Analysis of ADAS Radar Systems Market Size by Research Nester Reveals the Market to Grow with a CAGR of 10% During 2023-2035 and Attain USD 36 Billion by 2035

Research Nester’s recent market research analysis on “ADAS Radar Systems Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global ADAS radar systems market in terms of market segmentation by vehicle type, system type, component, and by region.
Augmenting Use of Sensor Technologies in Vehicles to Promote Global Market Share of ADAS Radar Systems
The global ADAS radar systems market is estimated to grow majorly on account of the increasing adoption of sensors in vehicles for safety owing to the growing demand for automated services in vehicles. ADAS radars system are sensors set on vehicles to facilitate drivers with safety alerts and enable safety maneuvers like Automatic Emergency Braking, Adaptive Cruise Control, Cross-Traffic Alert, and Blind Spot Monitoring to prevent collision and reduce the severity of a collision in case of collision. Hence, the increasing concern about the growing road incidences is further expanding the demand for ADAS radar sensors, bolstering the market growth. As per the World Health Organization 2022 statistics, road crashes are responsible for more than 1 million deaths worldwide every year.
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Some of the major growth factors and challenges that are associated with the growth of the global ADAS radar systems market are:
Growth Drivers:
• Rising Penetration of Autonomous & Smart Vehicles
• Increasing Production of Vehicles
Challenges:
The rising cost associated with the manufacturing, installation, and maintenance of ADAS radar systems, and the complex in-built functions are some of the major factors anticipated to hamper the global market size of ADAS radar systems.
By vehicle type, the global ADAS radar systems market is segmented into heavy commercial vehicles (HCV), light commercial vehicles (LCV), and passenger vehicles. The passenger vehicle segment is poised to garner the highest revenue by 2035 by growing at a significant CAGR over the forecast period. The rise in the number of autonomous passenger vehicles with modern technologies together with the increasing disposable income of the global populace is augmenting the segment growth.
By system type, the global ADAS radar systems market is segmented into blind spot detection, parking assistance, lane departure warning system, autonomous emergency braking, intelligent headlights, adaptive cruise control, and heads-up display. The adaptive cruise control segment is to witness surging growth by 2035 owing to the increasing adoption of such systems to lessen the chances of collisions through speed control and increased spaces.
By region, the Asia Pacific ADAS radar systems market is to generate the highest revenue by 2035. This growth is anticipated by the increasing demand and sales of smart vehicles in the region incorporated with the latest technologies. Moreover, the presence of major automobile manufacturers and the growing production of automobiles with advanced features such as driver assistance systems in vehicles, are projected to boost the market growth.
The ADAS radar systems market in North America is estimated to be the second largest revenue-yielding market through 2035, owing to the rising demand for autonomous and connected vehicles in the region and increasing concern about growing road traffic accidents.
Further, the market in Europe is projected to grow as a result of the increasing investment in research & development in the automotive sector to develop advanced & autonomous vehicles.
This report also provides the existing competitive scenario of some of the key players of the global ADAS radar systems market which includes company profiling of Robert Bosch GmbH, Renesas Electronics Corporation, VALEO, Magna International Inc., DENSO Corporation, Continental AG, Aptiv plc, Hyundai Mobis (Hyundai Motor Group), Veoneer Inc., ZF Friedrichshafen AG, and others.
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https://www.researchnester.com/reports/adas-radar-systems-market/3787
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