Automotive Radar Market Analysis Report (2023-2028)

Market Insights

"The global automotive radar market size was estimated at USD 4.48 billion in 2022 and is likely to grow at a CAGR of 21.48% during 2023-2028 to reach USD 14.4 billion in 2028."

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Automotive RADAR systems are the primary sensor adaptive cruise control systems and play a critical role in advanced driver assistance. Furthermore, automotive RADAR is an important sensor for accident prevention, vehicle and pedestrian avoidance, and other applications.

Market Dynamics

Market Drivers

The market is being propelled by a growing focus on active safety features, advances in radar technology, lower component prices, and increased vehicle sales. Radars are used in a variety of safety systems, such as adaptive cruise control, pedestrian identification, blind spot detection, and automated emergency braking, to detect objects.

Segment Analysis

Application Trends

"The parking assistance segment accounted for the largest market share."

The market is segmented as Adaptive Cruise Control (ACC), Blind Spot Detection (BSD), Lane Departure Warning System (LDWS), Parking Assistance (PA) and Forward Collision Warning System (FCWS). Due to the rising automotive uses of radar technology, such as parking assistance, guiding, and reverse warnings, the parking assistance segment will increase at a CAGR of over 15% during the forecast period. While parking, the parking sensors notify drivers to potential impediments in real time. The parking manoeuvre is calculated by proximity sensors as soon as the driver activates the radar park assistant.

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Regional Insights

"Asia-Pacific accounted for the largest market share."

The expanding initiatives and investments in the automotive sector, as well as an increase in the number of vehicle accidents, is propelling the Asia-Pacific’s automotive radar market. It is estimated that around 35 cities in China have around 1 million cars on the road, causing traffic congestion and accidents on 75 percent of the roadways. Automobile radar sensors, which direct the driver along the path, are being used by automobile makers to assure vehicle and driver safety. Companies in the industry are promoting their next-generation transportation technology in order to reduce traffic congestion and improve overall transportation convenience.

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Critical Questions Answered in the Report

• What are the key trends in the global market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the global market?
• What are the key strategies adopted by the major vendors to lead in the market?
• What is the market share of the top vendors?

Key Players

The following are the key players in the automotive radar market (arranged alphabetically).

• Analog Devices
• Autoliv
• Continental
• Delphi Automotive LLP
• Denso Corporation
• Fujitsu
• Infineon Technologies
• Next eXPerience
• Robert Bosch
• STMicroelectronics.

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

Report Features

This report provides intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the dynamics and will enable strategic decision making for the existing players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

The market is segmented into the following categories.

By Application Type

• Adaptive Cruise Control (ACC)
• Blind Spot Detection (BSD)
• Lane Departure Warning System (LDWS)
• Parking Assistance (PA)
• Forward Collision Warning System (FCWS)

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s automotive radar market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Option

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.