PUBLISHER: The Business Research Company | PRODUCT CODE: 1465669
PUBLISHER: The Business Research Company | PRODUCT CODE: 1465669
Automotive 4D imaging radar refers to cutting-edge radar technology integrated into vehicles to provide real-time, high-resolution imaging of surroundings in four dimensions, encompassing length, width, height, and time. This innovation significantly enhances safety features by facilitating precise detection of objects, pedestrians, and vehicles, thereby playing a pivotal role in supporting autonomous driving systems.
Key types of automotive 4D imaging radar include the Multiple-Input Multiple-Output (MIMO) chip cascade and radar chipset. A MIMO chip cascade denotes a system or configuration wherein multiple MIMO chips are interconnected or cascaded to augment the performance of wireless communication systems. The level of automation ranges from Advanced Driver Assistance Systems (ADAS) to Autonomous Vehicles (AV), featuring short-range radar, medium and long-range radar, and frequencies spanning from 24 GHz to 24.25 GHz, 21 GHz to 26 GHz, 76 GHz to 77 GHz, and 77 GHz to 81 GHz. These frequencies are utilized for critical functions including collision avoidance, autonomous emergency braking, adaptive cruise control (ACC), blind spot detection, and lane change assistance applications.
The automotive 4D imaging radar market research report is one of a series of new reports from The Business Research Company that provides automotive 4D imaging radar market statistics, including automotive 4D imaging radar industry global market size, regional shares, competitors with an automotive 4D imaging radar market share, detailed automotive 4D imaging radar market segments, market trends and opportunities, and any further data you may need to thrive in the automotive 4D imaging radar industry. This automotive 4D imaging radar market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The automotive 4d imaging radar market size has grown exponentially in recent years. It will grow from $0.06 billion in 2023 to $0.12 billion in 2024 at a compound annual growth rate (CAGR) of 93.7%. Historical growth in this sector can be primarily attributed to several key factors. These include the increasing emphasis on data privacy and security within radar systems, a rising demand for radar-based gesture recognition systems, growing utilization of radar sensors in unmanned aerial vehicles (UAVs), and the adoption of automotive radar for vehicle-to-everything (V2X) communication applications.
The automotive 4D imaging radar market size is expected to see exponential growth in the next few years. It will grow to $1.38 billion in 2028 at a compound annual growth rate (CAGR) of 84.0%. The projected growth can be ascribed to rising consumer demand for upgraded vehicle safety features, a heightened focus on vehicle automation, increased interest in advanced driver assistance systems, growing popularity of autonomous vehicles, and the expansion of 5G infrastructure to bolster connectivity. Key trends anticipated in the forecast period encompass advancements in radar technology, the burgeoning electric and hybrid vehicle market, partnerships between automotive OEMs and radar technology suppliers, and the widening application of radar tech in military and defense sectors.
The surging demand for advanced driver assistance systems (ADAS) is poised to drive the expansion of the automotive 4D imaging radar market in the foreseeable future. Advanced driver assistance systems encompass electronic systems leveraging sensors, cameras, and artificial intelligence to assist drivers in driving and parking functions, thereby enhancing vehicle safety and driving efficiency. 4D imaging radar, capable of detecting objects in multiple dimensions, offers a comprehensive view of the environment, facilitating ADAS in identifying and tracking vehicles, pedestrians, and obstacles. For example, as per the National Highway Traffic Safety Administration (NHTSA), approximately 80% of new vehicles sold in the United States in 2021 were equipped with some level of ADAS technology, indicating a consistent uptrend in adoption. Consequently, the escalating demand for advanced driver assistance systems (ADAS) serves as a catalyst for the automotive 4D imaging radar market's growth.
Key players within the automotive 4D imaging radar market are actively developing innovative products integrating advanced technologies, exemplified by high-performance automotive 4D imaging radar solutions. These solutions aim to provide more detailed information compared to earlier radar versions, thereby enhancing their efficacy. High-performance automotive 4D imaging radar technology introduces a fourth dimension, elevation, alongside the traditional three dimensions of azimuth (horizontal angle), distance, and velocity. For instance, in February 2021, RadSee, an Israel-based radar system provider, introduced a high-performance automotive 4D imaging radar offering unparalleled performance, cost-effectiveness, and flexibility for seamless integration with existing systems. Leveraging 4D imaging radar, this technology captures data pertaining to an object's position in terms of range, azimuth, elevation, and relative speed. By adding the dimension of elevation to traditional 3D radar systems, High-Performance Automotive 4D Imaging Radar enhances object identification and situational awareness, thus catering to the evolving needs of the automotive industry.
In October 2022, Renesas Electronics Corporation, a Japan-based semiconductor manufacturing company, successfully acquired Steradian Semiconductors Private Limited for an undisclosed sum. This strategic acquisition is geared towards broadening Renesas' automotive product portfolio by incorporating Steradian's radar technology. Additionally, it aims to enhance Renesas' presence in the radar market. Steradian Semiconductors Private Limited, headquartered in India, specializes in providing 4D imaging radar solutions for the automotive industry.
Major companies operating in the automotive 4d imaging radar market are Panasonic Corporation, Denso Corporation, Magna International Inc., ZF Friedrichshafen AG, Continental AG, Valeo S.A., Aptiv PLC, Analog Devices Inc., Autoliv Inc., Velodyne Lidar Inc., Hella GmbH & Co. KGaA, Robert Bosch GmbH, Veoneer Inc., Topcon Positioning Systems Inc., First Sensor AG, Blackmore Sensors and Analytics Inc., Ibeo Automotive Systems GmbH, LeddarTech Inc., Ouster Inc., Innovusion Inc., Luminar Technologies Inc., Quanergy Systems Inc., Innoviz Technologies Ltd., Cepton Technologies Inc., AdaSky Technologies Ltd., FLIR Systems Inc., Xenomatix NV, AEye Inc.
North America was the largest region in the automotive 4D imaging radar market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive 4d imaging radar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the automotive 4d imaging radar market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The automotive 4D imaging radar market consists of revenues earned by entities by providing services such as installation, maintenance, and repair of automotive 4D imaging radar systems. The market value also includes the value of related goods sold by the service provider, such as radar sensors, software updates, and aftermarket accessories. The automotive 4D imaging radar market also includes sales of radar modules, antennas, and associated hardware and software components. Values in this market are 'factory gate' values, incorporating the total value of goods sold by manufacturers or creators of the goods, whether directly to end customers or through intermediaries such as wholesalers, distributors, and retailers. The value of goods in this market also comprises related services sold by the creators of the goods, such as training and technical support.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Automotive 4D Imaging Radar Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive 4D imaging radar market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive 4D imaging radar ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The automotive 4D imaging radar market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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