Automotive RADAR Market to Grow Gradually by Achieving a Valuation of USD 9.51 Billion with a CAGR of 10.5% during the Forecast Period

The automotive RADAR market size is projected to grow from USD 4.74 billion in 2023 to USD 9.51 billion by 2030. As per a report by Fortune Business Insights™ titled, “Automotive RADAR Market Size, Share & COVID-19 Impact Analysis, By Range (Short-Range Radar, Medium-Range Radar, and Long-Range Radar), By Frequency (24 Ghz and 77 Ghz), By Application (Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Forward-Collision Warning System (FCWS), Blind Spot Detection (BSD), and Intelligent Parking Assistance), and Regional Forecast, 2023-2030.” The market stood at USD 4.40 billion in 2022. It is set to exhibit a CAGR of 10.5% during 2023-2030.

Travel Regulations Hampered Market Growth During the COVID-19 Pandemic

The outbreak of the COVID-19 pandemic has resulted in stringent restrictions to mitigate the effects of the virus. The lockdown also impacted the revenue streams allocated towards R&D and implementing new technologies such as automotive RADAR.

Increasing Sales, Need & Demand for Passenger Vehicles is Anticipated to Drive the Automotive RADAR Market

Rise in Sales and Demand for Passenger Vehicles in developing countries are estimated to propel the market during the forecast period. Evolving countries like China, India, South Korea, and Japan are predicted to drive the demand for passenger vehicles, propelling the market share. Users' surging disposable income and inclination towards safe and efficient driving are estimated to drive the market growth.

Continental Introduced its Long-Range and Surround Radars to Propel Market Share

Continental has introduced its 6th generation long-range and surround radars. Both radar sensors share a software and hardware platform, declining cost and complexity. Long-range radar focuses on 360-degree environment detection and detects objects up to 250 meters.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/automotive-radar-market-101688

Key Players are Indulging in Building Advanced Radar, Partnerships, and Acquisitions to Support their Position in the Market

Various leading companies dominate the market due to their critical strategic decisions, dominance of market share, and healthy product portfolio. These consist of 4-5 key companies with a more extensive geographic presence and persistent R&D, resulting in secure regulatory approvals.

Notable Industry Development:

• October 2022: Veoneer, in partnership with Arbe, to co-develop automotive radars. Modular in design, affordable, and highly reliable, radar sensors provide both redundancy and rich data, critical for automotive-grade safety and autonomous feature deployments.

List of the Companies Profiled in the Report:

• Robert Bosch GmbH (Germany)


• Continental AG (Germany)


• Denso Corporation (Japan)


• Aptiv (Ireland)


• Autoliv Inc. (Sweden)


• Veoneer (Sweden)


• Valeo SA (France)


• NXP Semiconductors NV (Netherlands)


• Texas Instruments Incorporated (U.S.)


• ZF Friedrichshafen AG (Germany)


• Infineon Technologies AG (Germany)


• Renesas Electronics Corporation (Japan)

Further Report Findings:

• Europe dominated the market with the highest CAGR and is expected to dominate the market during the forecast period.


• Asia Pacific holds the largest market share and expected to show positive growth in the automotive RADAR market. Manufacturers in this region focus more on developing high-end applications to attract more consumers and have a leading edge over their competitors.


• North America is estimated to drive market growth during the forecast period. The adoption of sensor-based technologies is increasing in the automotive sector.

Table of Segmentation: