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The global automotive radar market Growth Accelerated by Increased Demand for Advanced Driver Assistance Systems

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Ishika cmi
The global automotive radar market Growth Accelerated by Increased Demand for Advanced Driver Assistance Systems

The automotive radar market consists of radar sensors, transmitters, and receivers used in vehicles for accident prevention and safety purposes. Radar sensors detect the proximity and velocity of other vehicles and obstacles on the road, assisting drivers with features like adaptive cruise control, lane change assistance, autonomous emergency braking, and parking assistance. This alleviates driver stress and enhances safety.

The global automotive radar market is estimated to be valued at US$ 5.6 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends driving growth in the automotive radar market size is the increased demand for advanced driver assistance systems from consumers. As autonomous and semi-autonomous driving technologies advance rapidly, drivers are getting more accustomed to safety and convenience features in their vehicles that take some load off manual driving. Major automakers are thereby incorporating more radar sensors to provide features like adaptive cruise control, lane keeping assistance and even partially automated highway driving. The integration of more radars enables higher levels of driver assistance and improves overall road safety. This growing demand is accelerating the automotive radar market's expansion over the forecast period.


Segment Analysis

The global automotive radar market can be segmented by range, technology, application, and vehicle type. Based on range, the long-range radar segment dominated the market in 2024 and is estimated to maintain its dominance throughout the forecast period. Long-range radars provide accurate detection of objects at a longer distance, hence dominating the automotive radar market.

Key Takeaways

The global automotive radar market is expected to witness high growth. The global automotive radar market is estimated to be valued at US$ 5.6 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031.

Regional analysis related content comprises North America held the largest share of the automotive radar market in 2024 and is estimated to grow at the highest CAGR during the forecast period. This is attributed to the presence of major automotive radar manufacturers and early adoption of advanced driver assistance systems in the region.

Key players related content comprises Key players operating in the automotive radar market are Bosch, Continental, Denso, Delphi Automotive, TRW Automotive, Hella, Valeo, NXP Semiconductors, Infineon Technologies, and Fujitsu Ten. Bosch held the largest share of the global automotive radar market in 2024. The company offers radar sensors with various features for driver assistance systems and autonomous driving applications.

Get more insights on this topic: https://www.newsstatix.com/automotive-radar-market-share-and-opportunity-analysis/

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