Automotive Radar Market Analysis - Global Industry Size, Share, Trends and Forecast, 2014 - 2024

Category : Automotive, Transportation and Logistics | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC244

Rising attention towards dynamic safety to lower down the road accidents has moved the focus of original equipment manufacturers towards the development and incorporation of novel and innovative automotive radar systems. Rapidly developing automotive technology and focus on reduction of road accidents has elevated hopes for advance systems in automobiles that include automotive radar to enhance the vehicle safety. Automotive radar system emits EM waves (electromagnetic waves) at microwave frequency and collects the information with the aid of electronic control unit regarding the hurdles within the purlieu of the vehicle. Favourable macro-economic conditions that include improving employment rates, increasing disposable income, rising urban population, and consumer confidence index throughout protuberant economies comprising Germany, U.S., Canada, France, India, China and South Korea is expected to drive market growth. Furthermore, amassed demand for advanced features like cruise control will gain demand for automotive radars, therefore propelling the automotive radar market. Presently, on-going innovations in design and functionality have powered investments in the automotive radar market, worldwide.
By the use of radar system installed in a vehicle, one out of three lives can be saved. Deployment of automotive radar systems in commercial and passenger vehicles had started back in 90’s, however due to technological constrains, concentration on future developments slowed down. But, since past few years, active safety technology has emerged as a major area for research has brought automotive radar systems in the focus again. Minimal sized devices with extraordinary operational frequency are being installed in order to serve more than one applications. Additionally, supportive regulatory framework and favourable macro-economic conditions are predicted to generate significant growth opportunity for the market. Further, regulatory approval for radar technology, for instance, 79 GHz band, in emerging markets such as Mexico, India, etc. can create a robust growth opportunities for the market.
However, high initial cost of mechanical and optical parts along with microelectromechanical sensors (MEMS), piezoelectric or micro mirror over pressure sensors can adversely affect the growth of market during the forecast period. Moreover, technical glitches such as threat of mutual interference are projected to moderately impact the adoption of these technologies. The automotive radar market is segmented by type, technology, frequency and applications. According to type, the market is segmented into anti-collision (short-range radar) and automotive cruise control (long range radar). Collision warning system, adaptive parking assistance, cruise control, blind spot detection and lane departure warning systems are the application segments analyzed under application category of automotive radar market. Based on technology, the market is briefly segmented into ultrasonic radar, millimetre wave radar, camera and LiDAR (Light Detection and Ranging). Frequency-wise, the market is segmented into 24, 77 and 79 GHz systems.
Globally, the market is segmented into North America, Europe, Latin America, Middle East & Africa and Asia-Pacific. Europe is anticipated to be the most promising region for automotive radar market owing to the growing demand due to presence of large OEMs in this province. Also, the European commission is expected to utilize short range radar for its countries which would largely contribute to the growth of automotive radar market in this region. Whereas, Asia-Pacific along with Middle East and Africa is expected grow at a significant rate during the forecast period due to decreasing manufacturing cost of these gadgets. The automotive radar market comprises some key players in this market that include Autoliv Inc., Texas Instruments Inc., Delphi Automotive LLP, Analog Devices, Inc., Valeo Group, SaberTek, Inc., Denso Corp., ZF TRW and Robert Bosch GmbH.

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