Automotive Radar Market

The global Automotive Radar Market is valued at USD 9.97 Billion in 2023 and is projected to reach a value of USD 60.2 Billion by 2032 at a CAGR (Compound Annual Growth Rate) of 22.1% between 2024 and 2032.

Key Highlights of Automotive Radar Market

• The Asia Pacific region predominantly led the Automotive Radar market in 2023, with 36.5% of the total market share,
• In 2023, the European region is anticipated to observe the fastest growth from 2024 to 2032,
• In 2023, the Adaptive Cruise Control (ACC) segment took the lead in the market, contributing a 41.5% revenue share,
• The Passenger Car segment significantly contributed to the market’s expansion, constituting over 73.2% of the overall revenue share in 2023,
• The Short & Medium Range RADAR (S&MRR) segment dominated the market in 2023.

Automotive Radar Market: Regional Overview

The Asia Pacific Automotive Radar market exhibited significant dominance in 2023, with 36.5% of revenue share. China is the largest market for Automotive Radar within the Asia-Pacific region. Leading technology players in China are joining forces to pioneer innovative and cutting-edge Automotive Radar systems, addressing the escalating demand for sensor-equipped vehicles. ZF has partnered with SAIC in China to introduce the groundbreaking 4D Imaging Radar. ZF is equipping SAIC's R-Series electric vehicles in China with its latest generation Imaging Radar. With 192 channels offering 16 times more resolution than typical Automotive Radar, it delivers meticulous scene and object detection within 350 meters range. This marks ZF's inaugural launch of its Imaging Radar technology to SAIC Motor Corporation in China for its R-Series vehicles. Formerly recognized as Full-Range Radar, ZF's Imaging Radar captures vehicle surroundings in four dimensions, incorporating discrete height information.

U.S. Automotive Radar Market Overview

The Automotive Radar market in the United States, with a valuation of USD 0.633 Billion in 2023, is projected to reach around USD 2.3 Billion by 2032. A significant Compound Annual Growth Rate (CAGR) of 15.4% from 2024 to 2032 is projected in this forecast. Advancements in driver assistance systems and autonomous vehicle technologies drive the U.S. Automotive Radar market growth. The demand for radar sensors in the region is stimulated by increased awareness of vehicle safety and regulatory requirements. With ongoing research and development, the U.S. Automotive Radar market is poised for further expansion in the coming years.

The global Automotive Radar market can be categorized as Application, Vehicle Type, and Region.

Automotive Radar Market: Application Overview

In 2023, substantial expansion was observed in the Global Automotive Radar market within the Adaptive Cruise Control (ACC) category, commanding a revenue share of 41.5%. The Application segment is divided into Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Blind Spot Detection (BSD), Forward Collision Warning System, Intelligent Park Assist, and Others. The Adaptive Cruise Control (ACC) segment is witnessing robust growth within the Global Automotive Radar Market. In order to maintain a safe distance between vehicles and to improve driver comfort and safety, ACC, an advanced driver assistance system, relies heavily on radar technology. Increasing vehicle safety rules, increasing consumer demand for convenience features and technological developments in radars are driving the market's growth. In order to improve radar sensors' capabilities, including better accuracy and longer-range detection, manufacturers invest in research and development.

Automotive Radar Market: Vehicle Type Overview

In 2023, there was significant growth in the Passenger Car segment, over 73.2% of the market share. Based on the Vehicle Type, the Automotive Radar market is segmented into Passenger Car and Commercial Vehicles. In the global Automotive Radar market, the passenger car segment is experiencing strong growth. As more and more consumers are becoming interested in the safety features of their vehicles, manufacturers are keen on integrating Automotive Radar into passenger cars. The radar technology allows the development of advanced driver assistance systems such as collision avoidance, blind spot detection, and parking assist to increase both safety and convenience for drivers and passengers. In addition, the adoption of radar systems in passenger cars is being driven by regulatory requirements on vehicle safety standards across different regions. In the Automotive Radar market, passenger cars are forecast to maintain their upward trend as technology advances and consumers become more aware.

Key Trends

1. Advanced driver assistance systems like adaptive cruise control, automated emergency braking, and blind spot detection have become increasingly common in modern cars. To enable these systems, radar sensors are an essential component, which is driving an increasing demand for driver-focused radar technology.
2. To improve the performance in terms of range, resolution, and accuracy, Automotive Radar systems are using more frequency bands like 77 Ghz or 79 Ghz. This trend is being driven by the need for more accurate detection and identification of objects, especially when driving at high speeds.
3. Car manufacturers are integrating radar sensors in different sensing technologies, such as lidar or cameras, to enhance the capabilities of Advanced Driver Assistance Systems and Autonomous Driving. Combining the data from the sensors allows for a more complete perception and increases the overall reliability of the system.
4. Miniaturization and cost reduction of Automotive Radar systems are becoming a priority. The development of smaller, more compact radar modules, which reduce energy consumption and lower production costs, is being undertaken by manufacturers to make them suitable for mass market deployment in different vehicle segments.
5. The rapid development of radar technologies in cars is also a result of increased R&D investment by car manufacturers, technology companies, and public authorities. These investments will enhance radars' performance, reliability, and cost-effectiveness, resulting in innovation in the global automobile market.
6. Due to urbanization, infrastructure development, and increased vehicle sales in developing markets, the demand for car radars is growing globally. To meet the particular needs and preferences of individual regions, manufacturers increasingly concentrate on localizing production and developing adaptive cruise control, thus driving the demand for radars.

Premium Insights

The global Automotive Radar market is witnessing significant shifts driven by evolving safety regulations. Initiatives such as the European NCAP 2025 safety roadmap and stringent safety ratings from the US NHTSA are mandating advanced capabilities in radar sensors. These include detecting and classifying vulnerable road users like motorcycles at distances up to 200m, and operating effectively in adverse conditions. This necessitates radar sensors with extended detection ranges and elevation sensing capabilities, overcoming the limitations of camera-based systems. In response to these requirements, vehicles from the 2025 model year onwards are expected to feature multiple radar sensors. Mid-range vehicles may incorporate up to five radar sensors, strategically placed around the vehicle for comprehensive 360-degree surround sensing. Premium vehicles may deploy even more sensors, exceeding ten in some cases. Efficient management of the increased volume of sensor data and coordination among multiple sensors will be crucial.

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Market Dynamics

DENSO, the foremost mobility supplier, has unveiled its latest innovation, Global Safety Package 3, designed to elevate vehicle safety through enhanced sensing capabilities. This active safety system combines a millimeter-wave radar sensor and vision sensor, providing vehicles such as the Hino Ranger, Lexus NX, and Toyota Noah/Voxy (launched in August 2023, October 2021, and January 2022, respectively) with superior safety features. The millimeter-wave radar sensor detects road objects' shapes, while the vision sensor utilizes a camera to perceive the environment ahead. Denso's 3rd generation Global Safety Package is intended to reduce road accidents and support stressless mobility by using advanced technology at affordable prices and benefiting a wider range of vehicles.

TERAKI has chosen Infineon's AURIX™ TC4x microcontrollers to power its ML-based radar detection software, aiming to elevate accuracy and safety in ADAS and AD applications. As the demand for precise environmental sensing grows in autonomous driving systems, TERAKI's cutting-edge radar algorithms, running on Infineon's ASIL-D compliant AURIX™ TC4x chips, promise enhanced object detection while optimizing computational resources. Infineon's Marco Cassol notes that advancements like edge AI processing have driven significant improvements in Automotive Radar performance, with TERAKI's innovative algorithms further enhancing Infineon's radar capabilities through the incorporation of their unique radar algorithms into Infineon's new parallel processing unit (PPU).

Competitive Landscape

Players focus on partnerships and collaborations, mergers and acquisitions, and new product launches in the global Automotive Radar market. For instance, in 2021, HELLA solidified its position in radar technology by collaborating with a Swedish technology firm specializing in waveguide antennas. HELLA expanded its radar technology expertise for automated driving functions as a globally renowned automotive supplier. Through an exclusive licensing and development agreement with Gapwaves, a leading waveguide antenna provider listed on the NASDAQ First North Growth Market, HELLA acquired a 10% stake in the company. Gapwaves' advanced waveguide-based antennas will be integrated into HELLA's next-generation corner radar sensors operating at 77 GHz, promising improved sensor performance. Series production for a premium German automaker is scheduled to commence in 2024.

Recent Market Developments

• In January 2024, NXP Semiconductors N.V. has expanded its lineup of Automotive Radar one-chip solutions with the introduction of the SAF86xx. The new addition includes a transceiver radar, a multicore radar processor, and a MACsec hardware engine for secure data transmission over automotive ethernet.
• In 2024, Bosch Engineering is set to introduce its latest off-highway premium radar system, known as imaging radar. This advanced system, built upon the most recent automotive technology, delivers a point cloud with significantly enhanced resolution, surpassing previous generations by tenfold.
• In September 2023, Mobileye and Valeo announced a strategic partnership to introduce cutting-edge imaging radars. This collaboration will aim to deliver ADAS and automated driving functionalities in the next generation of vehicles via Software-Defined, Top-Tier Infrared Radars for Advanced Driver Assistance Systems. Mobileye and Valeo, through their combined expertise, aim to quickly introduce this exciting technology to the automotive industry worldwide to improve vehicle intelligence.
• In January 2023, NXP Semiconductors, a prominent player in Automotive Radar, has unveiled its latest innovation: the SAF85xx one-chip family. To meet the evolving needs of next-generation ADAS and autonomous driving systems, this series is based on a cutting-edge 28nm RFCMOS platform. The SAF85xx family enables tier-one suppliers and original equipment manufacturers to become more flexible by integrating NXP's advanced radar sensing and processing technologies in a single chip.

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