Automotive Radar Market Upcoming Demands & Growth Analysis 2030

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Road accidents carry an annual mortality of 1.35 million, says the World Health Organization (WHO). Often, while driving, people don’t pay attention on the road or they drive at a higher speed than allowed. Pedestrians are to blame for a lot of the road accidents too, as many of them cross the road without looking both ways or while looking at or talking on the phone. To bring down the accident rate, several countries have made it mandatory for vehicles to have advanced driver-assistance systems (ADAS), which help the driver in more ways than one.

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With the increasing installation of ADAS features in vehicles, the automotive radar market is predicted to grow at an 8.4% CAGR during 2020–2030, from $5,839.0 million in 2019. This is because ADAS depends on radars to determine the distance of various objects in the vehicle’s way, such as automobiles in the front and back, pedestrians on the road, or road blockages and stop signs. With time, the penetration of autonomous vehicles is also expected to increase, which would be even more dependent on radars. A large number of such automobiles are expected to be pressed in shared mobility services, thereby creating a high demand for radars.

Hence, with the rising deployment of self-driving vehicles and integration of safety features in conventional automobiles, the requirement for radars will keep mushrooming.

Market Segmentation by Vehicle Autonomy

  • Semi-Autonomous
    • Level 1
    • Level 2
    • Level 3
  • Fully Autonomous
    • Level 4
    • Level 5

Market Segmentation by Range

  • Short & Medium
  • Long

Market Segmentation by Vehicle Type

  • Passenger Car
  • Commercial Vehicle

Market Segmentation by Application

  • Adaptive Cruise Control (ACC)
  • Autonomous Emergency Braking (AEB)
  • Blind Spot Detection (BSD)
  • Forward Collision Warning (FCW)
  • Intelligent Park Assist (IPA)
  • Others

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This study covers          

  • Historical and the present size of the Automotive RADAR Market
  • Future potential of the market through its forecast for the period 2020– 2030
  • Major factors driving the market and their impact during the short, medium, and long terms
  • Market restraints and their impact during the short, medium, and long terms
  • Recent trends and evolving opportunities for the market participants
  • Historical and the present size of the market segments and understand their comparative future potential
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