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The automotive radar sensors market size is forecast to increase by USD 6.51 billion at a CAGR of 14.01% between 2023 and 2028. Market growth is driven by various factors, including the availability of high-frequency radar sensors, the increasing shift toward solid-state radar technology, and the integration of radar sensors with other sensor technologies. These elements collectively contribute to shaping market dynamics, reflecting the ongoing technological advancements in radar systems and technology. With a focus on improved performance and versatility, the market anticipates continued growth driven by the expanding applications and capabilities of sensors in various industries.
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The automotive radar sensors market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in USD Billion for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The medium-range segment is estimated to witness significant growth during the forecast period. Advanced collision avoidance systems alert drivers of impending collisions, employing various warning signals such as alarms, lights, or vibrations. These systems, based on camera sensors, detect objects and relative speeds, reducing accident severity and sometimes preventing collisions.
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The medium-range segment was the largest segment and was valued at USD 2.04 billion in 2018. Further, regulatory bodies like the US NHTSA and global NCAP programs support the mandatory implementation of collision warning systems in commercial vehicles, indicating future standardization. Tests demonstrate the effectiveness of these systems in reducing crashes and mitigating driver distraction, further driving their adoption and boosting automotive radar sensors market growth during the forecast period.
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Europe is estimated to contribute 31% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. There has been a tremendous expansion in the European market, which is fuelled by the increasing use of automotive ADAS sensors and driverless vehicles. Additionally, there is an increase in demand for collision avoidance technology from consumers as well as regional markets due to stricter safety standards.
Furthermore, one of the main reasons is that the European Union has mandated that all new cars should come with automated emergency braking systems that help to sustain demand for automotive radar sensors. Some of the prominent companies that dominate the market with a focus on radar-based solutions include Robert Bosch GmbH and Valeo SA. Furthermore, the increasing demand for autonomous driving at level 3 fuels the demand for powerful radar sensors. Hence, these factors are expected to drive automotive radar sensors market growth in the region during the forecast period.
The market is fueled by increasing consumer demand and rising numbers of registered cars worldwide. These sensors play a vital role in enhancing vehicle safety with features like rear cross-traffic alert (RCTA), lane change assistance, and collision prevention. With the trend of electrification and advancements in mobility, the demand for these sensors is on the rise. They employ high-frequency components and utilize technologies like frequency modulated continuous wave (FMCW) radar to enable commercial vehicle advanced driver assistance systems. As four-wheeler production volume increases, the integration of these safety features becomes increasingly crucial in modern vehicles. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage. The report provides market size, historical data spanning from 2018-2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
The growing shift toward solid-state radar technology is the key factor driving the market. Solid-state radar sensors eliminate the need for moving parts, such as mechanical spinning antennas, which are prone to wear and tear over time. By replacing mechanical components with solid-state electronics, they offer greater reliability, durability, and longevity, reducing maintenance requirements and improving overall system reliability. Additionally, optical imaging, video, ultrasonic, infrared, LIDAR, short-range radar, mid-range radar, and long-range radar technologies are pivotal components of ADAS/AD systems, enabling automation and autonomous driving capabilities while integrating industry 4 principles with advanced presence and motion detection functionalities.
Furthermore, the lower power consumption of solid-state sensors contributes to improved passenger vehicle and commercial vehicle efficiency, extended battery life, and reduced operating costs over the vehicle's lifetime. Moreover, solid-state radar sensor technology Innovations in the automotive industry include advanced driver assistance systems and high-frequency components for lane change assistance and collision prevention. Thus, the growing shift will drive automotive radar sensors market growth during the forecast period.
Increased accuracy in perceiving the environment through sensor fusion technique is the primary trend in the market. Most of the prominent ADAS technologies have gained adoption across a wider segment of vehicles. Modern vehicles have many electronic systems that require various types of sensors, cameras, ultrasound, and LIDAR. The demand is continuously increasing as a result of stringent regulations and OEMs efforts to differentiate themselves. As a result, the sensor fusion technique is developed, which combines the information coming from different types of sensors.
Fundamentally, this concept mitigates the weakness of each sensor type to make the system more reliable and effective. The sensor fusion concept takes the inputs of different sensor types and uses the combined information to perceive the environment more accurately. In addition, the use of different sensor types can offer a certain level of redundancy to environmental conditions that could make all sensors of one type fail. Thus, such factors are expected to drive automotive radar sensors market growth during the forecast period.
Concerns associated with cybersecurity is the major challenge that affects market growth. Radar sensor signals transmitted between vehicles or between the vehicle and roadside infrastructure may be intercepted by malicious actors seeking to eavesdrop on sensitive information or gather intelligence about vehicle movements and behavior. Eavesdropping attacks can compromise privacy and expose confidential data, including location information, driving patterns, and vehicle telemetry. Cyber attackers may launch denial-of-service (DoS) attacks against such sensors or their associated communication networks to disrupt their operation and prevent them from functioning properly.
Additionally, radar sensor systems embedded in vehicles are vulnerable to malware and ransomware attacks, where malicious software is injected into the vehicle's electronic control units (ECUs) or networked components. Furthermore, vulnerabilities in communication protocols may allow attackers to intercept, manipulate, or inject malicious data into radar sensor transmissions. Thus, the concerns associated with cybersecurity risks are expected to impede automotive radar sensors market growth during the forecast period.
The automotive radar sensors market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the automotive radar sensors market research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The automotive radar sensors market growth analysis report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is witnessing significant growth with the rise of autonomous cars and ADAS (advanced driver assistance systems). Radar sensors come in short, mid, and long-range varieties, enabling features like adaptive cruise control (ACC), autonomous emergency braking (AEB), and blind spot detection (BSD). These sensors facilitate forward collision warning and lane change assistance, ensuring driver safety. Additionally, they play a crucial role in collision mitigation and parking assistance, contributing to the evolution of smart and self-driving cars. Biomedical radar, with its range and technology tailored for short and mid-range applications, including corner radar, offers high-resolution tracking despite its limited field of vision, contributing significantly to the detection capabilities crucial for the advancement of the autonomous car market.
Additionally, the market is experiencing strong growth fueled by advancements in short range radar, mid range radar, and long-range radar sensor. These sensors enable crucial features like forward collision warning system and intelligent park assist. With innovations such as long range radar (LRR) and short and medium range radar (S&M), they enhance collision avoidance and driver assistance at SAE-Level 3 autonomy. Additionally, they facilitate car-to-car and car-to-infrastructure communication, contributing to rear-end crash avoidance and lane change assistance (LCA). These technologies are pivotal in shaping the future of autonomous driving and smart transportation due to the smart grids and smart water networks. The market is growing alongside advancements in automotive chassis sensors and automotive image sensors, enhancing vehicle safety.
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Market Scope |
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Report Coverage |
Details |
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Page number |
170 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 14.01% |
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Market Growth 2024-2028 |
USD 6.51 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
13.39 |
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Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
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Performing market contribution |
Europe at 31% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks, Automotive Radar Sensors Industry Report |
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Key companies profiled |
Acconeer AB, AISIN CORP., Arbe Robotics Ltd, AU Inc, Autoliv Inc., Banner Engineering Corp., DENSO Corp., Faurecia SE, Infineon Technologies AG, Tsien UK Ltd, MediaTek Inc., NXP Semiconductors NV, Renesas Electronics Corp., Robert Bosch GmbH, Rohde and Schwarz GmbH and Co. KG, S.m.s Smart Microwave Sensors GmbH, Schaeffler AG, Texas Instruments Inc., Valeo SA, Vayyar Imaging Ltd., and Eravant |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period, Market share |
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Customization purview |
If our automotive radar sensors market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this automotive radar sensors market forecast report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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