Press release
Automotive Radar Market Forecast 2025-2034: Comprehensive Analysis And Growth Opportunities
Automotive Radar Market
What Is the Projected Growth of the Automotive Radar Market?
The dimension of the automotive radar market has experienced swift expansion in the recent past. The market is projected to escalate from a value of $6.93 billion in 2024 to $8.13 billion in 2025, with a compound annual growth rate (CAGR) of 17.4%. The historical growth period has witnessed a surge due to an amplified attention on vehicle safety and collision evasion, implementation of advanced driver assistance systems (ADAS) in vehicles, increase in the necessity for adaptive cruise control and autonomous features, rigid safety regulations and a swelling demand for sophisticated safety features.
The market size for automotive radar is anticipated to experience swift expansion in the coming years, expected to be valued at $15.26 billion in 2029 with a compound annual growth rate (CAGR) of 17.1%. The acceleration during the projected period can be ascribed to an escalated demand for radar sensors in autonomous and electric vehicles, the amalgamation of 5G technology to allow swift and dependable communication, the magnifying application of radar in pedestrian detection and urban driving, the rise in interconnected car ecosystems, and the broadening of the commercial vehicle market with radar-centric safety systems. Key trends within the forecast period involve technological progress in radar sensors to boost precision, crafting of radar sensors with superior resolution and range, the merger of radar with varied sensor technologies for thorough sensing, focus on cybersecurity protocols for guaranteed radar communication, and partnerships amongst car manufacturers and tech providers.
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What Are the Different Automotive Radar Market Segments?
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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What Are the Primary Drivers Shaping the Automotive Radar Market?
The escalating incidence of vehicular mishaps is anticipated to fuel the expansion of the automotive radar market. Road accidents, typically caused by traffic collisions, negligence, or other factors, resulting in injury or death of the individuals involved. Automotive radar acts as a crucial sensor system for collision evasion and detection of pedestrians and cyclists, thereby working in tandem with vision-based cameras to locate cars and decrease accidents. For instance, The National Highway Traffic Safety Administration, a U.S. government agency, recorded 3,308 fatalities and around 289,310 injuries due to distracted driving in the U.S. in 2022, as per their April 2024 data. Besides, 621 susceptible road users, encompassing pedestrians and cyclists, were fatally involved in accidents primarily caused by distracted drivers. Thus, the surge in road mishaps is driving the growth of the automotive radar market.
Which Companies Are Leading in the Automotive Radar Market?
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.
What Are the Major Trends Shaping the Automotive Radar Market?
The surge in technological innovation is an evolving trend in the automotive radar market. Prime companies are unveiling new technologies to expand their market footprint. For instance, Under, an American producer of automotive radar-on-chip for automated systems, launched in March 2022 the market's first 4G digital imaging radar-on-chip. This innovation offers digital radar solutions along with improved accuracy for detecting stationary and moving objects over both short and long distances. Advanced driver assistance systems delivered by this upgrade ensure accuracy regardless of weather and light conditions and simultaneously reduce interference with other systems.
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What Are the Top Revenue-Generating Geographies in 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
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive Radar Market?
2. What is the CAGR expected in the Automotive Radar Market?
3. What Are the Key Innovations Transforming the Automotive Radar Industry?
4. Which Region Is Leading the Automotive Radar Market?
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The key players covered in this study…
