Automotive Radar Market: Driving Safety and Autonomy on the Road, Forecast – 2032

  • April 8, 2024

April 8, 2024 / Sunshine Market Research

According to the research report, the global automotive radar market was valued at USD 3.34 billion in 2023 and is expected to reach USD 8.20 billion by 2030, to grow at a CAGR of 10.5% during the forecast period.

The Automotive Radar Market serves automotive OEMs (Original Equipment Manufacturers), Tier 1 suppliers, and technology providers, offering radar sensor systems and components for integration into passenger cars, commercial vehicles, and electric vehicles. Radar technology plays a vital role in enabling features such as adaptive cruise control, blind-spot detection, collision warning, automatic emergency braking, and parking assistance.

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Growth Drivers:

  1. Increasing Focus on Vehicle Safety: Growing concern over road safety and the rising number of accidents drive the demand for advanced safety systems in vehicles. Automotive radar systems play a crucial role in detecting and mitigating collision risks by providing real-time information about the vehicle’s surroundings.
  2. Regulatory Mandates and Safety Standards: Stringent safety regulations and mandates from government agencies and automotive safety organizations propel the adoption of radar-based ADAS technologies. Regulatory initiatives such as Euro NCAP (European New Car Assessment Programme) and NHTSA (National Highway Traffic Safety Administration) ratings encourage automakers to integrate radar systems into vehicles to achieve higher safety ratings.
  3. Rapid Advancements in Autonomous Driving Technologies: The evolution of autonomous driving technologies and the pursuit of higher levels of automation drive the demand for radar sensors in vehicles. Radar systems, along with other sensors such as cameras and LiDAR, enable vehicles to perceive their surroundings, navigate complex environments, and make real-time driving decisions.

Key Components and Applications:

  1. Radar Sensors: Automotive radar systems consist of radar sensors mounted at various locations on the vehicle, such as the front grille, rear bumper, side mirrors, and corners. Radar sensors emit radio waves and measure the time it takes for the waves to reflect off nearby objects, providing data on object distance, speed, and relative motion.
  2. Adaptive Cruise Control (ACC): Radar-based adaptive cruise control systems use radar sensors to maintain a safe following distance from vehicles ahead. The radar system continuously monitors the distance and relative speed of vehicles in the same lane and automatically adjusts the vehicle’s speed to maintain a safe distance.
  3. Collision Avoidance and Emergency Braking: Radar sensors are used in collision avoidance systems and automatic emergency braking (AEB) systems to detect imminent collision risks with vehicles, pedestrians, or obstacles in the vehicle’s path. When a potential collision is detected, the system alerts the driver and may apply the brakes autonomously to avoid or mitigate the collision.

Market Segmentation:

  1. Frequency Band: Market segments include short-range radar (SRR), mid-range radar (MRR), and long-range radar (LRR) systems, each optimized for specific applications such as parking assistance, blind-spot detection, and highway cruise control.
  2. Vehicle Type: Market segments cater to passenger cars, light commercial vehicles (LCVs), heavy commercial vehicles (HCVs), and electric vehicles (EVs) with varying radar system requirements, installation locations, and sensor configurations.
  3. Geography: The market serves global regions, with variations in automotive safety regulations, consumer preferences, and adoption rates influencing the demand for radar-based ADAS technologies in different countries and regions.

Market Trends:

  1. Integration of Radar with Other Sensors: Increasing integration of radar sensors with cameras, LiDAR, and ultrasonic sensors to enhance perception capabilities, extend detection range, and improve object recognition accuracy in complex driving environments.
  2. Millimeter-Wave Radar Technology: Advancements in millimeter-wave radar technology, including higher frequency bands and improved signal processing algorithms, enable radar sensors to achieve higher resolution, accuracy, and reliability in object detection and tracking.
  3. Development of 4D Imaging Radar: Emerging 4D imaging radar technology combines radar sensors with advanced signal processing techniques to generate detailed 3D point clouds of the vehicle’s surroundings, providing richer spatial information for enhanced situational awareness and object classification.

Market Outlook:

The Automotive Radar Market is poised for significant growth, driven by factors such as increasing vehicle safety regulations, advancements in autonomous driving technologies, and rising consumer demand for advanced driver assistance features. Market expansion will be fueled by innovations in radar sensor technology, integration with other sensors, and the development of next-generation radar systems capable of supporting higher levels of automation.

Credit to: Sunshine Market Research