"Executive Summary Automotive Radar Market Size and Share: Global Industry Snapshot
CAGR Value
The global automotive radar market size was valued at USD 5.55 billion in 2024 and is expected to reach USD 26.98 billion by 2032, ****at a CAGR of 18.43% during the forecast period
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Automotive Radar Market Trends & Analysis
Segments
The global automotive radar market is segmented based on range type, frequency, and vehicle type. In terms of range type, the market is categorized into short-range radar, medium-range radar, and long-range radar. Short-range radars are primarily used for functionalities such as blind spot detection, parking assistance, and cross-traffic alert. Medium-range radars are typically employed for adaptive cruise control and automatic emergency braking systems. Long-range radars play a crucial role in applications like forward collision warning and pedestrian detection systems. Across the frequency segment, the market includes 2X-GHz radars, 7X-GHz radars, and 7X-GHz radars, each offering varying levels of precision and performance. Finally, concerning vehicle type, the market is divided into passenger cars and commercial vehicles, with the former accounting for a significant share owing to the rising integration of advanced driver assistance systems in passenger vehicles.
Market Players