What is the global market size of Automotive Radar Sensors Market?

Global Automotive Radar Sensors Market size was valued at USD 4.93 billion in 2021 and is poised to grow from USD 5.47 billion in 2022 to USD 12.55 billion by 2030, growing at a CAGR of 10.94% in the forecast period (2023-2030).

Who are the key vendors in the Global Automotive Radar Sensors Market?

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. 'Robert Bosch GmbH', 'Continental AG', 'Denso Corporation', 'Infineon Technologies AG', 'Texas Instruments Incorporated', 'Valeo S.A.', 'Autoliv Inc.', 'NXP Semiconductors N.V.', 'Aptiv PLC', 'HELLA GmbH & Co. KGaA', 'Fujitsu Limited', 'ZF Friedrichshafen AG', 'Panasonic Corporation', 'Analog Devices, Inc.', 'HARMAN International', 'Mitsubishi Electric Corporation', 'TDK Corporation', 'Hitachi Automotive Systems, Ltd.', 'STMicroelectronics N.V.', 'Renesas Electronics Corporation'.

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 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.

Automotive Radar Sensors Market Report Snapshots

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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).

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. '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)'

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

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.

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Automotive Radar Sensors Market Regional Insights

Automotive Radar Sensors Market Report Snapshots

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What is the global market size of Automotive Radar Sensors Market?

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