The automotive radar market is forecasted to grow steadily, achieving a compound annual growth rate (CAGR) of 13.2% from 2023 to 2033. The market, valued at USD 5.2 billion in 2023, is expected to reach approximately USD 18.0 billion by 2033.
This growth is driven by the expanding automotive sector and continuous research and development in vehicle safety and security. The integration of features like autonomous driving, blind spot detection, and parking assistance is enhancing the market’s value. Advanced radar systems are improving sensory capabilities, approaching the performance level of LiDAR, a crucial component for Level 3 autonomous vehicles and guided parking assistance systems.
The demand for vehicles equipped with ADAS (Advanced Driver Assistance Systems) and autonomous driving options is on the rise. Additionally, government mandates for essential safety features are accelerating market growth. Recent innovations include the development of 4D radars, meta-materials for antennas, road condition analysis, and sub-terahertz radar, all aimed at enhancing radar connectivity and imaging. Advanced signal processing and the incorporation of AI and machine learning technologies are expected to further transform the market.
In-Depth Market Analysis: A Complete Report
Key Insights
- United States: Leading the North American automotive radar market with a 27.8% share in 2022, attributed to the presence of autonomous automotive brands like Tesla, high per capita income, and rising car sales.
- Germany: A key market in Europe with a 14.7% share in 2022. Growth is fueled by substantial production facilities, extensive R&D, and strong exports, supported by prominent automakers like Audi, BMW, and Volkswagen.
- India: The automotive radar market is expanding at a CAGR of 14.3% from 2023 to 2033, driven by increased car sales, more brands entering the passenger vehicle segment, and stricter safety regulations.
- China: Growing at a CAGR of 11.9% during the forecast period due to rising demand for autonomous vehicles and other advanced vehicles.
- Radar Type: Short- and medium-range radars lead the market with a 47.3% share in 2022.
- Application Segment: Forward Collision Warning Systems (FCWS) hold the largest share by application, accounting for 29.8% in 2022.
Competitive Landscape
The key vendors try to work on enhancing the network bandwidth, vivid imaging, and flexible functionality. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
Recent Market Developments
- Denso Corp revisited the 24-Ghz Band Submillimeter-wave radar sensor that detects the rear of the vehicle and reduces the accident risks to the minimum.
- OmniVision Technologies, Inc introduced its integrated automotive imaging systems, including autonomous driving, e-mirrors, in-cabin monitoring, and surround view cameras.
Key Players
- Delphi Automotive LLP
- Autoliv Inc.
- Denso Corp.
- OmniVision Technologies, Inc.
- Robert Bosch GmbH
- Texas Instruments Inc.
- Valeo Group
- ZF TRY
- SaberTek, Inc.
- Analog Devices, Inc.
Key Segmentations Covered
By Type:
- Long Range RADAR (LRR)
- Short & Medium Range RADAR (S&MRR)
By Technology:
- Millimeter Wave Radar
- Ultrasonic Radar
- LiDAR (Light Detection and Ranging)
- Camera
By Frequency:
- 24 GHz
- 77 GHz
- 79 GHz
By Application:
- Adaptive Cruise Control (ACC)
- Autonomous Emergency Braking (AEB)
- Blind Spot Detection (BSD)
- Forward Collision Warning System
- Intelligent Park Assist
Key Regions Covered:
- North America
- United States
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- United Kingdom
- France
- Spain
- Russia
- Rest of Europe
- Japan
- Asia Pacific Excluding Japan
- China
- India
- Malaysia
- Singapore
- Australia
- Rest of Asia Pacific Excluding Japan (APEJ)
- The Middle East and Africa
- GCC Countries
- Israel
- South Africa
- Middle East and Africa (MEA)
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