Automotive Light Commercial Vehicle ADAS Market to Grow with a CAGR of 9.2% Globally through to 2028

Increasing Safety Regulations and Standards, Growing Awareness of Vehicle Safety, Advancements in Sensor and Connectivity Technologies and Increasing Autonomous Vehicle Development are factors driving the Global Automotive Light Commercial Vehicle ADAS market in the forecast period 2024-2028.

 According to TechSci Research report, “Global Automotive Light Commercial Vehicle ADAS Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Automotive Light Commercial Vehicle ADAS Market stood at USD 12 billion in 2022 and is anticipated to grow with a CAGR of 9.2% in the forecast period, 2024-2028. The term "advanced driver assistance system" refers to a broad category of active and passive technologies that are all intended to help the driver by improving security and safety for the driver, passengers, and pedestrians while they are on the road. ADAS is made up of several essential parts, including software, sensors, cameras, radars, and other imaging devices. Among the many technologies that make up the ADAS are autonomous emergency braking, park assist, adaptive cruise control, and lane departure warning system. Automotive technology has advanced thanks to artificial intelligence (AI). Additionally, this market is expanding because of rising urbanization, industrialisation, improved living conditions, and increased disposable income.

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The global Automotive Light Commercial Vehicle Advanced Driver Assistance Systems (ADAS) market is experiencing a remarkable evolution, driven by a convergence of factors that are shaping the future of road safety, driver assistance, and the overall driving experience in light commercial vehicles (LCVs) across the world. This market is characterized by innovation, regulatory changes, technological advancements, and increasing consumer demand for safer and more convenient vehicles.

One of the primary drivers of the global LCV ADAS market is the rising focus on safety regulations and standards. Governments and regulatory bodies worldwide have recognized the potential of ADAS technology to reduce road accidents and save lives. Consequently, they have been mandating the incorporation of advanced safety technologies in vehicles. These regulations have made features like lane-keeping assist, adaptive cruise control, automatic emergency braking, and blind-spot monitoring not just desirable but essential in LCVs. These technologies are not only enhancing the safety of occupants but also making roads safer for all users.

Moreover, governments and regulatory bodies have been initiating incentive programs to promote the adoption of ADAS-equipped vehicles. These incentives, which often include tax benefits and financial subsidies, serve as powerful catalysts for market growth. For instance, China has implemented a subsidy program to encourage the adoption of electric vehicles equipped with ADAS capabilities, leading to a surge in demand for such vehicles. Another driving force behind the LCV ADAS market is the growing awareness among consumers and fleet operators regarding the critical role ADAS technology plays in vehicle safety. High-profile accidents, coupled with extensive road safety campaigns and media coverage, have underscored the importance of these technologies. As a result, consumers are increasingly inclined to choose LCVs with ADAS features that enhance their safety on the road. Simultaneously, fleet operators are recognizing ADAS as a means to reduce accidents and improve the overall efficiency of their operations. This heightened awareness is translating into a significant uptick in demand for ADAS-equipped LCVs. Furthermore, insurance companies have also come to recognize the value of ADAS in reducing accident rates. Some insurers now offer discounts to policyholders who drive vehicles equipped with advanced safety features. This financial incentive further drives consumers to opt for ADAS-equipped vehicles, emphasizing their role in making roads safer.

The rapid advancement of sensor and connectivity technologies is a pivotal driver of the LCV ADAS market. These technologies are the bedrock of ADAS systems, as they enable vehicles to gather real-time data about their surroundings and make informed decisions. Over the years, sensors such as radar, lidar, cameras, and ultrasonic sensors have undergone significant improvements in terms of accuracy, reliability, and cost-effectiveness. For example, the development of solid-state lidar sensors has made it more affordable and practical to integrate lidar into ADAS systems, allowing for precise depth perception and object detection.

In addition to sensor advancements, vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication technologies are playing an increasingly crucial role in enhancing ADAS capabilities. These technologies enable vehicles to share data with each other and with infrastructure, providing real-time information about road conditions, traffic, and potential hazards. This connectivity enhances the effectiveness of ADAS features and contributes to overall road safety.

Furthermore, the trend toward greater vehicle electrification and hybridization is influencing the LCV ADAS market. Electric and hybrid LCVs benefit from ADAS features that optimize their performance and efficiency. For example, regenerative braking optimization maximizes energy recovery during deceleration, enhancing the efficiency of electric vehicles. Additionally, ADAS systems can provide recommendations for route planning and charging station locations, helping EVs manage their power consumption more efficiently. As the electrification trend continues to grow, we can expect to see further integration between ADAS and electric vehicle technologies. This synergy will not only enhance the safety of electric and hybrid LCVs but also improve their overall efficiency and usability.

Major companies operating in Global Automotive Light Commercial Vehicle ADAS Market are:

• Robert Bosch GmbH
• Continental AG
• ZF Friedrichshafen AG
• DENSO CORPORATION
• Aptiv PLC
• Valeo SA
• Magna International Inc.
• Aisin Seiki Co. Ltd
• Autoliv Inc.
• Hyundai Mobis

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 “The global Automotive Light Commercial Vehicle Advanced Driver Assistance Systems (ADAS) market is experiencing dynamic growth and transformation. Driven by stringent safety regulations, increasing consumer awareness, and rapid technological advancements, ADAS is becoming an integral component of light commercial vehicles (LCVs) worldwide. These systems, including features like adaptive cruise control, lane-keeping assist, and automatic emergency braking, enhance safety, reduce accidents, and improve driver convenience. Additionally, sensor and connectivity technologies are advancing, enabling more sophisticated ADAS capabilities, while electric and hybrid LCVs are benefiting from ADAS integration to optimize performance. As the industry continues to innovate and adapt, the future of LCVs is poised to be safer, more efficient, and equipped with an expanded suite of ADAS features to meet the evolving needs of consumers and commercial operators alike.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Automotive Light Commercial Vehicle ADAS Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Sensor Type (Radar, Ultrasonic, Camera, Lidar), By Level of Autonomy (Level1, Level2, Level3, Level4, Level5), By Function (Collision Avoidance, Adaptive Cruise Control, Lane Departure Warning System, Emergency Braking, Park Assistance) By Region, By Competition, 2018-2028”, has evaluated the future growth potential of Global Automotive Light Commercial Vehicle ADAS Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Automotive Light Commercial Vehicle ADAS Market.

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