Global Automotive Radar Market Research Report- Forecast 2023 | PMR

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. 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 system can determine a particular driving situation and warn the driver in potential 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.

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.

Insights Presented in the Report:

On the basis of range of the radar, the market is segment in Short Range Radar and Medium Range Radar and Long Range Radar. In 2017, short and medium range radar held the maximum revenue share and the same is expected to follow during the forecast period 2018-2024 .
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.

Based on different frequency band, the global automotive radar market is fragmented in 2X GHz and 7X GHz. In 2017, 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 2024.
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 2017, 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 23.3% during the forecast period 2018-2024.

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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, Taiwan 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 . In 2016, North America was the largest market in value terms, owing to the stringent safety regulations in the region. Increased awareness towards safety features has also fuelled the demand in the region. 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.

Top Companies Profiled:

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 the Report:

The study includes market sizing and forecasting analysis validated by authenticated key industry experts
The report presents a quick review of overall industry performance at one glance
The report covers in depth analysis of prominent industry peers with primary focus on key business financials, product portfolio, expansion strategies and recent developments
Detailed examination on 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
Deep dive regional level analysis of the industry

Customization Options:

The Global Automotive Radar Market can be customized to country level or any other market segment. Besides this, UMI understands that you may have your own business need, hence we also provide fully customized solutions to clients.

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