Global automotive radar market was valued at US$ 3,094.53 Million in 2018 and is anticipated to reach US$ XX Million by 2025 displaying explosive CAGR of XX% over the forecast period (2019-2025). Automotive radar is defined as distance sensors which are used to locate objects around the vehicle’s proximity. Road traffic crashes have become a major global challenge. Every year millions of people are known to die in road accidents and get seriously injured. This led to the development of significant technology of road safety. The automotive radar technology has been identified as an imperative technique to improve road safety and enhance driving experience. Changing vehicle safety regulation, increase in adoption of advanced driver assistance system (ADAS) technology and increasing number of radar sensors used per vehicle are the major growth drivers of the market. Stringent government regulations, mandating rear-view camera system and lane departure warning technologies in vehicles which has also stimulated the growth of the automotive radar market in several countries. In addition, growing adoption of ADAS technology across mid-priced and premium segment vehicle has further fueled the growth of the market on a global scale. However, increase in the overall cost of vehicle and illegalities of radar detectors in some countries are restricting the market growth.
This technology is being widely adopted in passenger cars and commercial vehicle across the globe. Radar is a method of using radio waves which is used to determine the angle, range, and relative speed of objects across its vicinity. In today’s vehicle safety systems, radars are used in conjunction with cameras, infrared, ultrasonic and other technologies to acquire information about the vehicle’s surroundings. With this information these systems can determine a particular driving situation and warn the driver in potentially dangerous event. It can also command the vehicle on its own and reduce the accident’s severity. These features have brought a new revolution in driving experience which has shifted the trend of advanced driver assistance system (ADAS) to automated driving or auto pilot.
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“Short and medium range radar is expected to dominate automotive radar market during the analyzed period.”
Based on range of the radar, the market is segment in Short Range Radar and Medium Range Radar and Long-Range Radar. In 2018, short and medium range radar held the maximum revenue share and the same is expected to follow during the forecast period (2019-2025).
“Amongst applications, adaptive cruise control tends to conquer the market during the forecast period.”
Global automotive radar market is also categorized based on their application areas that include Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Intelligent Parking System (IPS), Blind Spot Detection (BSD), Collision Mitigation System (CMS) and others. Among such applications, adaptive cruise control held the largest market share of the global automotive radar market, followed by blind spot detection and others.
“Amongst frequency band, 2X GHz radar occupied the major market during the forecast period.”
Based on different frequency band, the global automotive radar market is fragmented in 2X GHz and 7X GHz. In 2018, 2X GHz radar held the maximum market share however due to increase in demand of 7X GHz radar, they are anticipated to be the fastest growing and largest market by 2025.
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“Amongst vehicle type, passenger cars ruled the automotive radar market during the forecast period.”
The study also analyses the global automotive radar market across different vehicle types that includes passenger vehicles, luxury vehicles and commercial vehicles. Among different vehicle types, passenger cars held the maximum share in 2018, however due to increase in demand of radar system in high end vehicles, the luxury vehicles segment is anticipated to be the fastest growing market segment growing at a CAGR of XX% during the forecast period (2019-2025).
“Europe represents itself as one of the largest regions in terms of revenue sales for automotive radar market.”
To analyse the growth potential of the automotive radar industry the report is further analyzed based on different geographies and countries including North America (U.S., Canada, Mexico and rest of North America), Europe (Germany, France, U.K., Russia, Italy, Spain and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Australia and rest of Asia-Pacific), Latin America (Brazil, Argentina, Chile and rest of Latin America) and Middle East and Africa ( UAE, KSA, Algeria, Kuwait, Egypt, Qatar and rest of MENA). The European region is estimated to be the largest market for automotive radar during the forecast period. Substantial build up in this market is mainly due to the adoption of advanced technologies and stringent vehicle safety regulation.
Competitive Landscape-Top 10 Market Players
Some of the major players profiled in the report include Continental AG, Robert Bosch GmbH, Denso Corporation, Delphi Automotive Plc, Infineon Technologies AG, NXP Semiconductors NV, Valeo SA, Analog Devices Inc., Hella KGaA Hueck and Co, and Texas Instruments Inc.
Reasons to buy:
- Current and future market size from 2018 to 2025 in terms of value (US$)
- Combined analysis of deep dive secondary research and input from primary research through Key Opinion Leader of the industry
- A quick review of overall industry performance at a glance
- An In-depth analysis of key industry players
- A detailed analysis of regulatory framework, drivers, restraints, key trends and opportunities prevailing in the industry
- Examination of industry attractiveness with the help of Porter’s Five Forces analysis
- The study comprehensively covers the market across different segments and sub-segments of automotive radar
- Region Covered: North America, Europe, Asia Pacific, Latin America, Middle East and North Africa
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