San Francisco, 13 February 2019: The Report Automotive Radar Market Analysis By Range (Long Range, Medium & Short Range), By
Vehicle Type (Passenger Cars, Commercial Vehicles), By Application, By
Frequency, By Region, And Segment Forecasts, 2018 - 2025
The 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.
Access Research Report of Automotive Radar Market @ www.grandviewresearch.com/industry-analysis/automotive-radar-market
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.
Browse more reports of this category by Grand View
Research at: 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
·
Europe
·
Asia Pacific
·
South America
Access Press Release of
Automotive Radar Market@ www.grandviewresearch.com/press-release/global-automotive-radar-market
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.
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