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
DETAILS: https://www.wiseguyreports.com/reports/5613274-global-automotive-radar-market-2019-2026
About Us:
Wise Guy
Reports is part of the Wise Guy Research Consultants Pvt. Ltd. and offers
premium progressive statistical surveying, market research reports, analysis
& forecast data for industries and governments around the globe.
Contact Us:
NORAH
TRENT
Ph:
+162-825-80070
(US)
Ph: +44 203 500
2763 (UK)
Comments
Post a Comment