The Automotive Radar report evaluates critical aspects of the industry about the existing and projected market during the forecast years. It also lists the market drivers, threats, the latest trends, growth prospects, pertaining to the leading vendors in the global Automotive Radar sector. The study offers the users with accurate market insights and the popular expansion strategies executed by the leading companies in the market to get a competitive advantage. This report on the Automotive Radar market includes the investors and stakeholders engaged in the industry and other professionals engaged in the wellness programs and services for already established companies and new entrants attempting to strengthen their presence in the market.
Automotive Radar Market Size – USD 3.10 Billion in 2018, CAGR of 25.6%, Automotive Radar Industry Trends – Increase in demand for 77 GHz range automotive radar in both the premium and mid-range car segments.
The global automotive radar market is forecast to reach USD 19.31 Billion by 2026, according to a new report by Reports and Data. Automotive radar helps locate objects surrounding the car with the help of the transmitter and receiver of the radar system. The transmitter of the radar system emits radio waves that stumbles into the object and bounces back to the receiver of the radar, providing information on the real-time location of the objects around the vehicle. The global market is growing at a substantial pace due to the growing demand for advanced driver-assistance systems (ADAS) in all the vehicle types. The massive penetration for the futuristic driverless autonomous vehicles throughout the world influentially propels the market owing to its low-cost, high-performance safety additive deployment in the automotive systems. The most prominent constraints for the vehicular radar market is the laser-based solution, LIDAR, which is based on a higher resolution monitoring and provides more accurate detection than radar.
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Most exhaustive List of Top key vendors in Automotive Radar Market are:
Continental AG, Robert Bosch GmbH, Infineon Technologies AG, Denso Corporation, Valeo, NXP Semiconductors N.V., Texas Instruments Incorporated, Autoliv Inc., Delphi Technologies, and Hella KGaA Hueck & Co
Applications Outlook (Revenue, USD Billion; Volume, Thousand Unit; 2016-2026)
- Adaptive Cruise Control
- Autonomous Emergency Braking
- Collision Mitigation & Warning System
- Blind Spot Detection
- Turing Assistance
- Rear Clash & Collision Aids
- Parking Control Aids
- Other ADAS
Frequency Band Outlook (Revenue, USD Billion; Volume, Thousand Unit; 2016-2026)
- 24 GHz
- 77 GHz
Level of Vehicle Automation Outlook (Revenue, USD Billion; Volume, Thousand Unit; 2016-2026)
- Level (0-2)
- Level (3-4)
- Level (5-6)
Vehicle Type Outlook (Revenue, USD Billion; Volume, Thousand Unit; 2016-2026)
- Budget Passenger Vehicle
- Mid-Range Passenger Vehicle
- Premium Passenger Vehicle
- Commercial Vehicle
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Asia Pacific market is forecasted to generate a revenue of USD 5.85 Billion in the year 2026, owing to its extensive demand for radar system in all the vehicle types coupled with the considerable market penetration in the driverless autonomous cars and elevated growth in the overall automotive industries in China, Japan, and India. The United States possesses the highest market worldwide while Germany and the Netherlands hold some of the most prominent players in the market.
Further key findings from the report suggest
- Adaptive cruise control is an advanced self-regulating form of cruise control system that slows down and accelerates automatically to maintain a suitable pace with the car in front of the radar systems while in traffic. Adaptive cruise control sub-segment is expected to hit a market revenue of USD 5.93 Billion by 2026.
- 24 GHz is the short-range radar system used in the automotive. The 24 GHz frequency band radars can cover a distance of up to 20 meters. These short-range radars are low-cost alternatives to the high and mid-range radar systems and used mostly in the budget passenger vehicles. However, this 24 GHz segment is planned to be discontinued by most of the automotive radar manufacturers for its operational inefficiencies. This segment had a market share of about 41.8% in 2018.
- Level (0-2) vehicles automation includes the vehicles with zero autonomous features to a few amount of automation like automatic braking systems, adaptive cruise control, and others. The market revenue for this sub-segment in 2018 was USD 1.78 Billion.
- North America, with its superiority in premium and mid-range vehicles market share and concerns with vehicle and road safety, is accounted to retain its leading position in the market with a market share of about 35.6% by 2026, and the CAGR is calculated to be 25.8% during the forecast period.
Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:
Increasing demand for automotive radar solutions in Level (0-2) vehicle automation system coupled with high investments in R&D of automotive radar are fueling the market growth.
What Global Automotive Radar Market Research Report Offers:
- Global Automotive Radar market shares, drivers, opportunities, constraints, hurdles, threats, and growth prospects.
- Automotive Radar industry carries out detailed estimations at the regional level with manufacturers, sales, consumption, and import/export dynamics.
- Automotive Radar market report offers manufacturers/vendors critical information related to the market, pricing analysis, financial standing, product portfolio, and gross profit of leading companies.
- Automotive Radar market infers a forecast for up to 8 years for the abovementioned segments.
- The study also includes supply chain trends, including elaborate descriptions of the latest technological development.
- Optimum strategic initiatives for new players in the Automotive Radar industry.
- Manufacturing processes, suppliers, cost, rates of production and consumption, transport mode and cost structuring, and value chain analysis.
- Company profiling with prevalent expansion strategies, revenue generation, and recent developments.
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