ADAS Sensors Market Report

According to World Health Organisation June 2022 report, every year, the lives of around 1.3 million people are cut short as a consequence of a traffic accident. Non-fatal injuries affect between 20 and 50 million more individuals, with many becoming disabled as a result of their injury. In order to overcome this issue, governments and regulatory bodies in various countries have been introducing and enforcing regulations mandating the inclusion of certain modern technologies such as ADAS features in new vehicles. ADAS sensors play a crucial role in enhancing vehicle safety by providing features like collision avoidance, lane departure warning, automatic emergency braking, and adaptive cruise control. As governments, consumers, and automotive manufacturers place a higher emphasis on road safety, the demand for ADAS-equipped vehicles has increased. In addition to this, continuous advancements in sensor technologies, such as radar, LiDAR, cameras, ultrasonic sensors, and other sensors used in ADAS systems, have improved their accuracy, range, and reliability. These advancements have made ADAS technologies more effective and practical for extensive adoption. Besides, as consumers become more informed about the benefits of ADAS technologies, there is a growing preference for vehicles equipped with these safety features, further driving the ADAS sensor market.

Sensors like as radar, LIDAR, ultrasonic sensors, cameras, infrared, and different actuators are used in a majority of ADAS safety features. These sensors and actuators monitor fields in all directions to ensure the safety of the vehicle, driver, passengers, and pedestrians. The operation of the system is dependent on traffic and weather conditions. Inadequate methods may endanger occupant safety. As a result, a precise combination of automation and manual input is essential for ADAS to work reliably. However, ADAS sensors can be costly to produce and install, increasing the total cost of automobiles. Some consumers can be deterred off by this expense, particularly in more price-sensitive markets. In addition, ADAS sensors rely on complicated software systems, and hackers could take advantage of any vulnerabilities in these systems. It is critical to have strong cybersecurity procedures in place to guard against potential cyber-attacks. Also, lack of standardisation between manufacturers and models can lead to compatibility concerns and impede ADAS system interoperability. Besides this, many customers can fail to completely understand the capabilities and limits of ADAS technology, resulting in misunderstanding or overreliance on these systems. All these factors are likely to pose threat to the ADAS sensor market growth throughout the forecast period.

Major market players are emphasising on research and development in order to develop innovative products in an attempt to enhance their existing product lineup. They are also employing various market strategies such as mergers, new product launches and acquisitions in order to gain a strong hold in the market. For example, Aptiv PLC, a worldwide technology firm fueling the future of mobility, announced the release of its next-generation Level 1-3 capable ADAS platform in January 2021. Aptiv's next-generation ADAS technology provides unprecedented levels of safety, comfort, and convenience. Later, LeddarTech®, a global pioneer in providing the most adaptable, durable, and accurate ADAS and AD software technology, unveiled the LeddarVisionTM Surround (LVS-2+) in March 2023. The LVS-2+ joins the LeddarVision Front-Entry LVF-E and Front-High LVF-H in the company's existing product lineup. These products are aimed at ADAS applications ranging from entry-level to premium-level. Additionally, in January 2023, Cognata announced the release of a new solution based on Microsoft Azure and AMD CPUs and GPUs that allows automotive customers to realistically and effectively analyse ADAS/AV sensors in realistic simulation scenarios. Cognata's Automated Driving Perception Hub evaluates sensors against a common set of industry-standard situations, allowing for rapid and easy evaluation of their performance.

North America is anticipated to be a lucrative market for the ADAS sensors owing to the increasing demand for effective ADAS systems in passenger and light commercial vehicles in the region. The presence of prominent automakers such as Tesla, General Motors, Ford, and Nissan is anticipated to promote market sales, as these firms are also developing autonomous cars for various industries such as healthcare, pharmaceutical, and logistics, which is expected boost the market expansion. Additionally, stringent regulations pertaining to driver safety in passenger, light, and heavy commercial vehicles are expected to fuel market growth, as these regulations are compelling manufacturers to launch advanced sensor-based technologies to improve comfort and navigation in modern and autonomous vehicles to reduce collisions, which may continue to push sales over. On the other hand, Asia Pacific is expected to witness a substantial growth in the ADAS sensor market. This growth is influenced by the expansion of the automotive sector as well as the increased use of connective technology-based equipment in new vehicle models. Moreover, increasing developments in adaptive cruise control and lane management to decrease road accidents and collisions in constrained routes are fuelling market expansion in the Asia Pacific region over the forecast period.