NEW YORK , July 24, 2024 /PRNewswire/ -- The global automotive advanced driver assistance system (ADAS) market size is estimated to grow by USD 33.67 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 10.
87% during the forecast period. Decline in sensor prices is driving market growth, with a trend towards growing development of ai-enabled ADAS solutions. However, high costs associated with service and maintenance of adas poses a challenge.
Key market players include AISIN CORP., Aptiv Plc, Autoliv Inc., BorgWarner Inc.
, Continental AG, DENSO Corp., Gentex Corp., Harman International Industries Inc.
, HELLA GmbH and Co. KGaA, Hyundai Motor Co., Infineon Technologies AG, Intel Corp.
, Magna International Inc., NXP Semiconductors NV, Panasonic Holdings Corp., Renesas Electronics Corp.
, Robert Bosch GmbH, Valeo SA, Veoneer Inc., and ZF Friedrichshafen AG. Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report Market Driver Automotive companies are prioritizing customer needs and personalized solutions in a connected environment.
Artificial Intelligence (AI) technology is increasingly used in Advanced Driver Assistance Systems (ADAS) due to its ability to mimic human brain functions. AI-based ADAS continuously learns and enhances object detection and recognition. NVIDIA DRIVE AutoPilot, for instance, has AI capabilities that significantly improve object detection.
Major ADAS .