Automotive 4D Imaging Radar Market Size, Share, Growth, And Industry Analysis, By Type (MIMO Chip Cascade and Radar Chipset), By Application (Passenger Vehicle and Commercial Vehicle), Regional Forecast to 2028

Report Overview

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The global automotive 4d imaging radar market size is estimated to be USD 0.051 billion in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with automotive 4d imaging radar experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is expected to reach USD 2.655 billion in 2028, exhibiting a CAGR of 93.4% during the forecast period. The sudden decline in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

Radar is used in 4D imaging radar technology to provide three-dimensional images of objects as they move through space and time. This technology can be used for safety purposes, such as accident avoidance, to track the movement of people and vehicles. A potential new technique called 4D imaging radar produces high-resolution mapping for application in driverless cars. Currently, electric and semi-automatic vehicles with "Turn Assist" and "Adaptive Cruise Control" from Audi are popular because they can detect potential collisions using low-resolution radars. Higher automation, a broader field of view (FOV), a longer range, and all-weather visibility are among the new standards of 4D radar imaging that have been developed (rain, fog, dust, snowfall, and more).

Naturally, there are many 4D imaging radar sensors utilized to detect the large number of things on the road. The more interoperability there is between such sensors, the more automotive radar density used on the road. This is particularly true when we transition from basic comfort systems to extremely complex ones. As a result, the majority of component makers favor delivering radar-on-chip (ROC) or other types of integrated systems.

COVID-19 Impact: Disruption in Supply Chain Due to Lockdown to Hamper Market Growth

Due to mandatory lockdowns and other restrictions set by the relevant regulating bodies in the wake of the recent COVID-19 outbreak, the activities of various industries have either been temporarily suspended or are running with small personnel. This element is expected to have a very unfavorable effect on the growth of revenue for the worldwide automotive 4d imaging radar industry, which is similar to other markets. Over the course of this projection period, the high expenses related to the installation and maintenance of these devices may potentially restrain the automotive 4d imaging radar revenue growth.

Latest Trends

"High Resolution to Enhance Performance of the Market"

The use of the 4D imaging radar system to provide high-resolution photographs of several objects marks a significant departure from 2D radar. The beams produced by 4D imaging radar systems have a substantially broader field of vision (FOV), ranging from 90 to 120 degrees, in contrast to traditional radar, which only permits a narrow-concentrated beam (15 to 30 degrees). This enables to assess the environment in more depth contributes to automotive 4D imaging radar market growth.

Segmentation

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• By Type Analysis

According to type, the market can be segmented into MIMO chip cascade and radar chipset.

In terms of product, radar chipset is the largest segment.

• By Application Analysis

Based on application, the market can be divided into passenger vehicle and commercial vehicle.

In terms of application, passenger vehicle is the largest segment.

Driving Factors

"Increased Usage by Government to Push Market Sales"

Government organizations like the transport research laboratory (TRL) in England have significantly increased the use of 4D imaging radar in recent years to improve road safety and provide a better understanding of driver behavior through data analysis from video recordings taken by these vehicles' cameras. Additionally, a number of businesses have been concentrating on creating cutting-edge products that can offer solutions for traffic monitoring and management, which are rising to prominence among other applications globally.

"Automotive Industries to Augment Market Growth"

The market is divided into automotive, aerospace and defense, industrial, security and surveillance, and traffic monitoring & management segments based on application. Due to the rising demand for 4D imaging radars from various governments and automakers to build roads and highways, the automotive industry held the highest automotive 4D imaging radar market share. Additionally, over the projected period, it is anticipated that increased regulatory emphasis on raising safety standards in all key markets, including North America and Europe, will increase product demand.

Restraining Factors

"On Target Specific Beam to Impede Market Expansion"

For RADAR to lock on an object, more time is needed. Radio signals take longer to reach the target and return because they can freely travel across air and space. The beam range of RADAR is larger (Over 50ft Diameter). RADAR has a rather broad and non-target-specific beam range. Its range is shorter (200ft). RADAR signals have a limited range of 200 feet, in contrast to LiDAR. If an item is decelerating faster than 1mph/s, it cannot track it. It could be difficult for RADAR systems to gather data from an object that is moving.

Regional Insights

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"North America to Dominate the Market Due to Growing Use of Radars"

In terms of revenue share, North America dominated the global 4D imaging radar market. The expansion can be ascribed to the growing use of these radars in a variety of industries, including security and surveillance, traffic monitoring and management, among other uses. For instance, over 80% of all automobiles would, on average, have some type of active safety system by the end, predicts a recent study by the North American Free Trade Agreement (NAFTA) Research Center at UT-Austin, Texas.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent automotive 4d imaging radar market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Continental AG (Germany)
• Arbe Robotics (Israel)
• Muniu Tech (China)
• WHST (China)
• Smart Radar System (South Korea)
• Aptiv (Ireland)
• Smartmicro (Germany)
• ZF Friedrichshafen AG ()
• CubTEK ()
• HUAWEI (China)
• BOSCH (Germany)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.