Automotive RADAR Market is valued at USD 3.6 Billion in 2021 and is expected to reach USD 11.99 Billion by 2028 with a CAGR of 13.78% over the forecast period.
Automotive radars are used generally to trace objects, such as pedestrians and vehicles, in the region of the car. Automotive radar has a transmitter which transfers out radio waves that hit an object to the receiver, which controls the direction or the movement of the car. The demand for automotive radar is predicted to grow during the coming period as the increasing concern related to the safety problems. The automakers are also shifting their aim to autonomous cars from manual cars which in turn will grow the demand for automotive radar.
The global automotive radar market is majorly divided by application, range, vehicle type, and frequency band. By range, the market is divided into medium range radar, long-range radar, and short-range radar. By application the automotive radar market is segmented into cruise control (ACC), intelligent parking assistance (IPA), adaptive autonomous emergency braking (AEB), blind spot detection (BSD), forward collision warning system (FCWS), and others. By frequency band, the market is divided into 7X-GHz and 2X-GHz. By vehicle type, automotive radar market is divided into the economic passenger vehicle, commercial vehicle, mid-priced passenger vehicle, and luxury passenger vehicle. Strict government regulations and rules for the security purpose and programs taken by different governments in the field of radar systems have motivated the growth of vehicle safety systems and are hence predicted to power the employment of radar-based security systems which in turn will power automotive radar market.
The blind spot detection section is predicted to add up for the biggest share, in terms of volume, of the automotive radar based ADAS applications, and is predicted to develop at a good pace. For example, the European parliament has obliged the employment of AEBS (Advanced Emergency Braking System) and ESC (Electronic Stability Control) since November 2015. The system is predicted to be fitted in all new commercial cars more than 3.5 tons. According to the newest Euro NCAP rating, the models which have AEB together with other ADAS functions such as FCW and ACC, will get enhanced security ratings. This regulatory decision is further predicted to power the RADAR based ADAS market.
The major players included in the global automotive RADAR market forecast are,
The major factors which are accountable for the development of the automotive radar market are the growing requirement for safer mobility and increase in the number of road accidents. Together with this increasing trend of autonomous vehicles paired with increasing vehicle electrification is predicted to power the development for automotive radar market. Strict government regulations and rules for the security purpose and programs taken by different governments in the field of radar systems have motivated the growth of vehicle safety systems and are hence predicted to power the employment of radar-based security systems which in turn will power automotive radar market. Together with this, the drop in the costs of electronic systems employed in cars and enhancements in the automotive tech are expected to support the employment of automotive radar.
Europe Led The Global Automotive Radar Market And Is Predicted To Develop At A High Speed Over The Coming Period
Regionally, the global automotive radar market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Europe led the global automotive radar market and is predicted to develop at a high speed over the coming period. Europe rules the market owing to the strict vehicle security norms laid down by the EC (European Commission). Moreover, the German automakers have higher share in production of the premium cars all over the world. Together with this, the Germany firms invest approximately 33% of the income on R&D development. Thus, the German market is predicted to develop during the coming period. Asia Pacific area is also predicted to surface as the highest developing region, owing to the low-cost advantages comprised in the making of vehicles in this area.
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 3.6 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||13.78%|
|Market Size Expected in 2028:||USD 11.99 Billion|
|Tables, Charts & Figures:||175|
|Key Players/Companies||HELLA KGaA, Robert Bosch GmbH, Denso Corporation, Continental AG, Autoliv Inc., Delphi Automotive PLC, Valeo S.A., and others.|
|Segments Covered||By Frequency Type, By Vehicle Type, By Application|
|Regional Analysis||North America, U.S., Canada, Europe, Germany, France, U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe, Asia-Pacific, South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC, Latin America, Mexico, Colombia, Brazil, Argentina, Peru, Rest of South America, Middle East and Africa, Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA|
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