The ADAS sensors market is set for remarkable growth, with projections indicating an impressive CAGR of 8.7% over the next decade. By 2033, this market is expected to reach a staggering USD 70.33 Billion. This surge is driven by increasing demand for advanced driver-assistance systems (ADAS) in modern vehicles, as consumers and manufacturers alike prioritize safety and automation.
As technology continues to evolve, ADAS sensors are becoming more sophisticated, offering better performance and reliability. This trend underscores the importance of innovation in the automotive sector, ensuring that ADAS sensors remain a critical component in the journey towards fully autonomous driving.
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Moreover, advancements in sensor technology, including radar, LiDAR, cameras, ultrasonic sensors, and infrared sensors, are driving innovation in the ADAS market, offering improved accuracy, reliability, and performance. As automakers and consumers prioritize safety and convenience features in vehicles, the demand for ADAS sensors is expected to continue growing, presenting opportunities for sensor manufacturers and technology providers to develop innovative solutions that enhance vehicle safety and driving experience.
Key Takeaways from the ADAS Sensors Market Report:
- The global advanced driver assistance systems ADAS sensors market expanded at a CAGR of 7.4% between 2018 and 2022.
- The global ADAS sensors market is expected to boost sales at an impressive 14.1% CAGR over the forecast period, with the market valuation reaching USD 43.2 billion in 2030.
- Future Market Insights (FMI) says that the sales in the ADAS sensors market accounted for 6-7% of the global sensors market in 2020.
- North America’s ADAS sensors market is expected to hold 15.6% of the total market share whereas the United States holds a value share of 14.8%.
- The United Kingdom is projected to emerge as a significant pocket over the assessment period with a market share of 14.2% whereas Germany’s market is said to expand at a CAGR of 8.9% due to the high adoption of ADAS systems in economic and luxury vehicles.
- Europe’s ADAS sensors market held a dominant share of 24.3% in the global ADAS sensors market in 2022.
- The rising preference for cruise control in modern vehicles might spur demand for ADAS sensors that drive sales in this segment holding a market share of 52.4%.
- The demand for ADAS sensors in the passenger vehicles segment is expected to continue rising over the forecast period as per FMI holding a market share of 49.9%.
- A wide availability of ADAS radar sensors offered by OEMs might boost sales with a value share of 40.2%.
The presence of a variety of electronic monitoring and controlling devices is one of the key developments of the ADAS market – comments a Future Market Insights Analyst.
Leading Key Players:
- Continental AG
- Robert Bosch GmbH
- Denso Corporation
- Delphi Technologies PLC
- Hella GmbH & Co. KGaA
- TE Connectivity
- CTS Corporation
- NXP Semiconductors N.V.
- Microchip Technology Inc.
- Infineon Technologies AG
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ADAS Sensors Market Segmentation:
By Product Type:
- Blind Spot Detection
- Night Vision Sensors
- Light Sensors
- Parking Sensors
- Cruise Control
By Vehicle Type:
- Passenger Vehicles
- Commercial Vehicles
- Heavy Commercial Vehicles
By Sales Channel:
- Original Equipment Manufacturers (OEM)
- Original Equipment Spares (OES)
- Independent Aftermarket (IAM)
By Region:
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia Pacific excluding China & Japan
- Japan
- China
- The Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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