ADAS Sensors Market 2020 Detailed Study of Business Growth with Top Players


Posted October 13, 2020 by Rahul_Gautam

The adoption of long-range radar (LRR) is particularly high in the automotive industry.
 
The automotive industry has been registering considerable growth, which can primarily be attributed to technological advancements. Owing to this, the adoption of semi-autonomous vehicles has increases significantly as well. Since these vehicle employ automatic features, their safety and security is of the utmost priority. Governments of several countries have now mandated the integration of enhanced security features in vehicles in order to improve the safety on roads and provide the driver with better experience.

For example, 33 U.S. states introduced legislations concerning autonomous vehicles in 2017. Moreover, in 2018, 18 autonomous vehicle-related bills were enacted in 2017. One of the major systems that are being integrated in vehicles is advanced driver-assistance system (ADAS). Owing to such policies, manufacturers in the automotive industry are increasingly providing different ADAS features in vehicles. This is resulting in the growth of the global ADAS sensor market.

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The adoption of long-range radar (LRR) is particularly high in the automotive industry. These sensors have the ability to detect signals from a greater distance, i.e. covering three motorway lanes, as compared to a SSR (short-range radar). This is further expected to result in the growth of the domain. The ADAS sensor market is predicted to attain a revenue of $40.8 billion by 2030, rising from $11.5 billion in 2019, progressing at an 11.7% CAGR during the forecast period (2020–2030).

On the basis of type, the market is divided into ultrasonic, radar, camera, and LiDAR, out of which the ultrasonic division held the major volume share of the market during the historical period (2014–2019). 4 ultrasonic sensors are integrated in level 1 autonomous vehicles, as compared to 1 LiDAR, camera, and radar sensors. Other than this, the radar division held the largest value share of the market during the historical period. The price of these sensors is higher than that of ultrasonic and camera sensors.

In terms of application, the market is classified into night vision system, intelligent part assist system, cross traffic alert system, driver monitoring system, adaptive front light system, adaptive cruise control (ACC) system, lane keeping assistance system, blind spot detection system, and automatic emergency braking system. Out of these, the ACC application accounted for the major share of the market in the past and is further predicted to dominate the market during the forecast period as well. The adoption of these systems have increased considerably due to the decreasing system prices.

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Europe dominated the ADAS sensor market during the historical period, according to a report by P&S Intelligence. A number of regulations have been implemented in the region that are responsible for the expansion of the autonomous car market in the region. Moreover, several initiatives are being taken by key companies in the region, which is further leading to the growth of the regional domain.

Hence, the demand for ADAS sensors is growing due to the rising adoption of level 1 autonomous cars and increasing adoption of LRR.
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Contact Email [email protected]
Issued By Rahul Gautam
Country India
Categories Automotive , Blogging , Business
Tags ADAS Sensor Market , ADAS Sensor Market Report , US ADAS Sensor Market , Europe ADAS Sensor Market , Germany ADAS Sensor Market 2020
Last Updated October 13, 2020