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

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.