Global Automotive Radar Market Forecast to 2033

Market Overview

The global automotive radar market is projected to grow from an estimated USD 7.1 billion in 2024 to USD 87.0 billion by 2033, registering a Compound Annual Growth Rate (CAGR) of 32.10% during the forecast period.

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Market Drivers

• Increasing Demand for Advanced Driver Assistance Systems (ADAS): The rising emphasis on vehicle safety and the adoption of ADAS features are propelling the demand for automotive radar systems.
• Growth in Autonomous Driving Technologies: Advancements in autonomous vehicle technologies necessitate reliable sensing systems, with radar playing a crucial role in object detection and collision avoidance.
• Regulatory Mandates for Vehicle Safety: Governments worldwide are implementing stringent safety regulations, encouraging the integration of radar-based safety systems in vehicles.

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