Global Automotive Radar Market Insights 2019: Emphasis on Radar Range (Short Range Radar and Mid-Range Radar (SandMRR), Long Range Radar (LRR)), Applications till 2024
Global Automotive Radar Market Research Report Forecast from 2019 to 2024
Automotive radar is defined as distance sensors which are used to locate objects around the vehicle’s proximity. Road traffic crashes have become a major global challenge. Every year millions of people are known to die in road accidents and get seriously injured. This led to the development of significant technology of road safety. The automotive radar technology has been identified as an imperative technique to improve road safety and enhance driving experience. This technology is being widely adopted in passenger cars and commercial vehicle across the globe. Radar is a method of using radio waves which is used to determine the angle, range, and relative speed of objects across its vicinity. In today’s vehicle safety systems, radars is used in conjunction with cameras, infrared, ultrasonic and other technologies to acquire information about the vehicle’s surroundings. With this information these system can determine a particular driving situation and warn the driver in potential dangerous event. It can also command the vehicle on its own and reduce the accident’s severity.
These features have brought a new revolution in driving experience which has shifted the trend of advanced driver assistance system (ADAS) to automated driving or auto pilot. Changing vehicle safety regulation, increase in adoption of advanced driver assistance system (ADAS) technology and increasing number of radar sensors used per vehicle are the major growth drivers of the market. Stringent government regulations, mandating rear-view camera system and lane departure warning technologies in vehicles which has also stimulated the growth of the automotive radar market in several countries. In addition, growing adoption of ADAS technology across mid-priced and premium segment vehicle has further fueled the growth of the market on a global scale. However, increase in the overall cost of vehicle and illegalities of radar detectors in some countries are restricting the market growth.
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Some of the leading players in the market are Robert Bosch GmbH, HELLA KGaA, Continental AG, Denso Corporation, Aptiv Plc, Valeo S.A., Infineon Technologies AG, Texas Instruments Inc., Analog Devices Inc. and NXP Semiconductors N.V. These players are entering into several competitive strategies (partnerships, merger-acquisitions, joint venture, new product launch, business expansion and others) with each other or other supplier or automotive OEMs to strengthen their position in the Global automotive Radar market.
The study also analyses the global automotive radar market across different vehicle types that includes passenger vehicles, luxury vehicles and commercial vehicles. Among different vehicle types, passenger cars held the maximum share in 2017, however due to increase in demand of radar system in high end vehicles, the luxury vehicles segment is anticipated to be the fastest growing market segment growing at a CAGR of 23.3% during the forecast period (2018-2024).
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To analyze the growth potential of the automotive radar industry the report is further analyzed based on different geographies and countries including North America (U.S., Canada, Mexico and rest of North America), Europe (Germany, France, U.K., Russia, Italy, Spain and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Taiwan and rest of Asia-Pacific), Latin America (Brazil, Argentina, Chile and rest of Latin America) and Middle East and Africa ( UAE, KSA, Algeria, Kuwait, Egypt, Qatar and rest of MENA). In 2016, North America was the largest market in value terms, owing to the stringent safety regulations in the region. Increased awareness towards safety features has also fueled the demand in the region. The European region is estimated to be the largest market for automotive radar during the forecast period. Substantial build up in this market is mainly due to the adoption of advanced technologies and stringent vehicle safety regulation.
Some Major TOC Points:
Global Automotive Radar Market Report (Status and Outlook) 2019
1 Market Introduction
2 Legal & Regulatory Framework
3 Research Methodology Or Assumption
4 Industry Performance
5 Executive Summary
6 Market Overview
7 Market Insights By Deployment Type
8 Public Cloud Insights By Services
9 Private Cloud Insights By Services
10 Market Insights By End User Industry
11 Market Insights By Country
12 Competitive Scenario
13 Company Profiles
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