Summary

The global automotive radar market is projected to grow from USD 6.6 Billion in 2024 to USD 33.6 Billion by 2030, registering a CAGR of 31.1%. The automotive sector is experiencing a notable shift from focusing solely on vehicle performance and efficiency to prioritizing safety and convenience. With growing consumer awareness and increasing government mandates regarding active safety measures, there is a rising demand for driver-assisting applications like lane departure warning, lane keep assist, rear park assist, and blind-spot detection. These enhanced features can detect driver drowsiness and alertness, reducing road accidents and mishaps. As automotive radar systems evolve and integrate with AI-driven technologies, they are poised to play a pivotal role in shaping the future of vehicle safety and driving experiences.

“By frequency, 7X-GHz will grow at the highest CAGR during the forecast period.”
By frequency, the 7X-GHz segment is expected to grow at highest CAGR during the forecast period. The 7X-GHz frequency band, comprising 77 GHz and 79 GHz frequencies in automotive radar, represents a significant advancement in radar technology, offering high-resolution, long-range sensing capabilities essential for modern driver assistance systems and autonomous driving features. These frequencies are part of the mmWave spectrum, providing radar systems with finer detail and improved accuracy compared to lower-frequency bands like the 24 GHz band. Moreover, manufacturers are launching new radar systems. For instance, in January 2024, Texas Instruments (US) launched new radar sensor chips designed to create smarter and safer vehicles. The AWR2544 77GHz mmWave, radar sensor chip, enhances autonomy by improving sensor fusion and decision-making in ADAS. Such development will accelerate the market growth in the forecast period.
“Medium-range radar hold the prominent share in the range segment.”
Medium-range automotive radar (MRR) systems are essential to modern vehicle safety and driver assistance technologies. MRR systems offer good resolution and accuracy and can detect and track multiple objects simultaneously. This capability is crucial for making informed decisions in complex driving scenarios, such as navigating through intersections or overtaking other vehicles on the highway. Their balanced detection range and versatility make them indispensable for a wide range of ADAS features, significantly improving vehicle safety, efficiency, and driver comfort. As automotive technology continues to advance, the adoption and integration of medium-range radar systems are expected to grow, further enhancing the capabilities of modern vehicles.

“Asia Pacific to be the largest growing market for automotive radar during the forecast period.”
The Asia Pacific market is estimated to be the largest growing market during the forecast period. The market growth in Asia Pacific can be attributed to the high vehicle production and use of advanced electronics in Japan, South Korea, and China. These countries' governments have recognized the automotive sector's growth potential and consequently undertaken various initiatives to encourage major OEMs to enter their domestic markets. Several European and US automobile manufacturers, such as Volkswagen AG (Germany), Mercedes Benz (Germany), and General Motors (US), have shifted their production plants to emerging economies in Asia Pacific. Major automotive radar providers such as Robert Bosch GmbH, Continental AG, Aptiv (Ireland), and Denso Corporation (Japan) have production facilities across the region. In March 2023, Aptiv Investment Co., Ltd. announced opening of a connection system engineering center in Wuhan, China. Such development will drive the Asia Pacific market during the forecast period.

In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.
• By Respondent Type: OEMs – 34%, Tier 1 – 41%, and Others – 25%,
• By Designation: CXO’s– 35%, Managers– 49%, and Executives– 16%
• By Region: North America – 24%, Europe – 37%, Asia Pacific– 32%, Rest of the World – 7%
The automotive radar market is primarily dominated by globally recognized players such as Robert Bosch GmbH (Germany), Continental AG (Germany), Aptiv (Ireland), Denso Corporation (Japan), and NXP Semiconductors (Netherlands). These companies manufacture automotive radar and develop new technologies. These companies have set up R&D facilities and offer best-in-class products to their customers.
Research Coverage:
The Market Study Covers the Automotive Radar Market By Range (Short-range Radar, Medium-range Radar, Long-range Radar), By Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle), By Frequency (2X-GHz and 7X-GHz), By Propulsion (ICE and Electric), By Application [Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Blind Spot Detection (BSD), Forward Collision Warning System (FCWS), Intelligent Parking Assistance (IPA), Cross Traffic Alert (CTA), Lane Departure Warning System (LDW) And Traffic Jam Assist (TJA)] and By Region (North America, Europe, Asia Pacific, and the Rest of the World). It also covers the competitive landscape and company profiles of the major automotive radar market ecosystem players.

Key Benefits of the Report
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall automotive radar market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:
• Analysis of key drivers (Increasing consumer demand for ADAS, Doppler frequency shift, Advancements in radar technology), restraints (Inability to distinguish multiple targets, Different climate conditions), opportunities (Growing push for autonomous vehicles, Potential for innovative business models, 4D imaging radar, Signal interference), and challenges (Competition from alternate technologies, Fluctuating raw material prices and supply chain disruptions) influencing the growth of the automotive radar market.
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the automotive radar market
• Market Development: Comprehensive information about lucrative markets – the report analyses the automotive radar market across varied regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the automotive radar market
• Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Robert Bosch GmbH (Germany), Continental AG (Germany), Aptiv (Ireland), Denso Corporation (Japan), NXP Semiconductors (Netherlands), and among others in the automotive radar market Page 25 of 34 strategies. The report also helps stakeholders understand the pulse of the ADAS market and provides them with information on key market drivers, restraints, challenges, and opportunities.

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Table of Contents

1 INTRODUCTION 26
1.1 STUDY OBJECTIVES 26
1.2 MARKET DEFINITION 27
1.2.1 INCLUSIONS AND EXCLUSIONS 30
1.3 STUDY SCOPE 31
1.3.1 SEGMENTS COVERED 31
1.3.2 REGIONS COVERED 31
1.3.3 YEARS CONSIDERED 32
1.3.4 CURRENCY CONSIDERED 32
1.3.5 UNITS CONSIDERED 33
1.4 STAKEHOLDERS 33
1.5 SUMMARY OF CHANGES 33
2 RESEARCH METHODOLOGY 35
2.1 RESEARCH DATA 35
2.1.1 SECONDARY DATA 36
2.1.1.1 List of key secondary sources 37
2.1.1.2 Key data from secondary sources 38
2.1.2 PRIMARY DATA 39
2.1.2.1 Primary interviews: demand and supply sides 39
2.1.2.2 Primary participants 40
2.1.2.3 Objectives of primary research 40
2.2 MARKET SIZE ESTIMATION 40
2.2.1 BOTTOM-UP APPROACH 42
2.2.2 TOP-DOWN APPROACH 43
2.3 RECESSION IMPACT ANALYSIS 43
2.4 DATA TRIANGULATION 44
2.5 FACTOR ANALYSIS 46
2.5.1 DEMAND- AND SUPPLY-SIDE FACTOR ANALYSIS 46
2.6 RESEARCH ASSUMPTIONS 46
2.7 RESEARCH LIMITATIONS 47
2.8 RISK ANALYSIS 48
3 EXECUTIVE SUMMARY 49
4 PREMIUM INSIGHTS 53
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN AUTOMOTIVE RADAR MARKET 53
4.2 AUTOMOTIVE RADAR MARKET, BY RANGE 53
4.3 AUTOMOTIVE RADAR MARKET, BY VEHICLE TYPE 54
4.4 AUTOMOTIVE RADAR MARKET, BY FREQUENCY 54
4.5 AUTOMOTIVE RADAR MARKET, BY PROPULSION 55
4.6 AUTOMOTIVE RADAR MARKET, BY REGION 55
5 MARKET OVERVIEW 56
5.1 INTRODUCTION 56
5.2 TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS 57
5.3 MARKET DYNAMICS 58
5.3.1 DRIVERS 59
5.3.1.1 Increasing consumer demand for ADAS in vehicles 59
5.3.1.2 Doppler frequency shift 59
5.3.1.3 Advancements in radar technology 60
5.3.2 RESTRAINTS 61
5.3.2.1 Inability to distinguish multiple targets 61
5.3.2.2 Different climate conditions 61
5.3.3 OPPORTUNITIES 61
5.3.3.1 Growing push for autonomous vehicles 61
5.3.3.2 Potential for innovative business models 62
5.3.3.3 4D imaging radar 63
5.3.3.4 Signal interference 64
5.3.4 CHALLENGES 64
5.3.4.1 Competition from alternate technologies 64
5.3.4.2 Fluctuating raw material prices and supply chain disruptions 65
5.4 PRICING ANALYSIS 66
5.4.1 AVERAGE SELLING PRICE TREND, BY RANGE, 2021–2023 67
5.4.2 AVERAGE SELLING PRICE TREND, BY REGION, 2021–2023 67
5.5 ECOSYSTEM ANALYSIS 68
5.6 SUPPLY CHAIN ANALYSIS 70
5.7 CASE STUDY ANALYSIS 71
5.7.1 NXP'S ADVANCED AUTOMOTIVE RADAR SOCS FOR ENHANCED ADAS 71
5.7.2 AUTOMOTIVE SYNTHETIC APERTURE RADAR BY ROBERT BOSCH 71
5.7.3 ADAS TESTING ENHANCEMENT WITH VIRTUAL AND HARDWARE-IN-THE-LOOP SYSTEMS 72
5.8 INVESTMENT AND FUNDING SCENARIO 72
5.9 PATENT ANALYSIS 74
5.9.1 INTRODUCTION 74
5.9.2 TOP PATENT APPLICANTS 74
5.10 TECHNOLOGY ANALYSIS 76
5.10.1 KEY TECHNOLOGIES 76
5.10.1.1 Multi-radar systems 76
5.10.1.1.1 Functions of multi-radar systems 77
 
5.10.1.2 AI-integrated radar 77
5.10.1.3 Radar systems for autonomous vehicles 77
5.10.2 COMPLEMENTARY TECHNOLOGIES 79
5.10.2.1 Sub-Terahertz radar 79
5.10.3 ADJACENT TECHNOLOGIES 80
5.10.3.1 Impact of 5G network on machine-to-machine communication 80
5.11 HS CODE ANALYSIS 81
5.11.1 IMPORT/EXPORT SCENARIO (HS CODE 900211) 81
5.12 WHO SUPPLIES WHOM ANALYSIS 82
5.13 REGULATORY LANDSCAPE 84
5.13.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 85
5.13.1.1 North America: Regulatory bodies, government agencies,
and other organizations 85
5.13.1.2 Europe: Regulatory bodies, government agencies,
and other organizations 87
5.13.1.3 Asia Pacific: Regulatory bodies, government agencies,
and other organizations 88
5.14 KEY CONFERENCES AND EVENTS 89
5.15 KEY STAKEHOLDERS AND BUYING CRITERIA 89
5.15.1 KEY STAKEHOLDERS IN BUYING PROCESS 89
5.15.2 BUYING CRITERIA 91
6 AUTOMOTIVE RADAR MARKET, BY APPLICATION 93
6.1 INTRODUCTION 93
6.2 ADAPTIVE CRUISE CONTROL 94
6.3 AUTOMATIC EMERGENCY BRAKING 95
6.4 BLIND SPOT DETECTION 96
6.5 FORWARD COLLISION WARNING SYSTEM 97
6.6 INTELLIGENT PARKING ASSISTANCE 98
6.7 CROSS TRAFFIC ALERT 99
6.8 LANE DEPARTURE WARNING SYSTEM 100
6.9 TRAFFIC JAM ASSIST 101
7 AUTOMOTIVE RADAR MARKET, BY FREQUENCY 102
7.1 INTRODUCTION 103
7.2 2X-GHZ 105
7.2.1 COST ADVANTAGE TO DRIVE MARKET IN MID-RANGE AND ENTRY-LEVEL VEHICLES 105
7.3 7X-GHZ SYSTEM 108
7.3.1 ADVANCEMENTS IN ADAS AND AUTONOMOUS DRIVING TO DRIVE MARKET 108
7.4 KEY PRIMARY INSIGHTS 110
 
8 AUTOMOTIVE RADAR MARKET, BY PROPULSION 111
8.1 INTRODUCTION 112
8.2 ICE 114
8.2.1 GOVERNMENT REGULATIONS FOCUSING ON IMPROVED VEHICLE SAFETY TO DRIVE MARKET 114
8.3 ELECTRIC 116
8.3.1 PUSH FOR AUTONOMOUS AND SEMI-AUTONOMOUS TECHNOLOGIES TO DRIVE MARKET 116
8.4 KEY PRIMARY INSIGHTS 118
9 AUTOMOTIVE RADAR MARKET, BY RANGE 119
9.1 INTRODUCTION 120
9.2 SHORT-RANGE RADAR 123
9.2.1 QUICK AND ACCURATE RESPONSES TO ENHANCE SAFETY TO DRIVE MARKET 123
9.3 MEDIUM-RANGE RADAR 125
9.3.1 BALANCE BETWEEN CLOSE-RANGE PRECISION OF SHORT-RANGE RADAR AND EXTENDED REACH OF LONG-RANGE RADAR TO DRIVE MARKET 125
9.4 LONG-RANGE RADAR 127
9.4.1 GROWING USE FOR AUTOMATIC EMERGENCY BRAKING AND FORWARD COLLISION WARNING TO DRIVE MARKET 127
9.5 KEY PRIMARY INSIGHTS 129
10 AUTOMOTIVE RADAR MARKET, BY VEHICLE TYPE 130
10.1 INTRODUCTION 131
10.2 PASSENGER CAR 133
10.2.1 RISING DEMAND FOR ADVANCED SAFETY FEATURES IN PASSENGER CARS TO DRIVE MARKET 133
10.3 LIGHT COMMERCIAL VEHICLE 135
10.3.1 INCREASING INTEGRATION OF ADAS IN LIGHT COMMERCIAL VEHICLES TO DRIVE MARKET 135
10.4 HEAVY COMMERCIAL VEHICLE 137
10.4.1 GROWING NEED FOR IMPROVED DRIVER VISIBILITY ON BLIND SPOTS TO DRIVE MARKET 137
10.5 KEY PRIMARY INSIGHTS 139
11 AUTOMOTIVE RADAR MARKET, BY REGION 140
11.1 INTRODUCTION 141
11.2 ASIA PACIFIC 144
11.2.1 RECESSION IMPACT ANALYSIS 144
11.2.2 CHINA 147
11.2.2.1 Increasing demand for ADAS features in passenger cars to drive market 147
 
11.2.3 JAPAN 149
11.2.3.1 Government initiatives to enhance ADAS features to drive market 149
11.2.4 INDIA 150
11.2.4.1 Focus on affordable safety solutions and technologies to drive market 150
11.2.5 SOUTH KOREA 152
11.2.5.1 Introduction of new vehicle models with ADAS to drive market 152
11.2.6 THAILAND 153
11.2.6.1 Increasing demand for electric vehicles to drive the market 153
11.2.7 INDONESIA 155
11.2.7.1 Government support for electrification of light commercial vehicles to drive market 155
11.2.8 REST OF ASIA PACIFIC 157
11.3 EUROPE 158
11.3.1 RECESSION IMPACT ANALYSIS 159
11.3.2 FRANCE 161
11.3.2.1 Stright government policies for vehicle and passenger safety
to drive market 161
11.3.3 GERMANY 163
11.3.3.1 Growing sales of luxury vehicles with advance safety features
to drive market 163
11.3.4 SPAIN 165
11.3.4.1 Collaboration between OEMs and technology firms to drive market 165
11.3.5 UK 166
11.3.5.1 Focus on innovation and high-tech manufacturing to drive market 166
11.3.6 RUSSIA 168
11.3.6.1 Growth of ADAS adoption in compact car models to drive market 168
11.3.7 TURKIYE 169
11.3.7.1 Government support to modernize automotive sector to drive market 169
11.3.8 REST OF EUROPE 171
11.4 NORTH AMERICA 172
11.4.1 RECESSION IMPACT ANALYSIS 173
11.4.2 US 175
11.4.2.1 Growing integration of high-quality radar across various vehicle segments to drive market 175
11.4.3 CANADA 176
11.4.3.1 Strong consumer demand for vehicles with advanced features to drive market 176
11.4.4 MEXICO 178
11.4.4.1 Key exporter of vehicles with stringent safety standards to drive market 178
 
11.5 REST OF THE WORLD 179
11.5.1 RECESSION IMPACT ANALYSIS 179
11.5.2 BRAZIL 181
11.5.2.1 Presence of key automotive sector players to drive market 181
11.5.3 IRAN 183
11.5.3.1 Partnerships between international automakers and local companies to drive market 183
11.5.4 OTHERS 184
12 COMPETITIVE LANDSCAPE 186
12.1 INTRODUCTION 186
12.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 186
12.3 MARKET SHARE ANALYSIS, 2023 189
12.3.1 ROBERT BOSCH GMBH 190
12.3.2 CONTINENTAL AG 190
12.3.3 APTIV 190
12.3.4 DENSO CORPORATION 190
12.3.5 NXP SEMICONDUCTORS 191
12.4 REVENUE ANALYSIS, 2019–2023 191
12.5 COMPANY VALUATION AND FINANCIAL METRICS 191
12.5.1 COMPANY VALUATION 191
12.5.2 FINANCIAL METRICS 192
12.6 BRAND/PRODUCT COMPARISON 193
12.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 194
12.7.1 STARS 194
12.7.2 EMERGING LEADERS 194
12.7.3 PERVASIVE PLAYERS 194
12.7.4 PARTICIPANTS 194
12.7.4.1 Company footprint 196
12.8 COMPANY EVALUATION MATRIX: START-UP/SMES, 2024 197
12.8.1 PROGRESSIVE COMPANIES 197
12.8.2 RESPONSIVE COMPANIES 197
12.8.3 DYNAMIC COMPANIES 197
12.8.4 STARTING BLOCKS 198
12.9 COMPETITIVE BENCHMARKING 199
12.10 COMPETITIVE SCENARIOS AND TRENDS 200
12.10.1 PRODUCT LAUNCHES 201
12.10.2 DEALS 203
12.10.3 EXPANSIONS 206
12.10.4 OTHER DEVELOPMENTS 207
 
13 COMPANY PROFILES 208
13.1 KEY PLAYERS 208
13.1.1 ROBERT BOSCH GMBH 208
13.1.1.1 Business overview 208
13.1.1.2 Products offered 209
13.1.1.3 Recent developments 210
13.1.1.4 Others 211
13.1.1.5 MnM view 212
13.1.1.5.1 Key strengths 212
13.1.1.5.2 Strategic choices 212
13.1.1.5.3 Weaknesses and competitive threats 212
13.1.2 CONTINENTAL AG 213
13.1.2.1 Business overview 213
13.1.2.2 Products offered 215
13.1.2.3 Recent developments 216
13.1.2.4 MnM view 218
13.1.2.4.1 Key strengths 218
13.1.2.4.2 Strategic choices 218
13.1.2.4.3 Weaknesses and competitive threats 218
13.1.3 APTIV 219
13.1.3.1 Business overview 219
13.1.3.2 Products offered 220
13.1.3.3 Recent developments 221
13.1.3.4 MnM view 222
13.1.3.4.1 Key strengths 222
13.1.3.4.2 Strategic choices 223
13.1.3.4.3 Weaknesses and competitive threats 223
13.1.4 DENSO CORPORATION 224
13.1.4.1 Business overview 224
13.1.4.2 Products offered 225
13.1.4.3 Recent developments 226
13.1.4.4 MnM view 227
13.1.4.4.1 Key strengths 227
13.1.4.4.2 Strategic choices 227
13.1.4.4.3 Weaknesses and competitive threats 227
13.1.5 NXP SEMICONDUCTORS 228
13.1.5.1 Business overview 228
13.1.5.2 Products offered 230
13.1.5.3 Recent developments 230
13.1.5.4 Deals 231
 
13.1.5.5 MnM view 232
13.1.5.5.1 Key strengths 232
13.1.5.5.2 Strategic choices 232
13.1.5.5.3 Weaknesses and competitive threats 232
13.1.6 INFINEON TECHNOLOGIES AG 233
13.1.6.1 Business overview 233
13.1.6.2 Products offered 234
13.1.6.3 Recent developments 235
13.1.7 VALEO 236
13.1.7.1 Business overview 236
13.1.7.2 Products offered 238
13.1.7.3 Recent developments 238
13.1.8 ZF FRIEDRICHSHAFEN AG 240
13.1.8.1 Business overview 240
13.1.8.2 Products offered 241
13.1.8.3 Recent developments 242
13.1.9 TEXAS INSTRUMENTS INCORPORATED 244
13.1.9.1 Business overview 244
13.1.9.2 Products offered 245
13.1.9.3 Recent developments 246
13.1.10 VEONEER 247
13.1.10.1 Business overview 247
13.1.10.2 Products offered 248
13.1.10.3 Recent developments 249
13.1.11 MAGNA INTERNATIONAL INC. 251
13.1.11.1 Business overview 251
13.1.11.2 Products offered 252
13.1.11.3 Recent developments 252
13.1.12 RENESAS ELECTRONICS CORPORATION 254
13.1.12.1 Business overview 254
13.1.12.2 Products offered 255
13.1.12.3 Recent developments 255
13.2 OTHER PLAYERS 257
13.2.1 HL KLEMOVE 257
13.2.2 AMBARELLA INTERNATIONAL LP 258
13.2.3 HITACHI ASTEMO, LTD. 259
13.2.4 KYOCERA CORPORATION 260
13.2.5 SAMSUNG ELECTRO-MECHANICS 261
13.2.6 HYUNDAI MOBIS 262
13.2.7 STONKAM CO., LTD. 263
13.2.8 BRIGADE ELECTRONICS GROUP PLC 263
 
13.2.9 LG ELECTRONICS 264
13.2.10 VAYYAR AUTOMOTIVE 264
13.2.11 STMICROELECTRONICS 265
13.2.12 NOVELIC 265
13.2.13 HUAWEI TECHNOLOGIES CO., LTD. 266
13.2.14 HELLA GMBH & CO. KGAA 267
14 RECOMMENDATIONS BY MARKETSANDMARKETS 268
14.1 EUROPE TO BE PROMINENT MARKET FOR AUTOMOTIVE RADAR 268
14.2 TECHNICAL ADVANCEMENTS IN RADAR TECHNOLOGY TO DRIVE AUTONOMOUS VEHICLE INNOVATION 268
14.3 GROWING DEMAND FOR ADVANCED DRIVER ASSISTANCE SYSTEMS TO AUTOMOTIVE RADAR MARKET 269
14.4 CONCLUSION 270
15 APPENDIX 271
15.1 KEY INSIGHTS OF INDUSTRY EXPERTS 271
15.2 DISCUSSION GUIDE 271
15.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 274
15.4 CUSTOMIZATION OPTIONS 276
15.4.1 ADDITIONAL COMPANY PROFILES UP TO 5 276
15.4.2 AUTOMOTIVE RADAR MARKET BY TYPE AT COUNTRY LEVEL 276
15.4.3 AUTOMOTIVE RADAR MARKET BY FREQUENCY AT COUNTRY LEVEL 276
15.5 RELATED REPORTS 276
15.6 AUTHOR DETAILS 277