Industry Overview - Ultrasonic radar is a sensor that uses ultrasonic waves for short-range distance measurement, operating on the principle of "echo location" [2] - Automotive ultrasonic radar (USS) is installed in vehicle bumpers and side panels for near-field environmental perception, providing distance information for parking assistance and low-speed collision avoidance [3][4] Market Size and Growth - The global ultrasonic radar market is projected to reach $1.81 billion in 2024, with a compound annual growth rate (CAGR) of 7.41% from 2020 to 2024 [5] - By 2031, the market is expected to grow to $3.07 billion, with a CAGR of 7.40% from 2025 to 2031 [5] Regional Analysis - In 2024, China is expected to account for approximately 30.75% of the global market, while the U.S. will hold about 13.81% [9] - China's market is projected to grow at a CAGR of 9.49%, reaching $1.14 billion by 2031, compared to the U.S. market's expected CAGR of 6.38% [9] Production and Supply Chain - China is the largest producer of ultrasonic radar, holding about 40.78% of the global market share, while Europe accounts for approximately 16.72% [13] - The supply structure shows a trend of scaling production in China while maintaining high-end manufacturing capabilities in Europe [13] Product Types and Market Trends - In 2024, UPA ultrasonic radar is expected to dominate the market with a share of about 61.27%, primarily used for parking assistance [14] - The market is shifting towards APA (Automated Parking Assistance) systems, which are expected to grow significantly, reaching $2.36 billion by 2031 with a CAGR of 14.85% from 2025 to 2031 [14] Application Structure - The market is primarily driven by OEMs, with an expected share of 96.52% in 2024, reflecting the integration of ultrasonic radar into vehicle design and development [17] Competitive Landscape - The global market is dominated by European manufacturers, with major players like Valeo, Bosch, and others holding about 64.76% of the market share [20] - Future competition will focus on the performance of next-generation ultrasonic systems and their integration with automated parking solutions [20] Favorable Factors for Development - The continuous growth of the automotive market provides a stable demand base for ultrasonic radar, with increasing consumer willingness to pay for low-speed safety features [23] - Supportive national industrial policies are reducing uncertainty in R&D and accelerating product iteration and localization [23] Unfavorable Factors for Development - Economic downturns in the automotive industry can weaken demand for new installations of ultrasonic radar, extending project ramp-up periods [24] - Competitive risks arise from a crowded supply landscape and the need for continuous technological upgrades [24]

Group 1 - The core viewpoint of the article highlights that while the reputation of Li Auto's automatic parking is generally good, the reputation of AITO's Wenjie is even better, particularly in terms of parking speed and capability [1] - Wenjie's automatic parking is faster due to optimized rules, while Li Auto has not focused on rule-based optimization for parking, which may affect user experience [1] - Li Auto's decision not to invest in rule-based optimization for automatic parking may be influenced by ROI considerations and the personal preferences of its CEO, Li Xiang, who may not prioritize automatic parking [1][2] Group 2 - Li Xiang indicated that he uses Li Auto's intelligent driving about 80% of the time, suggesting that users with similar preferences may not see significant pain points in automatic parking [2] - Li Xiang's personal experiences with parking challenges, such as the difficulty of using the trunk space in his family's vehicle, suggest a higher tolerance for parking inconveniences [2] - There is a demand from some MEGA vehicle owners for features like head-in parking, which are currently not available, indicating potential areas for improvement in Li Auto's offerings [2]