The global Automotive RADAR Market is valued at USD 18.04 billion in 2024 and is expected to reach USD 298.86 billion by 2034, growing at a CAGR of 32.4%.
Automotive RADAR Market Critical Observations
- Asia Pacific dominated the global automotive RADAR market in 2023 with the highest market share.
- Europe is expected to grow at the fastest CAGR during the forecast period.
- By Range: The Short & Medium Range RADAR (S&MRR) segment held the largest market share in 2023.
- By Application: The intelligent park assist segment accounted for over 52% of the revenue share in 2023.
- By Application: The adaptive cruise control (ACC) segment is projected to grow at the fastest CAGR over the forecast period.
The automotive radar market is experiencing significant growth, driven by the increasing demand for advanced driver assistance systems (ADAS) and the push towards autonomous vehicles. In 2024, the market was valued at approximately USD 6.5 billion and is projected to reach USD 33.6 billion by 2030, reflecting a compound annual growth rate (CAGR) of 31.1%.
Market Scope
| Report Highlights | Details |
| Market Size by 2034 | USD 298.86 Billion |
| Market Size in 2023 | USD 13.37 Billion |
| Market Size in 2024 | USD 18.04 Billion |
| Growth Rate from 2024 to 2034 | CAGR of 32.4% |
| Largest Market | Europe |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2023 |
| Forecast Period | 2024 to 2034 |
| Segments Covered | Frequency, Range, Vehicle Type, Application, Regional Outlook |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Core Factors
Several factors contribute to this expansion. The rising emphasis on vehicle safety has led to the integration of radar-based technologies, such as collision avoidance and adaptive cruise control, into modern vehicles. Government regulations mandating enhanced safety features further propel this trend. Additionally, technological advancements have made radar systems more accurate and affordable, encouraging their adoption across various vehicle segments.
Potentials
The evolution of autonomous driving presents vast opportunities for the automotive radar market. As vehicles become more self-reliant, the need for precise environmental sensing grows, positioning radar systems as essential components. Emerging markets, particularly in the Asia-Pacific region, are witnessing increased vehicle production and a growing middle class, leading to higher demand for vehicles equipped with advanced safety features. This regional growth is expected to contribute significantly to the market’s expansion.
Obstacles
Regional Insights
Regionally, Asia-Pacific leads the market, accounting for over 54.9% of the global share in 2024. This dominance is attributed to the region’s robust vehicle production and rapid adoption of advanced safety systems. Europe and North America also hold substantial market shares, driven by stringent safety regulations and a high demand for luxury vehicles equipped with the latest technologies.
Don’t Miss Out: Automotive Aftermarket
Industry Leaders
- Continental AG
- Autoliv Inc.
- DENSO Corporation
- Delphi Automotive Company
- NXP Semiconductors
- Texas Instruments
- Robert Bosch GmbH
- ZF Friedrichshafen
- Valeo
- Analog
Recent Insights
In recent news, BYD, China’s leading electric vehicle manufacturer, announced the inclusion of its advanced driver-assistance system, “God’s Eye,” as a standard feature in 21 of its 30 models. This system, comparable to Tesla’s Level 2+ technology, aims to enhance driving safety and convenience. However, concerns have been raised about potential driver overreliance and the system’s true capabilities, highlighting the importance of clear communication and education regarding such technologies.
In summary, the automotive radar market is poised for substantial growth, driven by technological advancements and an increasing focus on vehicle safety. While opportunities abound, addressing technical challenges and ensuring consumer acceptance remain pivotal for the market’s sustained expansion.
Market Segmentation
By Frequency
- 24 GHz
- 77 GHz
- 79GHz
By Range
- Short & Medium Range RADAR (S&MRR)
- Long Range RADAR (LRR)
By Vehicle Type
- Commercial Vehicle
- Passenger Vehicle
By Application
- Autonomous Emergency Braking (AEB)
- Adaptive Cruise Control (ACC)
- Forward Collision Warning System
- Intelligent Park Assist
- Blind Spot Detection (BSD)
- Others ADAS Applications
By Regional Outlook
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of the World
