The Automotive 4D Imaging Radars Market is projected to grow at a CAGR of around 20% during the forecast period, i.e., 2022-27. This detailed analysis offers valuable insights into the key growth drivers, geographical dynamics, and emerging trends that are poised to shape the market's trajectory in the coming years.
The market is driven by the swift escalation in the sales of automated vehicles, especially in recent years due to the mounting popularity of autonomous vehicles. The increased level of security & safety features offered by these vehicles are the key aspects stimulating the demand for inbuilt Radar, Lidar, & other technologies in the Advanced Driver Assistance Systems (ADAS).
Besides, growing awareness among people about the benefits like the safety of the passenger & vehicle through various features such as blind-spot monitoring, collision warning & mitigation, & object identification, among others, are also widening the popularity of these solutions. Thus, the escalating consumer shift towards adopting autonomous vehicles would fuel the requirement for the Automotive 4D imaging Radar for the efficient performance of the vehicle as it provides detailed information about the road, obstacles, and other objects present in the environment.
The newly developed 4D imaging radar has taken an edge over the traditional radar system as the traditional imaging radar system has been efficient in scanning the 3D dimension of the roadway, like distance, direction, and relative velocity. Yet, the 4D imaging radar provides information about another dimension i.e., vertical information. In addition, numerous investments by automotive manufacturers have taken place during 2017-2021 to cater to the prevailing and future demand for autonomous cars across the globe. For instance:
Recently, in 2022, Hyundai announced the investment of approximately USD5 billion in the US to develop mobility solutions such as autonomous driving vehicles and robotics.
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Key Takeaways from the Market Study:
- Historical Data: 2017-20
- Base Year: 2021
- Forecast Period: 2022-27
- CAGR (2022-2027): 20%
- Key Players to Watch: Ainstein, Continental AG, BOSCH, Okuli, Texas Instruments, Vayyar Imaging, Arbe Robotics, Smart Radr System, Infineon, NXP Semiconductors, Xilinx, RadSee, Uhnder, Zadar Labs, ZF Friedrichshafen AG, Others are expected to play a pivotal role in driving market growth through strategic investments, partnerships, and innovation.
Latest News in the Automotive 4D Imaging Radar Industry:
- In 2022, German auto manufacturer Audi in partnership with Ireland-based automotive technology company Aptiv announced an investment of approximately USD285 million.
- In 2022, EKA, an electric vehicles & technology company and a subsidiary of Pinnacle Industries Limited announced a partnership with NuPort robotics for the introduction of level 2 ADAS for their electric bus models. The development of ADAS system for level 2 electric buses would deploy 4D imaging radar technology for efficient monitoring of the passengers and the exterior objects.
Market Segmentation of Automotive 4D Imaging Radar Industry
The Automotive 4D Imaging Radar market is segmented as follows:
- By Automation Level
- Level 1
- Level 2
- Level 3 to 5
- By Range Type
- Short Range Radar (Up to 50M)
- Medium Range Radar (50M to 100M)
- Long Range Radar (100M to 300M)
- By Application
- Passenger Monitoring (including driver)
- Left-child Identification (Child Presence Detection, Child Restraint Systems, etc.,)
- Exterior (Environment Obstacles, Pedestrians, other Vehicles, etc.,)
According to report, the rechargeable segment holds a larger share of the Global Automotive 4D Imaging Radar Market mainly due to their lower costs.
According to reports, offline retail holds the largest market share.
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Automotive 4D Imaging Radar Market Geographical Analysis
North America
South America
Europe
Middle East & Africa
Asia-Pacific
According to reports, North America holds a prominent share of the Automotive 4D Imaging Radar Market
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