Press release
Key Trends Shaping the Future Automotive Radar Market From 2025-2034: Technological Innovations Drive Advancements In The Automotive Radar Market
Automotive Radar Market
Expectations for the automotive radar market's expansion are influenced by the increasing number of road accidents. Road accidents, which are incidents that result in the injury or death of anyone involved due to traffic crashes, negligence or other factors, can be mitigated by automotive radar. It serves as one of many sensor systems for avoiding collisions, and detecting pedestrians and cyclists. This system works hand in hand with vision-based cameras in identifying vehicles, ultimately helping lower accident rates. For example, back in April 2024, the National Highway Traffic Safety Administration, a governmental agency from the U.S, reported that distracted driving led to 3,308 deaths and around 289,310 injuries across the U.S in 2022. Also, 621 pedestrians and cyclists, who are considered vulnerable road users, sadly lost their lives in accidents caused by distracted drivers. Hence, the automotive radar market is given a boost by the surge in road accidents.
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What Is the projected market size and growth rate for the automotive radar market?
The scale of the automotive radar market has seen swift expansion in the past few years. Growth is expected from $6.93 billion in 2024, to $8.13 billion in 2025, showcasing a compound annual growth rate (CAGR) of 17.4%. Factors leading to this surge during the historical period include an enhanced emphasis on vehicular safety and collision avoidance, integration of advanced driver assistance systems (ADAS) in vehicles, increasing requirement for adaptive cruise control and autonomous characteristics, strict safety rules, and a burgeoning demand for cutting-edge safety features.
In the coming years, the size of the automotive radar market is anticipated to experience a swift surge, with growth revised to reach $15.26 billion by 2029 at a 17.1% Compound Annual Growth Rate (CAGR). The upswing during the forecast period can be credited to a swell in requisites for radar sensors in electric and self-driving vehicles, incorporation of 5G technology for more rapid and trustworthy communication, an enhanced adoption of radar for detecting pedestrians and urban driving, an upsurge in the connected car environment, and the burgeoning of commercial vehicle market via radar-oriented safety systems. Noteworthy trends during the predicted period comprise advancements in radar sensor tech for superior precision, the evolution of radar sensors that offer enhanced resolution and improved scope, amalgamation of radar with other sensor technologies for inclusive detection, focus on cybersecurity initiatives for protected radar communication, and collaborations between vehicle manufacturers and tech providers.
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What new trends are reshaping the automotive radar market and its opportunities?
Technological advancements are driving trends in the automotive radar market, as leading firms introduce disruptive technologies to expand their market presence. For example, Under, a US company producing digital automotive radar-on-chip for automated systems, unveiled the sector's first 4G digital imaging radar-on-chip in March 2022. This technology offers superior radar solutions by improving accuracy and enhancing detection of stationary or moving objects over both short and long distances. The sophisticated driver support systems guarantee accurate readings regardless of weather or lighting conditions and reduce interference with other detectors.
What major market segments define the scope and growth of the automotive radar market?
The automotive radar market covered in this report is segmented -
1) By Vehicle Type: Passenger Car, Commercial Vehicle
2) By Range: Long-Range Radar (LRR), Short And Medium-Range Radar (SMRR)
3) By Frequency: 24 Ghz, 77 Ghz, 79 Ghz
4) By Application: Adaptive Cruise Control (Acc), Autonomous Emergency Braking (Aeb), Blind Spot Detection (Bsd), Forward Collision Warning System, Intelligent Park Assists, Other Applications
Subsegments:
1) By Passenger Car: Compact Cars, Sedans, SUVs, Coupes, Luxury Cars
2) By Commercial Vehicle: Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs), Buses, Trucks
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Which region dominates the automotive radar market?
Asia-Pacific was region with the largest share in the automotive radar market in 2024. The regions covered in the automotive radar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Which key market leaders are driving the automotive radar industry growth?
Major companies operating in the automotive radar market include Analog Devices Inc., Autoliv Inc., Continental AG, DENSO Corporation, NXP Semiconductors, BorgWarner Inc., Robert Bosch GmbH, Texas Instruments, Valeo SA, Infineon Technologies AG, ZF Friedrichshafen AG, HELLA GmbH & Co. KGaA, TE Connectivity Ltd., Aptiv plc, Onsemi, Veoneer Inc., Innoviz Technologies Ltd., Delphi Technologies, Navtech Radar Ltd., Renesas Electronics Corporation, Texas Instruments Incorporated, HELLA Aglaia Mobile Vision GmbH, LeddarTech Inc., Quanergy Systems Inc., Novariant Inc., Wuhu Concete Technology Co Ltd., Magna International Inc., Ainstein, Ficosa International SA, Vayyar Imaging Ltd.
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What Is Covered In The Automotive Radar Global Market Report?
•Market Size Forecast: Examine the automotive radar market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the automotive radar market for a structured understanding.
•Key Players Overview: Analyze major players in the automotive radar market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive radar market.
•Segment Contributions: Evaluate how different segments drive overall growth in the automotive radar market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive radar market.
•Industry Challenges: Identify potential risks and obstacles affecting the automotive radar market.
•Competitive Landscape: Review strategic developments in the automotive radar market, including expansions, agreements, and new product launches.
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The key players covered in this study…
