Press release
Evolving Market Trends In The Automotive 4D Imaging Radar Industry: Advancements In 4D Imaging Radar Technology For Enhanced Automotive Applications
Automotive 4D Imaging Radar
What Is the Expected Automotive 4D Imaging Radar Market Size During the Forecast Period?
The market size for the automotive 4D imaging radar has expanded significantly in the past few years. The market is projected to rise from a valuation of $0.12 billion in 2024 to $0.23 billion in 2025, registering a 93.8% compound annual growth rate (CAGR). The historical growth can be linked to rising emphasis on data protection and security in radar systems, an increased demand for radar-based gesture detection systems, expanding the use of radar sensors in unmanned aerial vehicles (UAVs), and the adoption of automotive radar for vehicle-to-everything (v2x) communication.
It is anticipated that the market size of the automotive 4d imaging radar will experience substantial growth in the upcoming years, and it is projected to reach $2.47 billion in 2029 at a compound annual growth rate (CAGR) of 80.2%. This projected growth during the forecast period can be linked to factors such as growing consumer demand for improved safety features in vehicles, an intensified focus on vehicle automation, an increased need for advanced driver assistance systems, and a surging demand for autonomous vehicles, coupled with the expansion of 5G infrastructure to boost connectivity. The key trends anticipated to dominate the forecast period include technological progress in radar technology, growth of the electric and hybrid vehicle industry, collaborations between automotive original equipment manufacturers (OEMs) and radar technology providers, and the adaptation of radar technology in military and defense domains.
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What Are the High-Growth Segments in the Automotive 4D Imaging Radar Market?
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
Subsegments:
1) By Multiple-Input Multiple-Output (MIMO) Chip Cascade: MIMO Radar Systems, Integrated MIMO Chip Solutions
2) By Radar Chipset: Monolithic Integrated Circuit (IC) Chipsets, Discrete Component Chipsets
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What Key Drivers Are Expected to Influence Future Automotive 4D Imaging Radar Market Growth?
The automotive 4D imaging radar market is poised for growth due to the rising demand for advanced driver assistance systems (ADAS). These systems, constituted of sensors, cameras, and artificial intelligence, lend a helping hand to drivers in navigating and parking, whilst also improving vehicle safety and driving efficiency. By detecting objects in multiple dimensions, 4D imaging radar offers a more in-depth perception of the surroundings which aids ADAS in identifying and tracing vehicles, pedestrians, and obstacles. To illustrate this, data from the MITRE Corporation, a Not-for-profit organization based in the US, showed that by the 2023 model year, out of 14 ADAS features, 10 had attained over 50% market saturation, and five had exceeded 90%. This is a significant increase as no ADAS feature had previously reached 75% penetration. Consequently, the escalating demand for ADAS is fuelling the expansion of the automotive 4D imaging radar market.
Which Companies Hold the Largest Share Across Different Automotive 4D Imaging Radar Market Segments?
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.
What Are the Latest Developing Trends in the Automotive 4D Imaging Radar Market?
Significant players in the automotive 4D imaging radar market, such as SAIC, are strategizing their business processes around the creation of technologically superior solutions. This includes high-resolution imaging radars that warrant the meeting of several crucial industry needs. The high-resolution imaging radar by SAIC caters to an array of necessities such as military surveillance, autonomous vehicles, disaster management, and infrastructure and environmental supervision. For instance, taking a leap in December 2022 was ZF Friedrichshafen AG, an affluent technology company from Germany. The corporation teamed up with SAIC Motor Corporation to introduce its futuristic 4D Imaging Radar for SAIC's R-Series electric vehicles. The radar system is augmented with 192 channels, providing a resolution that is 16 times superior to the standard automotive radars. It can precisely discern vehicular surrounding in four dimensions - range, speed, horizontal angle, and height. The 4D Imaging Radar is designed meticulously to escalate security and boost semi-automated to full-scale automated driving functionalities. This amplified capacity to tackle intricate driving conditions showcases a stride in ZF's pledge towards progressing sensing technologies in the automotive sector, thereby propelling the company to a leading position in the automated driving radar market.
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What Are the Emerging Geographies for The Automotive 4D Imaging Radar Market Growth?
North America was the largest region in the automotive 4D imaging radar market in 2024. 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive 4D Imaging Radar Market?
2. What is the CAGR expected in the Automotive 4D Imaging Radar Market?
3. What Are the Key Innovations Transforming the Automotive 4D Imaging Radar Industry?
4. Which Region Is Leading the Automotive 4D Imaging Radar Market?
Why This Report Matters:
Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.
Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.
Efficient Research: Quickly identify market growth, leading players, and major segments.
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