Automotive Parking Radar Systems: Market Outlook, Key Players & Future Opportunities
Automotive Parking Radar Market Overview (2025–2031)
According to QY Research, the global Automotive Parking Radar market was valued at USD 6,837 million in 2024 and is anticipated to reach USD 10,910 million by 2031, witnessing a CAGR of 7.0% during the forecast period 2025–2031.The rising demand for advanced safety systems and increasing vehicle production, particularly in emerging markets, is driving significant momentum in this segment.
For latest news and updates, Request free sample PDF report: https://www.qyresearch.in/request-sample/automobile-transportation-global-automotive-parking-radar-market-insights-industry-share-sales-projections-and-demand-outlook-2025-2031?utm_source=linkedin&utm_medium=Ruchika&utm_campaign=ruchika
Market Analysis:
Parking radar systems are essential components in Advanced Driver Assistance Systems (ADAS), enabling real-time object detection and parking assistance. Increased integration in passenger and commercial vehicles due to government safety mandates and consumer preference for convenience is accelerating market growth.
Key Trends Include:
-
Adoption of ultrasonic and electromagnetic radar in compact and premium vehicles
-
Integration with AI-based parking systems and 360-degree surround view
-
Transition to multi-functional radar modules supporting front, side, and rear sensing
-
Miniaturization and cost reduction making radar tech more accessible to mid-range vehicles
Market Segments Analysis:
-
By Type: Ultrasonic Radar, Electromagnetic Radar
-
By Vehicle Type: Passenger Cars, Commercial Vehicles
-
By Application: Front Radar, Rear Radar, Side Radar
-
By Sales Channel: OEMs, Aftermarket
Market Opportunity:
The rapid pace of urbanization, shrinking parking spaces, and rising demand for electric and autonomous vehicles create new opportunities for radar system integration. Emerging economies, especially in Asia-Pacific and Latin America, are expected to be high-growth regions.
Growth Drivers and Challenges:
Drivers:
-
Government safety regulations mandating ADAS
-
Increasing consumer awareness of vehicle safety
-
Growing adoption in electric and autonomous vehicles
Challenges:
-
High installation and sensor calibration costs
-
Performance limitations in extreme weather conditions
-
Competition from alternative technologies like cameras and LiDAR
