Automotive RADAR Market Would Rocket Up to USD 191.53 Billion by 2032

The global automotive RADAR market size was valued at US$ 9.90 billion in 2022 and is predicted to touch US$ 191.53 billion by 2032,with a  CAGR of 35% from 2023 to 2032.

Automotive RADAR technology encompasses both a transmitter and a receiver, utilized for object detection within a vehicle’s vicinity. The transmitter emits radio signals that strike objects and rebound to the receiver. By gauging the signal’s reflection time, crucial data about the object’s speed, distance, and direction is obtained. Three primary types of RADAR systems are commonly applied in the automotive domain: short-range, medium-range, and long-range. These categories serve distinct purposes; long-range RADARs measure speed and distance, medium-range versions identify objects within the field of view, and short-range variants detect objects, such as aiding in parking assistance.

Get a Sample: https://www.precedenceresearch.com/sample/1034

Automotive RADAR Market Factors Contributing to Growth

The automotive RADAR market is bolstered by stringent regulations and proactive initiatives aimed at promoting vehicle safety systems. Concurrently, decreasing prices of automotive electronic components and advancements in automotive technology drive the demand for RADAR systems. Implementing RADAR technology in vehicles significantly enhances safety by accurately sensing surrounding objects. The World Health Organization (WHO) has warned that without improved vehicle safety standards by 2030, road accidents could become the seventh leading global cause of death. A notable portion of road traffic incidents occurs in developing countries, which account for 54% of the world’s total vehicle population. Consequently, manufacturers see substantial prospects for growth in these regions.

Read More: E-bike Drive Unit Market Size is Expanding Around USD 8,36 Billion by 2027

Report Highlights

• Europe is the most prominent revenue shareholder in the global automotive RADAR market in 2019 and expected to flourish significantly in the coming years. The accelerated growth of the region is primarily due to the presence of dominant vehicle manufacturing companies in the region. The automakers in the Germany held nearly 70% of shares in the premium vehicle manufacturing sector.
• The Asia Pacific poised to grow at a prominent rate over the forecast period owing to rising automobile sales along with high disposable income in the region. In addition, growing awareness for vehicle safety and its resultant benefits are the major factors expected to propel the market growth.
• By range, Short & Medium Range RADAR (S&MRR) dominated the global automotive RADAR market in 2019 and predicted to exhibit the fastest growth over the forecast period. This is attributed to the declining prices of the system along with requirement of more than two systems to enhance vehicle performance.
• Passenger cars segment expected to offer higher growth as compared to commercial vehicles in the vehicle type segment. The prime factor responsible for the high growth of passenger cars is increased demand and production. As per OICA, passenger cars account for nearly 75% production share in the global automotive production.
• In terms of application, intelligent park assist led the global automotive RADAR market in 2019 due to the increasing application for parking sensors to prevent the back side collision. However, adaptive cruise control projected to grow at the fastest rate in the coming years.

Snapshot of Regional Trends

In 2019, Europe commanded the global automotive RADAR market, boasting a significant share of revenue. Being an automotive hub with numerous industry giants, Germany alone accounted for nearly 70% of global premium vehicle production. The region’s robust adoption of eco-friendly mobility and electric vehicles further propels the demand for automotive RADAR systems. However, the Asia Pacific region is projected to experience rapid growth during the forecast period, largely attributed to the widespread adoption of environmentally conscious practices across industries like transportation and mobility, coupled with heightened consumer awareness about environmental degradation.

Key Players and Strategies

The global automotive RADAR market is marked by fierce competition among industry players, driven by substantial investments in product development and enhancement. For example, in July 2015, Continental AG successfully integrated 77GHz RADAR technology into the company’s next-gen mid and short-range automotive RADAR modules through a collaboration with U.S.-based semiconductor firm Freescale Semiconductors. This RADAR system was based on the existing MR2001 scalable RADAR transceiver chipset and S32R RADAR microcontroller, suitable for advanced driver assistance systems (ADAS). Additionally, market participants place considerable emphasis on inorganic growth strategies to gain traction. As seen in 2016, Infineon Technologies AG acquired Dutch semiconductor company Innoluce BV, aiming to reduce RADAR system size and manufacturing costs.

Some of the key players operating in the market are Continental AG, Autoliv Inc., DENSO Corporation, Delphi Automotive Company, NXP Semiconductors, Texas Instruments, Robert Bosch GmbH, ZF Friedrichshafen, Valeo, and Analog among the others.

Automotive RADAR Market  Market Segmentation

By Frequency

• 24 GHz
• 77 GHz
• 79 GHz

By Range

• Short & Medium Range RADAR (S&MRR)
• Long Range RADAR (LRR)

By Vehicle Type

• Commercial Vehicle
• Passenger Vehicle

By Application

• Autonomous Emergency Braking (AEB)
• Adaptive Cruise Control (ACC)
• Forward Collision Warning System
• Intelligent Park Assist
• Blind Spot Detection (BSD)
• Others ADAS Applications

By Regional Outlook

• North America
• Europe
• Asia Pacific
• Rest of the World

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.