Automotive Radar Market by Range (Short-Range Radar, Medium-Range Radar, Long-Range Radar), by Frequency (24 Ghz, 77 Ghz), by Application (Adaptive Cruise Control (ACC), by By Geography (North America), by Europe (U.K., Germany, France, Rest of Europe), by Asia Pacific (China, Japan, India, South Korea, Rest of Asia Pacific) Forecast 2024-2032
The Automotive Radar Market size was valued at USD 4.40 USD Billion in 2023 and is projected to reach USD 8.85 USD Billion by 2032, exhibiting a CAGR of 10.5 % during the forecast period. Automotive radars are used to detect the speed or range of an object. They are made up of a transmitter and a receiver. They are classified into two categories: short-range radar and long-range radar. Automotive radars are used in various applications, including adaptive cruise control, autonomous emergency brake, blind spot detection, cascaded imaging radar, front and rear cross-traffic functions, lane change assistance, parking assist, reverse-autonomous emergency braking, etc. It is used for collision avoidance, pedestrian and cyclist detection, and detecting surrounding objects using radio waves. There are so many advantages to automotive radars, such as that they enable superior driver assistance and even autonomous driving, helping the vehicle remain aware of all the obstacles around it in real time. Ongoing advancements in radar technology, including the development of high-frequency radar, improved resolution, and enhanced signal processing algorithms, can grow the automotive radar market.
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This report provides detailed insights into the automotive radar market, including market size, market share, trends, growth drivers, challenges, and competitive landscape. It offers a comprehensive analysis of the market segments, regional markets, and key industry players, making it a valuable resource for decision-makers in the automotive industry.
The automotive radar market is expected to grow significantly in all regions, with the Asia-Pacific region being the largest contributor to the market growth. The increasing demand for vehicles with ADAS features and the growing adoption of autonomous vehicles are driving the market growth in this region.
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 10.5% from 2018-2032 |
Segmentation |
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Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 10.5% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
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