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The Automotive ADAS (Advanced Driver Assistance Systems) Market will be worth US$ 131 billion by year 2032. The market is estimated to expand at a CAGR of 9.6% over the course of the forecast period. In 2021, the ADAS market was estimated to be worth US$ 29 billion. The demand for Advanced Driver Assistance Systems (ADAS) in the automotive industry is expected to grow significantly in the coming years. There are several factors driving this growth, including increasing safety regulations, rising consumer demand for safety features, and advancements in technology. One of the key drivers of ADAS demand is safety regulations. Governments around the world are implementing stricter safety standards for vehicles, which is leading automakers to incorporate more safety features into their vehicles. ADAS systems such as automatic emergency braking, lane departure warning, and adaptive cruise control can help prevent accidents and reduce the severity of crashes, making them an essential component of modern vehicles. Almost all vehicles accidents are caused by human error, which can be avoided with advance driver assistance system (ADAS). The role of ADAS is to prevent deaths and injuries by reducing the number of car accidents and serious impact of those that cannot be avoided. ADAS manufacturers/ developers have developed systems focusing their efforts on making driving experience safer and having human less human interference. As a result, the advance driver assistance system industry is predicted to grow steadily in the future. Strict regulations imposed on car manufacturers by various government bodies around the world promoting passenger safety will aid overall growth of the market. During the forecast period, growth in the automotive industry, combined with rising government initiatives to adopt advanced technologies, develop increasingly structured safety features, and a rising trend of government and consumer adoption of autonomous vehicles will open new revenue paths for the global ADAS market. During the forecast period, the global ADAS market will benefit from an increase in per-capita consumer spending power in developing economies, as well as an increase in demand for premium and luxurious features in their vehicles. However, high initial costs and an increase in malfunctioning components may limit the global ADAS market growth. Nonetheless the market is predicted to grow due to rising demand from emerging countries such as China, India, Germany and others. For more information: https://www.futuremarketinsights.com/reports/adas-market Key Takeaways from Market Study By ADAS type, night vision system (NVS) sales are expected to grow at a CAGR of 9%in global market. By technology type, ultrasonic sensor and radar sensor segment is expected to lead with a market share of more than 0%. By vehicle type, the passenger vehicle segment will dominate the market with more than 71%of the market share. In terms of region, South Asia and Pacific is predicted to exhibit a CAGR of 12.4%. “The swift expansion of the automotive sector has resulted in an increase in car production, accelerating the growth of the advance driver assistance system market. The market will gain traction in response to the rising demand for safe care driving and implementation of regulations ascertaining improved road safety.” says a Future Market Insights analyst. Advance Driver Assistance System Market Competitive Landscape Manufacturers in the global advance driver assistance system market are focusing on the development of new ADAS type with decreased human interference and increased accountability. Key Companies Profiled Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG, DENSO corporation, Mobileye, Aptiv Plc, Veoneer Inc., Autoliv Inc., Valeo SA, Magna International, Aisin Seiki Co. Ltd., Panasonic corporation, Texas Instruments, NVIDIA corporation, NXP Semiconductors NV, Renesas Electronics Corporation, Intel Corporation, Hitachi, Harman International Industries

A recently published study by FMI expects the global automotive axle market reached a market value of US$ 61.2 billion in 2022 and is anticipated to reach US$ 74.60 billion by 2032, growing at a CAGR of 2%. Increase in sales of luxurious cars, passenger cars and heavy commercial cars are escalating the demand for automotive axles. As electric vehicles penetrate the market, the demand for automotive axles is expected to grow with time. Electric Vehicle (EV) Adoption: With the growing adoption of electric vehicles, the demand for lightweight and efficient axles is expected to increase. EVs require axles that are capable of handling the high torque produced by electric motors and are designed to accommodate the battery and other electric components. Technological Advancements: Automotive axles are evolving with new technologies such as 3D printing, carbon fiber, and advanced materials. These advancements are expected to improve the efficiency and durability of the axles, resulting in increased demand. Commercial Vehicle Demand: The demand for automotive axles in commercial vehicles, such as trucks and buses, is expected to grow due to the increasing demand for efficient transportation and logistics services. Commercial vehicle axles are required to handle heavy loads and provide better fuel efficiency. From 2017 to 2021, the industry experienced noteworthy growth, registering a value CAGR of 2% and closing at US$ 60 Billion. Although the COVID-19 pandemic halted the growth of the automotive axle market, post the pandemic, the demand is expected to rise. Manufacturers of automotive axles are focusing on producing cost-efficient and durable axles. Hybrid and electric vehicles are creating lucrative opportunities for automotive axles. For more information: https://www.futuremarketinsights.com/reports/automotive-axle-market Furthermore, increasing purchasing capacity in regions like Asia Pacific, North America and Europe is positively influencing the market for automotive axles. Moving ahead, owing to the research undertaken for automotive axles, manufacturers are planning to integrate smart features to axles that will help the vehicle to carry heavy loads. Key Takeaways from the Market Study By vehicle type, passenger cars are expected to hold nearly 45% market share for automotive axles in the forecast period 2022-2032. By type, drive axles are expected to possess 60% market share for automotive axles in the sales indicator period 2022-2032. Asia Pacific is expected to possess 36% market share for automotive axles in the assessment period 2022-2032. North America is expected to hold 25% market share of automotive axles Europe is expected to hold 20% market share of automotive axles as of 2022 “Passenger vehicles are gaining immense popularity across different geographical locations. In addition, increase in transportation activities is playing a pivotal role in the demand for automotive axles.” says an analyst at FMI Market Competition Top Global automotive axle manufacturers are ZF Friedrichshafen AG, Melrose Industries PL, American Axle & Manufacturing, Inc., Meritor Inc., Dana Incorporated, Daimler AG, Talbros Engineering Limited and GNA Group In February 2022, Meritor Inc extended agreement with Wabash till 2026. Due to the agreement, the company will provide loose axles for Wabash’ configuration. Dana Incorporated, a key player in the automotive axle market is focusing on offering a wide variety of axles for different types of vehicles.