Automotive Medium & Heavy Commercial Vehicle ADAS Market to Grow with a CAGR of 10.9% Globally through to 2028
Increasing Focus on Driver Comfort and
Efficiency, Growing Demand for Autonomous Commercial Vehicles, Technological
Advancements, and Increasing Autonomous Vehicle Development are factors driving
the Global Automotive Medium & Heavy Commercial Vehicle ADAS market in the
forecast period 2024-2028.
According to TechSci Research report, “Global Automotive
Medium & Heavy Commercial Vehicle ADAS Market - Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Automotive
Medium & Heavy Commercial Vehicle ADAS Market stood at USD 7 billion in
2022 and is anticipated to grow with a CAGR of 10.9% in the forecast period,
2024-2028. The
Global Automotive Medium & Heavy Commercial Vehicle Advanced Driver
Assistance Systems (ADAS) market is experiencing significant growth and
transformation as it adapts to the evolving landscape of the automotive
industry. ADAS technologies, which encompass a wide range of safety and driver
assistance features, are increasingly becoming integral components of
commercial vehicles worldwide. One of the key driving factors behind the
expansion of this market is a heightened focus on safety. Governments and
regulatory bodies across the globe have implemented stringent safety standards
for commercial vehicles, pushing manufacturers to equip their fleets with ADAS
systems. These systems offer critical safety features such as lane-keeping
assistance, adaptive cruise control, collision avoidance, and blind-spot
monitoring. The aim is to reduce the number of accidents involving medium and
heavy commercial vehicles, safeguarding both drivers and pedestrians.
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through XX Pages and an in-depth TOC on "Global Automotive
Medium & Heavy Commercial Vehicle ADAS Market.”
The Global Automotive Medium & Heavy Commercial
Vehicle Advanced Driver Assistance Systems (ADAS) market is currently
undergoing a profound transformation that is reshaping the landscape of
commercial vehicle operations. ADAS technologies are increasingly being
integrated into medium and heavy commercial vehicles, revolutionizing the way
these vehicles are operated and highlighting several key trends that are
shaping this market.
One of the primary driving forces behind the rapid
adoption of ADAS in the commercial vehicle sector is an unwavering commitment
to safety. Governments and regulatory bodies worldwide have recognized the
importance of reducing accidents involving commercial vehicles, given their
size and potential for causing severe damage. As a result, stringent safety
standards have been imposed, pushing commercial vehicle manufacturers to invest
heavily in ADAS systems. These systems include a wide range of features such as
lane-keeping assistance, adaptive cruise control, collision avoidance, and
blind-spot monitoring, all designed to enhance safety on the road. The ultimate
goal is to mitigate accidents, protect both drivers and pedestrians, and ensure
the overall well-being of road users. Furthermore, the expansion of e-commerce
and the growing demand for efficient logistics and transportation solutions
have added a layer of complexity to the commercial vehicle industry. Fleet
operators are under pressure to streamline their operations, reduce costs, and
meet customer expectations for timely deliveries. ADAS technologies are proving
to be instrumental in addressing these challenges. For instance, predictive
maintenance capabilities embedded in ADAS systems are helping prevent vehicle
breakdowns and reduce downtime, thereby optimizing vehicle performance and
lowering operational costs. Such efficiency gains are becoming essential in
today's competitive commercial vehicle market.
Another significant trend within the Global Automotive
Medium & Heavy Commercial Vehicle ADAS market is the gradual integration of
autonomous driving technologies. While fully autonomous commercial vehicles are
still a vision of the future, the industry is actively adopting semi-autonomous
features that enhance driver comfort and safety. Lane-centering, adaptive
cruise control, and automated parking are becoming increasingly prevalent in
medium and heavy commercial vehicles. These features not only reduce driver
fatigue but also lay the groundwork for the eventual realization of autonomous
freight transport. The potential impact of fully autonomous commercial vehicles
is monumental, promising not only increased safety but also improved efficiency
and reduced labor costs.
Connectivity is yet another pivotal aspect shaping the
commercial vehicle ADAS market. In a world increasingly driven by data,
commercial vehicles are becoming interconnected hubs on wheels. Telematics
systems and ADAS technologies are instrumental in enabling real-time monitoring
and management of commercial vehicle fleets. Operators can now track driver
behavior, monitor cargo conditions, and optimize routes using data-driven
insights. Enhanced connectivity is crucial for the effective functioning of
ADAS systems, as they rely on up-to-date information to make informed decisions
and ensure safer and more efficient journeys.
The emergence of 5G technology has been a game-changer
in enhancing connectivity within the commercial vehicle sector. With its low
latency and high bandwidth capabilities, 5G enables seamless communication
between vehicles, infrastructure, and cloud-based platforms. This is
particularly relevant for real-time updates on traffic, weather conditions, and
road hazards, all of which are critical for the proper operation of autonomous
and ADAS systems. The synergy between 5G and ADAS technologies is poised to
reshape the future of commercial vehicle operations, making them safer and more
efficient.
Furthermore, the proliferation of Internet of Things
(IoT) devices within commercial vehicles is pushing the boundaries of
connectivity. Sensors and devices that monitor vehicle health, cargo status,
and driver behavior have become standard features in modern commercial
vehicles. These devices not only provide valuable data for fleet management but
also contribute to the safety and efficiency of commercial operations. By
harnessing the power of IoT, operators can proactively address maintenance
issues, optimize fuel consumption, and ensure cargo integrity.
Major companies operating in Global Automotive Medium
& Heavy 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 Medium & Heavy Commercial Vehicle ADAS Market is undergoing a
significant transformation driven by the imperative of safety, efficiency, and
technological innovation. ADAS technologies are increasingly integrated into
commercial vehicles to enhance safety standards, comply with regulations, and
mitigate accidents. Fleet operators are leveraging ADAS features for predictive
maintenance, reducing downtime, and optimizing operational costs. Moreover, the
integration of autonomous driving elements and the advent of 5G connectivity
are reshaping the future of commercial vehicle operations. As the industry
embraces data-driven solutions and IoT devices, commercial vehicles are
becoming interconnected hubs, enabling real-time monitoring, efficient route
planning, and enhanced driver performance. This dynamic market continues to
evolve, promising a future where commercial vehicles are not only safer and
more efficient but also fully connected, automated, and technologically
advanced.,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Automotive Medium & Heavy 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 Medium & Heavy 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 Medium
& Heavy Commercial Vehicle ADAS Market.
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