Automotive Radar Market Size, Share, Analysis, Trends, Growth, 2032

Automotive Radar Industry Prospective

Zion Market Research has published a report on the global Automotive Radar Market, estimating its value at USD 4.67 Billion in 2023, with projections indicating that it will reach USD 13.00 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 12.04% over the forecast period 2024-2032. The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Automotive Radar industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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The report offers an assessment and analysis of the Automotive Radar market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion).

Automotive Radar Market: Overview

Automotive radar is a sensor technology used in vehicles to detect objects, monitor the surrounding environment, and assist in driving tasks by using radio waves to determine the distance, speed, and direction of nearby objects. It plays a crucial role in advanced driver assistance systems (ADAS) and autonomous driving by enabling features such as adaptive cruise control, collision avoidance, blind-spot detection, and lane-keeping assistance. Automotive radar operates on different frequency bands, typically 24 GHz and 77 GHz, offering precise object detection even in poor weather conditions like rain or fog. The growing demand for vehicle safety and the development of autonomous driving technologies are driving the adoption of automotive radar systems across passenger and commercial vehicles.

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Automotive radars are utilized for detecting the velocity as well as the object range in the vicinity of the vehicle in which the radar is deployed. Furthermore, the automotive radar comprises a receiver and transmitter. The transmitter sends radio waves to the object and these waves bounce back to the receiver of the vehicle after hitting the object. This helps in assessing the acceleration, direction, and distance of the object from the vehicle.

Furthermore, automotive radar is an evolving technology facilitating autonomous & smart features in the automotive, thereby relieving drivers from performing repetitive tasks, lessening their levels of stress, and adding life-saving automated interpolations. Currently, the electronic product is installed in numerous high-end vehicles for enabling secure and comfortable features of the vehicle, thereby assisting the vehicle in decelerating without the involvement of the driver and thus preventing vehicle accidents on road. 

Automotive Radar Market: Report Scope

Automotive Radar Market: Growth Drivers

Automotive radars provide cost-efficient solutions and are utilized for blind-spot detection and collision avoidance, thereby creating lucrative opportunities for the automotive radar market in the near future. Apart from this, introduction of strict laws for vehicular safety and the rise in the embedding of ADAS systems in vehicles will proliferate the product demand in the coming years.

Furthermore, a surge in the number of vehicle collisions and escalating requirements for safe mobility of vehicles will prompt business expansion over the forthcoming years. Additionally, inception of new concepts such as electric & autonomous vehicles along with electrifying of automobiles will expatiate the market growth over the ensuing years.

Apparently, huge capital funding for the automotive sector in the countries like Germany, China, the UK, the U.S., Japan, and India will steer the market surge in the years ahead. Reduction in vehicle costs and breakthroughs in vehicular technology will promote the use of automotive radars globally.  This, in turn, will embellish the market surge over the forecast timeline.

Automotive Radar Market: Segmentation

The global automotive radar market is bifurcated on the basis of the range, application, frequency, vehicle type, and regional analysis.

Based on the application, the market is divided into ACC (adaptive cruise control), BSD (blind spot detection), AEB (autonomous emergency braking), intelligent park assist, forward collision warning system, and other ADAS applications.

Based on the frequency, the market is divided into 77 GHz, 24 GHz, and 79 GHz.

Based on the range, the market is divided into LRR (long range RADAR) and S&MRR (short & medium range RADAR).

Based on the vehicle type, the market is divided into passenger car and commercial vehicles.

Based on the geographical analysis, the global automotive radar market is divided into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. The European region is anticipated to be the most potential region owing to the incidence of giant original equipment manufacturers. Moreover, the EC’s (European Commission) 79 GHz plan to utilize short range radar equipment in European countries boosted the penetration of automotive radar systems across the European market. Following the region, the North American region is anticipated to be the next chief market.

Automotive Radar Market: Regional Insights

Europe To Contribute Lucratively Towards Overall Market Growth By 2032

The regional market expansion during the forecast timeline is owing to the acceptance of new technologies in the automotive sector across the countries like Germany, Belgium, the UK, and Holland in Europe. In addition to this, the state authorities in these countries have enacted & enforced strict laws for addressing vehicular safety issues as well as vehicle collisions. This, in turn, will spearhead the industry growth in the region over the forecasting years.

Automotive Radar Market: Competitive Space

Key players profiled in the report include

• DENSO Corp.
• Infineon Technologies AG
• Continental AG
• Autoliv Inc.
• Texas Instruments Inc.
• Valeo SA
• Robert Bosch GmbH
• HELLA KGaA Hueck & Co.

The global automotive radar market is segmented as follows:

By application:

• Blind Spot Detection (BSD)
• Forward Collision Warning System
• Adaptive Cruise Control (ACC)
• Autonomous Emergency Braking (AEB)
• Intelligent Park Assist
• Other ADAS Applications

By frequency:

• 24 GHz
• 77 GHz
• 79GHz

By range:

• Short & Medium Range RADAR (S&MRR)
• Long Range RADAR (LRR)

By vehicle type:

• Commercial Vehicles
• Passenger Car

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa