Report Highlights
The Global Automotive Radar Market Expected to Reach $49.70 Billion by 2034
Introduction to the Automotive Radar Market
The automotive radar market has been undergoing significant growth, driven by various key factors and market drivers. In an optimistic scenario, the market would be valued at $7.00 billion in 2024 and is projected to expand at a CAGR of 21.65% to reach $49.70 billion by 2034.
A primary driver for the growth of the automotive radar market has been the increasing demand for advanced driver assistance systems (ADAS) and autonomous driving technologies. Automotive radar systems play a crucial role in enhancing vehicle safety by providing precise object detection, lane-keeping assistance, and collision avoidance. As consumers and manufacturers prioritize vehicle safety, the demand for automotive radar systems continues to rise.
The market has been witnessing heightened demand due to stringent government regulations mandating the inclusion of advanced safety features in vehicles. These regulations are aimed at reducing road accidents and enhancing passenger safety, thereby driving the adoption of radar systems. Additionally, advancements in radar technology, such as higher resolution and improved range, are enhancing the performance and reliability of these systems, making them more attractive to automakers.
Another driving factor in the automotive radar market has been the rapid development of autonomous vehicles. Radar systems are integral to the functionality of autonomous driving, providing the necessary data for navigation and obstacle detection. The growing investment in autonomous vehicle technology by major automotive companies has been propelling the demand for advanced radar systems.
Furthermore, the electric scooter market has been witnessing robust growth, driven by the increasing demand for sustainable urban transportation solutions and supported by technological advancements and innovations in electric vehicle manufacturing. Innovations in battery technology, smart features, and enhanced performance are making electric scooters more attractive to consumers, further fueling market expansion.
Overall, the automotive radar market has been witnessing robust growth, driven by the increasing demand for advanced vehicle safety features and supported by technological advancements and innovations in radar technology. Innovations in radar resolution, range, and integration with other vehicle systems are making automotive radar systems more attractive to automakers, further fueling market expansion.
Market Segmentation:
Segmentation 1: by Application
- Adaptive Cruise Control (ACC)
- Autonomous Emergency Braking (AEB)
- Blind Spot Detection (BSD)
- Forward Collision Warning System (FCWS)
- Intelligent Parking Assistance (IPA)
- Cross Traffic Alert (CTA)
- Lane Departure Warning (LDW) System
- Traffic Jam Assist (TJA)
- Others
Segmentation 2: by Range
- Short-Range Radar
- Medium-Range Radar
- Long-Range Radar
Segmentation 3: by Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Segmentation 4: by Frequency
- 2X-GHz
- 7X-GHz
Segmentation 5: by Propulsion
- ICE Vehicles
- Electric Vehicles
Segmentation 6: by Region
- North America
- Europe
- Asia-Pacific
- Rest-of-the-World
How can this report add value to an organization?
Product/Innovation Strategy: The global automotive radar market has been extensively segmented based on various categories, such as application, range, vehicle type, frequency, and propulsion. This can help readers get a clear overview of which segments account for the largest share and which ones are well-positioned to grow in the coming years.
Competitive Strategy: A detailed competitive benchmarking of the players operating in the global automotive radar market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Report Synopsis
| Report Metrics | Details |
| Base year considered | 2024 |
| Forecast period considered | 2024-2034 |
| Base year market size | $7.00 Billion in 2024 |
| Market size forecast | $49.70 Billion by 2034 |
| Growth rate | 21.65% |
| Units considered | $ Billion |
| Segments covered | By Application, By Range, By Vehicle Type, By Frequency, By Propulsion, By Region |
| Industry covered | Electronics & Semiconductor Technology |
| Regions covered | North America, Europe, Asia-Pacific, South America, Middle East and Africa |
| Countries covered | U.S., Canada, Mexico, France, Germany, U.K., Italy, Rest-of Europe, China, Japan, India, South Korea, Rest-of-Asia-Pacific, Rest-of-the-World |
| Companies studied |
|
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on thorough secondary research, which includes analyzing company coverage, product portfolio, market penetration, and insights gathered from primary experts.
Some of the prominent companies in this market are:
- Robert Bosch GmbH
- Continental AG
- Aptiv
- DENSO CORPORATION
- NXP Semiconductors
- Autoliv
- HELLA GmbH & Co. KGaA
- VALEO
- Renesas Electronics Corporation
- ZF Friedrichshafen AG
Key Questions Answered in this Report:
- What are the main factors driving the demand for the automotive radar market?
- What are the major patents filed by the companies active in the automotive radar market?
- Who are the key players in the automotive radar market, and what are their respective market shares?
- What partnerships or collaborations are prominent among stakeholders in the automotive radar market?
- What are the strategies adopted by the key companies to gain a competitive edge in the automotive radar market?
- What is the futuristic outlook for the automotive radar market in terms of growth potential?
- What is the current estimation of the automotive radar market, and what growth trajectory is projected from 2024 to 2034?
- Which application and product segment is expected to lead the market over the forecast period (2024-2034)?
- Which regions demonstrate the highest adoption rates for the automotive radar market, and what factors contribute to their leadership?
BIS Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
Become A Member
BCC Research offers a comprehensive library of reports, granting members unlimited access to data, insights, and market intelligence for informed business decisions, while actively supporting members in their evolving journeys and prioritizing high-quality, relevant topics based on continuous engagement with the research community.
Find Out MoreCustom Consulting
BCC Research emphasizes the importance of organizations leveraging highly customized market insights aligned with specific strategic business objectives through direct engagement with primary sources and proprietary forecasting models for profitable decision-making in maximizing growth opportunities and minimizing risks.
Customize NowScorecard
The Venture Scorecard provides commercialization offices and decision makers with expert analysis, offering strategic insights crucial for aligning objectives with market realities at various stages of commercializing new products or evaluating investment opportunities, from opportunity assessment to growth planning.
Find Out MoreInnovation Spotlight
Our industry experts offer strategic guidance to maximize the market potential of commercialized products, patents, and IP by providing insights into market trends, competitive dynamics, and effective positioning, using the Innovation Spotlight service for enhanced exposure to thought leaders and the wider community.
Find Out More