Automotive radar sensors market is anticipated to grow at a CAGR of 20.4% during the forecast period. The factors responsible for the growth of the automotive radar sensors market includes various technological innovation, increased requirement for safety, and the inclusion of stringent government regulations. The radar sensors technology is majorly dependent on the growth of the automotive industry. The increase in the production of passenger and commercial vehicles will directly impact the growth of the radar sensors market. Moreover, the increasing number of accidents and the launch of innovative radar sensors in the market to further boost the growth of the global automotive radar sensors market. For instance, in March 2022, Uhnder launched the first mass-produced, 4D digital imaging radar-on-chip that becomes the next-generation advanced driver assistance systems (ADAS), autonomous vehicles (AVs), and automated mobility applications possible. Digital radar provides 16 times better resolution, 24 times more power on target, and 30 times better contrast than today’s analog offerings, improving detection capabilities for better road safety for all users- drivers, passengers, cyclists, and pedestrians.
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The global automotive radar sensors market is segmented based on range, and application. Based on range, the market is bifurcated into short-range, medium-range, and long-range. Based on application, the market is sub-segmented into forward collision warning systems, and intelligent park assist. Among the application, the forward collision warning system segment is anticipated to hold a prominent market share, while the market for the intelligent park assist segment is estimated to witness the fastest growth.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Automotive Radar Sensors Market Report Segment
By Nature
- Short range
- Medium-Range
- Long-Range
By Application
- Forward Collision Warning System
- Intelligent Park Assist
Global Automotive Radar Sensors Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global automotive radar sensors market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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