Automotive Radar Market Size, Growth, Trends & Forecast 2027

Automotive Radar Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Range (Long Range Radar (LRR), Medium Range Radar (MRR), Short Range Radar (SRR)), Frequency (24GHz, 77GHz, 79GHz), Application (Adaptive Cruise Control, Autonomous Emergency Braking, Blind Spot Detection, Forward Collision Warning System, Intelligent Park Assist, Others), and Vehicle Type (Passenger Cars, Light Commercial Vehicles, and Medium and Heavy Commercial Vehicles)

Publication Month : Feb 2021

  • Report Code : TIPTE100000609
  • Category : Automotive and Transportation
  • Status : Published
  • No. of Pages : 189
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The automotive radar market was valued at US$ 5,019.01 million in 2019 and is projected to reach US$ 11,640.77 million by 2027; it is expected to grow at a CAGR of 14.9% during 2020–2027.

The automotive radar market is driven by various factors such as increasing government regulations concerning vehicle safety, rising adoption of premium vehicles, as well as a growing number of radars used in a vehicle. Moreover, the rising production and adoption of electric vehicles (EV) are further expected to support the growth of the automotive radar market. It is anticipated that in the coming years, autonomous driving will be the growing trend. To attain this, several vision technologies have increased intending to deliver functionality as well as safety to the vehicle's drivers and passengers. Radar systems are considered the most established and trusted technologies among the automotive industry's various vision technologies. At present, several vehicle manufacturers provide 'level 3' automation, wherein drivers are on standby for a certain time. These vehicles are integrated with nearly five radar systems, including SSR and LLR, for applications such as emergency braking or adaptive cruise control.

Impact of COVID-19 Pandemic on Automotive Radar Market

The North American region is greatly influenced by the presence of the US owing to its considerable adoption of passenger vehicles per capita and large presence of automobile manufacturing capabilities in the country. Though the US witnessed a notable surge in the number of COVID-19 cases, the lack of stringent government measures and restrictions slightly impacted the overall automotive industry; hence the market experienced a moderate impact from the pandemic. Additionally, the ongoing US and China trade war influenced the availability of materials and components for various automotive OEMs following the pandemic. Moreover, as Mexico and Canada witnessed a decline in the demand for automotive sales, they also witnessed a notable decline in their overall market growth for various automotive components, including radars.

Lucrative Regions in Automotive Radar Market

Lucrative Regions in Automotive Radar Market
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Market Insights–Automotive Radar Market

Rising Number of Road Accidents and Fatalities Fuels Market Growth

Road traffic injuries are a key public health concern faced by governments, and the increasing prevalence of the same hinders the development of countries. According to the data by the World Health Organization (WHO), ~1.35 million people die each year because of road traffic accidents, which also lead to considerable economic loss at macro as well as micro level. According to the WHO, road traffic injuries cost most countries 3% of their Gross Domestic Product (GDP). To create awareness about road safety and rising death count due to road accidents, many national and international organizations are running awareness campaign around the globe. For instance, the WHO has been promoting safe system campaign with a mission to create awareness about road safety measures. In addition to various international organization (such as WHO), governments of various countries are also promoting and implementing laws and regulations to reduce road accidents. These activities involve promoting the incorporation of advanced automotive radar systems in vehicles. The radar systems facilitate advanced cruise control, collision warning, and lane change assistance; the systems also help drivers in getting alerts about the unseen incidents. Radar-based OEMs have been striving to develop advanced radar solutions. For instance, the business unit of Continental AG i.e. ADAS operating in North America reached the milestone production of 30 million radar sensors in August 2020. The company aims to promote “Safely There” campaign to raise awareness about various automotive safety technologies. Similar to Continental AG, other OEMs are also investing in R&D to develop advanced solutions for tapping the growing opportunities in the automotive radar market.

Range-Based Insights

Based on range, the automotive radar market is segmented into long range radar (LRR), medium range radar (MRR), and short range radar (SRR). The short range radar segment led the global automotive radar market. Short range radar helps driver to detect and avoid danger around the vicinity of the vehicle. High performance 24 GHz radar sensor is installed at both ends of the rear bumper.

Automotive Radar Market, by Range (% Share)

Automotive Radar Market, by Range (% Share)
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Frequency-Based Insights

Based on frequency, the automotive radar market is segmented into 24 GHz, 77 GHz, and 79 GHz. 24 GHz segment led the market in 2019 and is expected to lose its dominance to 77 GHZ during the forecast period. The share of 24 GHz frequency is projected to decline owing to its replacement by 79 GHz high-resolution short range radar for blind-spot monitoring. 79 GHz allows mapping of the complete vehicle surroundings.

Application-Based Insights

Based on application, the automotive radar market is bifurcated into adaptive cruise control, autonomous emergency braking, blind spot detection, forward collision warning system, intelligent park assist, and others. The market for the intelligent park assist segment is projected to grow at the highest CAGR during the forecast period.

Vehicle Type-Based Insights

Based on vehicle type, the automotive radar market is segmented into passenger cars, light commercial vehicle, and medium and heavy commercial vehicle. The passenger cars segment led the market in 2019. One of the primary reasons for the growth of this segment is increasing awareness for vehicle safety among mid-priced car owners. Also, the rising demand for passenger vehicles, particularly among the middle-class population, boosts the growth of automotive radars in passenger cars.

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Automotive Radar Market: Strategic Insights

Market Size Value inUS$ 5,019.01 Million in 2019
Market Size Value byUS$ 11,640.77 Million by 2027
Growth rateCAGR of 14.9% from 2020-2027
Forecast Period2020-2027
Base Year2020
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Players operating in the automotive radar market are mainly focusing on the development of advanced and efficient products.

  • In 2021, Aptiv Plc introduced next generation level 1–3 capable ADAS platform. This ADS solution is cost effective and efficient.
  • In 2020, Hella Gmbh & Co. KGAA installed 24 GHz radar sensor technology on Suzuki's new flagship models, enabling safety-relevant driver assistance functions such as "Blind Spot Monitor" and "Rear Cross Traffic Alert"

The global automotive radar market has been segmented as follows:

Automotive Radar Market– by Range

  • Long Range Radar (LRR)
  • Mid Range Radar (MRR)
  • Short Range Radar (SRR)

Automotive Radar Market– by Frequency

  • 24 GHz
  • 77 GHz
  • 79 GHz

Automotive Radar Market– by Application

  • Adaptive Cruise Control
  • Autonomous Emergency Braking
  • Blind Spot Detection
  • Forward Collision Warning System
  • Intelligent Park Assist
  • Others

Automotive Radar Market– by Vehicle Type

  • Passenger Cars
  • Light Commercial Vehicle
  • Medium and Heavy Commercial Vehicle

Automotive Radar Market–by Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • Germany
    • France
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific (APAC)

    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Middle East and Africa (MEA)

    • Turkey
    • South Africa
    • Rest of MEA
  • South America (SAM)

    • Brazil
    • Argentina
    • Rest of SAM

Automotive Radar Market–Company Profiles

  • Continental AG
  • Denso Corporation
  • Aptiv plc
  • Robert Bosch GmbH
  • ZF Friedrichshafen AG
  • Veoneer Inc.
  • Nidec Elesys Corporation
  • TungThih Electronic Co., Ltd.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Range , Frequency , Application , and Vehicle Type

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, South Africa, South Korea, Turkey, United Kingdom, United States

Frequently Asked Questions

Which region led the automotive radar market?

In terms of revenue share, Asia Pacific held the largest share of global automotive radar market in 2019 and it is anticipated to continue its dominance over the forecast period of 2020 to 2027. Europe is the second largest revenue contributor, followed by North America in 2019. The presence of developed countries such as US and Canada coupled with automobile industry vertical is responsible for high adoption of automotive radar solutions in the region.

Which factors is driving growth of the automotive radar market?

The rising road accidents coupled with growing demand for semi autonomous passenger cars are some of the key driving factors for global automotive radar market. The increasing demand of automotive radar to minimize road accidents and continuous promotion by government of different countries to use semi autonomous vehicle is helping in the market growth.

Which segment led the automotive radar market in 2019?

Based on range, the automotive radar market is segmented into long range radar (LRR), medium range radar (MRR) and short range radar (SRR). Presently, short range radar (SRR) segment led the automotive radar market. However, medium range radar (MRR) being demanded by auto carmakers.

The List of Companies -  Automotive Radar Market

  1. Continental AG
  2. Denso Corporation
  3. Aptiv plc
  5. Robert Bosch GmbH
  7. ZF Friedrichshafen AG
  8. Veoneer Inc.
  9. Nidec Elesys Corporation
  10. TungThih Electronic Co., Ltd.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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