Automotive ADAS Aftermarket Set To Surge With Innovations, Market Expansion

Mobility Outlook Bureau
23 Jan 2024
08:00 AM
1 Min Read

A major catalyst propelling the global automotive ADAS aftermarket is the declining prices of sensors.


The automotive Advanced Driver Assistance System (ADAS) aftermarket is poised for remarkable growth, projecting a surge of $3.18 billion between 2022 and 2027, with a robust CAGR of 10.5%. This flourishing market is witnessing dynamic shifts and advancements, driven by a multitude of global and regional players.

Key Players

Leading the charge is Brandmotion LLC, offering cutting-edge products like ADAS 1100. Continental AG follows suit with a range of ADAS sensors and computing hardware, ensuring 360-degree perception. Meanwhile, CUB ELECPARTS Inc. brings to the table innovative solutions, including millimeter-wave radars and radar customisation systems.

Other key players such as BorgWarner Inc., Garmin Ltd., Hella GmbH, Intel Corp., and many more contribute to the market's vibrancy and competitiveness.

Global Landscape

Geographically, the market spans North America, Europe, APAC, Middle East, Africa, and South America. APAC, making up 33% of the global market, takes the lead, with the US being a pivotal contributor in North America. The region showcases heightened awareness, particularly with the integration of ADAS technologies becoming standard in new vehicles.

Driving Forces

A major catalyst propelling the global automotive ADAS aftermarket is the declining prices of sensors. Lower sensor costs fuel accessibility, promoting the integration of safety features like Lane Departure Warning Systems, Blind Spot Detection, and Adaptive Cruise Control, making these features more affordable and widespread.

Trends and Challenges:

An emerging trend is the development of aftermarket ADAS for commercial vehicles (CVs). This trend encompasses various aspects, including Software Updates, Telematics Integration, and 5G Connectivity, indicating a significant paradigm shift in the industry. However, a substantial challenge lies in the adoption of active ADAS technologies by original equipment manufacturers (OEMs), hindering market expansion.

Market Segmentation:

The market is segmented based on technology, with the passive park assist segment predicted to witness substantial growth. This includes rear parking sensors, reversing cameras, and rear cross-traffic alerts, catering to customers seeking cost-effective solutions for lower-spec and older model vehicles.

In essence, the automotive ADAS aftermarket is navigating a transformative journey, embracing innovations, overcoming challenges, and steering towards a future where advanced safety features become an integral part of every vehicle on the road.

Also Read:

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Uno Minda Launches Car DVR With ADAS For Aftermarket

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