Automotive RADAR Market Size, Share, and Trends 2024 to 2034

Automotive RADAR Market Size and Companies

The global automotive RADAR market size accounted for USD 18.04 billion in 2024 and is predicted to reach around USD 298.86 billion by 2034 growing at a CAGR  of 35% from 2024 to 2034.

Automotive RADAR Market Key Takeaways

• Asia Pacific led the global market with the highest market share in 2023.
• Europe is predicted to expand at the fastest CAGR during the forecast period.
• By Range, the Short & Medium Range RADAR (S&MRR) segment has held the largest market share in 2023.
• By Application, the intelligent park assist segment generated over 52% of revenue share in 2023.
• By Application, the adaptive cruise control (ACC) segment is expected to expand at the fastest CAGR over the projected period.

Automotive RADAR Market Growth Factors

Factors such as rising demand for confortable driving along with incorporated safety features in the vehicle drive the market growth significantly. Increasing demand for vehicle safety features such as collision avoidance systems, parking assistance, traction control, lane departure warnings, tire pressure monitors, airbags, electronic stability control, and telematics is mainly due significant growth in number of accidents. For the same, governing bodies in some regions have imposed strict rules and regulations for the implementation of advanced safety features in the autonomous and semi-autonomous vehicles are projected to propel the market growth. For instance, National Highway Traffic Safety Administration (NHTSA) has imposed strict regulations on the vehicle safety such as air brake systems, and air bag deactivation. Similarly, European Union has regulated the use of short range radar in automotive application. As per the regulation the 79 GHz radio spectrum means the frequency range between 77 and 81 GHz.

However, high cost of devices and solutions installation restricts the growth of automotive RADAR as it increases the overall cost of the vehicle. Besides this, introduction to Advanced Driver Assistance System (ADAS) expected to propel the market growth during the forecast period. Technological advancements and innovation in ADAS are the prime factors that attracts large consumer base owing to the benefits offered by the system.

Asia Pacific Automotive RADAR Market Size and Growth 2024 To 2034

The Asia Pacific automotive RADAR market size was valued at USD 5.48 billion in 2023 and is expected to be worth around USD 122.53 billion by 2034, growing at a CAGR of 33% from 2024 to 2034.

In 2022, the Asia Pacific dominated the global automotive RADAR market and expected to flourish prominently in the coming years owing to increased purchasing power coupled with green revolution transforming the mobility in the region. China, India, South Korea, and Japan are some of the Asian countries that significantly adopt the smart mobility solution for enhancing vehicle safety and reducing pollution in the environment.

On the other hand, Europe exhibits lucrative growth over the forecast period. The significant growth of the region is mainly due to government initiatives taken in Germany, UK, and other European countries for green and smart mobility. The government in the region aimed to reduce the air pollution along with number of accident cases. For the same, incentives to the public for adoption of electric and smart mobility triggered the growth of electric and hybrid vehicles in the region. Presently, electric vehicles are the most prominent application of advanced vehicle safety solutions and devices.

Automotive RADAR Market Scope

Range Insights

Short & Medium Range RADAR (S&MRR) held the largest revenue share in the global automotive RADAR market in the year 2023 and analyzed to grow at the fastest rate in the coming years. These radars are prominently used in the vehicle safety system. The S&MRR system offers various benefits such as lane change assist, blind spot detection, and park assist. Declining prices along with need to implement more than two RADARs per vehicle to enhance the safety are likely to accelerate the segment growth prominently in the coming years.

Application Insights

Intelligent park assist application is the major revenue contributor accounting to nearly 52% of the overall market revenue in the year 2023. Increasing demand for parking assistance to avoid back side collision boosts the demand for parking sensors. The smart driver assistance systems are very common in advanced and electric vehicles; however, parking sensors can be installed externally in the running vehicles to enhance its features. This attributed to the segment’s lucrative growth in the past few years.

On the other hand, adaptive cruise control (ACC) poised to grow at a prominent rate over the analysis period owing to widespread adoption in significant automotive markets such as Germany, U.S., UK, and China among others. In addition, it offers prominent benefits in vehicle safety and level of automation in vehicle. National Transport Safety Board, U.S. has incorporated the ACC systems in its ten most rated safety improvements for vehicle. Similarly, Europe, has also considered ACC system under mandatory safety solutions for advanced vehicle safety.

Key Companies & Market Share Insights

The global automotive RADAR market has large number of international and regional players operating globally; however, some of the top players lead the market revenue in 2022. Increased focus of industry participants on developing high-performance RADAR systems for automotive application is changing the face of market competition. In addition, companies also invest significantly in the research & development sector to develop attractive solution and gain strategic benefits over the competitors. For instance, in October 2016, Robert Bosch introduced Tesla Model S self-driving prototype. It was the first self-driving car developed in Australia. The self-driving car comprises one stereo video camera, six laser sensors (LiDAR), six RADARs, and one high precision GPS.

Automotive RADAR Market Companies

• Continental AG
• Autoliv Inc.
• DENSO Corporation
• Delphi Automotive Company
• NXP Semiconductors
• Texas Instruments
• Robert Bosch GmbH
• ZF Friedrichshafen
• Valeo
• Analog

Segments Covered in the Report

This research report includes complete assessment of the market with the help of extensive qualitative and quantitative insights, and projections regarding the market. This report offers breakdown of market into prospective and niche sectors. Further, this research study calculates market revenue and its growth trend at global, regional, and country from 2020 to 2032. This report includes global automotive RADAR market segmentation and its revenue estimation by classifying iton the basis of frequency, range, vehicle type, application, and region:

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