Automotive Radar Market Analysis

Vehicle Type (Passenger Vehicles, Commercial Vehicles)

The global automotive radar market is segmented and analyzed for demand and supply by vehicle type into passenger, and commercial vehicles. Amongst these segments, the commercial vehicles segment is anticipated to garner the largest revenue by the end of 2037, as some radar sensors are specially adapted for commercial vehicle to enable fast, robust, and highly accurate object detection. Furthermore, the growing demand for commercial vehicles, along with the radical surge in the sale of commercial vehicles worldwide, is further anticipated to boost the market’s growth. For instance, the sale of commercial vehicles in the United States exceeded around 12,050,000 units in 2021.

Application {Blind Spot Detection (BSD), Forward Collision Warning System, Autonomous Emergency Braking (AEB), Adaptive Cruise Control (ACC), Intelligent Park Assist, Other Advanced Driver Assistance System (ADAS) Applications}

The global automotive radar market is also segmented and analyzed for demand and supply by application into blind spot detection (BSD), forward collision warning system, autonomous emergency braking (AEB), adaptive cruise control (ACC), intelligent park assist, and other advanced driver assistance system (ADAS). Out of these, the intelligent park assist segment is attributed to garner the highest revenue by the end of the forecast period. The major factor contributing to the high demand for intelligent park assist applications is the need for parking assistance by the population to avoid backside collisions and accidents. Further, the demand for luxury vehicles, sports cars, and advanced vehicles also needs intelligent park assist features to enhance safety. Also, another factor contributing positively to the segment’s growth is the installation of intelligent park assist in electric vehicles. On the other hand, the adaptive cruise control (ACC) segment is also expected to hold a significant share over the analysis period. The high utilization rate of adaptive cruise control in significant automotive markets such as Germany, the U.S., the UK, and China, among others, is considered to create a positive outlook for segment growth. In addition, the various advantages and prominent benefits offered by adaptive cruise control in vehicle safety and the level of automation in a vehicle make it an ideal option in the automotive industry for improving vehicles.

Our in-depth analysis of the global market includes the following segments: