PUBLISHER: 360iResearch | PRODUCT CODE: 1466307
PUBLISHER: 360iResearch | PRODUCT CODE: 1466307
[181 Pages Report] The Commercial Vehicle ADAS Market size was estimated at USD 17.66 billion in 2023 and expected to reach USD 19.99 billion in 2024, at a CAGR 13.64% to reach USD 43.24 billion by 2030.
Advanced driver assistance systems (ADAS) for commercial vehicles encompass a suite of technologies aimed at enhancing safety, efficiency, and driver comfort in trucks, buses, and other heavy-duty vehicles. These systems leverage sensors, cameras, radars, and artificial intelligence to provide functionalities such as adaptive cruise control, lane departure warnings, automatic emergency braking, blind-spot detection, and more. As commercial vehicles play a pivotal role in global logistics and transportation, the implementation of ADAS technologies significantly impacts the reduction of accidents, property damage, and fatalities, thereby improving overall road safety. The increasing number of production of commercial vehicles with an expanding focus on improving safety features is driving the growth of the commercial vehicle ADAS market. Growing mandates from governments and transportation authorities for the inclusion of basic ADAS features in new commercial vehicles to improve road safety standards are creating a platform for market growth. As the automotive industry moves towards the development and deployment of autonomous vehicles, ADAS technologies are foundational elements in this transition, providing the necessary building blocks for fully autonomous functionality. High initial costs for the incorporation of ADAS technologies and complexities in the maintenance of ADAS hampers the growth of the market. Continuous improvements in sensor technology, machine learning algorithms, and connectivity solutions that expand the capabilities and reliability of ADAS features is expected to create opportunities for market growth.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 17.66 billion |
Estimated Year [2024] | USD 19.99 billion |
Forecast Year [2030] | USD 43.24 billion |
CAGR (%) | 13.64% |
Offering: Increasing adoption of software due to its ease of update, enabling continuous improvement and compliance with safety regulations
Cameras in commercial vehicle ADAS systems are pivotal for providing real-time visual information. They enable features such as lane departure warnings and assist with object detection, contributing significantly to the vehicle's overall situational awareness. Light detection and ranging (LiDAR) sensors offer high-resolution, three-dimensional information about the vehicle's surroundings. They are crucial for accurately detecting obstacles and mapping environments, particularly in autonomous driving scenarios. RADAR sensors assist in detecting the speed and distance of objects in relation to the commercial vehicle. They are essential for adaptive cruise control and collision avoidance systems, providing reliable data even under adverse weather conditions. Ultrasonic sensors are primarily used for low-speed functions such as parking assistance and blind-spot detection. They emit ultrasonic waves to measure distances to nearby objects, facilitating safe maneuvering in tight spaces. The commercial vehicle ADAS software component integrates data from various hardware sensors to make real-time decisions. It encompasses algorithms for object detection, data processing, and the execution of safety features such as automatic emergency braking. This software is continuously refined to enhance system reliability and vehicle safety.
Application: Rising potential of ADAS in heavy commercial vehicles for enhancing road safety and operational efficiency
In the context of heavy commercial vehicles (HCVs), ADAS technologies play a critical role in enhancing road safety and operational efficiency. Vehicles within this segment include trucks, buses, and coaches that are primarily used for cargo and passenger transport. The application of ADAS in HCVs aims at reducing road fatalities, improving fuel economy, and reducing CO2 emissions. Technologies such as Adaptive Cruise Control (ACC), Lane Departure Warning Systems (LDWS), and Automatic Emergency Braking (AEB) are pivotal in preventing accidents that could lead to significant financial losses and, more importantly, loss of life. Moreover, given the longer travel distances and the heavy reliance on highways, systems including, Electronic Stability Control (ESC) and Blind Spot Detection (BSD) significantly contribute to safer transportation in this vehicle segment. Light Commercial Vehicles (LCVs) encompass a broad range of vehicles, including vans, pickup trucks, and small trucks, which are used for light delivery services and passenger transport. The application of ADAS in LCVs focuses on maneuvers in urban environments and around obstacles, where navigation in tighter spaces is a common challenge. Here, technologies such as Parking Assistance, Rear-view Cameras, and Cross-Traffic Alerts are particularly beneficial in avoiding collisions and facilitating safer and more efficient vehicle handling. Additionally, fatigue monitoring systems are gaining traction in LCVs to address the considerable amount of time drivers spend on the road, thereby ensuring their well-being and safety.
Regional Insights
The Americas region exhibits a high adoption rate of ADAS technologies, driven primarily by stringent regulatory standards to enhance road safety and reduce traffic fatalities. In the United States, regulations and incentives supporting the deployment of ADAS technologies in commercial vehicles have significantly influenced market growth. Furthermore, the region's well-established trucking industry and ongoing investments in autonomous and electric vehicles suggest a promising trajectory for the ADAS market. APAC represents a rapidly growing market for Commercial Vehicle ADAS, fueled by burgeoning economies such as China, Japan, South Korea, and India. The region is characterized by a strong emphasis on innovation and manufacturing capabilities, making it a vital player in the global ADAS market. Additionally, the increasing focus on smart city projects and the incorporation of connected vehicle technologies are expected to propel market growth in the region further. The European Union has been at the forefront, implementing stringent safety regulations that mandate the inclusion of certain ADAS features in commercial vehicles. This regulatory environment, with high safety standards and a focus on reducing emissions, significantly drives the ADAS market in Europe. On the other hand, the Middle East and Africa represent emerging markets with untapped potential. The Gulf Cooperation Council (GCC) countries, particularly, are displaying increasing interest in road safety technologies amid their broader economic diversification and smart city initiatives.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Commercial Vehicle ADAS Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Commercial Vehicle ADAS Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Commercial Vehicle ADAS Market, highlighting leading vendors and their innovative profiles. These include Aeva Inc., Aisin Corporation, Analog Devices, Inc., Autoliv Inc., Continental AG, Gauzy Ltd, GILLIG LLC, Harman International by Samsung Electronics Co., Ltd., HERE Global B.V., NuPort Robotics, Robert Bosch GmbH, STMicroelectronics NV, TomTom International BV, Valeo SA, Volvo AB, and ZF Friedrichshafen AG.
Market Segmentation & Coverage
1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
1. What is the market size and forecast of the Commercial Vehicle ADAS Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Commercial Vehicle ADAS Market?
3. What are the technology trends and regulatory frameworks in the Commercial Vehicle ADAS Market?
4. What is the market share of the leading vendors in the Commercial Vehicle ADAS Market?
5. Which modes and strategic moves are suitable for entering the Commercial Vehicle ADAS Market?
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