Advanced driving assistance systems (ADAS) prepave regulators, consumers and corporations for the medium-term reality of autonomous driving with adaptive cruise control, collision avoidance and lane departure warning system. Various sensors like camera, RADAR and LIDAR, integrated into the vehicle assist driving. In addition, deep learning approaches are utilized in a wide range of applications ranging from object detection and scene segmentation to engine fault diagnosis and emission management to detect vehicle network intrusion. In this paper, we scope out the state of the art sensors subsystems in terms of its functionality, characteristics, specifications and communication protocol, and we describe cognitive deep learning based algorithms required for environment perception through these sensors. Subsequently, we analyze the cognitive algorithm by profiling the standard deep learning models, explore different compute platforms and possible algorithm and hardware optimization scenarios.