The global ADAS (Advanced Driver Assistance Systems) calibration equipment market is on a trajectory for substantial growth, with forecasts indicating a market valuation of approximately USD 277.8 million in 2023. According to industry experts, the market is set to experience a compound annual growth rate (CAGR) of 12.6%, reaching a projected USD 911.2 million by the end of 2033.
Due to its capacity to improve safety, lower the chance of accidents, and provide improved comfort while driving, advanced driver assistance systems (ADAS) are steadily growing in popularity in the most recent generation of vehicles.
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Due to the extensive usage of cameras and radars, the ADAS market would gain from increased awareness of vehicle safety ratings and decreased component costs. Consequently, the ADAS calibration equipment market is likely to have a great potential in the market.
Major manufacturers are implementing ADAS technologies to boost their safety ratings and attract more buyers. This is encouraging more people to use ADAS calibration equipment. Automobile manufacturers are intensifying their efforts to incorporate new technology into their vehicles. This action is being taken primarily to improve driving safety.
So, it is reasonable to infer that the automotive industry is rapidly integrating active and passive vehicle safety technologies into all varieties of automobiles. Precision in the use of ADAS calibration systems has grown more crucial as AI and IoT continue to quicken the automotive industry’s transition to autonomous driving, which increases the demand for ADAS calibration equipment in the years to come.
Key Takeaways
- In 2022, the United States was expanding at a share of 18.5% in the ADAS calibration equipment market.
- The ADAS calibration equipment market was significantly expanding, with a size of US$ 249.2 million in 2022.
- Due to the market’s enormous potential and the rapidly expanding popularity of autonomous vehicles, analysts expect it is likely to rise 1.11 times between 2022 and 2023.
- The market in China is anticipated to expand at an adequate CAGR of 12.6% by 2033.
- In 2022, Germany was expanding at a 7.1% share in the ADAS calibration equipment market.
- In 2022, Japan was expanding at a 5.2% share in the ADAS calibration equipment market.
- By 2033, it is anticipated that the United Kingdom market could expand at a respectable CAGR of 13.1%.
- Based on vehicle type, the passenger vehicles are likely to lead the market with a share of 73.6% and continue to lead the market.
- Based on end user, the automotive OEMs segment continues to dominate the sector during the forecast period.
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Critical Approaches Increasing Top Players’ Wealth
Companies compete on elements including product features, price, and customer service in the market for ADAS calibration equipment, which is characterized by severe rivalry. There are numerous smaller businesses that operate in niche markets or provide specialized goods and services, in addition to the main corporations.
Robert Bosch GmbH, Mahle GmbH, TEXA S.p.A., and Autel Intelligent Technologies Corp., Ltd. are a few of the notable companies in the ADAS calibration equipment industry.
Other Key players-
- Launch Tech Co., Ltd.
- COJALI S.L.
- Hofmann Megaplan GmbH
- The Burke Porter Group
- Hunter Engineering Company
- BorgWarner Inc. (Delphi Technologies)
Recent Developments
- Automotive Service Solutions from Bosch: Bosch has unveiled its new DAS 3000 calibration tool, which is intended for the calibration of ADAS in automobiles. The DAS 3000 has a user-friendly touch screen interface, a built-in camera for collecting targets, and an extensive vehicle database.
- Business named Hunter Engineering: Hunter Engineering recently unveiled its new Quick ID™ TPMS sensor identification tool, which makes it easier to determine which TPMS sensor is appropriate for a given vehicle. This device aids in ensuring precise tyre pressure monitoring system (TPMS) calibration, a crucial step in the calibration of an ADAS.
The North American market, particularly the United States, is a significant contributor to global demand. The U.S. market alone accounts for approximately 22.9% of the global share in 2023, bolstered by substantial sales of automotive vehicles and a strong presence of leading automotive manufacturers who are continually integrating cutting-edge technologies into their vehicles. The passenger vehicles segment is expected to dominate the demand for ADAS calibration equipment, projected to hold 73.6% of the global market share through 2033.
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Key segments
By Vehicle Type:
- Passenger Vehicles
- Commercial Vehicles
By End User:
- Automotive OEMs
- Tier 1 Suppliers
- Service Stations
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa
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