ADAS MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Advanced Driver Assistance systems Market Analysis:

The market size of Advanced Driver Assistance Systems (ADAS) is projected to be USD 49.65 billion in 2023, with an anticipated growth to USD 107.47 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 16.70% during the forecast period (2023–2028).

The COVID-19 pandemic had an adverse impact on the market, as lockdowns and trade restrictions caused disruptions in the supply chain and a cessation of vehicle production worldwide. However, as restrictions eased, market players began to focus on mitigating such risks and developing strategies to create momentum in the market during the forecast period.

The increasing production of vehicles with integrated ADAS features, driven by rising awareness towards passenger comfort and safety, and government regulations mandating safety features, is expected to fuel demand in the market. Furthermore, the growing acceptance of self-driving or automated vehicles is expected to contribute to the market’s enhanced growth. The global automotive industry’s dynamics are also rapidly changing.

Mid-price segment cars are equipped with basic components designed and manufactured according to consumer preferences. The consistent increase in demand for compact and mid-sized automobiles equipped with advanced safety features is also expected to propel the growth of the automotive ADAS market.

Established and emerging market participants are generating new sources of revenue in target countries such as the U.S., India, China, Germany, and France, which are expected to enhance demand across Asia-Pacific, North America, and Europe. Additionally, demand in these regions is driven by government regulations.

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