The Automotive RADAR market size is expected to reach US$ 15.7 billion by 2031 from US$ 5.7 billion in 2023. The market is expected to register a CAGR of 11.9% in 2023–2031. The rise in the adoption of automotive RADAR in advanced driver assistance systems to provide capabilities such as adaptive cruise control (ACS), lane change assistance, emergency braking, blind spot detection, and others are among the key factors fueling the Automotive RADAR market growth.
Automotive RADAR Market Analysis
The Automotive RADAR market is expected to experience considerable growth during the analyzed timeframe owing to rise in government regulations concerning vehicle safety, rising adoption of premium vehicles, growing number of radars used in a vehicle. Moreover, the increase in production and adoption of electric vehicles (EVs) are further expected to support the growth of the automotive radar market. It is anticipated that in the coming few years, autonomous driving will be a growing trend. To attain this, several vision technologies increased intending to deliver functionality and safety to the vehicle's drivers and passengers.
Automotive RADAR Market Overview
Radar systems are the most established and trusted technologies in the automotive industry's various vision technologies. Presently, several vehicle manufacturers are engaged in providing 'level 3' automation technology wherein drivers are on standby for a particular time. These vehicles are integrated with five radar systems, including SSR and LLR, for applications that include emergency braking or adaptive cruise control. In addition, the high demand for RADAR technology in the automotive industry, owing to the benefits associated with it, including all-weather performance, direct velocity measurement, non-line-of-sight detection, affordability, and others, is projected to drive the market during the forecast period.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Automotive RADAR Market: Strategic Insights
Market Size Value in US$ 5,019.01 Million in 2019 Market Size Value by US$ 11,640.77 Million by 2027 Growth rate CAGR of 14.9% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Automotive RADAR Market: Strategic Insights
Market Size Value in | US$ 5,019.01 Million in 2019 |
Market Size Value by | US$ 11,640.77 Million by 2027 |
Growth rate | CAGR of 14.9% from 2020-2027 |
Forecast Period | 2020-2027 |
Base Year | 2020 |
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to AnalystAutomotive RADAR Market Drivers and Opportunities
Increase in the number of Road Accidents.
Road traffic injuries are a key public concern faced by governments across the globe, and the increasing prevalence of the road accidents hinders the development of market in those countries. According to the data by the World Health Organization (WHO), nearly 1.19 million people die due to road accidents. Most of the accidents on the road are occur in developing and developed economies are due to human driving errors. While vehicle safety technology has improved significantly over the past few decades with the advent of advanced driver assistance systems (ADAS) and the prospect of autonomous vehicles, these numbers show that vehicle safety needs to improve at a much faster pace and suggest the need to adopt automated driving technologies can help dramatically reduce the number of fatalities by removing human driver error from the equation. Hence, the rise in the number of road accidents is expected to drive the demand for automotive RADAR systems, which in turn is anticipated to fuel the market growth in the coming years.
Rising Demand for Advanced Imaging Radar
With the mounting number of level 2+ vehicles on the road, the need for advanced and more accurate automotive radar sensors is increasing. This acts as a huge opportunity for OEMs to offer basic-level radar sensors. For instance, Xilinx and Continental announced the first production-ready 4D imaging radar. Theoretically, 4D imaging radar uses echolocation (a mechanism that is observed in dolphins, bats, and several humans) and the time-of-flight measurement principle to capture a space in 3D. Furthermore, these radar systems are designed to fulfill the imaging requirements within the time scale of a fast-moving automobile or a zooming drone. Therefore, the fourth dimension enhances the overall accuracy of a self-driving system. The 4D imaging radar is operational in all types of weather/environmental conditions, including fog, darkness, and heavy rains. Numerous companies are investing in R&D to introduce such advanced radar-based imaging technologies and gain a maximum share in the global automotive radar market.
Automotive RADAR Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Automotive RADAR market analysis are range, frequency, application, and vehicle type.
- Based on range, the Automotive RADAR market has been divided into Long Range Radar (LRR), Medium Range Radar(MRR), and Short Range Radar (SRR)). The short-range radar segment held a larger market share in 2023.
- Based on the frequency, the Automotive RADAR market has been divided into 24 GHz, 77 GHz, and 79 GHz. The 77 GHz segment held a larger market share in 2023.
- On the basis of application, the market has been segmented into adaptive cruise control (ACS), autonomous emergency braking, blind spot detection, forward collision warning system, intelligent park assist, and others. The adaptive cruise control segment dominated the market in 2023.
- Based on the vehicle type, the Automotive RADAR market has been divided into passenger cars, light commercial vehicles, and medium & heavy commercial vehicles. Thepassenger cars segment held a larger market share in 2023.
Automotive RADAR Market Share Analysis by Geography
The geographic scope of the Automotive RADAR market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East and Africa, and South America.
Asia Pacific has dominated the Automotive RADAR market in 2023. The Asia Pacific region includes China, India, Japan, South Korea, and the Rest of Europe. Government initiatives—such as “Made in China 2025” and “Made in India”—are catalyzing the growth of the automotive sector in the region. Improvements in infrastructure, increases in domestic consumption, and low labor costs in Southeast countries in Asia are the key factors which are attracting automotive companies to this region. In addition, a rise in investment in research and development of automotive technologies is anticipated to fuel the automotive RADAR market growth in the coming years. Moreover, increasing efforts by automotive giants in the optimization of automated cars are expected to significantly fuel the sale of electric vehicles in APAC countries such as India, Malaysia, Singapore, and Thailand. For instance, in October 2022, the US-based company named Magna International invested more than US$ 120 million in establishing and operating new engineering centers in Bengaluru, India.
Automotive RADAR Market Report Scope
Automotive RADAR Market News and Recent Developments
The Automotive RADAR market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for Automotive RADAR market and strategies:
- In January 2021, The company introduced next generation level 1-3 capable advanced driver assistance systems (ADAS) platform. This ADAS solution is cost effective and efficient hence strengthened the product portfolio of the company.
- In September 2023, Valeo partnered with Mobileye. This partnership aimed at development of software-defined best-in class imaging radars for next-generation driver assist and automated driving features.
Automotive RADAR Market Report Coverage and Deliverables
The “Automotive RADAR Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed Porter’s Five Forces analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles with SWOT analysis
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Range , Frequency , Application , and Vehicle Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, South Africa, South Korea, Turkey, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Trends and growth analysis reports related to Automotive RADAR Market
May 2024
Electric Vehicle Heat Pump Systems Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Propulsion Type (BEV, HEV, PHEV), Component (Evaporator, Condenser, Compressors, Others), Vehicle Type (Passenger Vehicle, Commercial Vehicle), and Geography
May 2024
Hydrogen Fuel Cell Train Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Technology (Proton Exchange Membrane Fuel Cell, Phosphoric Acid Fuel Cell, and Others), Component (Hydrogen Fuel Cell Pack, Batteries, Electric Traction Motors, and Others), Rail Type (Passenger Rail, Commuter Rail, Light Rail, Trams, Freight, and Others) and Geography
May 2024
Automotive Seat Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Technology (Heated, Heated-Ventilated, Ventilated, With Massage Functions, and Others), Adjustment Type (Electrically Adjusted and Manual), Vehicle Type (Passenger Vehicle, Light Commercial Vehicle, and Heavy Commercial Vehicle), and Seat Type (Front Row, Second Row, and Third Row) and Geography
May 2024
Connected Vehicle Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis By Technology (5G, 4G/LTE, 3G & 2G), Connectivity (Integrated, Tethered, Embedded), Application (Telematics, Infotainment, Driving assistance, Others) and Geography
May 2024
Automotive High Voltage Cable Market
Forecast to 2030 - Global Analysis by Vehicle Type [Battery Electric Vehicles (BEV), Plugin Hybrid Electric Vehicles (PHEV), and Plugin Hybrid Vehicles (PHV)], Conductor Type (Copper and Aluminum), and Core Type (Multi Core and Single Core)
May 2024
40-Ft Electric Boat Market
Forecast to 2030 - Global Analysis by Propulsion (Pure Electric, Hybrid, and Sail Electric), Battery Type (Nickel-Based, Lead-Acid, and Lithium-Ion), Application (Fishing, Recreational, and Others), Voltage Architecture (12 V, 24 V, and 48 V), and Boat Type (Trawlers, Catamarans, Yachts, Power Cruisers, and Others)