ADAS Radar Systems Market Size

ADAS Radar Systems Market size was over USD 11.03 Billion in 2023 and is set to reach USD 39.45 Billion by the end of 2036, growing at around 10.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of adas radar systems is assessed at USD 12.05 Billion. The major factor accredited to the market growth is the rising demand for safety feature-enabled vehicles owing to the surging cases of road accidents worldwide. World Health Organization 2022 statistics state that each year, road crashes are responsible for over 1 million deaths worldwide. Advanced Driver-Assistance Systems (ADAS), support driver in navigation, and parking, along with several other applications, whereas, ADAS radars sensors are mounted on vehicles for detecting objects in front of the vehicle which basically deliver drivers with safety alerts and enable in execution of safety operations such as automatic emergency braking (ABS), adaptive cruise control (ACC), and blind spot monitoring among others. Hence, the augmenting use of aforementioned advanced features and sensory technology in automobiles to ensure the safety of vehicles, drivers, and pedestrians is bolstering the market growth. As per findings over 9.6 billion automotive sensors were sold globally in 2021.