In the past years, automobiles have undergone rapid technological advancements in terms of vehicle performance, passenger safety, communication capabilities and driving comfort. This progression of automotive industry is largely attributed to the changing consumer preferences, growing focus towards driver safety, environmental concerns, and stringent governmental regulations which are focusing towards crash avoidance rather than crash survival. Improvements in automobiles have led to a surge in the number of on-road vehicles, thus raising the need for the safer movement of automobiles.

At present, automotive industry is on the crest of technological advancement, wherein automakers are focusing towards increasing the road safety and achieving the goal of crash avoidance. These goals of automakers are profoundly supported by several federal authorities which in turn, is expected to advance the vehicle safety on public roads and an early integration of Advanced Driver Assist Systems (ADAS) in automobiles. Considering ADAS as the founding stone, automakers are expected to advance to semi-autonomous vehicles and ultimately, towards fully-autonomous vehicles.

The automated systems in the vehicles are assisting drivers depending on observations of the surroundings. The systems warn the driver of dangerous situations. Moreover, it can also take control of the speed and direction of the vehicle in certain situations. A visible surge can be witnessed in the number of vehicles with automated features such as adaptive cruise control, parking assistance, lane departure warning, traffic jam assist, automated emergency braking, and blind-spot detection. The current generation of ADAS features comprises adaptive cruise control, and lane keep assist, lane departure warning, and an advanced emergency braking system. Based on the BIS Research the ADAS and autonomous driving component marketis expected to grow at a CAGR of 12.21% during the forecast period 2020-2030.

However, factors such as high sticker price of these components may limit the customer pool. Furthermore, high risk associated with the usage of autonomous vehicles and security concern’s towards vehicle data are challenges to be overcome for the growth of the market. On the other hand, the ADAS and autonomous driving components market offers extensive opportunities for the players in the semiconductor domain and due to lack of efficient sensors for autonomous vehicles, there are opportunities for the players to strengthen their market position.

Competitive Landscape

The global ADAS and autonomous driving component market competitive landscape consist of different strategies undertaken by key players across the industry to gain traction and market share presence. Some strategies adopted by the service providers are new product launches, business expansions, mergers, partnerships, and collaborations. Among all these strategies adopted, business expansion is the popular choice of the strategy implemented in the ADAS and autonomous driving component market. Some of the most prominent ecosystem players are Continental AG, Robert Bosch GmbH, Autoliv, Denso Corporation, Aptiv Plc, Texas Instruments, Analog Devices Inc.., Intel Corporation, LeddarTech Inc., Magna International Inc., Quanergy Systems Inc., Velodyne LiDAR, Inc., ZF Friedrichshafen AG, and Valeo.

Market Segmentation

• Application Type – By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Trucks, and Heavy Buses)

• By Level of Autonomy - Level 1, Level 2, Level 3, Level 4, Level 5

• Component Type – Camera, Radar, LiDAR, ECU, and Ultrasonic Sensor

Regional Segmentation

• North America - U.S., Canada, and Mexico

• Europe – Germany, Netherlands, Sweden, and Rest-of-Europe

• Asia-Pacific and Japan (APJ) – Japan, South Korea, and Rest-of-APJ

• U.K.

• China

• Middle East and Africa

• South America

Growth Drivers

• Increasing Technological Developments and Advancements in ADAS systems

• Rising Development in Connected Infrastructure and Intelligent Transportation System

• Demand for ADAS Features in Commercial Vehicles

• Growing Concerns and Measures Over Road Safety

Market Restraints

• Reliability Issues and Rising Cyber Threats in Autonomous Vehicle

• High Cost Associated with LiDARs

• Lack of Government Rules and Regulations in Developing Regions

• Impact of Coronavirus Disease (COVID-19) on ADAS and Autonomous Driving Equipment

Market Opportunities

• Impact of 5G Technology Enhancing Autonomous Driving Components

• Increasing Adoption of Autonomous Vehicles in Shared Mobility

• Rising Focus Toward Vehicle Platooning

Key Questions Answered in this Report:
• What is the size of the ADAS and autonomous driving component market in terms of value and volume, and what is the expected CAGR for the period 2020-2030?
• Which companies are the major players in the ADAS and autonomous driving component market? What are the key market strategies being adopted by them?
• What is the revenue generated by the different ADAS and autonomous driving components such as camera, ultrasonic sensors, radar, LiDAR, and ECU during 2020-2030?
• Which global factors are changing the dynamics of the ADAS and autonomous driving component market?
• What is the revenue generated by the different regions, such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa?

Request for a Sample: ADAS and Autonomous Driving Component Market