Global Automotive Radar Market

Automotive Radar Market Size, Share, Growth Analysis, By Application(Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB)), By Frequency(24 GHz, 77 GHz), By Vehicle Type(Passenger car, and Commercial Vehicles) - Industry Forecast 2024-2031


Report ID: SQMIG25A2193 | Region: Global | Published Date: April, 2024
Pages: 223 | Tables: 94 | Figures: 67

Automotive Radar Market Insights

Global Automotive Radar market size was valued at USD 4.40 billion in 2022 and is poised to grow from USD 4.86 billion in 2023 to USD 10.81 billion by 2031, growing at a CAGR of 10.5% in the forecast period (2024-2031).

Over recent decades, the heightened focus on safety for drivers, passengers, and all road users has intensified significantly, mirroring the alarming rise in global road accidents. A stark illustration of this issue is highlighted by the National Highway Traffic Safety Administration's (NHTSA) report, citing an estimated 31,785 fatalities from traffic crashes in the US during the initial nine months of 2022. Radar sensors have emerged as indispensable tools for detecting vehicles, pedestrians, bicyclists, and assessing the surrounding road environment.

Market snapshot - 2024-2031

Global Market Size

USD 4.40 billion

Largest Segment

Short-Range Radar

Growth Rate

10.5% CAGR

Global Automotive Radar Market ($ Bn)
Country Share for North America Region (%)
Global Automotive Radar Market By Range (%)

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Automotive Radar Market Segmental Analysis

The global Automotive Radar market is segmented into five segments i.e. by Application, Frequency, Range, Vehicle Type and Region. Based on Application the market is segmented as, Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Blind Spot Detection (BSD), Forward Collision Warning System, Intelligent Park Assist, Other ADAS Applications. Based on Frequency the market is segmented as, 24 GHz, 77 GHz, 79 GHz. Based on Range the market is segmented as, Long-range RADAR (LRR), Short and Medium Range RADAR (S&MRR). Based on Vehicle Type the market is segmented as, Passenger car, Commercial Vehicles. Based on Region the market is segmented as, North America, U.S., Canada, Mexico, Europe, Germany, UK, Italy, France, Spain, Rest of Europe, Asia-Pacific, Japan, China, India, South Korea, Australia, Rest of Asia-Pacific, LAMEA, Brazil, Saudi Arabia, Rest of LAMEA.

Analysis by Vehicle

The forecasted growth trajectory in the passenger cars segment is set to outpace that of commercial vehicles, propelled chiefly by the mounting consciousness surrounding vehicle safety among owners of mid-priced vehicles. This burgeoning awareness among consumers regarding the importance of safety features within their vehicles, particularly within the mid-priced range, stands as the primary catalyst fueling the expansion of this segment.

The surging logistics industry, buoyed by the thriving e-commerce landscape, has sparked a notable uptick in sales for commercial vehicles. This exponential growth is largely attributed to the expanding demands of a rapidly evolving logistics sector, especially fueled by the escalating prevalence of online retail. Moreover, the growing customer expectations for enhanced vehicle autonomy within the realm of commercial vehicles stand poised to further propel the growth of this segment.

Analysis by Range

Medium and short-range radar dominated the market share and continue to exhibit rapid growth, emerging as the fastest-growing segment. These radars hold significant prominence in vehicle safety systems, excelling in the detection of objects within a vehicle's immediate vicinity. Their applications extend to crucial safety features such as blind spot detection, lane change assist, and park assist, enhancing driver awareness and mitigating potential hazards.

Long-range radars play a pivotal role in Adaptive Cruise Control (ACC) systems, offering extended detection capabilities crucial for maintaining safe distances between vehicles. The growing adoption of ACC, particularly within mid-priced vehicles, stands as a significant driving force behind the anticipated growth in the long-range radar segment.

Global Automotive Radar Market By Range, 2022 (%)

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Automotive Radar Market Regional Insights

North America is poised to exhibit lucrative growth in the market throughout the forecast period, primarily attributed to the continuous technological advancements of RADAR sensors by automotive manufacturers within the region, particularly in the realm of Advanced Driver Assistance Systems (ADAS). The steady evolution and innovation of sensor-based technologies in the automotive sector have led to an escalating adoption rate. As a result, the demand for integrated, advanced driver assistance systems that harness the combined capabilities of RADAR sensors is expected to soar, further propelling market expansion in North America.

Asia Pacific is positioned for significant and profitable growth, currently commanding the largest share in this market, having been valued at USD 1.81 billion in 2022. The Original Equipment Manufacturers (OEMs) within this region have been pivotal in driving this expansion by introducing cutting-edge technologies aimed at alleviating traffic congestion and enhancing the overall convenience of transportation systems.

Global Automotive Radar Market By Region, 2024-2031
  • Largest
  • Fastest

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Automotive Radar Market Dynamics

Drivers

Rising Sales And Demand For Passenger Vehicles Is Expected To Propel Market Growth

  • The anticipated surge in sales and demand for passenger vehicles within developing countries stands poised to fuel substantial market growth throughout the forecast period. Countries such as India, China, Japan, and South Korea are projected to significantly contribute to the escalating demand for passenger vehicles. This surge aligns with increasing investments in Research and Development by key industry players within these regions, fostering technological advancements in radar systems integrated into passenger vehicles.

Restraints

Limiting Robust Machine Vision to Hamper the Growth of the Market

  • Radar technology boasts a robust capacity for tracking the trajectory of moving objects and providing a view of surroundings. Yet, the inherent irregularity of radio waves imposes limitations on object classification and vehicle localization. Within Advanced Driver Assistance System (ADAS) applications, radar typically operates within gigahertz frequencies, typically falling between 70 GHz and 90 GHz. However, this usage of very narrow frequency bands comes at the cost of compromised angular resolution in radar devices.

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Automotive Radar Market Competitive Landscape

The competitive environment of the global Automotive Radar Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry.

Top Player’s Company Profiles

  • Continental AG
  • Denso Corporation
  • Hella KGaA Hueck & Co.
  • Infineon Technologies AG
  • Veoneer, Inc.
  • Autoliv, Inc.
  • NXP Semiconductors
  • Valeo Group
  • ZF Friedrichshafen AG
  • Texas Instruments
  • Others

Recent Developments

  • In January 2024, Texas Instruments, headquartered in Dallas, unveiled innovative semiconductor solutions aimed at enhancing automotive safety and intelligence. These semiconductors represent a breakthrough in radar sensor technology, offering the industry's first radar sensor chips tailored for satellite radar architectures. Among these advancements is the AWR2544 77GHz millimeter-wave radar sensor chip, designed to elevate autonomy levels by enhancing sensor fusion and decision-making capabilities within advanced driver assistance systems (ADAS). The company showcased these cutting-edge technologies at the 2024 CES conference in Las Vegas.  
  • In November 2023, Radar Auto, the electric outdoor lifestyle vehicle brand under Geely, introduced its RD6 electric pickup truck in Laos, marking its debut in Southeast Asia. The launch event took place at Radar's inaugural flagship store in Vientiane, Laos, on November 21. This move signifies Radar Auto's entry into the global market, where it will compete with other international pickup truck brands. 
  • In September 2023, during the IAA Mobility 2023 event in Munich, Mobileye and Valeo unveiled an exciting collaboration: a new partnership aimed at developing software-defined imaging radars renowned for their superior performance in driver assistance and automated driving functions of the future.

Automotive Radar Key Market Trends

  • The global surge in road accidents has fueled a pronounced uptick in the demand for safety enhancements within vehicles such as but not limited to parking assistance, collision avoidance systems, lane departure warnings, traction control, electronic stability control, tire pressure monitors, airbags, and telematics. This heightened emphasis on safety features stems from the pressing need to mitigate the escalating number of accidents worldwide.

Automotive Radar Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research. The automotive radar market is witnessing robust growth propelled by escalating safety apprehensions among both drivers and passengers, spurred by the surging incidents of accidents and traffic congestion. Key industry players, including major car manufacturers, are making substantial investments aimed at enhancing vehicle safety standards. This strategic focus on upgrading both commercial and passenger vehicles stands as a defining trend shaping the automotive radar market.

Report Metric Details
Market size value in 2022 USD 4.40 billion
Market size value in 2031 USD 10.81 billion
Growth Rate 10.5%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Application
    • Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Blind Spot Detection (BSD), Forward Collision Warning System, Intelligent Park Assist, and Other ADAS Applications
  • Frequency
    • 24 GHz, 77 GHz, 79 GHz. Based on Range the market is segmented as, Long-range RADAR (LRR), and Short and Medium Range RADAR (S&MRR)
  • Vehicle Type
    • Passenger car, and Commercial Vehicles
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Continental AG
  • Denso Corporation
  • Hella KGaA Hueck & Co.
  • Infineon Technologies AG
  • Veoneer, Inc.
  • Autoliv, Inc.
  • NXP Semiconductors
  • Valeo Group
  • ZF Friedrichshafen AG
  • Texas Instruments
  • Others
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Automotive Radar Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Automotive Radar Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Automotive Radar Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive Radar Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive Radar Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Automotive Radar Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Automotive Radar market size was valued at USD 4.40 billion in 2022 and is poised to grow from USD 4.86 billion in 2023 to USD 10.81 billion by 2031, growing at a CAGR of 10.5% in the forecast period (2024-2031).

The competitive environment of the Automotive Radar Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry. 'Continental AG', 'Denso Corporation', 'Hella KGaA Hueck & Co.', 'Infineon Technologies AG', 'Veoneer, Inc.', 'Autoliv, Inc.', 'NXP Semiconductors', 'Valeo Group', 'ZF Friedrichshafen AG', 'Texas Instruments', 'Others'

The anticipated surge in sales and demand for passenger vehicles within developing countries stands poised to fuel substantial market growth throughout the forecast period. Countries such as India, China, Japan, and South Korea are projected to significantly contribute to the escalating demand for passenger vehicles. This surge aligns with increasing investments in Research and Development by key industry players within these regions, fostering technological advancements in radar systems integrated into passenger vehicles.

The surge in road accidents has fueled a pronounced uptick in the demand for safety enhancements within vehicles such as but not limited to parking assistance, collision avoidance systems, lane departure warnings, traction control, electronic stability control, tire pressure monitors, airbags, and telematics. This heightened emphasis on safety features stems from the pressing need to mitigate the escalating number of accidents worldwide.

North America is poised to exhibit lucrative growth in the market throughout the forecast period, primarily attributed to the continuous technological advancements of RADAR sensors by automotive manufacturers within the region, particularly in the realm of Advanced Driver Assistance Systems (ADAS). The steady evolution and innovation of sensor-based technologies in the automotive sector have led to an escalating adoption rate. As a result, the demand for integrated, advanced driver assistance systems that harness the combined capabilities of RADAR sensors is expected to soar, further propelling market expansion in North America.

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