Automotive Radar Market Analysis by Latest Trends, Demand and Forecast to 2029

Automotive Radar Market is expected to grow at 12.6 % through 2023 to 2029, Automotive Radar Market is reaching nearly USD 11.87 Bn. by 2029.

Automotive Radar Market Report Scope and Research Methodology

Report Scope:

This detailed report offers a comprehensive analysis of the past, present, and future trends in the Automotive Radar Market. It delves into essential market data and factors influencing its growth. Decision-makers can gain critical insights into the industry's performance through this report, which also includes thorough analyses using the PORTER and PESTEL frameworks.

Research Methodology:

Our report is built upon a rigorous research methodology that includes in-depth interviews with industry leaders, CEOs, and executives to validate the segmentation based on vehicle type and radar range. A bottom-up approach is used to estimate market size, identifying top market players and computing their revenues through thorough primary and secondary research.

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What are Automotive Radar Market Dynamics?

Market Drivers:

The Automotive Radar Market is primarily propelled by the growing global concern over road safety and the increasing demand for safety features such as collision avoidance systems, parking assistance, and advanced driver assistance systems. These ADAS heavily rely on automotive radar for object detection, enabling vehicles to make real-time decisions to ensure passenger safety.

Furthermore, manufacturers are focusing on enhancing driving comfort, introducing technologies like adaptive cruise control and parking assistance systems in high-end vehicles. This evolution aims to offer more convenience to drivers while maintaining their ability to override the system at any time. Night vision systems and lateral vehicle control technologies are also in development stages, utilizing automotive radar for precise detection and control.

Market Restraints:

The challenges faced by LiDAR and camera-based sensors in adverse environmental conditions, such as darkness, pollution, snow, rain, and fog, have paved the way for radar technology. Radar has proven to be reliable and effective in harsh weather and lighting conditions. This makes radar an essential component of self-driving vehicles.

Automotive Radar Market Segmentation?

Radar Range Types: In 2022, the medium and short-range radar segments accounted for the largest market share and are expected to grow at the fastest rate. These radar systems are crucial for various vehicle safety systems, including blind spot detection, lane change assistance, and park assist. The growing acceptance of adaptive cruise control (ACC) in mid-priced vehicles is anticipated to drive the long-range radar segment's growth throughout the forecast period.

Vehicle Types: The passenger vehicle segment is poised to outpace the commercial vehicle market, driven by a heightened focus on vehicle safety among mid-priced vehicle owners. In 2022, global passenger car sales increased by 4.5%. As leading car manufacturers like Mercedes-Benz and BMW record significant sales, the market for automotive radar is set to grow substantially, with more passenger cars adopting radar-based safety systems.

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Who are Automotive Radar Market Key Players?

1.Continental AG
2.Robert Bosch GmbH
3.Delphi Automotive PLC
4.Denso Corporation
5.Infineon Technologies AG
6.NXP Semiconductors N.V.
7.Valeo S.A.
8.Analog Devices, Inc
9.Hella KGaA Hueck & Co.
10.Texas Instruments, Inc.
11.Autoliv, Inc.
12.ZF Friedrichshafen AG
13.Aptiv plc
14.Veoneer Inc.
15.Nidec Elesys Corporation
16.TungThih Electronic Co., Ltd

Table of content for the Automotive Radar Market includes:

Part 01: Executive Summary

Part 02: Scope of the Automotive Radar Market Report

Part 03: Global Automotive Radar Market Landscape

Part 04: Global Automotive Radar Market Sizing

Part 05: Global Automotive Radar Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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Regional Insights:

Europe Leads the Way: Europe dominates the global market and is expected to grow at a CAGR of 17.8% over the forecast period. Stricter automobile safety standards enforced by the European Commission and Germany's substantial presence in premium car production are contributing factors to this growth. Germany is projected to hold the largest share of the automotive radar market by 2025.

Asia Pacific Emerges Rapidly: The Asia Pacific region is poised for rapid growth due to its cost-effective automobile manufacturing and rising disposable income. The region has experienced a surge in automotive sales, with increased awareness of car safety systems. Latin America is also displaying growth potential due to support for the use of the 79 GHz band for vehicular short-range radar.

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