What is the global market size of Automotive Radar Market?

Global Automotive Radar Market size was valued at USD 3.98 Billion in 2021 and is poised to grow from USD 4.40 Billion in 2022 to USD 9.51 Billion by 2030, growing at a CAGR of 10.5% in the forecast period (2023-2030).

Automotive Radar Market Size, Share, Trends & Forecast

Q: What is the key market trend for Global Automotive Radar Market?

The global surge in road accidents has fueled a pronounced uptick in the demand for safety enhancements within vehicles such as but not limited to parking assistance, collision avoidance systems, lane departure warnings, traction control, electronic stability control, tire pressure monitors, airbags, and telematics. This heightened emphasis on safety features stems from the pressing need to mitigate the escalating number of accidents worldwide.

Automotive Radar Market Competitive Landscape

The competitive environment of the global Automotive Radar Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry.

Top Player’s Company Profiles

Continental AG

Denso Corporation

Hella KGaA Hueck & Co.

Infineon Technologies AG

Veoneer, Inc.

Autoliv, Inc.

NXP Semiconductors

Valeo Group

ZF Friedrichshafen AG

Texas Instruments

Others

FAQs

Automotive Radar market size was valued at USD 4.40 billion in 2022 and is poised to grow from USD 4.86 billion in 2023 to USD 10.81 billion by 2031, growing at a CAGR of 10.5% in the forecast period (2024-2031).

The competitive environment of the Automotive Radar Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry. 'Continental AG', 'Denso Corporation', 'Hella KGaA Hueck & Co.', 'Infineon Technologies AG', 'Veoneer, Inc.', 'Autoliv, Inc.', 'NXP Semiconductors', 'Valeo Group', 'ZF Friedrichshafen AG', 'Texas Instruments', 'Others'

The anticipated surge in sales and demand for passenger vehicles within developing countries stands poised to fuel substantial market growth throughout the forecast period. Countries such as India, China, Japan, and South Korea are projected to significantly contribute to the escalating demand for passenger vehicles. This surge aligns with increasing investments in Research and Development by key industry players within these regions, fostering technological advancements in radar systems integrated into passenger vehicles.

The surge in road accidents has fueled a pronounced uptick in the demand for safety enhancements within vehicles such as but not limited to parking assistance, collision avoidance systems, lane departure warnings, traction control, electronic stability control, tire pressure monitors, airbags, and telematics. This heightened emphasis on safety features stems from the pressing need to mitigate the escalating number of accidents worldwide.

North America is poised to exhibit lucrative growth in the market throughout the forecast period, primarily attributed to the continuous technological advancements of RADAR sensors by automotive manufacturers within the region, particularly in the realm of Advanced Driver Assistance Systems (ADAS). The steady evolution and innovation of sensor-based technologies in the automotive sector have led to an escalating adoption rate. As a result, the demand for integrated, advanced driver assistance systems that harness the combined capabilities of RADAR sensors is expected to soar, further propelling market expansion in North America.

Feedback From Our Clients

"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "

- Mr. Ali Zali, Commercial Director, ICIIC Iran.

Automotive Radar Market Competitive Landscape

Automotive Radar Market Report Snapshots

Want to customize this report?

FAQs

Request Free Customization

Feedback From Our Clients

$5,300

Automotive Radar Market Competitive Landscape

Automotive Radar Market Report Snapshots

Want to customize this report?

FAQs

What is the market size of Automotive Radar Market?

Who are the key vendors in the Automotive Radar Market?

What is the key driver of Automotive Radar Market?

What is the key market trend for Automotive Radar Market?

Which region accounted for the largest share in Automotive Radar Market?

Request Free Customization

Related Reports

Feedback From Our Clients

$5,300