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Automotive Radar Market Report with Size, Share, Value, CAGR, Outlook 2025

- By univdatos
Publish Date : 2021-11-02 09:13:54
Automotive Radar Market Report with Size, Share, Value, CAGR, Outlook 2025

Global Automotive Radar Market was valued US$ 3,094.53 million in 2018 and is expected to reach a market size of US$ 11,968.53 million by 2025, growing at a CAGR of 21.8% during the forecast period 2019-2025. There are several emerging developments in the use of radiofrequency (RF) to make driving safer and more automatic. One such equipment is automotive radar, where RF signals are used for adaptive cruise control, forward collision warning, or blind-spot detection. Factors such as increased demand for safety features in automobiles and increased demand for comfortable driving stimulate market growth. Additionally, strict safety device rules and regulations are expected to fuel the growth of the RADAR automotive industry.

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Automotive radars are used to track velocity and range of objects in the car's vicinity. The automotive radar consists of a receiver and a transmitter. The transmitter sends out radio waves that reach an object and bounce back to the receiver to determine the distance, speed, and direction of the objects. Growing focus on active safety features, radar technology innovations, decreasing component prices, and increasing vehicle sales are driving market growth factors. Radars play a crucial role in identifying obstacles in various protection systems, including pedestrian detection, adaptive cruise control, automatic emergency braking, and blind-spot detection. With increasing vehicle sales and technological advancements in the automobile industry, it is expected that the automotive radar market will further grow positively over the forecast period. For instance: The passenger vehicle demand in India is projected to grow from 3.4 million in FY 2016 to 10 million in FY2020 according to the IBEF.

Road traffic accidents are among the world's leading causes of human death and the leading cause of accidental death for healthy people. As a result of road traffic crashes around the world, roughly 1.35 million people are killed each year. Thus, the need to protect drivers and passengers against potential accidents will play an important role in deciding the growth of the automotive radar market, as radar-enabled driver assistance systems provide an in-depth view of the environment of vehicles and help drivers recognize possible hazards in advance. The government across the world has taken several steps in recent times to make our roads and vehicles safer, as they have made the ABS system compulsory for two-wheelers already. Both new cars will have to come with airbags, seat belt reminders, and rear parking sensors. For instance: the Indian transport minister announced that by 2022, the government would make the Advanced Driver Assistance System (ADAS) mandatory for passenger cars and heavy-duty vehicles, including trucks and buses.

Based on the radar range, the global automotive radar market has been categorized into Short-range & medium-range radar (S&MRR) and long-range radars (LRR). Of the two, short-range & medium-range radar (S&MRR) dominated the market and is expected to hold the larger market share by the year 2025. By 2025, S&MRR is anticipated to generate a revenue of US$ 7,330.72 million by while, long-range radars (LRR) segment is expected to with a CAGR of 24.3% during the analyzed period. Besides, based on application, the market has been segmented as Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Intelligent Parking System (IPS), Blind Spot Detection (BSD), Collision Mitigation System (CMS) and others. Adaptive Cruise Control (ACC) has generated a revenue of US$ 1,009.6 million in 2018 and is expected to keep its dominance in the automotive radar market. Increasing demand for vehicle protection and comfort features allows car manufacturers to incorporate adaptive cruise control systems in their vehicles, which is expected to drive the adaptive cruise control market significantly over the forecast period.

Further, among the frequency band, the automotive radar market has been segmented into 2X GHz and 7X GHz. Currently, 2X GHz dominated the market, however, by the year 2021, 7X GHz will overtake 2X GHz, automotive radar market, owing to 7X GHz better performance. Furthermore, based on vehicle type, the automotive radar market has been segregated into passenger vehicles, luxury vehicles, and commercial vehicles. Passenger cars hold a significant share of the markets as compared to luxury vehicles and commercial vehicles, the primary driving factor for this segment 's growth is the growing perception regarding vehicle safety among mid-priced vehicle owners. However, the luxury vehicle segment is expected to expand at the highest CAGR of 24.1% during the analyzed period.

Additionally, for better investigation and penetration of Automotive Radar Market, the report provides an in-detailed analysis of automotive radar adoption across the world. The market is classified into distinct regions that are 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 the Middle East and Africa ( UAE, KSA, Algeria, Kuwait, Egypt, Qatar and rest of MENA). Europe is the largest revenue contributor in the automotive radar market, due to the region’s strict implementation of safety regulations for automotive safety and technical innovation with key players headquarters based in the region are major factors attributing to the development of the European market.

The report also covers in-detailed competitive landscape including company profiles of key players operating in the global automotive radar market. Some of the key players include Robert Bosch GmbH, HELLA KGaA, Texas Instruments Inc., Continental AG, Aptiv PLC, Denso Corporation, Valeo S.A., Analog Devices Inc., Infineon Technologies AG, and NXP Semiconductors N.V. The in-detailed view of the competitive landscape includes key mergers & acquisitions, future capacities, financial overview, new product launches, new product developments, partnerships, collaborations, and other developments with company key facts.

Global Automotive Radar Market Segmentation
Market Insights, by Radar Range
• Long Range RADAR (LRR)
• Short & Mid-Range RADAR (SRR&MRR)

Market Insights, by Application
• Adaptive Cruise Control (ACC)
• Autonomous Emergency Braking (AEB)
• Blind Spot Detection (BSD)
• Collision Avoidance System (CAS)
• Intelligent Parking Assistance (IPA)
• Other

Market Insights, by Frequency Band
• 2X-GHz
• 7X-GHz

Market Insights, by Vehicle type
• Passenger Vehicles
• Luxury Vehicles
• Commercial Vehicle

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Market Insights, by Region
• North America
• Europe
• Asia-Pacific
• Latin America
Top Companies Profiled
• Continental AG
• Robert Bosch GmbH
• Delphi Automotive PLC
• Denso Corporation
• Infineon Technologies AG
• NXP Semiconductors N.V.
• Valeo S.A.
• Hella KGaA Hueck & Co.
• Analog Devices Inc.
• Texas Instruments Inc.

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About UnivDatos Market Insights

UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.

Category : technology

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