NEW YORK, July 19, 2024 /PRNewswire/ -- The global automotive ADAS aftermarket market size is estimated to grow by USD 4.18 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 12.15% during the forecast period. Decline in sensor prices is driving market growth, with a trend towards growing development of aftermarket ADAS for CVs. However, adoption of active adas technologies by oems poses a challenge. Key market players include BorgWarner Inc., Brandmotion LLC, Continental AG, CUB ELECPARTS Inc., Garmin Ltd., Gentex Corp., HELLA GmbH and Co. KGaA, Intel Corp., Information Technologies Institute Intellias LLC, Knorr Bremse AG, MINIEYE, Robert Bosch GmbH, Samsung Electronics Co. Ltd., Sasken Technologies Ltd., Solera Holdings LLC, TomTom NV, Valeo SA, Veoneer Inc., VOXX International Corp., and ZF Friedrichshafen AG.
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Automotive ADAS Aftermarket Market Scope |
|
Report Coverage |
Details |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 12.15% |
Market growth 2024-2028 |
USD 4188.7 million |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
10.61 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
APAC at 40% |
Key countries |
US, Germany, China, France, and Japan |
Key companies profiled |
BorgWarner Inc., Brandmotion LLC, Continental AG, CUB ELECPARTS Inc., Garmin Ltd., Gentex Corp., HELLA GmbH and Co. KGaA, Intel Corp., Information Technologies Institute Intellias LLC, Knorr Bremse AG, MINIEYE, Robert Bosch GmbH, Samsung Electronics Co. Ltd., Sasken Technologies Ltd., Solera Holdings LLC, TomTom NV, Valeo SA, Veoneer Inc., VOXX International Corp., and ZF Friedrichshafen AG |
Market Driver
Automotive companies are prioritizing customer needs and offering personalized solutions in a connected vehicle environment. Artificial Intelligence (AI) technology is increasingly being adopted in Advanced Driver Assistance Systems (ADAS) due to the growing demand to mimic human brain functions. AI-based ADAS continuously learns and enhances its ability to detect and recognize surroundings. This enables the system to detect and recognize multiple objects around the vehicle, consumes less power, and reduces development time. Notable ADAS manufacturers, such as Continental, have recently launched AI-enabled ADAS solutions, like the new CV3 artificial intelligence system-on-chip family from Ambarella. These advancements are expected to significantly impact the automotive industry during the forecast period, as AI technology will play a vital role in delivering effective active safety and reliable driving systems. The development of aftermarket ADAS for CVs will consequently fuel the growth of the global automotive ADAS aftermarket during this period.
The Automotive ADAS aftermarket is experiencing significant trends, with collaborative efforts between infrastructure providers and automotive industry stakeholders driving advancements in autonomous vehicle technology. Major OEMs and e-hailing service providers are integrating Advanced Driver-Assistance Systems (ADAS) like Automatic Emergency Braking (AEB), Lane Departure Warning (LDW), and Adaptive Cruise Control (ACC) into their vehicles. IEEE standards, such as 802.3cz and 802.3ch, ensure reliable data delivery for real-time decision-making. The use of Automotive Ethernet, microcontroller units, and electronic control units in ADAS is increasing, along with the adoption of image, radio, laser, and infrared sensors. Human-machine interface, vehicle speed, engine fuel supply, external and internal vehicle conditions are key factors influencing technology development. The complexity of software-driven electronic components and consumer expectations are pushing up vehicle costs, particularly in premium cars. Competition among OEMs is leading to competitive prices and ecosystem mapping for design, development, validation, prototyping, and manufacturing support. The ADAS market is growing rapidly in premium vehicles and smaller segments, with technology innovation and cost reduction being the major challenges.
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Market Challenges
- The aftermarket adoption of Advanced Driver-Assistance Systems (ADAS) primarily focuses on passive systems that provide drivers with alerts or warnings. The main reason for this preference is the cost-effectiveness of passive systems. However, original equipment manufacturers (OEMs) are expanding their offerings to include advanced ADAS technologies, such as adaptive cruise control (ACC) and advanced emergency braking systems (AEBS), in mass-segment vehicles. This technology gap between OEMs and aftermarket offerings presents a challenge for the growth of the automotive ADAS aftermarket. Regulatory bodies are increasingly mandating active ADAS technologies, like AEBS, in new cars and light commercial vehicles. Safety-critical ADAS applications, such as pedestrian detection/avoidance, traffic sign recognition, automatic emergency braking, and blind spot detection, are becoming mandatory. For instance, AEBS was mandatory in new cars and light CVs in the European Union from 2022. This regulatory push will lead to increased adoption of active ADAS technologies by OEMs in new vehicles. To maintain revenue growth in the global automotive ADAS aftermarket, it is essential for vendors to focus on developing low-cost active ADAS solutions for customers. The price of passive systems is expected to decline during the forecast period. Therefore, the increasing adoption of active ADAS technologies by OEMs may negatively impact the growth of the global automotive ADAS aftermarket during the forecast period. Keywords: Advanced Driver-Assistance Systems (ADAS), passive systems, cost-effective, regulatory bodies, safety-critical applications, pedestrian detection/avoidance, traffic sign recognition, automatic emergency braking, blind spot detection, adaptive cruise control (ACC), adaptive emergency braking systems (AEBS), global automotive ADAS aftermarket.
- The Autonomous Driving Aftermarket for Advanced Driver-Assistance Systems (ADAS) is experiencing significant growth due to increasing consumer demand for enhanced vehicle safety. However, challenges persist in implementing multifunctional sensors and vehicle automation, especially in rural areas and less-developed regions. Autonomous driving requires efficient communication networks, supportive infrastructure, and well-marked roads with clear lane markings and GPS connections. ADAS technologies, including lane change detection, object detection, and distance measurement between vehicles, are crucial for vehicle safety and road safety. Regulatory requirements and safety assessment programs also pose challenges for automakers in vehicle design and manufacturing processes. Semi-autonomous trucks on highways and V2V/V2X communication require standardized infrastructure and IT infrastructure for efficient data processing and analysis. Reliability and utility are essential factors for consumers, who expect advanced safety features to reduce risks and improve crash test ratings. Integration challenges remain, particularly in ensuring seamless communication between different ADAS technologies and the vehicle's overall design. Ultimately, the appeal to consumers depends on the balance between safety, cost, and convenience.
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Segment Overview
This automotive adas aftermarket market report extensively covers market segmentation by
- Technologie
- 1.1 Passive park assists
- 1.2 FCWS and LDWS
- 1.3 Others
- Vehicle Type
- 2.1 Passenger vehicles
- 2.2 Commercial vehicles
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 Middle East and Africa
- 3.5 South America
1.1 Passive park assists- The passive park assists segment, which includes rear parking sensors, backup cameras, and rear cross-traffic alerts, dominated the global automotive ADAS aftermarket in 2022. This trend is expected to continue during the forecast period due to the growing demand for simple and cost-effective solutions for parking assistance in lower-trim vehicles and older models. Tight parking spaces in urban areas and regulations in developed economies, such as the US, are driving the adoption of passive park assist technologies. The continuous reduction in prices of sensors, cameras, and displays is also a significant factor. Radar technology is commonly used in rear cross-traffic alert systems due to its ability to detect approaching vehicles or pedestrians from a distance. Vendors like Brandmotion LLC offer retrofit radar blind spot monitoring and detection systems, such as the Radar Blind Spot System with Cross Traffic Detection RDBS-1500, which are complementary ADAS technologies. These factors will contribute to the growth of the passive park assists segment in the global automotive ADAS aftermarket.
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The global Automotive Advanced Driver Assistance System (ADAS) Sensors market is experiencing rapid growth due to advancements in sensor technology enhancing vehicle safety and driving efficiency. Similarly, the Commercial Vehicle ADAS market is expanding as fleet operators seek to improve safety and compliance. The Automotive Active Safety System market is also on the rise, driven by increasing consumer demand for safety features and regulatory mandates. Key players in these markets are innovating to offer integrated, cost-effective solutions, pushing the boundaries of automotive safety and autonomous driving technologies.
Research Analysis
The ADAS (Advanced Driver-Assistance Systems) aftermarket is a rapidly growing segment in the automotive industry, focusing on enhancing vehicle safety and automation. This market encompasses various technologies such as cameras, sensors, software, radar, LiDAR, and ultrasonic sensors. These systems offer features like night vision, drowsiness monitoring, and self-driving capabilities. The sensor fusion method enables better data processing and improved accuracy. Automated vehicles and electrification of vehicles are major trends driving the market's growth. Advanced safety features like automated emergency braking, lane departure warning, and blind spot detection are becoming increasingly popular. Regulatory requirements and connectivity, including V2V communication, are also significant factors influencing the market's development. High-definition cameras and multifunctional sensors are essential components, contributing to vehicle automation and road safety.
Market Research Overview
The ADAS (Advanced Driver-Assistance Systems) Aftermarket is a rapidly growing sector in the automotive industry, driven by the increasing demand for advanced safety features in vehicles. This market encompasses various components such as cameras, sensors, software, radar, and cutting-edge technologies like LiDAR and Ultrasonic sensors. These systems enable automated vehicles to detect objects, determine distances between vehicles, and provide real-time traffic updates for enhanced driver assistance and vehicle safety. ADAS technologies include night vision, drowsiness monitoring, and self-driving automobiles. The electrification of vehicles and the push towards autonomous driving are also major factors fueling market growth. Multifunctional sensors, vehicle automation, and driver assistance systems are essential for reducing risk and improving crash test ratings. Regulatory requirements, efficiency, and supportive infrastructure, including communication networks and road infrastructure, are crucial elements of the ADAS Aftermarket. The integration of ADAS technologies in vehicles poses challenges, especially in rural areas and less-developed regions. Collaborative efforts between infrastructure providers, automotive industry stakeholders, and automakers are essential for the successful implementation of autonomous vehicle technology. The ADAS Aftermarket offers utility and reliability, appealing to consumers seeking advanced safety features and enhanced driving experiences. The market includes various players, from automakers and e-hailing service providers to microcontroller units and electronic control units. IEEE standards, such as 802.3cz and 802.3ch, play a significant role in ensuring reliable data delivery for real-time decision-making systems like AEB (Automatic Emergency Braking), LDW (Lane Departure Warning), and ACC (Adaptive Cruise Control). The ADAS Aftermarket is expected to continue growing, driven by the increasing popularity of high-definition cameras, the integration of cloud data and IT infrastructure, and the development of standardized infrastructure for seamless integration and communication between vehicles and their surroundings.
Das Inhaltsverzeichnis:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Technologie
- Passive Park Assists
- FCWS And LDWS
- Others
- Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
- Geography
- North America
- Europa
- APAC
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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