Automotive Radar Market Size & Share

 

Automotive Radar Market

Automotive radar market is predicted to grow at a CAGR of 12.20% over the forecast period (2019-2026), reaching a value of 7755 million by 2026. Automotive Radar Market is a medium to locate the objects and provide the driver a safe and smooth driving experience. With the growing incidences of road accidents, the need for safety features in automobiles has increased.

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Rising tendency of autonomous vehicles has bolstered the demand for automotive radars. Growing concern towards safety and augmenting adoption of sophisticated driver-assistance systems by the leading producers for upgrading features have boosted the market size. Factors including a surge in demand for a comfortable driving experience with integrated security features such as parking assistance, airbags, telematics, and collision avoidance will further stimulate the market. Ongoing innovations in the field of radar systems have encouraged the development of vehicle safety and have increased the adoption of radar-based safety systems over the forecast period.

By range, Medium & short-range are anticipated to lead the market over the forecast period. These radars are majorly deployed in safety systems to come across objects in the vicinage of a vehicle. The systems offer remarkable features such as detecting blind spots and helping lane change. Reducing radar prices and evolving the need to use over two radars per system for improved performance are likely to drive the global automotive radar market over the forecast period.

By vehicle type, the passenger cars segment is forecast to expand at a remarkable CAGR during the coming years. Growing awareness of vehicle safety among mid-priced vehicle owners has driven the market growth. As per OICA, globally, the passenger cars segment experienced a surge of 4.5% in 2016. In addition, leading luxury car producers, such as Mercedes-Benz and BMW, witnessed a remarkable expansion in sales, with a unit sales of 2.08 million and 2.3 million cars, respectively in 2016. Additionally, as per the automotive radar market forecast, the expansion across logistics and e-commerce industries has triggered the sales of commercial vehicles.

By region, Europe will expand at a noteworthy CAGR over the forecast period, owing to the strict vehicle safety norms enforced by the European Commission (EC). German automakers account for nearly 70% of the exclusive car's production. Asia Pacific region owing to the cost-effective benefits in the production of vehicles, will fuel the automotive radar market growth.

Leading players in the automotive radar market include Denso Corporation, Veoneer Inc., Bosch Group, ZF Friedrichshafen AG, Harman International, HELLA KGaA, NXP Semiconductors, PathPartner, Continental AG, Delphi Automotive, and Texas Instruments.

Automotive Radar Market Segmentation:

Automotive Radar Market by Range Type
  • Long Range Radar
  • Short & Medium Range RADAR
Automotive Radar Market by Vehicle Type
  • Commercial
  • Passenger
Automotive Radar Market by Application
  • Adaptive Cruise Control (ACC)
  • Autonomous Emergency Braking (AEB)
  • Blind Spot Detection (BSD)
  • Collision Warning System
  • Parking Assistance
  • Others
 
Automotive Radar Market by Frequency
  • 24 GHz
  • 77 GHz
  • 79 GHz
Automotive Radar Market by Region:
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

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GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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