Summary

Automotive Radar Market Growth, Research Report, Application (Lane Change Assist , Adaptive Cruise Control , Autonomous Emergency Braking , Blind Spot Detection , Forward Collision Warning System ), Vehicle Type, By Range and region– Forecast till 2023

Automotive Radar Market Overview

As per a detailed analysis by Market Research Future, the global Automotive Radar Market is estimated to garner a CAGR of 19.26% during the forecast period (2017-2023). Radar sensors extensively use Frequency Modulated Continuous Wave (FMCW) radar in order to detect stationary or moving objects. They are generally used for collision avoidance and other technology-driven safety features and are also used to detect distance and speed of the vehicle to prevent accidents. The use of radar sensors will help to minimize road accidents, thereby increasing driver safety.

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.

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On the contrary, the high cost of radar sensors and its corresponding technology is considered one of the key factors restricting the growth of the market in the foreseeable future.

Competitive Dashboard

The top players operating in the Automotive Radar Market comprises HELLA KGaA (Germany), Robert Bosch GmbH (Germany), Denso Corporation (Japan), Continental AG (Germany), Valeo S.A (France), Autoliv Inc. (Sweden), NXP Semiconductors N.V (Netherlands), Infineon Technologies AG (Germany), InnoSenT - Innovative Radar Sensor Technology (Germany), Texas Instruments Incorporated. (U.S.) Kestrel Radar Sensors (England), First Sensor AG (Germany), FUJITSU TEN Ltd. (Japan), and ZF Friedrichshafen AG (Germany).

Automotive Radar Market: Segmental Analysis

The Automotive Radar Market is segmented on the basis of range, application, and vehicle type.

By mode of application, the Automotive Radar Market is segmented into Adaptive Cruise Control (ACC), Lane Change Assist (LCA), Blind Spot Detection (BSD), Autonomous Emergency Braking (AEB), Forward Collision Warning System (FCWS) and others. Among these, the ACC segment is likely to dominate the application segment as it allows the vehicle to adjust the speed automatically and maintain the safe distance between two vehicles.

Based on range, the Automotive Radar Market growth is segmented into short range, medium range, and long range. Among these, the short-range radar sensors segment is likely to dominate the future market owing to the extensive use of short-range sensors in adaptive cruise control systems.

The vehicle type segment comprises a commercial vehicle and passenger car.

Regional Frontiers

Geographically, the Automotive Radar Market spans across Asia Pacific, Europe, North America, and the Rest-of-the-World (RoW).

Considering the global scenario, the North American region is estimated to acquire the lion’s share in the global market due to the development of increased safety feature systems in the vehicles. The surging demand for radar sensors is likely to spur the growth of the regional market. There is an increasing demand for high-end premium cars with increased safety and facility. With the surging demand for high-end premium cars installed with latest technologies has resulted in the growth of the Automotive Radar Market growth in the region.

Europe bags the second spot in the global market owing to the rising production of commercial and passenger vehicles. In this region, Germany is anticipated to dominate due to the increased production and sales of vehicles. The existence of industry bigshots and the presence of a well-established automotive market has further spurred the production of vehicles, thereby boosting the growth of the regional market.

The Asia Pacific region shows significant growth with the surging production of new vehicles, especially in emerging nations like Japan, China, and India. Moreover, consumers highly demand high-end technologies in the vehicles which contribute to the growth of the market in this region. The extensive adoption of ADASs in the automotive sector is considered a major factor influencing the growth of the regional market.

Industry Updates

June 03, 2019: Radar has found a new place in self-driving technology. For two decades radar has been a staple of driver-assist systems for detecting an obstacle, but not recognized as a tool for localization. Venture capital has flowed into camera-based and lidar solutions for automated vehicles, where radar is viewed as a commodity. A recent spinoff from the Lincoln Laboratory of MIT has revealed innovation being wrung from radar. Companies like Lunewave, Bosch, and WaveSense are considering the role of radar in mobility.

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