The global automotive radar market Growth Accelerated by Increased Demand for Advanced Driver Assistance Systems
The automotive radar market consists of radar sensors, transmitters, and receivers used in vehicles for accident prevention and safety purposes. Radar sensors detect the proximity and velocity of other vehicles and obstacles on the road, assisting drivers with features like adaptive cruise control, lane change assistance, autonomous emergency braking, and parking assistance. This alleviates driver stress and enhances safety.
The global automotive radar market is estimated to be valued
at US$ 5.6 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031, as highlighted
in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving growth in the automotive
radar market size is the increased demand for advanced driver
assistance systems from consumers. As autonomous and semi-autonomous driving
technologies advance rapidly, drivers are getting more accustomed to safety and
convenience features in their vehicles that take some load off manual driving.
Major automakers are thereby incorporating more radar sensors to provide
features like adaptive cruise control, lane keeping assistance and even
partially automated highway driving. The integration of more radars enables
higher levels of driver assistance and improves overall road safety. This
growing demand is accelerating the automotive radar market's expansion over the
forecast period.
Segment Analysis
The global automotive radar market can be segmented by range, technology,
application, and vehicle type. Based on range, the long-range radar segment
dominated the market in 2024 and is estimated to maintain its dominance throughout
the forecast period. Long-range radars provide accurate detection of objects at
a longer distance, hence dominating the automotive radar market.
Key Takeaways
The global automotive radar market is expected to witness high growth. The
global automotive radar market is estimated to be valued at US$ 5.6 Bn in 2024
and is expected to exhibit a CAGR of 11%
over the forecast period 2024 to 2031.
Regional analysis related content comprises North America
held the largest share of the automotive radar market in 2024 and is estimated
to grow at the highest CAGR during the forecast period. This is attributed to
the presence of major automotive radar manufacturers and early adoption of
advanced driver assistance systems in the region.
Key players related content comprises Key players operating in the automotive
radar market are Bosch, Continental, Denso, Delphi Automotive, TRW Automotive,
Hella, Valeo, NXP Semiconductors, Infineon Technologies, and Fujitsu Ten. Bosch
held the largest share of the global automotive radar market in 2024. The
company offers radar sensors with various features for driver assistance
systems and autonomous driving applications.
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