Global Automotive Radar Market is expected to reach
USD 12.16 billion by 2025, growing
at a CAGR of 20.8%, according to a study conducted by Grand View Research, Inc.
The growing focus on active safety features, innovations in the radar
technology, decreasing prices of components, and increasing sales of vehicles
are the propelling factors for market growth. Radars play a vital role in
detecting objects in various safety systems including adaptive cruise control,
pedestrian detection system, blind spot detection, and automated emergency
braking.
In order to achieve
complete vehicle autonomy, it is essential for automakers to focus on the
enhancement of the radar technology and subsequently on the reduction in the
size of radar systems. One of the major hurdles hampering the growth of
automotive radars is the lack of uniform frequency allocation across the globe.
Moreover, the use of higher frequency band is likely to lead to higher
resolution benefits and promote the use of a single technology for all
applications, thereby reducing the risk of mutual interference. The European
Commission has already initiated the 79 GHz project for vehicular radars, which
has been the foundation for the future development of the automotive radar
market.
The market is
characterized by the presence of prominent automotive electronics manufacturers
including Continental AG, Robert Bosch GmbH, Infineon Technologies AG, and
Texas Instruments, among others. Strong R&D capabilities have led to the
development of application-oriented radars. Additionally, they have assisted
radar manufacturers in complying with different frequency standards present in
different countries.
According to the
World Health Organization, globally 1.25 million people suffer from death due
to road traffic crashes each year. Road accidents are likely to become the
seventh leading cause of death by 2030 if appropriate measures to increase
vehicle safety are not taken. Thus, the need to protect drivers and passengers
from potential accidents would play an important role in determining the growth
of the automotive radar market.
Full Research Report on Global Automotive Radar Market
Analysis:
Further key findings from the study suggest:
- Medium & short range radar is the
fastest growing segment in terms of range, owing to their growing use in
numerous applications, such as blind spot detection, lane change assist,
and park assist, among others.
- In terms of vehicle types, the passenger
car segment is projected to drive the market, owing to the rising
radar-based safety systems in mid-priced passenger cars.
- Adaptive Cruise Control (ACC) is
projected to hold the largest market size by 2025 owing to rising safety
concerns among growing automotive markets such as India and China.
- Increasing efforts from the National
Highway Traffic Safety Administration (NHTSA), the Insurance Institute for
Highway Safety, and prominent automakers operating in the U.S. for
mandating the installation of AEBs in all cars by 2022 are likely to boost
the automotive radar market.
- The European region held the largest
market size in 2016, which is attributed to the increased stringency in safety
norms and NCAP rating.
- The Asia Pacific region is projected to
grow at the highest CAGR owing to the rapid adoption of radar-based safety
features and increasing vehicle production.
View more reports of this category by Grand View Research
at: http://www.grandviewresearch.com/industry/automotive-and-transportation
Grand View Research has segmented the Global Automotive
Radar Market on the basis of range, vehicle type, application, and region:
Range Outlook (Revenue, USD Million; 2014 - 2025)
- Long Range
- Medium & Short Range
Vehicle Type Outlook (Revenue, USD Million; 2014 - 2025)
- Passenger Cars
- Commercial Vehicles
Application Outlook (Revenue, USD Million; 2014 - 2025)
- Adaptive Cruise Control (ACC)
- Autonomous Emergency Braking (AEB)
- Blind Spot Detection (BSD)
- Forward Collision Warning (FCW)
- Intelligent Park Assist
- Other ADAS
Systems
Regional Outlook (Revenue, USD Million; 2014 - 2025)
- North America
- U.S.
- Mexico
- Canada
- Europe
- UK
- Germany
- Asia Pacific
- China
- India
- Japan
- South America
- Brazil
View press release of this research report by Grand View
Research:
About Grand View Research
Grand View Research,
Inc. is a U.S. based market research and consulting company, registered in the
State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
