The global automotive radar market is projected to grow from USD 6.6 Billion in 2024 to USD 33.6 Billion by 2030, registering a CAGR of 31.1%. The automotive sector is experiencing a notable shift from focusing solely on vehicle performance and efficiency to prioritizing safety and convenience. With growing consumer awareness and increasing government mandates regarding active safety measures, there is a rising demand for driver-assisting applications like lane departure warning, lane keep assist, rear park assist, and blind-spot detection. These enhanced features can detect driver drowsiness and alertness, reducing road accidents and mishaps. As automotive radar systems evolve and integrate with AI-driven technologies, they are poised to play a pivotal role in shaping the future of vehicle safety and driving experiences.
These frequencies are part of the mmWave spectrum, providing radar systems with finer detail and improved accuracy compared to lower-frequency bands like the 24 GHz band. Moreover, manufacturers are launching new radar systems. For instance, in January 2024, Texas Instruments (US) launched new radar sensor chips designed to create smarter and safer vehicles. The AWR2544 77GHz mmWave, radar sensor chip, enhances autonomy by improving sensor fusion and decision-making in ADAS. Such development will accelerate the market growth in the forecast period.
Several European and US automobile manufacturers, such as Volkswagen AG (Germany), Mercedes Benz (Germany), and General Motors (US), have shifted their production plants to emerging economies in Asia Pacific. Major automotive radar providers such as Robert Bosch GmbH, Continental AG, Aptiv (Ireland), and Denso Corporation (Japan) have production facilities across the region. In March 2023, Aptiv Investment Co., Ltd. announced opening of a connection system engineering center in Wuhan, China. Such development will drive the Asia Pacific market during the forecast period.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.
By frequency, 7X-GHz will grow at the highest CAGR during the forecast period.
By frequency, the 7X-GHz segment is expected to grow at highest CAGR during the forecast period. The 7X-GHz frequency band, comprising 77 GHz and 79 GHz frequencies in automotive radar, represents a significant advancement in radar technology, offering high-resolution, long-range sensing capabilities essential for modern driver assistance systems and autonomous driving features.These frequencies are part of the mmWave spectrum, providing radar systems with finer detail and improved accuracy compared to lower-frequency bands like the 24 GHz band. Moreover, manufacturers are launching new radar systems. For instance, in January 2024, Texas Instruments (US) launched new radar sensor chips designed to create smarter and safer vehicles. The AWR2544 77GHz mmWave, radar sensor chip, enhances autonomy by improving sensor fusion and decision-making in ADAS. Such development will accelerate the market growth in the forecast period.
Medium-range radar hold the prominent share in the range segment.
Medium-range automotive radar (MRR) systems are essential to modern vehicle safety and driver assistance technologies. MRR systems offer good resolution and accuracy and can detect and track multiple objects simultaneously. This capability is crucial for making informed decisions in complex driving scenarios, such as navigating through intersections or overtaking other vehicles on the highway. Their balanced detection range and versatility make them indispensable for a wide range of ADAS features, significantly improving vehicle safety, efficiency, and driver comfort. As automotive technology continues to advance, the adoption and integration of medium-range radar systems are expected to grow, further enhancing the capabilities of modern vehicles.Asia Pacific to be the largest growing market for automotive radar during the forecast period.
The Asia Pacific market is estimated to be the largest growing market during the forecast period. The market growth in Asia Pacific can be attributed to the high vehicle production and use of advanced electronics in Japan, South Korea, and China. These countries' governments have recognized the automotive sector's growth potential and consequently undertaken various initiatives to encourage major OEMs to enter their domestic markets.Several European and US automobile manufacturers, such as Volkswagen AG (Germany), Mercedes Benz (Germany), and General Motors (US), have shifted their production plants to emerging economies in Asia Pacific. Major automotive radar providers such as Robert Bosch GmbH, Continental AG, Aptiv (Ireland), and Denso Corporation (Japan) have production facilities across the region. In March 2023, Aptiv Investment Co., Ltd. announced opening of a connection system engineering center in Wuhan, China. Such development will drive the Asia Pacific market during the forecast period.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.
- By Respondent Type: OEMs - 34%, Tier 1 - 41%, and Others - 25%
- By Designation: CXO’s - 35%, Managers - 49%, and Executives- 16
- By Region: North America - 24%, Europe - 37%, Asia Pacific - 32%, and Rest of the World - 7%
Research Coverage:
The Market Study Covers the Automotive Radar Market By Range (Short-range Radar, Medium-range Radar, Long-range Radar), By Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle), By Frequency (2X-GHz and 7X-GHz), By Propulsion (ICE and Electric), By Application [Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Blind Spot Detection (BSD), Forward Collision Warning System (FCWS), Intelligent Parking Assistance (IPA), Cross Traffic Alert (CTA), Lane Departure Warning System (LDW) And Traffic Jam Assist (TJA)] and By Region (North America, Europe, Asia Pacific, and the Rest of the World). It also covers the competitive landscape and company profiles of the major automotive radar market ecosystem players.Key Benefits of the Report
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.he report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall automotive radar market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.The report provides insights on the following pointers:
- Analysis of key drivers (Increasing consumer demand for ADAS, Doppler frequency shift, Advancements in radar technology), restraints (Inability to distinguish multiple targets, Different climate conditions), opportunities (Growing push for autonomous vehicles, Potential for innovative business models, 4D imaging radar, Signal interference), and challenges (Competition from alternate technologies, Fluctuating raw material prices and supply chain disruptions) influencing the growth of the automotive radar market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the automotive radar market
- Market Development: Comprehensive information about lucrative markets - the report analyses the automotive radar market across varied regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the automotive radar market
- Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Robert Bosch GmbH (Germany), Continental AG (Germany), Aptiv (Ireland), Denso Corporation (Japan), NXP Semiconductors (Netherlands), and among others in the automotive radar market Page 25 of 34 strategies. The report also helps stakeholders understand the pulse of the ADAS market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Table of Contents
1 Introduction
2 Research Methodology
4 Premium Insights
5 Market Overview
6 Automotive Radar Market, by Application
7 Automotive Radar Market, by Frequency
8 Automotive Radar Market, by Propulsion
9 Automotive Radar Market, by Range
10 Automotive Radar Market, by Vehicle Type
11 Automotive Radar Market, by Region
12 Competitive Landscape
13 Company Profiles
14 Analyst's Recommendations
15 Appendix
List of Tables
List of Figures
Companies Mentioned
- Robert Bosch GmbH
- Continental AG
- Aptiv
- Denso Corporation
- Nxp Semiconductors
- Infineon Technologies AG
- Valeo
- Zf Friedrichshafen AG
- Texas Instruments Incorporated
- Veoneer
- Magna International Inc.
- Renesas Electronics Corporation
- Hl Klemove
- Ambarella International Lp
- Hitachi Astemo, Ltd.
- Kyocera Corporation
- Samsung Electro-Mechanics
- Hyundai Mobis
- Stonkam Co. Ltd.
- Brigade Electronics Group PLC
- Lg Electronics
- Vayyar Automotive
- Stmicroelectronics
- Novelic
- Huawei Technologies Co. Ltd.
- Hella GmbH & Co. KGaA
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 278 |
Published | July 2024 |
Forecast Period | 2024 - 2030 |
Estimated Market Value ( USD | $ 6.6 Billion |
Forecasted Market Value ( USD | $ 33.6 Billion |
Compound Annual Growth Rate | 31.1% |
Regions Covered | Global |
No. of Companies Mentioned | 26 |