Dublin, Sept. 12, 2024 (GLOBE NEWSWIRE) -- The "Automotive Radar Market - A Global and Regional Analysis: Focus on Application, Vehicle Type, Propulsion, Range, Frequency, and Region - Analysis and Forecast, 2024-2034" report has been added to ResearchAndMarkets.com's offering.
The automotive radar market has been undergoing significant growth, driven by various key factors and market drivers. In an optimistic scenario, the market would be valued at $7.00 billion in 2024 and is projected to expand at a CAGR of 21.65% to reach $49.70 billion by 2034.
A primary driver for the growth of the automotive radar market has been the increasing demand for advanced driver assistance systems (ADAS) and autonomous driving technologies. Automotive radar systems play a crucial role in enhancing vehicle safety by providing precise object detection, lane-keeping assistance, and collision avoidance. As consumers and manufacturers prioritize vehicle safety, the demand for automotive radar systems continues to rise.
The market has been witnessing heightened demand due to stringent government regulations mandating the inclusion of advanced safety features in vehicles. These regulations are aimed at reducing road accidents and enhancing passenger safety, thereby driving the adoption of radar systems. Additionally, advancements in radar technology, such as higher resolution and improved range, are enhancing the performance and reliability of these systems, making them more attractive to automakers.
Another driving factor in the automotive radar market has been the rapid development of autonomous vehicles. Radar systems are integral to the functionality of autonomous driving, providing the necessary data for navigation and obstacle detection. The growing investment in autonomous vehicle technology by major automotive companies has been propelling the demand for advanced radar systems.
Overall, the automotive radar market has been witnessing robust growth, driven by the increasing demand for advanced vehicle safety features and supported by technological advancements and innovations in radar technology. Innovations in radar resolution, range, and integration with other vehicle systems are making automotive radar systems more attractive to automakers, further fueling market expansion.
How can this report add value to an organization?
Product/Innovation Strategy: The global automotive radar market has been extensively segmented based on various categories, such as application, range, vehicle type, frequency, and propulsion. This can help readers get a clear overview of which segments account for the largest share and which ones are well-positioned to grow in the coming years.
Competitive Strategy: A detailed competitive benchmarking of the players operating in the global automotive radar market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Key Questions Answered in this Report:
- What are the main factors driving the demand for the automotive radar market?
- What are the major patents filed by the companies active in the automotive radar market?
- Who are the key players in the automotive radar market, and what are their respective market shares?
- What partnerships or collaborations are prominent among stakeholders in the automotive radar market?
- What are the strategies adopted by the key companies to gain a competitive edge in the automotive radar market?
- What is the futuristic outlook for the automotive radar market in terms of growth potential?
- What is the current estimation of the automotive radar market, and what growth trajectory is projected from 2024 to 2034?
- Which application and product segment is expected to lead the market over the forecast period (2024-2034)?
- Which regions demonstrate the highest adoption rates for the automotive radar market, and what factors contribute to their leadership?
Key Market Players and Competition Synopsis
- Robert Bosch GmbH
- Continental AG
- Aptiv
- DENSO CORPORATION
- NXP Semiconductors
- Autoliv
- HELLA GmbH & Co. KGaA
- VALEO
- Renesas Electronics Corporation
- ZF Friedrichshafen AG
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 100 |
| Forecast Period | 2024 - 2034 |
| Estimated Market Value (USD) in 2024 | $7 Billion |
| Forecasted Market Value (USD) by 2034 | $49.7 Billion |
| Compound Annual Growth Rate | 21.6% |
| Regions Covered | Global |
Key Topics Covered:
1. Markets: Industry Outlook
1.1 Trends: Current and Future Impact Assessment
1.1.1 Increasing Demand for Advanced Driver Assistance Systems (ADAS)
1.1.2 Advancements In Radar Technology
1.2 Supply Chain Overview
1.2.1 Value Chain Analysis
1.2.2 Pricing Forecast
1.3 R&D Review
1.3.1 Patent Filing Trend by Country, by Company
1.4 Regulatory Landscape
1.5 Stakeholder Analysis
1.5.1 Use Case
1.5.2 End User and Buying Criteria
1.6 Impact Analysis for Key Global Events
1.7 Market Dynamics Overview
1.7.1 Market Drivers
1.7.2 Market Restraints
1.7.3 Market Opportunities
2. Automotive Radar Market (by Application)
2.1 Application Segmentation
2.2 Application Summary
2.3 Automotive Radar Market (by Application)
2.3.1 Adaptive Cruise Control (ACC)
2.3.2 Autonomous Emergency Braking (AEB)
2.3.3 Blind Spot Detection (BSD)
2.3.4 Forward Collision Warning System (FCWS)
2.3.5 Intelligent Parking Assistance (IPA)
2.3.6 Cross Traffic Alert (CTA)
2.3.7 Lane Departure Warning System (LDW)
2.3.8 Traffic Jam Assist (TJA)
2.3.9 Others
2.4 Automotive Radar Market (by Vehicle Type)
2.4.1 Passenger Cars
2.4.2 Commercial Vehicles
2.4.2.1 Light Commercial Vehicles
2.4.2.2 Heavy Commercial Vehicles
2.5 Automotive Radar Market (by Propulsion)
2.5.1 ICE Vehicle
2.5.2 Electric Vehicle
3. Automotive Radar Market (by Product)
3.1 Product Segmentation
3.2 Product Summary
3.3 Automotive Radar Market (by Range)
3.3.1 Short-Range Radar
3.3.2 Medium-Range Radar
3.3.3 Long-Range Radar
3.4 Automotive Radar Market (by Frequency)
3.4.1 2X-GHz
3.4.2 7X-GHz
4. Automotive Radar Market (by Region)
4.1 Automotive Radar Market- by Region
4.2 North America
4.2.1 Regional Overview
4.2.2 Driving Factors for Market Growth
4.2.3 Factors Challenging the Market
4.2.4 Application
4.2.5 Product
4.2.6 U.S.
4.2.6.1 Market by Application
4.2.6.2 Market by Product
4.2.7 Canada
4.2.7.1 Market by Application
4.2.7.2 Market by Product
4.2.8 Mexico
4.2.8.1 Market by Application
4.2.8.2 Market by Product
4.3 Europe
4.4 Asia-Pacific
4.5 Rest-of-the-World
5. Companies Profiled
5.1 Next Frontiers
5.2 Geographic Assessment
5.2.1 Overview
5.2.2 Top Products/Product Portfolio
5.2.3 Top Competitors
5.2.4 Target Customers
5.2.5 Key Personnel
5.2.6 Analyst View
5.2.7 Market Share
For more information about this report visit https://www.researchandmarkets.com/r/l06f4n
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