Automotive Radar Market: Industry Analysis and Forecast (2024-2030)

Automotive Radar Market Overviews

The Automotive Radar market is expected to grow significantly during the forecast period. The Automotive Radar market is segmented into range, application and region. Further on the basis of range the Automotive Radar market is sub-segmented into short range, medium range and long-range types. Moreover, on the basis of application the market is segmented into Autonomous Emergency Braking (AEB), Intelligent Parking Assistance, Forward Collision Warning System (FCWS), Adaptive Cruise Control (ACC), Blind Spot Detection (BSD). Geographically the market is further segmented into North America, Europe, Asia-Pacific and other regions.

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Automotive Radar Market Scope and Methodology:

The automotive radar market has shown consistent growth over the years owing to the rise of automotive market itself on global scale. The market is expected to reach US$ 4.1 Bn. in 2029 from US$ 2.3 Bn. in 2023 at CAGR of 8.35 % during the forecast period. There is increased focus on passenger safety both by manufacturers and consumers alike due to increased cases of accidents across the globe. The impact of rising cases of accidents is so huge that even governments have started enforcing stringent safety norms in order to safeguard passengers and improve the overall driving condition. Modern vehicles utilize plethora of Radio Frequency devices in order to make driving a safer experience. These days some of the premium vehicles also have the additional feature of pilot mode and driver assistance modules wherein a central computing system takes care or assists the driver in driving the vehicle by utilising sensors, radars and actuators. The demand for such features drives the automotive radar market upwards. Automotive radars provide accurate data of various parameters like object detection, motion prediction, and object tracking that enables effective high quality automated driving experience.

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Automotive Radar Market Regional Insights

The Automotive Radar Market is regionally segmented into North America, Europe, Asia-Pacific and other regions that constitutes rest of the world. Asia-Pacific regions is projected to grow with the highest CAGR during the forecast period. This level of growth in Asia-Pacific market is due to increasing adoption of radar-based safety features and increase in vehicle production in the constituent countries. Europe region is also projected to experience significant growth rate owing to early adoption of driver assistance technology. Moreover, Euro NCAP safety standards have become more stringent over the last couple of years which have led to installation of AEB type car to car systems on cars across the European region. North America is also estimated to witness significant growth in the automotive radar market due to high demand of hybrid vehicles in the region. Additionally, the vehicle safety regulation norms have been made more stringent by local authorities boosting the sales of automotive radars in the North American region. South America, Middle East and Africa region which constitute the other regions are also projected to experience good growth for automotive radars owing to stringent local road and vehicle safety norms and a strong shift towards autonomous and semi-autonomous vehicles in the region.

Automotive Radar Market Segmentation

The automotive radar market is segmented on the basis of range and application. On the basis of range, the market is further sub-segmented into short range, medium range and long-range type. The medium range segment is projected to hold majority of market share during the forecast period. This is mainly due to the type of features that are generally offered by vehicle manufacturers like park assist, lane change assist, cross traffic alert etc. These features are now available for lower cost and the functionality of such systems is greatly enhanced by using more than 2 radars which have contributed heavily to the market dominance of the medium range segment. Long range radars are used for features like Adaptive Cruise Control (ACC) which is generally offered in premium vehicles and hence hold the second largest market share second to medium range type radars.

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Automotive Radar Market Key Players

Analog Devices Inc (USA)
Borgwarner Inc (USA)
Continental AG (Germany)
Denso Corporation (Japan)
NXP Semiconductors (Netherlands)
Robert Bosch GMBH (Germany)
Texas Instruments Incorporated (USA)
Valeo (France)

Key questions answered in the Automotive Radar Market are:

What is Automotive Radar?
What was the Automotive Radar market size in 2023?
What is the growth rate of the Automotive Radar Market?
Which are the factors expected to drive the Automotive Radar market growth?
What are the different segments of the Automotive Radar Market?
What growth strategies are the players considering to increase their presence in Automotive Radar?
What are the upcoming industry applications and trends for the Automotive Radar Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Automotive Radar Market?
Who are the leading companies and what are their portfolios in Automotive Radar Market?
What segments are covered in the Automotive Radar Market?
Who are the key players in the Automotive Radar market?
Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2022)
Past Pricing and price curve by region (2018 to 2022)
Market Size, Share, Size & Forecast by Different Segment | 2024-2030
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation - A detailed analysis by segment with their sub-segments and Region
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of Business by Region
Lucrative business opportunities with SWOT analysis
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