Global Automotive RADAR Market Research Report 2019-2026
Summary - A new market study, titled “Global Automotive RADAR Market - 2019-2026 ” has been featured on WiseGuyReports.
The global Automotive Radar market expected to
reach $XX billion by 2026, at a CAGR of over 24% during the forecast period.
The major trends in automotive radar market include higher focus on safety with
the inclusion of 360 degrees vehicles surveillance, object identification,
rear-end crash avoidance, and among others.
RADAR, an acronym for Radio Detection and Ranging, is an
electronic equipment used for tracking an object. Automotive RADAR is a system,
which detects objects within its radius using radio waves to determine the
spread area, angle, and speed. It was initially developed for the defense &
military purpose but is used in automobiles due to the ongoing technological
innovations. With the rise in integration of these technologies by automobile
manufacturers into vehicles to make them future ready. Therefore, it is
expected to fuel demand in the global market over the forecast period.
The report covers all the major trends and drivers playing a vital role in the
growth of the global Automotive Radar market. The global Automotive Radar market
has been segmented based on region, range, and application.
Market Dynamics
The global Automotive Radar market growth is primarily driven by the rise in
electric vehicle sales all around the world owing to the favorable government
policies to reduce pollution by switching to electric vehicles. According to
International Energy Agency (IEA), in 2017, more than one Billion EVs were sold
globally, with countries like Norway, China, and the US dominating the global
EVs market in terms of market share.
Moreover, rising interest & funding towards autonomous and electric cars
coupled with technological advancements is expected to further fuel growth in
the global market. Manufacturers have increased spending to R&D so as to
introduce new technologies. For instance, Tesla Autopilot is an advanced
driver-assistance system feature offered by Tesla that has lane centering,
adaptive cruise control, self-parking, the ability to automatically change
lanes, and the ability to summon the car to and from a garage or parking spot.
In addition, increase in adoption of ADAS technology and rising government
regulations for vehicle safety will further boost market growth over the
forecast period.
Market Segment Analysis
By application, the global Automotive Radar market is segmented into Advanced
emergency braking system (AEBS), Forward collision warning system (FCW),
Adaptive cruise control (ACC), and Others. In 2018, AEBS accounted for majority
share in the global market and is expected to continue to dominate over the forecast
period. AEB is now a requirement in Europe for new cars to reach the maximum
rating in order to protect vulnerable road users such as pedestrians and
cyclists. The same trend is occurring in the U.S. with 20 OEMs committed to
making AEB systems standard equipment in any new car by 2022. Therefore, AEB
segment is expected to witness significant growth over the forecast period.
By range, the global Automotive Radar market is segmented into Long Range
RADAR, Short Range RADAR, and Medium Range RADAR. Automotive RADARs as core
sensor (range, speed) of driver assistance systems: long range (LRR) for
Adaptive Cruise Control, medium range (MRR) for cross traffic alert and lane
change assist, short-range (SRR) for parking aid, obstacle/pedestrian
detection. Moreover, the rise in adoption of RADAR in mid-range passenger
vehicles is further expected to boost demand for automotive radars over the
forecast period.
Regional Analysis
By geography, the global Automotive Radar Market is segmented into North
America, Asia-Pacific (APAC), Europe, South America, and the Middle East and
Africa (MEA).
Europe holds the largest market share for Automotive Radar Market as this
region is more technological advanced in terms innovative automotive RADAR
sensors coupled with stringent government regulations. For instance, the
European Parliament and Council, AEB with pedestrian detection has now been
included in the European Commission’s latest package of road safety measures.
To be applied from 2021, along with Intelligent Speed Assistance, the vehicle
safety requirements will help avoid 25,000 deaths and 140,000 serious injuries
by 2038. In parallel the United Nations World Forum for Harmonization of
Vehicle Regulations has now developed a draft international standard for AEB
that will make it far easier for countries around the world to also mandate
this life saving technology.
In Asia-pacific region major contributor to the market share are developing
countries like China, Japan, and India. The rise in sales of passenger cars in
the region is having direct impact on the automotive Radar market. The rise in
population and increase in income per capita income are majorly driving the
automotive industry in the region. Therefore, APAC region is expected to post
highest CAGR over the forecast period.
Competitive Analysis
Key players are adopting strategies such as investing in R&D, new product
launches, expansion in distribution channels to stand out as strong competitors
in the market. Global Automotive Radar Market is a fragmented market with the
presence of various global and regional players in the market.
The major players include NXP Semiconductors, Veoneer, ZF Friedrichshafen,
Robert Bosch GmbH, HELLA KGaA, Continental AG, Denso Corporation, Delphi
Automotive PLC, Autoliv Inc., Valeo S.A., and among others.
In 2018, DENSO Corporation took stake in Metawave Corporation, a U.S. startup
company that develops cutting-edge, millimeter-wave radar sensing technologies
to detect vehicles and pedestrians.
In 2017, ZF Friedrichshafen acquired approximately 45% of the shares in Astyx
Communication & Sensors, a manufacturer of radar sensors and modules for
the automotive and other industries.
Why Purchase the Report?
• Identify new growth opportunities with In-depth insights for strategic
business plans and design innovative strategies for sustainable growth.
• Comprehensive details on factors that will drive or challenge the growth of
market players.
• Product mapping in excel for the key products of all major market players
• Deep Sector-Specific Intelligence
• Attractiveness and consumer behavior analysis for every region
• Highlights of the competitive landscape
Target Audience:
• Equipment Suppliers/ Buyers
• Service Providers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies
• Manufacturers
**The global Automotive Radar market report would provide access to an
approx.,61 market data table, 55 figures, and 150 pages.
FOR MORE
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