Automotive Radar Market Size

Automotive Radar Market size was valued at USD 5.25 billion in 2024 and is expected to cross USD 18.68 billion by the end of 2037, registering more than 10.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of automotive radar is estimated at USD 5.69 billion.

The growth of the market can primarily be attributed to the growing number of vehicles on the road, along with rising concern over the increasing incidence of road accidents worldwide, and surging demand for features related to the safety of the vehicles. For instance, according to World Health Organization data, road traffic crashes result in nearly 1.3 million deaths each year.

Automotive radar systems are critical sensor systems in advanced driving assistance systems and primary sensors that are used in adaptive cruise control. Radars provide evident benefits such as detecting motion, measuring speed, distance, and the angle of arrival as well as the direction of movement that serve various purposes such as collision avoidance, and pedestrian & cyclist detection. Radar complements vision-based camera-sensing systems that can work in adverse conditions such as rain, fog, and dust, enabling the coverage of long-range as well as close distances. With the recent advancements in radar sensors as well as steering assistance, the demand for automotive radar is on the rise among vehicle users, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global automotive radar market during the forecast period. For instance, steering assistance features used to keep a vehicle in its lane were installed in almost 63% and 56% of new cars sold in United States and Europe in 2021.