Market Research Report
Automotive Radar Market, By Range, By Frequency, By Vehicle, By Application, By End-User, and By Geography - Analysis, Share, Trends, Size, & Forecast From 2020 - 2026
|Published by||AnalystView Market Insights||Product code||930128|
|Published||Content info||198 Pages
Delivery time: 2-3 business days
|Automotive Radar Market, By Range, By Frequency, By Vehicle, By Application, By End-User, and By Geography - Analysis, Share, Trends, Size, & Forecast From 2020 - 2026|
|Published: March 1, 2020||Content info: 198 Pages||
Automotive radar market was valued at USD 3.69 billion by 2019, growing with 20.5% CAGR during the forecast period, 2020-2026
Automotive radar is used to detect the objects present nearby cars, and it comprises a receiver and a transmitter. The transmitter emits radio wave which reflects back after hitting the object and is received by the receiver. By knowing the radio wave direction, it is possible to calculate the distance between the car and the object. With the rise in awareness of road safety among people, and the increase in demand for the comfortable ride will bolster the market in the coming years. Moreover, the stringent rules and regulations regarding safe driving will fuel up the industry during the forecast period. However, the rise in the cost of vehicles with complex structures along with dependency on weather conditions may hamper the market.
As per the World Health Organization (WHO), if the strict actions are not taken on road safety until 2030, the death because of road accidents will become the seventh leading reason globally. Implementation of automotive radars will not only avoid road accidents but will also set a good example of vehicle automation.
The industry is classified into three segments, namely; long-range, medium & short-range RADARs. Short, and medium-range radars showed their dominance in 2016 and are anticipated to lead this rapidly growing industry. These radars contain facilities such as lane change assistance, blind-spot detection, and parking assistance. With the decline in radar prices, and inclination in demand for more than two radars in a vehicle for greater efficiency is anticipated to drive the industry.
Long-range radars are used to calculate the speed and distance of the vehicle. Medium-range radars are employed to detect the objects present with a wide field of view. Whereas, short-range radars are suitable for sensing the objects present in the vicinity, for instance, parking area.
Based on the frequency, the industry is bifurcated into 7X-GHz and 2X-GHz. Among these, 7X-GHz is projected to witness great demand, and this is because of the benefits it offers to the ADAS applications. These radars find the huge requirement in the emergency braking system, collision avoidance system, and adaptive cruise control. These technologies are experiencing high rise because of better resolution, and capability.
As per vehicle, the industry is segmented into commercial, and passenger vehicles. Passenger vehicles will grab the highest market during the forecast period as compared to the commercial one, and the reason behind this is the awareness among people regarding road safety. As per OICA, the passenger cars gained a hike of 4.5%, and leading vehicle manufacturing companies like Mercedes-Benz has confirmed that they sold 2.8 million cars in 2016. As these passenger cars are integrated with efficient radar systems, their demand is estimated to reach at a peak in the near future.
Based on application the market is divided into Adaptive Cruise Control (ACC), forward collision warning (FCW), Autonomous Emergency Braking (AEB), Intelligent park assist, and blind-spot detection (BSD). ACC is projected to have the highest potential to capture the industry in the coming years. The credit of this growth goes to its advantages which it offers such as vehicle safety, and rise in autonomous level. National Transport Safety Board U.S. has considered ACC in its ten most wanted safety improvements list. All such things are pointing towards the better future of ACC.
Europe is anticipated to lead the radar market during the forecast period. European countries like Germany is known for the quick adoption of new technologies. German auto manufacturers are known for the production of 70% of premium cars. Also, the country invests almost one-third of its revenue in research and development. Hence the German market is estimated to capture the highest market share by 2025. The Asia Pacific is also projected to lead the industry because of the increase in disposable income, and low-cost involved in vehicles manufacturing.
The major industries showing their dominance in this market are Continental AG, HELLA KGaA Hueck & Co., Infineon Technologies AG, ZF Friedrichshafen AG, Robert Bosch GmbH, Texas Instruments Incorporated (TI), Denso Corporation, Valeo, Autoliv Inc., and NXP Semiconductors. In October 2016, Bosch came up with Tesla Model, which was the first self-driving car in Australia. This vehicle comprises of six Radars, stereo video camera, six laser sensors, and excellent quality GPS.
The market size, and forecast for each segment, and sub-segments has been considered as below:
Historical Year - 2015 & 2018
Base Year - 2019
Estimated Year - 2020
Projected Year - 2026
Traders, Distributors, and Suppliers
Government, and Regional Agencies
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
HELLA KGaA Hueck & Co.
Infineon Technologies AG
ZF Friedrichshafen AG
Robert Bosch GmbH
Texas Instruments Incorporated (TI)
MARKET, BY RANGE
Medium & Short Range Radar
MARKET, BY FREQUENCY
MARKET, BY VEHICLE
MARKET, BY APPLICATION
Adaptive Cruise Control (ACC)
Autonomous Emergency Braking (AEB)
Blind Spot Detection (BSD)
Forward Collision Warning (FCW)
Intelligent Park Assist
Other ADAS Systems
MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of LATAM
The Middle East, and Africa
United Arab Emirates
Rest of MEA