Automotive Radar Sensors Market – Overview

The escalation in demand for collision avoidance and other technology-driven safety features is motivating the radar sensors market. Reports that explore the automobile industry have been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects. The market is projected to be driven by a CAGR 19.26% in the forecast period.

Automotive radar sensors have witnessed a tectonic surge over the past few years due to advancing technology, surging need for safety, and strict mandates from the government. The radar sensors technology is highly dependent on the growth of the automotive industry. The growing production of commercial and passenger vehicles is predicted to impact the growth of the automotive radar sensor market positively. In 2015, the overall production of four-wheeler was 90 million units and was anticipated to surpass 100 million units by 2020.

Segmental Analysis

The study of the segmentation in the automotive radar sensors market is carried out on the basis of application, range, region, and vehicle type. Based on the application, the automotive radar sensors market is segmented into adaptive cruise control (ACC), lane change assist (LCA), blind spot detection (BSD), forward collision warning system (FCWS), autonomous emergency braking (AEB), and others. Based on the range, the automotive radar sensors market is segmented into medium range, short range, and long range. The short-range radar sensors segment is anticipated to direct the growth of the automotive radar sensors market in future owing to the extensive use of those sensors in adaptive cruise control systems. Based on vehicle type, the automotive radar sensors market comprises of passenger and commercial cars. On the basis of regions, the automotive radar sensors market comprises of Asia Pacific, Europe, North America, and Rest of the World.

Regional Analysis   

The regional assessment of the automotive radar sensors market is segmented into Asia Pacific, Europe, North America, and Rest of the World. As per the analysis, the North American region is anticipated to be responsible for the principal market share throughout the forecast period. The development of the augmented safety feature systems in the vehicles is anticipated to raise the demand for radar sensors. The upsurge in demand for radar sensors is projected to push the automotive radar sensors market in this region. The European region is anticipated to be the next principal market owing to the upsurge in manufacture of passenger and commercial vehicles.

Key Players

The important companies in the automotive radar sensors market are HELLA KGaA (Germany), Continental AG (Germany), Denso Corporation (Japan), ZF Friedrichshafen AG (Germany), Robert Bosch GmbH (Germany), Autoliv Inc. (Sweden), Valeo S.A (France), Infineon Technologies AG (Germany), NXP Semiconductors N.V (Netherlands), Texas Instruments Incorporated. (U.S.). First Sensor AG (Germany), Kestrel Radar Sensors (England), InnoSenT - Innovative Radar Sensor Technology (Germany), and FUJITSU TEN Ltd. (Japan) are among others.

Competitive Analysis

The financial inflows in the market are being engrossed towards increasing the discoveries in the essential product offering offered in the market so that the growth doesn’t go off in the forthcoming period. The market has attained a progressive stride in the past few years, which is underlined by the activities in terms of valuation. The upsurge of sponsors in the market has acquired an indispensable role in the development of the market. The decrease in the barriers to trade is projected to encompass advanced areas for expansion in the impending years. The extension of the resources vital to endure against competition has improved extensively leading to a record development rate. The purpose of appropriately bolstering the global economy is being motivated through the expansion of this market as well. The market is well-armed to find the way through the shifting tides, abrupt upheavals, and uncharted waters in the international economy.

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