Press release
Automotive 4D Imaging Radar Market: Unveiling Market Share, Growth Drivers, and Technological Innovations
Automotive 4D Imaging Radar Market
Automotive 4D Imaging Radar Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $1.38 Bn In 2028 At A CAGR Of 84% :
The automotive 4D imaging radar market size has grown exponentially in recent years. It will grow from $0.06 billion in 2023 to $0.12 billion in 2024 at a compound annual growth rate (CAGR) of 93.7%. The growth in the historic period can be attributed to increasing focus on data privacy and security in radar systems, growing demand for radar-based gesture recognition systems, growing demand for radar-based gesture recognition systems, growing use of radar sensors in unmanned aerial vehicles (UAVS),adoption of automotive radar for vehicle-to-everything (v2x) communication.
The automotive 4D imaging radar market size is expected to see exponential growth in the next few years. It will grow to $1.38 billion in 2028 at a compound annual growth rate (CAGR) of 84.0%. The growth in the forecast period can be attributed to increasing demand from consumers for enhanced safety features in vehicles, increasing emphasis on vehicle automation, increasing demand for advanced driver assistance systems, growing demand for autonomous vehicles, expansion of 5G infrastructure for enhanced connectivity. Major trends in the forecast period include technological advancements in radar technology, expansion of electric and hybrid vehicle market, collaboration between automotive OEMS and radar technology providers, expansion of radar technology for military and defense applications.
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Automotive 4D Imaging Radar Market Major Segments
The automotive 4D imaging radar market covered in this report is segmented -
1) By Type: Multiple-Input Multiple-Output (MIMO) Chip Cascade, Radar Chipset
2) By Level of Automation: Advanced Driver Assistance Systems (ADAS), Autonomous Vehicles (AV)
3) By Range: Short-range Radar, Medium And Long Range Radar
4) By Frequency: 24 GHz To 24.25 GHz, 21 GHz To 26 GHz, 76 GHz To 77 GHz, 77 GHz To 81 GHz
5) By Application: Collision Avoidance And Autonomous Emergency Braking, Adaptive Cruise Control (ACC), Blind Spot Detection And Lane Change Assistance
Key Driver - Automotive 4D Imaging Radar In The Era Of Advanced Driver Assistance Systems (ADAS)
The increasing demand for advanced driver assistance systems (ADAS) is expected to propel the growth of the automotive 4D imaging radar market going forward. Advanced driver assistance systems are electronic systems that aid drivers in driving and parking functions by using sensors, cameras, and artificial intelligence and enhance vehicle safety and driving efficiency. 4D imaging radar can detect objects in multiple dimensions, providing a more comprehensive view of the environment. It helps ADAS identify and track vehicles, pedestrians, and obstacles. For instance, according to the National Highway Traffic Safety Administration (NHTSA), a US-based government agency, the adoption of vehicles equipped with ADAS systems has been consistently rising, with approximately 80% of new vehicles sold in the United States in 2021 incorporating some level of ADAS technology. Therefore, the increasing demand for advanced driver assistance systems (ADAS) is driving the growth of the automotive 4D imaging radar market.
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Prominent Trend - Advancements In Automotive 4D Imaging Radar Technology
Major companies operating in the automotive 4D imaging radar market are developing innovative products with advanced technologies, such as high-performance automotive 4D imaging radar, to provide more detailed information compared to earlier radar versions. High-performance-automotive-4d-imaging-radar refers to advanced radar technology that incorporates a fourth dimension, elevation, in addition to the traditional three dimensions of azimuth (horizontal angle), distance, and velocity. For instance, in February 2021, RadSee, an Israel-based radar system provider, launched a high-performance automotive 4D imaging radar offering unprecedented performance, low cost, and flexibility for integrating existing systems. 4D imaging radar captures data regarding an object's position in the range, azimuth, elevation, and relative speed. The technology behind High-Performance-Automotic-4D-Imaging-Radar focuses on adding a dimension of elevation to traditional 3D radar systems, allowing for more detailed object identification and situational awareness.
Automotive 4D Imaging Radar Market Players
Major companies operating in the automotive 4D imaging radar market are Panasonic Corporation, Denso Corporation, Magna International Inc., ZF Friedrichshafen AG, Continental AG, Valeo S.A., Aptiv PLC, Analog Devices Inc., Autoliv Inc., Velodyne Lidar Inc., Hella GmbH & Co. KGaA, Robert Bosch GmbH, Veoneer Inc., Topcon Positioning Systems Inc., First Sensor AG, Blackmore Sensors and Analytics Inc., Ibeo Automotive Systems GmbH, LeddarTech Inc., Ouster Inc., Innovusion Inc., Luminar Technologies Inc., Quanergy Systems Inc., Innoviz Technologies Ltd., Cepton Technologies Inc., AdaSky Technologies Ltd., FLIR Systems Inc., Xenomatix NV, AEye Inc.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the automotive 4D imaging radar market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive 4D imaging radar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive 4D Imaging Radar Market Report Structure
3. Automotive 4D Imaging Radar Market Trends And Strategies
4. Automotive 4D Imaging Radar Market - Macro Economic Scenario
5. Automotive 4D Imaging Radar Market Size And Growth
…..
27. Automotive 4D Imaging Radar Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The key players covered in this study…
