The global smart parking systems market is estimated to have stood at USD 7,956.2 million in 2023 and is assumed to reach USD 32,278.3 million by 2030, advancing at a CAGR of 22.3% during 2024–2030.
The global automotive manufacturing equipment market size is estimated to stood at USD 6,810.5 million in 2023, and it is expected to advance at a compound annual growth rate of 11.3% during 2024–2030, to reach USD 14,260.4 million by 2030.
The global connected car market size stood is estimated to be $64,061 million in 2022, and it is expected to advance at a compound annual growth rate of 18.30% during 2022–2030, to reach $245,739 million by 2030.
The global advanced driver assistance systems market size was valued at $25.84 billion in 2021, and this number is expected to increase to $72.2 billion by 2030, advancing at a CAGR of 12.1% during the forecast period.
The global power liftgate market was valued at ~$4 billion in 2020. These liftgates use a powerful hydraulic system to decrease the human effort in lifting heavy objects into vehicles, thus shortening the process.
The global drive by wire market was valued at ~$23 billion in 2020. The major factors responsible for the growth of the market include the rise in the stringency of the vehicular emission norms of governments, increasing development of autonomous vehicles, and growth of the connected infrastructure.
The global automotive wire harness market was valued at $42.8 billion in 2019, which is expected to grow at a CAGR of 4.7% during the forecast period (2020–2030).
The European automotive telematics market generated revenue of $7,340.3 million in 2019, and it is expected to progress with a CAGR of 16.1% during the forecast period (2020–2030).
The German automotive telematics market was valued at $1,408.2 million in 2019, and it is projected to advance with a CAGR of 16.5% during the forecast period (2020–2030).
The global automotive radar market reached $5,839.0 million in 2019, and it is expected to grow at a CAGR of 8.4% during the forecast period (2020–2030). The major factors driving the advance of the industry are the rising integration of advanced driver-assistance systems (ADAS) in vehicles and supportive government regulations for the usage of radars.
The U.S. advanced driver-assistance systems (ADAS) market is expected to witness considerable growth during the forecast period (2020–2030). ADAS include a wide range of safety features, such as autonomous emergency braking systems, lane departure warnings, lane keep assist, and adaptive lighting, among others.
The Indian advanced driver-assistance systems (ADAS) market is expected to witness considerable growth during the forecast period (2020–2030). The growing demand for vehicles integrated with advanced features, complemented by the increasing disposable income of people, is positively affecting the market for ADAS in the country.
The Europe advanced driver-assistance systems (ADAS) market is expected to witness considerable growth during the forecast period (2020–2030). ADAS is a combination of sensors that aid and improve safety of drivers and passengers on the road.
The value was $25,723.8 million in 2019, and the market is predicted to progress at a CAGR of 7.4% between 2020 and 2030, to reach $58,215.3 million by 2030.
The global automotive ultrasonic sensors market generated revenue of $3,461.9 million in 2019 and is expected to advance with a CAGR of 5.1% during the forecast period (2020–2030), to reach $6,096.2 million in 2030.
The global automotive light detection and ranging (LiDAR) market was estimated to be valued at $289.3 million in 2019 and is projected to advance with a CAGR of 26.1% between 2020–2030 (forecast period), to surpass $14,754.7 million by 2030.
The global automotive camera sensor market registered revenue of $1,869.4 million in 2019, and it is expected to reach $5,847.3 million in 2030, advancing with a CAGR of 11.0%, during the forecast period (2020–2030).
Valued at $11.5 billion in 2019, the global advanced driver-assistance system (ADAS) sensor market is expected to reach $40.8 billion by 2030, advancing with a CAGR of 11.7% during 2020–2030 (forecast period).
Valued at $27.7 billion in 2019, the global automotive telematics market is projected to advance with a CAGR of 16.6% during the forecast period (2020–2030), to generate revenue of $149.9 billion in 2030.
The APAC automotive semiconductor market is expected to witness enormous growth during the forecast period, owning to the increasing concerns for passenger’s safety, along with the growing importance of original equipment manufacturers (OEMs) toward the development of an efficient production option, by introducing additional high-tech features in their latest vehicle models.
The North American automotive semiconductor market is expected to witness notable growth during the forecast period 2019–2024, owning to the growing industry focus on safety regulations for automobiles, especially with respect to the incorporation of advanced lane departure warning systems, airbags, and electronic braking systems.
The global automotive air conditioner compressor market is anticipated to observe extensive growth in the coming years mainly due to the swift rise in the production of automobiles across major economies and the increasing installation of advanced comfort features in economy cars.
The global automotive anti-lock braking system (ABS) market is anticipated to raise at a steady rate mainly driven by the factors such as technological advancement, affordability, and amplified safety awareness, coupled with safety guidelines by various governments.
The U.S. connected car market attained a size of 12,354.8 million in 2017 and is forecasted to reach $37,350.1 million by 2023, registering a CAGR of 20.8% during 2018–2023. The major factors driving the market growth are increased focus toward safety and security, advancement of vehicle-to-vehicle (V2V) connectivity, and introduction of internet of things (IoT) in automotive industry.
The Indian automotive HMI market attained a size of $466.9 million in 2017 and is forecasted to reach $1 billion by 2023, registering a CAGR of 14.1% during 2018–2023. The major factors driving the market growth are increasing passenger car sales in the country, rising in-vehicle connectivity, and increasing demand for in-vehicle safety and comfort features.
The global automotive digital instrument cluster market was valued at $2.0 billion in 2017, which is expected to reach $6.6 billion in 2023, growing at a CAGR of 21.8% during 2018–2023.
Valued at $1.4 billion in 2017, the global artificial intelligence (AI) in transportation market is projected to reach $3.5 billion by 2023, witnessing a CAGR of 16.5% between 2018 and 2023.
Global connected truck market is estimated to observe a substantial growth in the coming years, due to growing demand for in-vehicle safety features, vehicle connectivity in logistics and transportation sector, driver assistance system, infotainment system, electrification and digitization of vehicle components, and autonomous driving.
Asia-Pacific multi camera system market is expected to witness significant growth in coming years owing to rising consumer demand for safety features and technology in automobiles, increasing mandates and regulation in many countries coupled with the growing demand of premium vehicles integrated with advanced driver assistance systems (ADAS).
Global automotive auto dimming mirror market is expected to see substantial growth in the coming years due to increasing concerns for passenger safety, rise in production of passenger cars, and increasing demand for luxury features in passenger cars. The increasing number of road accidents across the world is a prime concern for passengers and drivers.
The automotive anti-pinch power window system market size is expected to be valued at $3,611.2 million by 2023, witnessing a CAGR of 12.0% during the forecast period. Automotive anti-pinch is a safety system used in the power windows of a car. The technology prevents the winding up of the window if it senses any obstacle in the path of the glass. The electric motor is fitted with a sensor that can sense the resistive force acting against the motion of the glass.
Automotive E-Tailing refers to online selling of automotive components. The global automotive E-Tailing market comprise a wide range of automotive components including infotainment-multimedia, interior accessories, powertrain, tires and wheels, electrical and electronics products. The global automotive E-Tailing market includes transactions that are conducted over an electronic network where the buyer and merchant are not physically present. The automotive E-Tailing includes both business-to-business and business-to-consumer
The global adaptive cruise control market was valued at $4.8 billion in 2016, which is expected to reach $15.3 billion by 2023, exhibiting a CAGR of 18.3% during 2017–2023.
The Advanced Transportation Pricing Systems (ATPS) includes vehicle miles travelled (VMT) fee systems, fee-based express lanes, congestion pricing, and electronic toll collection. Some of the factors driving the growth of the advanced transportation pricing systems market are cashless travel facility, need for saving travel time, and fast toll collection.
The increased demand for safety of drivers in automobiles and comfort features is driving the growth of the global automotive rain sensors market. The adoption of automotive rain sensors is driven by the growing use of advanced electrical features in vehicles. The increasing demand for convenience has forced the original equipment manufacturers (OEMs) to integrate their vehicles with
With the growing dependence on video surveillance for safety purposes, the demand for vehicle cameras is expected to grow during the forecast period. The growth of the global vehicle camera market is driven by the constantly increasing population and advancements in complementary metal oxide semiconductor (CMOS) image sensors used in automotive cameras. The changing
The global tyre pressure monitoring system (TPMS) market is driven by the technological advancements and increased safety awareness among consumers. The increase in vehicle sales as a result of growth in per capita income of consumers is another factor, which is driving the growth of the global tyre pressure monitoring system industry. The reduced fuel consumption, real time
The growth in demand of human machine interface (HMI) systems is driving the growth of the global automotive infotainment market. To replace any kind of human interference, Nissan has announced the development of self-driving cars by 2020. Some of the other growth drivers of the global infotainment market are increased adoption in small and medium-sized cars. The
The increase in vehicle sales, customer’s preference for sophisticated and reliable vehicle security systems and government regulations are the major growth drivers for the global car security systems market.
The demand for automotive control functions that are accessible directly by the driver is increasing in automobiles, owing to extensive use of sensors and modern automotive control amenities in passenger cars. The major objective of automotive cockpit electronics is to enhance the driving experience, provide convenience, safety and