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
- Technology
- 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.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Technology
-
- Passive Park Assists
- FCWS And LDWS
- Others
- Vehicle Type
-
- Passenger Vehicles
- Commercial Vehicles
- Geography
-
- North America
- Europe
- 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
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changing market scenarios.
Contacts
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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