Automotive Radar Market

According to a research report "Automotive Radar Market by Range (Short Range, Medium Range and Long Range), Vehicle Type (PC, LCV, and HCV), Frequency (2X-GHz, and 7X-GHz), Propulsion (ICE and Electric), Application and Region - Global Forecast to 2030" published by MarketsandMarkets, The global automotive radar market is projected to grow from USD 6.6 billion in 2024 to USD 33.6 billion by 2030, registering a CAGR of 31.1%.

Browse 266 market data Tables and 83 Figures spread through 277 Pages and in-depth TOC on "Automotive Radar Market by Range (Short Range, Medium Range and Long Range), Vehicle Type (PC, LCV, and HCV), Frequency (2X-GHz, and 7X-GHz), Propulsion (ICE and Electric), Application and Region - Global Forecast to 2030"
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The automotive radar market is flourishing due to a confluence of factors. The primary driver is the surging demand for Advanced Driver-Assistance Systems (ADAS) and autonomous vehicles. These technologies heavily rely on radar for object detection and measurement, making it an essential component. Furthermore, stricter government regulations mandating vehicle safety features create a strong market tailwind. The rising popularity of premium and luxury cars packed with ADAS features is another positive factor propelling the market of automotive radar systems.

“7X-GHz hold the largest market share during the forecast period.”

The 7X-GHz RADAR system is estimated to be the larger segment in 2024. At 77 GHz and 79 GHz, radar systems can achieve much higher resolutions, allowing for more precise detection and tracking of objects on the road. Additionally, due to the reduced cost and technical superiority over other bands driven by factors such as rising government regulations for vehicle safety and an increase in the adoption of automotive radar-based ADAS technology by OEMs. In July 2022, the EU released the Vehicle General Safety Regulations, focusing on road safety and autonomous vehicles. The regulations will apply to all new vehicles starting July 2024. The newer regulations include a series of mandatory ADAS features, categorized by cars and vans, buses and trucks. All road vehicles are expected to have intelligent speed assistance, attention warnings for driver drowsiness or distraction, event data recorders, and emergency stop signals. Furthermore, the new regulations state that cars and vans must have lane keeping systems and automated braking, while buses and trucks must be equipped with blind spot detection and pedestrian and cyclist collision prevention systems. Thus, due to increasing regulations regarding safety, demand for 7X-GHz radar will increase during the forecast period.

“Light commercial vehicle to hold second largest market share during the forecast period.”

In recent years, the integration of automotive radar in light commercial vehicles (LCVs) has notably increased. This surge is primarily fueled by the paramount importance of safety considerations within this sector. Light commercial vehicles, commonly utilized for transporting goods and passengers, face heightened risks on the road, where even minor accidents can result in significant repercussions. Radar systems in LCVs significantly enhance safety and operational efficiency by enabling advanced driver assistance features such as ACC, AEB, and BSD. These systems use radar sensors to monitor the vehicle's surroundings, providing accurate and reliable data for collision avoidance, safe lane changes, and parking assistance. Due to such features, the implementation of radar in LCVs will increase during the forecast period.

“North America to be the prominent growing market for radar during the forecast period.”

The automotive radar market in North America is rapidly expanding, driven by technological advancements and a high demand for vehicle safety features. Automotive radar serves a vital purpose in modern cars by providing a complementary sensing method to cameras and LiDAR for ADAS and future autonomous vehicles. The US is projected to be the largest market for automotive radar in North America during the forecast period. A key reason for this is the high demand for advanced safety features and the strong presence of major automakers such as Ford (US), Tesla (US), and GM (US), which are using various radar-based semi-autonomous driving systems in their vehicles like Ford Blue Cruise, Tesla Autopilot and GM Super Cruise. Furthermore, the anticipated rise in autonomous vehicle adoption will necessitate a substantial number of radars for safe operation. Consequently, the North American automotive radar market is set for continued growth and innovation in the coming years.

The automotive radar market is dominated by established players such as Robert Bosch GmbH (Germany), Continental AG (Germany), Aptiv (Ireland), Denso Corporation (Japan), and NXP Semiconductors (Netherlands).

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