The advanced driver assistance system market is estimated to develop at a CAGR of 9.6% between 2022 and 2032, reaching a worth of US$ 131,069.1 Mn by 2032.
Human mistake causes nearly all automobile accidents, which can be avoided with advanced driver aid systems (ADAS). The goal of ADAS is to reduce the incidence of car accidents and the severity of those that cannot be avoided, therefore preventing fatalities and injuries. Manufacturers and developers of ADAS systems have focused their efforts on making driving experiences safer and reducing human interference. As a result, the advanced driver assistance system market is expected to continue to grow.
Takeaways from the Market Research
• In the global market, night vision system (NVS) sales are predicted to expand at a CAGR of 13.9 percent.
• The ultrasonic sensor and radar sensor category is predicted to lead by technology type, with a market share of more than 49.0%.
• In terms of vehicle type, the passenger vehicle category will command more than 71 percent of the market.
• In terms of region, the CAGR for South Asia and the Pacific is expected to be 12.4%.
Texas Instruments Incorporated, Intel Corporation, NVIDIA Corporation, Robert Bosch GmbH, Continental AG, Magna International, Mobileye, and others.