The global market for advanced driver assistance systems (ADAS) is expected to reach more than $67 billion by 2025, growing more than 10% each year, though automotive sensor growth has been slowed by COVID-19.
The radar sensor market is in a period of rapid technological innovation, according to data from Research and Markets. However, development for these innovations is witnessing a decline in growth due to major automotive manufacturing plants halting production earlier in the year as a result of COVID-19. New opportunities for radar technology are still emerging and being developed, including vital-sign driver monitoring systems, chassis-to-ground monitoring, and hands-free trunk opening
The North America region is one of the pioneers in adopting ADAS-enabled vehicles and self-driven transportation solutions. According to the Deutsche Bank, the U.S. ADAS unit production volume is expected to reach 18.45 million by 2021.
Owing to the better performance, prominent companies, like Google, Uber, and Toyota, are using LiDAR. At the same time, the relatively lower cost has persuaded Tesla to use radar sensors as the primary sensors in its self-driving cars. These companies are continuously trying to incorporate multiple alternative sensing technologies in a vehicle to enhance the effectiveness of the system.
The increasing research and development activities to roll out fully autonomous cars require sensing technologies that are of great importance to enable 360-degree safety around the vehicle.