – short/medium range was the leading sector in the automotive ADAS and autonomous vehicles market in 2023.
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Which was the leading region in the automotive ADAS and autonomous vehicles market in 2023?
Asia-Pacific was leading in the automotive ADAS and autonomous vehicles market in 2023.
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Which are the key companies operating in the automotive ADAS and autonomous vehicles market?
The top companies operating in the automotive ADAS and autonomous vehicles market are Audi, BMW, Honda, Mercedez-Benz, and ZF, among others.
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