Global Automotive Radar Sensors Market

Automotive Radar Sensors Market Size, Share, Growth Analysis, By Range (Short Range, Medium Range), By Application (Lane Change Assist, Adaptive Cruise Control), By Vehicle Type (Passenger Cars, Commercial Vehicles), By Region - Industry Forecast 2024-2031


Report ID: SQMIG25A2050 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 89 | Figures: 76

Automotive Radar Sensors Market Insights

Global Automotive Radar Sensors Market size was valued at USD 9.5 billion in 2022 and is poised to grow from USD 11.69 billion in 2023 to USD 61.67 billion by 2031, growing at a CAGR of 11.80% during the forecast period (2024-2031).

Automotive Radar Sensors are becoming popular since It has many advantages like optical imaging, video, ultrasonic infrared, LIDAR and radar. In optical imaging, it provides a large field of view which is high resolution. The ultrasonic applications of automotive radar can be operative in all weather and light conditions along with it is cost effective too.

The automotive radar sensors are of different types, which includes short range radar, mid range radar and long range radar. The reliability and versatility make them irreversible and irreplaceable parts in modern ADAS/AD systems. It operates with high precision and accuracy information content, including speed and range detection when compared to other alternative sensors, especially the visual sensors which were previously used. Increase demand for premium segment vehicle has led to the increase the use of automotive radar sensors in it. However, solution installation and rising cost of devices restricts the growth of automotive radar as it increases the overall cost of the vehicle in which it is applied.

US Automotive Radar Sensors Market is poised to grow at a sustainable CAGR for the next forecast year.

$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Global Automotive Radar Sensors Market size was valued at USD 9.5 billion in 2022 and is poised to grow from USD 11.69 billion in 2023 to USD 61.67 billion by 2031, growing at a CAGR of 11.80% during the forecast period (2024-2031).

Competition in the global Automotive Radar Sensors Market is expected to increase during the forecast period because new players are expected to enter in the global market and the number of devices compatible with Automotive Radar Sensors will also increase. Currently, only a few key players are providing their services in the global market but these numbers will increase in the upcoming years. 'Acconeer AB (Sweden) ', 'AISIN CORP. (Japan) ', 'Arbe Robotics Ltd (Israel) ', 'Autoliv Inc. (Sweden) ', 'Banner Engineering Corp. (US) ', 'Denso Corporation (Japan) ', 'Faurecia SE (France) ', 'Infineon Technologies AG (Germany) ', 'MediaTek Inc. (Taiwan) ', 'NXP Semiconductors NV (Netherlands) ', 'Renesas Electronics Corp. (Japan) ', 'Robert Bosch GmbH (Germany) ', 'Rohde and Schwarz GmbH and Co. KG (Germany) ', 'S.M.S. Smart Microwave Sensors GmbH (Germany) ', 'Schaeffler AG (Germany) ', 'Texas Instruments Incorporated (US) ', 'Valeo SA (France) ', 'Vayyar Imaging Ltd. (Israel) ', 'Eravant (US) ', 'Continental AG (Germany) ', 'ZF Friedrichshafen AG (Germany) ', 'Aptiv PLC (Ireland)'

Currently, all across the globe, consumers of car are considering comfort as the crucial factor of purchase. The automotive radar seen high end are used, such as adaptive trip control and parking add controls to make driving more comfortable for drivers, manufacturers are adding safety technology. Moreover, other advantages of automotive radar includes improving safety, reducing the risk of road accidents, aid in traffic management. Therefore, these advantages and increasing popularity will lead to the growth of automotive radar sensor market all across the globe. users now use

In the automotive radar system market, a number of system and chip manufacturing companies are involved. One of the major trends in this market include object identification along with high focus of safety with the inclusion of 360 degrees of vehicle surveillance car 2X which includes car to car and car to infrastructure communication and rear end crash avoidance.

Globally, the Asia Pacific region is estimated to hold the highest global Automotive Radar Sensors Market share. Main factors during this growth period are the presence of top market players, Increasing disposable income of the population across the region and Technological advancement in the automobile sector.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Global Automotive Radar Sensors Market

Report ID: SQMIG25A2050

$5,300
BUY NOW GET FREE SAMPLE