Press Release

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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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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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

Automotive | Oct, 2023

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.

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