The global automotive radar market is expected to
reach USD 12.16 billion by 2025. 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.
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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.
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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.
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Michelle Thoras
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Suite 3036, San Francisco,
CA 94105, United States
Tel: 1-415-349-0054
Toll Free: 1-888-928-9744
Mail: sales@radiantinsights.com
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