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Automotive Radar Market Report 2030

The automotive radar market is expected to grow at a CAGR of 24% during the forecast period of 2022 to 2030. The market reached about $ 6.5 billion in 2021. There has been a recent uptick in the installation of radar sensors in automobiles. These radar sensors employ radio frequency (RF) signals to perform a variety of safety functions. Radiofrequency (RF) technology can be used in a variety of ways to improve the safety and convenience features of modern vehicles by making driving more automated and secure. Some of these functions include blind-spot detection, adaptive cruise control, and forward collision warning. These sensors provide for accurate and speedy measurement of the distance, velocity, and direction of vehicles that are located in the surrounding area.

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When compared to a wide variety of other alternative sensors, notably visual sensors, automotive RADAR is one of the most advanced technologies since the information it provides is extremely precise and accurate. This information content includes the detection of speed and range. Automotive RADAR systems are the principal sensor for adaptive cruise controls and play an extremely significant role in the development of advanced driver assistance systems. In addition, automobile RADAR is one of the most important sensors for avoiding collisions, both with other vehicles and with pedestrians, as well as in other situations. It is projected that the global market for automotive RADAR would demonstrate a phenomenal development rate over the course of the forecast period due to the rise in demand for vehicles equipped with various safety features.

Currently, RADAR and cameras are the most common types of sensors used in automobiles. However, ultrasonic technology plays an important role in shorter distances at lower velocities, and LiDAR is utilized in autonomous driving. Because of its remarkable capabilities, RADAR has found widespread application in a variety of contexts. RADAR is able to determine the distance to an object quite accurately. Long-range RADARs for automobiles are capable of doing distance computations on targets located between 300 and 500 metres away. The use of RADAR makes it possible to obtain crucial measurements of characteristics like relative speed. As a consequence of this, at the same time, it provides a measurement for both speed and range.

Each year roughly 1.3 million individuals lose their lives in car accidents, as stated in a report published by the World Health Organization. In addition, the number of youths who die as a result of injuries sustained in car accidents is higher. A spike in demand for safety features in vehicles is being driven in part by the aforementioned issues. Automotive radar is evolving as a key technology that supports the functioning of smart and autonomous features in modern vehicles. These features include, for example, reducing driver stress, relieving drivers from repetitive tasks, and adding life-saving automatic interventions and therefore increasing safety. As a crucial application of complementary metal oxide semiconductors (CMOS) radar, automotive radar is evolving as a key technology supporting the functioning of these features. Because of these advantages, it is anticipated that the market share held by automotive radars would grow throughout the period under consideration. These high-resolution, four-dimensional automobile radars can gather information about their surroundings in all four dimensions, including distance, speed, height, and depth. A paradigm shift will be brought about in the automotive radar industry as a result of the widespread adoption of this technology, which will make the 4D automobile radar the central component of the sensor suite.

Medium-range radar retained the largest market share in 2021, and significant growth is expected during the forecast period. These systems include park assist, cross-traffic alert, and lane change assist, among others. This market is dominated by declining costs and the need to improve functionality by using more than two radars. Long-range radars are used in adaptive cruise control (ACC). ACC features in tiny and cheap automobiles are expected to boost this category’s growth.

The study includes Adaptive Cruise Control (ACC), Intelligent Park Assistance (IPA), Forward-Collision Warning System (FCWS), Blind Spot Detection (BSD), and Autonomous Emergency Braking (AEB). ACC will be the fastest expanding market during the forecast period because to its early implementation in Germany and the U.S. However, largest market share was held by blind spot detection segment in 2021. Since November 2015, the European Parliament has required vehicles to have ESC and AEBS (AEBS). All new commercial trucks above 3.5 tonnes will likely have the technology installed. Euro NCAP gives greater points to automobiles with AEB and other ADAS systems like ACC and FCW. This regulatory measure should boost RADAR-based ADAS sales.

4D radar is predicted to rise with a CAGR of 25% during the forecast period 2022 to 2030. Echolocation and time-of-flight are used in 4D radar. It maps autonomous vehicle route components. Unlike Lidar, ordinary radar, and cameras, 4D radar can estimate a vehicle’s speed in all weather and environmental conditions. It uses a large RF channel array to detect speed, distance, azimuth, and height. Fourth dimension is time, but 4D radar doesn’t map it. Time replaces height and speed. Echolocation and time-of-flight are used in 4D radar. It maps autonomous vehicle route components. Unlike Lidar, ordinary radar, and cameras, 4D radar can estimate a vehicle’s speed in all weather and environmental conditions.

North America dominated the market in 2021 as it contributed to over 30% of global revenues. It is also anticipated that North America will demonstrate significant market expansion during the forecast period. The expansion of the market in the region is driven by a number of factors, including the rising demand for hybrid vehicles and the increasing stringency of rules concerning vehicle safety. However, with economic development, Asia Pacific is going through rapid progress in the aviation sector which is expected to rise the demand for RADAR during the forecast period. Also, free trade agreements have increased the sea trade of Asian economies with other countries of the world that are further expected to influence the RADAR market in the near future. For instance, China maintains free trade agreements with 16 countries or regional groups like ASEAN. Besides, long-term enmity of countries in the region like China with India and other ASEAN countries, there is rapid modernization of the military with escalating defense spending which will further boost the RADAR market in the region. Recently, in June 2021, China developed a new high-frequency surface wave radar that can detect stealth aircraft like F-35 and also anti-radiation missiles that are hidden from other early warning systems. Countries like Germany and the United Kingdom were among the first in Europe to embrace innovative technology that provides drivers with help. This is one factor that distinguishes the European market. In addition, the government’s implementation of more rigorous regulations on car safety in comparison to regulations in other regions is projected to encourage the market for more modern radar-based systems. For example, beginning in the year 2020 and going forward, Euro NCAP will be evaluating the functionality of AEB car-to-car systems. To accomplish this goal, the organization has devised a specially built testing method called as the Global Vehicle Target. Consequently, the large expansion of the market in this region can be attributed to the aforementioned factors.

Leading automotive manufacturers are concentrating their efforts on the production of next-generation automobiles that will be fitted with as many as ten radar sensors. This offers a 360-degree surround-view, which is required for semi-autonomous operation as well as improved driver assistance. As a result, the increase in research and development in the field of these radar systems can be attributed to the demand from the automotive sector for multi-functional systems. Building sensors with proprietary chipset technology and research capabilities for optimal automotive radar performance might provide market rivals with an advantage in terms of pricing. This would allow them to build a foothold in the market. The overall radar market is moderately fragmented and companies are improving its current technology for expanding its global market share. Dominant players in this segment include Robert Bosch GmbH, NXP Semiconductors, Continental AG, and Autoliv Inc. Due to the increased number of electrical components that are being incorporated into automobiles, it is becoming increasingly difficult to integrate radar. As a result, numerous industry participants are concentrating their efforts largely on the development of solutions that are both compact and high-performing. Geographic expansion is the most adopted strategy among the market players to enhance their market presence. Other key players on this market include Analog Devices, Inc., BorgWarner Inc., DENSO Corporation, Texas Instruments, Valeo, Veoneer Inc., ZF Friedrichshafen AG, and others.

Key Market Trends

  • The automotive radar market is expected to grow at a CAGR of 24% during the forecast period of 2022 to 2030. The market reached about $ 6.5 billion in 2021.
  • Medium-range radar retained the largest market share in 2021, and significant growth is expected during the forecast period.
  • ACC will be the fastest expanding market during the forecast period.
  • 4D radar is predicted to rise with a CAGR of 25% during the forecast period 2022 to 2030.
  • Largest market share was held by blind spot detection segment in 2021.
  • North America dominated the market in 2021 as it contributed to over 30% of global revenues.
  • The overall radar market is moderately fragmented
  • Dominant players in this segment include Robert Bosch GmbH, NXP Semiconductors, Continental AG, and Autoliv Inc.
  • Geographic expansion is the most adopted strategy among the market players to enhance their market presence.
  • Other key players on this market include Analog Devices, Inc., BorgWarner Inc., DENSO Corporation, Texas Instruments, Valeo, Veoneer Inc., ZF Friedrichshafen AG, and others.

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