USD 4.93 billion
Automotive Radar Sensors Market Size, Share, Growth Analysis, By Range(Short Range, Medium Range, Long Range), By Application(Lane Change Assist, Adaptive Cruise Control, Autonomous Emergency Braking, Blind Spot Detection), By Vehicle Type(Passenger Cars, Commercial Vehicles), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25A2050 |
Region:
Global |
Published Date: October, 2024
Pages:
242
|Tables:
89
|Figures:
76
Automotive Radar Sensors Market Insights
Global Automotive Radar Sensors Market size was valued at USD 9.5 billion in 2022 and is poised to grow from USD 11.69 billion in 2023 to USD 61.67 billion by 2031, growing at a CAGR of 11.80% during the forecast period (2024-2031).
Automotive Radar Sensors are becoming popular since It has many advantages like optical imaging, video, ultrasonic infrared, LIDAR and radar. In optical imaging, it provides a large field of view which is high resolution. The ultrasonic applications of automotive radar can be operative in all weather and light conditions along with it is cost effective too.
The automotive radar sensors are of different types, which includes short range radar, mid range radar and long range radar. The reliability and versatility make them irreversible and irreplaceable parts in modern ADAS/AD systems. It operates with high precision and accuracy information content, including speed and range detection when compared to other alternative sensors, especially the visual sensors which were previously used. Increase demand for premium segment vehicle has led to the increase the use of automotive radar sensors in it. However, solution installation and rising cost of devices restricts the growth of automotive radar as it increases the overall cost of the vehicle in which it is applied.
US Automotive Radar Sensors Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Transportation
Fastest Growth
Transportation
Growth Rate
10.94% CAGR
Global Automotive Radar Sensors Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Automotive Radar Sensors Market Segmental Analysis
Global Automotive Radar Sensors Market is segmented by Range, Application, Vehicle Type, end user and region. Based on component, the market is segmented into Short Range, Medium Range, and Long Range. Based on Application, the market is segmented into Lane Change Assist, Adaptive Cruise Control, Autonomous Emergency Braking, Blind Spot Detection, Forward Collision Warning System. Based on Vehicle Type, the market is segmented into Passenger Cars, and Commercial Vehicles. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Automotive Radar Sensors Market Analysis by Application
By application, the global market is divided into many segments such as Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Blind Spot Detection (BSD), Forward Collision Warning System, Intelligent Park Assist and Other ADAS Applications.Adaptive Cruise Control (ACC) segment held largest global Automotive Radar Sensors Market share due to the wide range of benefits provided by it and early adoption of features by people in Automotive Radar Sensors .
The Forward Collision Warning System is expected to grow with the fastest CAGR. Increasing numbers of cars in developing populated countries like India will lead to the growth of the market in future.
Automotive Radar Sensors Market Analysis by Range
By range, the Automotive Radar Sensors Market is classified into Long Range RADAR (LRR) and Short and Medium Range RADAR. The Medium Range RADAR segment is one of the main reasons for innovation and growth across all technology industries including the global, therefore it holds the largest amount of share in the automotive radar sensor market. There are many advantages provided by the medium Range radar such as park assist, Cross traffic alert, and lane change assist.
Along with it, due to the adoption of adaptive cruise control, which is primarily made with the help of long range radars will drive the market of that segment too.
Global Automotive Radar Sensors Market By Type
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Automotive Radar Sensors Market Regional Insights
Globally, the Asia Pacific region is estimated to hold the highest global Automotive Radar Sensors Market share. Main factors during this growth period are the presence of top market players, Increasing disposable income of the population across the region and Technological advancement in the automobile sector.
Above all, Europe is expected to grow fastest during the forecast period. The reason for the same is increasing acquisition of Automotive Radar Sensors technology in the region of Europe. Penetration of Automated radar sensors in Europe has doubled in the last few years. In addition, major firms are investing heavily in order to provide high speed services at an affordable price to the consumers, which is likely to boost the demand for Automotive Radar Sensors in the region.
Global Automotive Radar Sensors Market By Region
- Largest
- Fastest
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Automotive Radar Sensors Market Dynamics
Automotive Radar Sensors Market Drivers
Increasing Applications of Automotive Radar Sensors to Bolster its Demand
- Currently, all across the globe, consumers of car are considering comfort as the crucial factor of purchase. The automotive radar seen high end are used, such as adaptive trip control and parking add controls to make driving more comfortable for drivers, manufacturers are adding safety technology. Moreover, other advantages of automotive radar includes improving safety, reducing the risk of road accidents, aid in traffic management. Therefore, these advantages and increasing popularity will lead to the growth of automotive radar sensor market all across the globe. users now use
Automotive Radar Sensors Market Restraints
Technology Vulnerability to Hinder Market Growth
- Any spoofing assault on a car might seriously jeopardize the safety of the passengers by triggering abrupt stops, direction changes, or collisions between two vehicles in close proximity. Because radar technology uses a certain signal structure and any loss of inherent authentication can result in technological weakness, this spoofing attack is possible. Security risk may therefore have a significant adverse effect on the market expansion for automobile radar systems.
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Automotive Radar Sensors Market Competitive Landscape
Competition in the global Automotive Radar Sensors Market is expected to increase during the forecast period because new players are expected to enter in the global market and the number of devices compatible with Automotive Radar Sensors will also increase. Currently, only a few key players are providing their services in the global market but these numbers will increase in the upcoming years.
Automotive Radar Sensors Market Top Player’s Company Profiles
- Acconeer AB (Sweden)
- AISIN CORP. (Japan)
- Arbe Robotics Ltd (Israel)
- Autoliv Inc. (Sweden)
- Banner Engineering Corp. (US)
- Denso Corporation (Japan)
- Faurecia SE (France)
- Infineon Technologies AG (Germany)
- MediaTek Inc. (Taiwan)
- NXP Semiconductors NV (Netherlands)
- Renesas Electronics Corp. (Japan)
- Robert Bosch GmbH (Germany)
- Rohde and Schwarz GmbH and Co. KG (Germany)
- S.M.S. Smart Microwave Sensors GmbH (Germany)
- Schaeffler AG (Germany)
- Texas Instruments Incorporated (US)
- Valeo SA (France)
- Vayyar Imaging Ltd. (Israel)
- Eravant (US)
- Continental AG (Germany)
- ZF Friedrichshafen AG (Germany)
- Aptiv PLC (Ireland)
Automotive Radar Sensors Market Recent Developments
- In May 2022, The Driving Assistance Package's vehicle sensing technology forms the foundation of Mercedes-Conditionally Benz's Automated Driving (SAE-Level 3) system, which also contains other sensors that the company deems essential for safe operation. Radar, LiDAR, and cameras are the main ones, but ultrasound and moisture sensors are also useful for gathering information. Mercedes-Benz hopes to acquire regulatory series clearance for the two U.S. states of California and Nevada by the end of the year, parallel to the successful launch of DRIVE PILOT in Germany, assuming the legal situation authorizes the system's use.
Automotive Radar Sensors Key Market Trends
- In the automotive radar system market, a number of system and chip manufacturing companies are involved. One of the major trends in this market include object identification along with high focus of safety with the inclusion of 360 degrees of vehicle surveillance car 2X which includes car to car and car to infrastructure communication and rear end crash avoidance.
Automotive Radar Sensors Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global Automotive Radar Sensors Market analysis, the global market is estimated to have significant growth during the forecast period because of the benefits it consists of such as adaptive trip control and parking add controls to make driving more comfortable for drivers, manufacturers are adding safety technology. Automotive Radar Sensors will enable devices to be more convenient for their users. The market has so much potential for new players also because of the high expected rate of growth and demand.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 9.5 billion |
| Market size value in 2031 | USD 61.67 billion |
| Growth Rate | 11.80% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Automotive Radar Sensors Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Automotive Radar Sensors Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Automotive Radar Sensors Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive Radar Sensors Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive Radar Sensors Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Automotive Radar Sensors Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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