Advanced Driver Assistance Systems Market

1. Analysis of Advanced Driver Assistance Systems Market Size by Research Nester Reveals the Market to Grow with a CAGR of ~17% During 2024-2036 and Attain ~USD 200 Billion by 2036 Research Nester’s recent market research analysis on “Advanced Driver Assistance Systems Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global advanced driver assistance systems market in terms of market segmentation by system type, component type, offering, vehicle type, electric vehicle, and by region. Growing Popularity of Electric Vehicles to Promote Global Market Share of Advanced Driver Assistance Systems The global advanced driver assistance systems market is estimated to grow majorly on account of the increasing adoption of electric vehicles across the globe. EV sales and adoption rates are rising at an exponential rate on a global scale, demonstrating the phenomenal rise of EVs led by factors such as enhanced battery technology and laws enacted by governments to preserve the efficiency of automobiles and air quality regulations. Moreover, sales of electric vehicles have been rising quickly both domestically and internationally owing to the growing customer interest, and declining prices. As a result, the demand for advanced driver assistance systems is witnessing significant growth. Electric vehicles are increasingly equipped with advanced driver assistance systems, or ADAS, which use cutting-edge sensors, cameras, and radar systems to usher in a new era of safety, and are altering the driving habits of car owners.

2. According to the International Energy Agency, the main technology for decarbonizing the road transportation sector, which is responsible for more than 15% of the world's energy-related emissions, is electric automobiles. Request Report Sample@ https://www.researchnester.com/sample-request-6068 In addition, there has been an increase in the number of traffic accidents owing to distracted driving, and overspeeding. Therefore, automobile manufacturers are adapting by including ADAS technology in their models as more drivers place a higher priority on safety, and stop fatalities and serious injuries. According to the World Health Organization (WHO), an estimated 1.19 million persons lose their lives in traffic-related incidents each year. Some of the major growth factors and challenges that are associated with the growth of the global advanced driver assistance systems market are: Growth Drivers: •Surge in Technological Advancements •Rising Implementation of Safety Standards Challenges: The growing concern for risks associated with data security with advanced driver assistance systems, and the exorbitant cost of maintenance and implementation are some of the major factors anticipated to hamper the global market size of advanced driver assistance systems. When problems arise, repairs may be expensive and some automakers may find it difficult to put ADAS into practice.

3. For instance, when a car with ADAS is involved in a minor front or rear collision, the repair price can reach over USD 5,200, which is nearly twice as much as when a car without these systems is involved. By component type, the global advanced driver assistance systems market is segmented into LiDAR, radar, camera, sensor, processor, and software. The radar segment is to garner significant revenue by the end of 2036 by growing at a significant CAGR over the forecast period. One of the sensor technologies that is essential to autonomous driving (AD) and advanced driver assistance systems (ADAS) is radar, which uses radio waves to identify things that are stationary and moving at various distances from a vehicle's perimeter. In ADAS, a method known as Radar (Radio Detection and Ranging) is utilized to determine an object's size, form, and distance from other cars as well as their speed. By region, Europe's advanced driver assistance systems market is to generate the highest revenue by the end of 2036. This growth is anticipated by higher integration of ADAS in vehicles. All new car models in the EU are required to include multiple ADAS starting in July 2022 to reduce traffic-related fatalities and serious injuries by half between 2019 and 2030. For instance, by 2030, advanced driver assistance systems will be installed in more than 50% of the cars on European roads. Moreover, the growing rate of road accidents may boost the need for ADAS in the region. For instance, more than 21,500 persons were hurt in car accidents in Germany in February 2023.

4. This report also provides the existing competitive scenario of some of the key players of the global advanced driver assistance systems market which includes company profiling of Altera Corporation (Intel Corporation), Mobileye Global Inc., Infineon Technologies AG, Magna International Inc., Stellantis Ventures, Mobileye, Autoliv Inc., Continental AG, Garmin Ltd., Robert Bosch GmbH, Valeo SA, and others. Access our detailed report at: https://www.researchnester.com/reports/advanced-driver- assistance-systems-market/6068 Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision in order to avoid future uncertainties. Contact for more Info: AJ Daniel Email: info@researchnester.com U.S. Phone: +1 646 586 9123 U.K. Phone: +44 203 608 5919