Press release
Advanced Driver Assistance Systems Fuel Growth in Parking Radar Industry
The Global Automotive Parking Radar Market is witnessing robust growth, driven by rising consumer demand for enhanced vehicle safety, convenience, and driver-assistance technologies. As per QY Research, the global Automotive Parking Radar market was valued at USD 6,837 million in 2024 and is projected to reach USD 10,910 million by 2031, registering a CAGR of 7.0% during the forecast period from 2025 to 2031. Automotive parking radars, also known as proximity sensors, play a crucial role in assisting drivers in avoiding obstacles during parking and low-speed maneuvers, thereby reducing the likelihood of accidents and improving overall vehicle safety.
→ Insights
One of the key insights driving market growth is the increasing integration of Advanced Driver Assistance Systems (ADAS) and the growing consumer preference for semi-autonomous and autonomous vehicles. Parking radars are becoming standard features even in mid-range vehicles, reflecting broader industry trends toward safety regulations and smarter mobility. Technological advancements such as ultrasonic sensors, LiDAR integration, AI-based object recognition, and 360-degree detection systems are reshaping the competitive landscape. Additionally, the growing popularity of electric and hybrid vehicles further boosts demand, as OEMs enhance sensor-based parking features to improve user experience.
→ Key Players
Major companies leading the automotive parking radar market include:
• Bosch
• Continental AG
• Denso Corporation
• Valeo
• Aptiv PLC
• ZF Friedrichshafen AG
• Hyundai Mobis.
These players are heavily investing in R&D to develop compact, high-accuracy sensors and integrate radar with other ADAS components. Strategic partnerships with automakers, innovation in solid-state radar technology, and cost-effective production methods are key focus areas among market leaders.
→ Market Segmentation
The market is segmented by technology (ultrasonic radar, electromagnetic radar, infrared radar), vehicle type (passenger vehicles, commercial vehicles), and sales channel (OEMs and aftermarket). Among these, ultrasonic radar systems hold the largest share due to their cost-effectiveness and reliable performance. The passenger vehicle segment remains dominant, while the OEM segment leads in sales channel distribution, as more manufacturers integrate parking radar as a factory-installed feature.
→ Regional Analysis
Europe dominates the global automotive parking radar market, supported by stringent vehicle safety regulations and high penetration of ADAS in passenger vehicles. North America follows closely due to strong automotive innovation, demand for premium vehicles, and consumer awareness. Asia-Pacific is the fastest-growing region, driven by rapid urbanization, rising vehicle sales, and increasing adoption of smart mobility solutions in countries like China, Japan, and South Korea. Meanwhile, Latin America and the Middle East & Africa are emerging markets with moderate growth potential, largely driven by the increasing demand for safer and technologically equipped vehicles.
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About Us:
QY Research established in 2007, focus on custom research, management consulting, IPO consulting, industry chain research, data base and seminar services. The company owned a large basic data base (such as National Bureau of statistics database, Customs import and export database, Industry Association Database etc), expert's resources (included energy automotive chemical medical ICT consumer goods etc.
Contact Us:
QY Research, INC.
17890 Castleton, Suite 369,
Los Angeles, CA - 91748
USA: +1 626 539 9760
India: +91 8669986909
Emails - enquiry@qyresearch.com / ruchika@qyresearch.com
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