Advanced Driver Assistance Systems (ADAS) Market Trends 2021
According to a study conducted recently by the strategic consulting and market research firm, BlueWeave Consulting, the global Advanced Driver Assistance Systems (ADAS) market was worth USD 24.7 billion in 2020 and is further projected to reach USD 54.2 billion by 2027, at a CAGR of 12.0% during the forecast period (2021-2027). The increasing demand for a safe, efficient, and convenient driving experience as well as the rising demand for luxury vehicles across the globe are the key factors driving the growth of the ADAS market. Additionally, the Original Equipment Manufacturers (OEMs) and government regulatory authorities are taking necessary steps to improve transportation by addressing major challenges like road accidents, traffic congestion, and the cost of transportation, which in turn is driving the market growth. The rapid growth of the automotive industry has led to the use of many sensors in o...