As per a survey by CAR – Center for Automotive Research and McKinsey, the market size for ADAS is expected to be 15.5 billion US dollars in 2022 and 36 billion US dollars in 2025. The market for self-driving cars is highly valuable.
The different sensors that have the potentiality to be used more in ADAS and AD systems are Radar, Lidar, Camera, and other ultrasonic devices. The navigation of self-driving cars is helped by such systems and obstacles are detected more on the road.
As the demand for such driving assistance technology is rising high globally, it is opening the door for more opportunities in the case of component suppliers mostly radar and LiDAR sensor makers
The size of the market is expected to be in billion US dollars in 2030. The RADAR is expected to be 14 billion US dollars, LiDAR is expected to be 12 billion US dollars, Camera is 8 billion US dollars and other ultrasonic devices are expected to be 9 billion US dollars.
As the discussion lies which ADAS systems would like to go for as a market to manufacture and expand and innovate more precise solutions to be more customized for the need of driverless cars or be the auto companies relying on one or all of them to make your autonomous vehicle more super-fast and exceed anybody’s expectation.
As per a survey by LexisNexis PatentSight and Cipher, LiDAR attracted the greatest number of publishing patents across the world and over the years Bosch holds the highest number of related patents.
The market is mostly captured by the German and US manufacturers as the largest patent holders.
Source:- Statista.