Product Code: AT 5230
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%. The automotive sector is experiencing a notable shift from focusing solely on vehicle performance and efficiency to prioritizing safety and convenience. With growing consumer awareness and increasing government mandates regarding active safety measures, there is a rising demand for driver-assisting applications like lane departure warning, lane keep assist, rear park assist, and blind-spot detection. These enhanced features can detect driver drowsiness and alertness, reducing road accidents and mishaps. As automotive radar systems evolve and integrate with AI-driven technologies, they are poised to play a pivotal role in shaping the future of vehicle safety and driving experiences.
Scope of the Report |
Years Considered for the Study | 2023-2030 |
Base Year | 2024 |
Forecast Period | 2024-2030 |
Units Considered | Value (USD Mn/Bn) |
Segments | Range, Vehicle Type, Frequency, Propulsion, Application and Region |
Regions covered | Asia Pacific, Europe, North America, and Rest of the World |
"By frequency, 7X-GHz will grow at the highest CAGR during the forecast period."
By frequency, the 7X-GHz segment is expected to grow at highest CAGR during the forecast period. The 7X-GHz frequency band, comprising 77 GHz and 79 GHz frequencies in automotive radar, represents a significant advancement in radar technology, offering high-resolution, long-range sensing capabilities essential for modern driver assistance systems and autonomous driving features. These frequencies are part of the mmWave spectrum, providing radar systems with finer detail and improved accuracy compared to lower-frequency bands like the 24 GHz band. Moreover, manufacturers are launching new radar systems. For instance, in January 2024, Texas Instruments (US) launched new radar sensor chips designed to create smarter and safer vehicles. The AWR2544 77GHz mmWave, radar sensor chip, enhances autonomy by improving sensor fusion and decision-making in ADAS. Such development will accelerate the market growth in the forecast period.
"Medium-range radar hold the prominent share in the range segment."
Medium-range automotive radar (MRR) systems are essential to modern vehicle safety and driver assistance technologies. MRR systems offer good resolution and accuracy and can detect and track multiple objects simultaneously. This capability is crucial for making informed decisions in complex driving scenarios, such as navigating through intersections or overtaking other vehicles on the highway. Their balanced detection range and versatility make them indispensable for a wide range of ADAS features, significantly improving vehicle safety, efficiency, and driver comfort. As automotive technology continues to advance, the adoption and integration of medium-range radar systems are expected to grow, further enhancing the capabilities of modern vehicles.
"Asia Pacific to be the largest growing market for automotive radar during the forecast period."
The Asia Pacific market is estimated to be the largest growing market during the forecast period. The market growth in Asia Pacific can be attributed to the high vehicle production and use of advanced electronics in Japan, South Korea, and China. These countries' governments have recognized the automotive sector's growth potential and consequently undertaken various initiatives to encourage major OEMs to enter their domestic markets. Several European and US automobile manufacturers, such as Volkswagen AG (Germany), Mercedes Benz (Germany), and General Motors (US), have shifted their production plants to emerging economies in Asia Pacific. Major automotive radar providers such as Robert Bosch GmbH, Continental AG, Aptiv (Ireland), and Denso Corporation (Japan) have production facilities across the region. In March 2023, Aptiv Investment Co., Ltd. announced opening of a connection system engineering center in Wuhan, China. Such development will drive the Asia Pacific market during the forecast period.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.
- By Respondent Type: OEMs - 34%, Tier 1 - 41%, and Others - 25%,
- By Designation: CXO's- 35%, Managers- 49%, and Executives- 16%
- By Region: North America - 24%, Europe - 37%, Asia Pacific- 32%, Rest of the World - 7%
The automotive radar market is primarily dominated by globally recognized players such as Robert Bosch GmbH (Germany), Continental AG (Germany), Aptiv (Ireland), Denso Corporation (Japan), and NXP Semiconductors (Netherlands). These companies manufacture automotive radar and develop new technologies. These companies have set up R&D facilities and offer best-in-class products to their customers.
Research Coverage:
The Market Study Covers the Automotive Radar Market By Range (Short-range Radar, Medium-range Radar, Long-range Radar), By Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle), By Frequency (2X-GHz and 7X-GHz), By Propulsion (ICE and Electric), By Application [Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Blind Spot Detection (BSD), Forward Collision Warning System (FCWS), Intelligent Parking Assistance (IPA), Cross Traffic Alert (CTA), Lane Departure Warning System (LDW) And Traffic Jam Assist (TJA)] and By Region (North America, Europe, Asia Pacific, and the Rest of the World). It also covers the competitive landscape and company profiles of the major automotive radar market ecosystem players.
Key Benefits of the Report
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall automotive radar market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Analysis of key drivers (Increasing consumer demand for ADAS, Doppler frequency shift, Advancements in radar technology), restraints (Inability to distinguish multiple targets, Different climate conditions), opportunities (Growing push for autonomous vehicles, Potential for innovative business models, 4D imaging radar, Signal interference), and challenges (Competition from alternate technologies, Fluctuating raw material prices and supply chain disruptions) influencing the growth of the automotive radar market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the automotive radar market
- Market Development: Comprehensive information about lucrative markets - the report analyses the automotive radar market across varied regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the automotive radar market
- Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Robert Bosch GmbH (Germany), Continental AG (Germany), Aptiv (Ireland), Denso Corporation (Japan), NXP Semiconductors (Netherlands), and among others in the automotive radar market Page 25 of 34 strategies. The report also helps stakeholders understand the pulse of the ADAS market and provides them with information on key market drivers, restraints, challenges, and opportunities.
TABLE OF CONTENTS
1 INTRODUCTION
- 1.1 STUDY OBJECTIVES
- 1.2 MARKET DEFINITION
- 1.2.1 INCLUSIONS AND EXCLUSIONS
- 1.3 STUDY SCOPE
- 1.3.1 SEGMENTS COVERED
- 1.3.2 REGIONS COVERED
- 1.3.3 YEARS CONSIDERED
- 1.3.4 CURRENCY CONSIDERED
- 1.3.5 UNITS CONSIDERED
- 1.4 STAKEHOLDERS
- 1.5 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
- 2.1 RESEARCH DATA
- 2.1.1 SECONDARY DATA
- 2.1.1.1 List of key secondary sources
- 2.1.1.2 Key data from secondary sources
- 2.1.2 PRIMARY DATA
- 2.1.2.1 Primary interviews: demand and supply sides
- 2.1.2.2 Primary participants
- 2.1.2.3 Objectives of primary research
- 2.2 MARKET SIZE ESTIMATION
- 2.2.1 BOTTOM-UP APPROACH
- 2.2.2 TOP-DOWN APPROACH
- 2.3 RECESSION IMPACT ANALYSIS
- 2.4 DATA TRIANGULATION
- 2.5 FACTOR ANALYSIS
- 2.5.1 DEMAND- AND SUPPLY-SIDE FACTOR ANALYSIS
- 2.6 RESEARCH ASSUMPTIONS
- 2.7 RESEARCH LIMITATIONS
- 2.8 RISK ANALYSIS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
- 4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN AUTOMOTIVE RADAR MARKET
- 4.2 AUTOMOTIVE RADAR MARKET, BY RANGE
- 4.3 AUTOMOTIVE RADAR MARKET, BY VEHICLE TYPE
- 4.4 AUTOMOTIVE RADAR MARKET, BY FREQUENCY
- 4.5 AUTOMOTIVE RADAR MARKET, BY PROPULSION
- 4.6 AUTOMOTIVE RADAR MARKET, BY REGION
5 MARKET OVERVIEW
- 5.1 INTRODUCTION
- 5.2 TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS
- 5.3 MARKET DYNAMICS
- 5.3.1 DRIVERS
- 5.3.1.1 Increasing consumer demand for ADAS in vehicles
- 5.3.1.2 Doppler frequency shift
- 5.3.1.3 Advancements in radar technology
- 5.3.2 RESTRAINTS
- 5.3.2.1 Inability to distinguish multiple targets
- 5.3.2.2 Different climate conditions
- 5.3.3 OPPORTUNITIES
- 5.3.3.1 Growing push for autonomous vehicles
- 5.3.3.2 Potential for innovative business models
- 5.3.3.3 4D imaging radar
- 5.3.3.4 Signal interference
- 5.3.4 CHALLENGES
- 5.3.4.1 Competition from alternate technologies
- 5.3.4.2 Fluctuating raw material prices and supply chain disruptions
- 5.4 PRICING ANALYSIS
- 5.4.1 AVERAGE SELLING PRICE TREND, BY RANGE, 2021-2023
- 5.4.2 AVERAGE SELLING PRICE TREND, BY REGION, 2021-2023
- 5.5 ECOSYSTEM ANALYSIS
- 5.6 SUPPLY CHAIN ANALYSIS
- 5.7 CASE STUDY ANALYSIS
- 5.7.1 NXP'S ADVANCED AUTOMOTIVE RADAR SOCS FOR ENHANCED ADAS
- 5.7.2 AUTOMOTIVE SYNTHETIC APERTURE RADAR BY ROBERT BOSCH
- 5.7.3 ADAS TESTING ENHANCEMENT WITH VIRTUAL AND HARDWARE-IN-THE-LOOP SYSTEMS
- 5.8 INVESTMENT AND FUNDING SCENARIO
- 5.9 PATENT ANALYSIS
- 5.9.1 INTRODUCTION
- 5.9.2 TOP PATENT APPLICANTS
- 5.10 TECHNOLOGY ANALYSIS
- 5.10.1 KEY TECHNOLOGIES
- 5.10.1.1 Multi-radar systems
- 5.10.1.1.1 Functions of multi-radar systems
- 5.10.1.2 AI-integrated radar
- 5.10.1.3 Radar systems for autonomous vehicles
- 5.10.2 COMPLEMENTARY TECHNOLOGIES
- 5.10.2.1 Sub-Terahertz radar
- 5.10.3 ADJACENT TECHNOLOGIES
- 5.10.3.1 Impact of 5G network on machine-to-machine communication
- 5.11 HS CODE ANALYSIS
- 5.11.1 IMPORT/EXPORT SCENARIO (HS CODE 900211)
- 5.12 WHO SUPPLIES WHOM ANALYSIS
- 5.13 REGULATORY LANDSCAPE
- 5.13.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
- 5.13.1.1 North America: Regulatory bodies, government agencies, and other organizations
- 5.13.1.2 Europe: Regulatory bodies, government agencies, and other organizations
- 5.13.1.3 Asia Pacific: Regulatory bodies, government agencies, and other organizations
- 5.14 KEY CONFERENCES AND EVENTS
- 5.15 KEY STAKEHOLDERS AND BUYING CRITERIA
- 5.15.1 KEY STAKEHOLDERS IN BUYING PROCESS
- 5.15.2 BUYING CRITERIA
6 AUTOMOTIVE RADAR MARKET, BY APPLICATION
- 6.1 INTRODUCTION
- 6.2 ADAPTIVE CRUISE CONTROL
- 6.3 AUTOMATIC EMERGENCY BRAKING
- 6.4 BLIND SPOT DETECTION
- 6.5 FORWARD COLLISION WARNING SYSTEM
- 6.6 INTELLIGENT PARKING ASSISTANCE
- 6.7 CROSS TRAFFIC ALERT
- 6.8 LANE DEPARTURE WARNING SYSTEM
- 6.9 TRAFFIC JAM ASSIST
7 AUTOMOTIVE RADAR MARKET, BY FREQUENCY
- 7.1 INTRODUCTION
- 7.2 2X-GHZ
- 7.2.1 COST ADVANTAGE TO DRIVE MARKET IN MID-RANGE AND ENTRY-LEVEL VEHICLES
- 7.3 7X-GHZ SYSTEM
- 7.3.1 ADVANCEMENTS IN ADAS AND AUTONOMOUS DRIVING TO DRIVE MARKET
- 7.4 KEY PRIMARY INSIGHTS
8 AUTOMOTIVE RADAR MARKET, BY PROPULSION
- 8.1 INTRODUCTION
- 8.2 ICE
- 8.2.1 GOVERNMENT REGULATIONS FOCUSING ON IMPROVED VEHICLE SAFETY TO DRIVE MARKET
- 8.3 ELECTRIC
- 8.3.1 PUSH FOR AUTONOMOUS AND SEMI-AUTONOMOUS TECHNOLOGIES TO DRIVE MARKET
- 8.4 KEY PRIMARY INSIGHTS
9 AUTOMOTIVE RADAR MARKET, BY RANGE
- 9.1 INTRODUCTION
- 9.2 SHORT-RANGE RADAR
- 9.2.1 QUICK AND ACCURATE RESPONSES TO ENHANCE SAFETY TO DRIVE MARKET
- 9.3 MEDIUM-RANGE RADAR
- 9.3.1 BALANCE BETWEEN CLOSE-RANGE PRECISION OF SHORT-RANGE RADAR AND EXTENDED REACH OF LONG-RANGE RADAR TO DRIVE MARKET
- 9.4 LONG-RANGE RADAR
- 9.4.1 GROWING USE FOR AUTOMATIC EMERGENCY BRAKING AND FORWARD COLLISION WARNING TO DRIVE MARKET
- 9.5 KEY PRIMARY INSIGHTS
10 AUTOMOTIVE RADAR MARKET, BY VEHICLE TYPE
- 10.1 INTRODUCTION
- 10.2 PASSENGER CAR
- 10.2.1 RISING DEMAND FOR ADVANCED SAFETY FEATURES IN PASSENGER CARS TO DRIVE MARKET
- 10.3 LIGHT COMMERCIAL VEHICLE
- 10.3.1 INCREASING INTEGRATION OF ADAS IN LIGHT COMMERCIAL VEHICLES TO DRIVE MARKET
- 10.4 HEAVY COMMERCIAL VEHICLE
- 10.4.1 GROWING NEED FOR IMPROVED DRIVER VISIBILITY ON BLIND SPOTS TO DRIVE MARKET
- 10.5 KEY PRIMARY INSIGHTS
11 AUTOMOTIVE RADAR MARKET, BY REGION
- 11.1 INTRODUCTION
- 11.2 ASIA PACIFIC
- 11.2.1 RECESSION IMPACT ANALYSIS
- 11.2.2 CHINA
- 11.2.2.1 Increasing demand for ADAS features in passenger cars to drive market
- 11.2.3 JAPAN
- 11.2.3.1 Government initiatives to enhance ADAS features to drive market
- 11.2.4 INDIA
- 11.2.4.1 Focus on affordable safety solutions and technologies to drive market
- 11.2.5 SOUTH KOREA
- 11.2.5.1 Introduction of new vehicle models with ADAS to drive market
- 11.2.6 THAILAND
- 11.2.6.1 Increasing demand for electric vehicles to drive the market
- 11.2.7 INDONESIA
- 11.2.7.1 Government support for electrification of light commercial vehicles to drive market
- 11.2.8 REST OF ASIA PACIFIC
- 11.3 EUROPE
- 11.3.1 RECESSION IMPACT ANALYSIS
- 11.3.2 FRANCE
- 11.3.2.1 Stright government policies for vehicle and passenger safety to drive market
- 11.3.3 GERMANY
- 11.3.3.1 Growing sales of luxury vehicles with advance safety features to drive market
- 11.3.4 SPAIN
- 11.3.4.1 Collaboration between OEMs and technology firms to drive market
- 11.3.5 UK
- 11.3.5.1 Focus on innovation and high-tech manufacturing to drive market
- 11.3.6 RUSSIA
- 11.3.6.1 Growth of ADAS adoption in compact car models to drive market
- 11.3.7 TURKIYE
- 11.3.7.1 Government support to modernize automotive sector to drive market
- 11.3.8 REST OF EUROPE
- 11.4 NORTH AMERICA
- 11.4.1 RECESSION IMPACT ANALYSIS
- 11.4.2 US
- 11.4.2.1 Growing integration of high-quality radar across various vehicle segments to drive market
- 11.4.3 CANADA
- 11.4.3.1 Strong consumer demand for vehicles with advanced features to drive market
- 11.4.4 MEXICO
- 11.4.4.1 Key exporter of vehicles with stringent safety standards to drive market
- 11.5 REST OF THE WORLD
- 11.5.1 RECESSION IMPACT ANALYSIS
- 11.5.2 BRAZIL
- 11.5.2.1 Presence of key automotive sector players to drive market
- 11.5.3 IRAN
- 11.5.3.1 Partnerships between international automakers and local companies to drive market
- 11.5.4 OTHERS
12 COMPETITIVE LANDSCAPE
- 12.1 INTRODUCTION
- 12.2 KEY PLAYER STRATEGIES/RIGHT TO WIN
- 12.3 MARKET SHARE ANALYSIS, 2023
- 12.3.1 ROBERT BOSCH GMBH
- 12.3.2 CONTINENTAL AG
- 12.3.3 APTIV
- 12.3.4 DENSO CORPORATION
- 12.3.5 NXP SEMICONDUCTORS
- 12.4 REVENUE ANALYSIS, 2019-2023
- 12.5 COMPANY VALUATION AND FINANCIAL METRICS
- 12.5.1 COMPANY VALUATION
- 12.5.2 FINANCIAL METRICS
- 12.6 BRAND/PRODUCT COMPARISON
- 12.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
- 12.7.1 STARS
- 12.7.2 EMERGING LEADERS
- 12.7.3 PERVASIVE PLAYERS
- 12.7.4 PARTICIPANTS
- 12.7.4.1 Company footprint
- 12.8 COMPANY EVALUATION MATRIX: START-UP/SMES, 2024
- 12.8.1 PROGRESSIVE COMPANIES
- 12.8.2 RESPONSIVE COMPANIES
- 12.8.3 DYNAMIC COMPANIES
- 12.8.4 STARTING BLOCKS
- 12.9 COMPETITIVE BENCHMARKING
- 12.10 COMPETITIVE SCENARIOS AND TRENDS
- 12.10.1 PRODUCT LAUNCHES
- 12.10.2 DEALS
- 12.10.3 EXPANSIONS
- 12.10.4 OTHER DEVELOPMENTS
13 COMPANY PROFILES
- 13.1 KEY PLAYERS
- 13.1.1 ROBERT BOSCH GMBH
- 13.1.1.1 Business overview
- 13.1.1.2 Products offered
- 13.1.1.3 Recent developments
- 13.1.1.4 Others
- 13.1.1.5 MnM view
- 13.1.1.5.1 Key strengths
- 13.1.1.5.2 Strategic choices
- 13.1.1.5.3 Weaknesses and competitive threats
- 13.1.2 CONTINENTAL AG
- 13.1.2.1 Business overview
- 13.1.2.2 Products offered
- 13.1.2.3 Recent developments
- 13.1.2.4 MnM view
- 13.1.2.4.1 Key strengths
- 13.1.2.4.2 Strategic choices
- 13.1.2.4.3 Weaknesses and competitive threats
- 13.1.3 APTIV
- 13.1.3.1 Business overview
- 13.1.3.2 Products offered
- 13.1.3.3 Recent developments
- 13.1.3.4 MnM view
- 13.1.3.4.1 Key strengths
- 13.1.3.4.2 Strategic choices
- 13.1.3.4.3 Weaknesses and competitive threats
- 13.1.4 DENSO CORPORATION
- 13.1.4.1 Business overview
- 13.1.4.2 Products offered
- 13.1.4.3 Recent developments
- 13.1.4.4 MnM view
- 13.1.4.4.1 Key strengths
- 13.1.4.4.2 Strategic choices
- 13.1.4.4.3 Weaknesses and competitive threats
- 13.1.5 NXP SEMICONDUCTORS
- 13.1.5.1 Business overview
- 13.1.5.2 Products offered
- 13.1.5.3 Recent developments
- 13.1.5.4 Deals
- 13.1.5.5 MnM view
- 13.1.5.5.1 Key strengths
- 13.1.5.5.2 Strategic choices
- 13.1.5.5.3 Weaknesses and competitive threats
- 13.1.6 INFINEON TECHNOLOGIES AG
- 13.1.6.1 Business overview
- 13.1.6.2 Products offered
- 13.1.6.3 Recent developments
- 13.1.7 VALEO
- 13.1.7.1 Business overview
- 13.1.7.2 Products offered
- 13.1.7.3 Recent developments
- 13.1.8 ZF FRIEDRICHSHAFEN AG
- 13.1.8.1 Business overview
- 13.1.8.2 Products offered
- 13.1.8.3 Recent developments
- 13.1.9 TEXAS INSTRUMENTS INCORPORATED
- 13.1.9.1 Business overview
- 13.1.9.2 Products offered
- 13.1.9.3 Recent developments
- 13.1.10 VEONEER
- 13.1.10.1 Business overview
- 13.1.10.2 Products offered
- 13.1.10.3 Recent developments
- 13.1.11 MAGNA INTERNATIONAL INC.
- 13.1.11.1 Business overview
- 13.1.11.2 Products offered
- 13.1.11.3 Recent developments
- 13.1.12 RENESAS ELECTRONICS CORPORATION
- 13.1.12.1 Business overview
- 13.1.12.2 Products offered
- 13.1.12.3 Recent developments
- 13.2 OTHER PLAYERS
- 13.2.1 HL KLEMOVE
- 13.2.2 AMBARELLA INTERNATIONAL LP
- 13.2.3 HITACHI ASTEMO, LTD.
- 13.2.4 KYOCERA CORPORATION
- 13.2.5 SAMSUNG ELECTRO-MECHANICS
- 13.2.6 HYUNDAI MOBIS
- 13.2.7 STONKAM CO., LTD.
- 13.2.8 BRIGADE ELECTRONICS GROUP PLC
- 13.2.9 LG ELECTRONICS
- 13.2.10 VAYYAR AUTOMOTIVE
- 13.2.11 STMICROELECTRONICS
- 13.2.12 NOVELIC
- 13.2.13 HUAWEI TECHNOLOGIES CO., LTD.
- 13.2.14 HELLA GMBH & CO. KGAA
14 RECOMMENDATIONS BY MARKETSANDMARKETS
- 14.1 EUROPE TO BE PROMINENT MARKET FOR AUTOMOTIVE RADAR
- 14.2 TECHNICAL ADVANCEMENTS IN RADAR TECHNOLOGY TO DRIVE AUTONOMOUS VEHICLE INNOVATION
- 14.3 GROWING DEMAND FOR ADVANCED DRIVER ASSISTANCE SYSTEMS TO AUTOMOTIVE RADAR MARKET
- 14.4 CONCLUSION
15 APPENDIX
- 15.1 KEY INSIGHTS OF INDUSTRY EXPERTS
- 15.2 DISCUSSION GUIDE
- 15.3 KNOWLEDGESTORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
- 15.4 CUSTOMIZATION OPTIONS
- 15.4.1 ADDITIONAL COMPANY PROFILES UP TO 5
- 15.4.2 AUTOMOTIVE RADAR MARKET BY TYPE AT COUNTRY LEVEL
- 15.4.3 AUTOMOTIVE RADAR MARKET BY FREQUENCY AT COUNTRY LEVEL
- 15.5 RELATED REPORTS
- 15.6 AUTHOR DETAILS