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The global ADAS and autonomous driving component market is expected to be valued at $39.79 billion and 518.6 million units in 2018 and is anticipated to grow at a CAGR of 12.51% and 13.29% respectively, during the forecast period, 2019-2029.
The increasing technological developments and advancements in ADAS systems, rising developments in connected infrastructure and intelligent transportation systems, the demand for ADAS features in commercial vehicles, and growing concerns and measures over road safety drive the market growth.
Technological advancements in the automotive industry have resulted in the worldwide adoption of ADAS and autonomous driving solutions. The changing paradigm of consumers as well as major automotive OEMs, the requirement of robust security mechanisms in the vehicle for the protection of drivers and passengers, impact of 5G technology enhancing the autonomous driving components, in