Automotive Radar Market Trends

Growth Drivers

• Growing Demand Radar in Autonomous Vehicles – Radar operates at frequencies of 24, 74, 77, and 79 GHz in autonomous vehicles. There are two types of radar for autonomous vehicular applications, impulse and frequency-modulated continuous wave (FMCW). With the rising demand for autonomous vehicles, the automotive radar market is expected to boost in the projected period. It is estimated that autonomous vehicles will account for approximately 12 percent of total car registrations by 2030 globally.

• Increasing Demand for Cars – With the burgeoning population, the need for individualized and personalized transportation has generated a high demand for cars. With the increasing production of cars, the demand for automotive radars is also expected to grow and bring profitable opportunities for the market in the forecast period. The sales of the car are expected to reach more than 100 million units by 2030 worldwide.

• Upsurge in the Installations of Advanced Driver Assistance System (ADAS) – Recent statistics revealed that advanced driver assistance system (ADAS) features were installed in about 1 billion cars in use in 2020 across the world.

• Rising Penetration of Connected Cars – For instance, there were over 200 million connected cars in 2021, and this ratio is expected to expand to nearly 400 million connected cars by 2025 worldwide.

Challenges

• Possibility of Data Threat - Security flaws in automobile technologies such as radar and dedicated short-range communication (DSRC) must be properly investigated as vehicles become more automated. Existing automotive radar solutions are sensitive to data threats such as jamming, interference, and spoofing. Such spoofing attacks from outside parties, potentially result in deadly accidents, hence the associated data threat is estimated to hamper the growth of the market over the forecast period.
• Huge Investment is Required for Research & Development
• High Cost of Installation of Advanced Features in Automobiles