Global Automotive Radar Market

Automotive Radar Market is expected to witness a higher CAGR over the upcoming years, due to the advancements in the radar technology and increasing emphasis on active safety features.

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Major Automotive Radar Market Drivers

Increasing incidences of road accidents to comply with safety features in automobiles for safer mobility stands to be one of the major factors fueling the automotive radar market. Increasing implementation of strict regulations and initiatives to develop vehicle safety systems is expected to augment the market growth. Besides this, the emerging trend of autonomous vehicles and the automation of vehicles have augmented the demand for automotive radars, which is expected to boost the market growth. Moreover, ongoing technological innovations in the automotive sector, such as the advent of high-performance compact radars at low manufacturing costs, increasing road accidents, and advancements in automotive technology to prevent traffic accidents, are projected to strengthen the automotive RADAR market growth. For example, as per the World Health Organization, globally 1.25 million people die because of the road traffic crashes each year. Also, road accidents are projected to become the seventh leading cause of death by 2030. Thus, the emerging need to prevent drivers and passengers from potential accidents will bolster the market growth.

Increasing focus on active safety to minimize road accidents has inclined OEMs attention to develop and incorporate new and advanced automotive radar systems, which will offer enormous opportunities to the market. Government agencies have encouraged the implementation of advanced safety features in the autonomous and semi-autonomous vehicles are projected to expand the market growth. For instance, National Highway Traffic Safety Administration (NHTSA) has enforced strict norms on the vehicle safety such as air brake systems, and air bag deactivation. However, the high cost of devices and solutions installation might hamper the automotive radar market size.

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Range Segment Analysis

Short & Medium Range RADAR (S&MRR) is estimated to lead the market growth over the forthcoming years, due to their growing use in the vehicle safety system. Several benefits associated with the deployment of S&MRR includes help in changing lane, blind spot detection, and park assistance which have encouraged their application, driving the market growth. Reduction in prices along with the emerging need to implement more than two RADARs per vehicle to improve the safety are likely to accelerate the segment growth prominently in the coming years.

Application Segment Analysis

Park assistance application is projected to witness a faster CAGR over the upcoming years, due to the growing demand for parking assistance to impede back side collision The adaptive cruise control (ACC) category is forecast to lead the market, due to the growing demand for radar-equipped ACC systems in semi-autonomous vehicles, owing to the capability of radars to operate in adverse weather conditions. Moreover, increasing safety concerns among the rising automotive markets like India and China have stimulated the market growth. In addition, the remarkable benefits of automotive radars in vehicle safety have encouraged the National Transport Safety Board, U.S. to incorporate the ACC systems in its ten most rated safety improvements for vehicle, which is projected to boost the market growth.

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Regional Analysis

Asia Pacific is expected to lead the automotive radars market over the forecast period, due to rising automotive sales especially in India and China. Moreover, rising incidents of vehicular accidents and greater awareness about the benefits associated with driving assistance features which include collision warning systems are projected to boost the market size.

The European market is predicted to hold a higher share over the forecast period because of the strict vehicle safety norms enforced by the government in Germany, UK, and other European countries. For example, from 2020 onwards, Euro NCAP has assessed the functionality of AEB car-to-car systems and introduced a specially designed testing system called the Global Vehicle Target for this purpose. Hence, these factors are responsible for the substantial growth of the market in this region.

Top Market Players

Key players in this market includes Bosch Group, Denso Corporation, Veoneer Inc., Texas Instruments, ZF Friedrichshafen AG, Harman International, HELLA KGaA, NXP Semiconductors, PathPartner, Continental AG, Delphi Automotive etc.

KEY INDUSTRY DEVELOPMENTS:

• • In 2021 – Continental integrated AEye’s long-range LiDAR technology into its full sensor stack solution to generate its first full-stack automotive-grade system for Level 2+ up to Level 4 automated and autonomous driving applications.
  • In 2021 –Continental presented the sixth generation of surround radar and long-range radar at Auto Shanghai 2021. These sensors are incorporated with a hardware and software platform, reducing complexity and thus costs.
  • In 2019, Infineon Technologies AG unveiled its plan to increase the capacity of its production facility in Linz, Austria, where 77 gigahertz (GHz) radar chips for ADAS systems are manufactured. The expansion of the plant is planned to be completed in the summer of 2020.

Segments covered in the Report:

The global automotive radar Market has been segmented on the basis of range type, vehicle type applications, frequency and geography – opportunity and forecast 2019 – 2026. Based on range type, the market comprises of long-range radar and short & medium range radar. Based on vehicle type segment market categorised into commercial and passenger. Based on application the market classified into Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Blind Spot Detection (BSD), Collision Warning System, Parking Assistance and Others. On the basis of the frequency the market classified into 24 GHz and 77 and 79 GHz.

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Market Segmentation

By Range Type

• Long Range Radar
• Short & Medium Range RADAR

By Vehicle Type

• Commercial
• Passenger

By Application

• Adaptive Cruise Control (ACC)
• Autonomous Emergency Braking (AEB)
• Blind Spot Detection (BSD)
• Collision Warning System
• Parking Assistance
• Others

By Frequency

• 24 GHz
• 77 GHz
• 79 GHz

By Geography

North America
As a part of customization

• By Range Type
• By Vehicle Type
• By Application
• Frequency
• US
• Canada
• Mexico

Europe
As a part of customization

• By Range Type
• By Vehicle Type
• By Application
• Frequency
• UK
• Germany
• Spain
• Rest of Europe

Asia-Pacific
As a part of customization

• By Range Type
• By Vehicle Type
• By Application
• Frequency
• China
• Australia
• India
• Rest of APAC

ROW (rest of the world)
As a part of customization

• By Range Type
• By Vehicle Type
• By Application
• Frequency
• Brazil
• South Africa
• GCC countries
• Rest of world (remaining countries of the LAMEA region)

Key market players here are

• ABB Bosch Group
• Denso Corporation
• Veoneer Inc.
• Texas Instruments
• ZF Friedrichshafen AG
• Harman International
• HELLA KGaA
• NXP Semiconductors
• PathPartner
• Continental AG
• Delphi Automotive etc.