Automotive Radar Market Size, Share, Growth Report 2030

Automotive Radar Market

Automotive Radar Market - By Application (Adaptive Cruise Control, Blind Spot Detection, Autonomous Emergency Braking, Intelligent Park Assist, Forward Collision Warning System, and Other), By Frequency (24 GHz, 77 GHz, and 79 GHz), By Range (Long Range RADAR and Short & Medium Range RADAR), By Vehicle Type (Passenger Car and Commercial Vehicles), and By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026

Category: Automotive Report Format : PDF Pages: 110 Report Code: ZMR-3215 Published Date: Jun-2020 Status : Published

Global Automotive Radar market accrued earnings worth approximately 3.2 (USD Billion) in 2019 and is set to record a CAGR of about 21.5% over the period from 2020 to 2026.

Automotive Radar Market: Overview

The global Automotive Radar market accrued earnings worth approximately 3.2 (USD Billion) in 2019 and is set to record a CAGR of about 21.5% over the period from 2020 to 2026. The report offers an assessment and analysis of the Automotive Radar market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).

Automotive Radar Market: Introduction

Automotive radars are utilized for detecting the velocity as well as the object range in the vicinity of the vehicle in which the radar is deployed. Furthermore, the automotive radar comprises a receiver and transmitter. The transmitter sends radio waves to the object and these waves bounce back to the receiver of the vehicle after hitting the object. This helps in assessing the acceleration, direction, and distance of the object from the vehicle.

Furthermore, automotive radar is an evolving technology facilitating autonomous & smart features in the automotive, thereby relieving drivers from performing repetitive tasks, lessening their levels of stress, and adding life-saving automated interpolations. Currently, the electronic product is installed in numerous high-end vehicles for enabling secure and comfortable features of the vehicle, thereby assisting the vehicle in decelerating without the involvement of the driver and thus preventing vehicle accidents on road. 

Details of the Report:

Report Metric

Details

Base Year

2019

Historical Data

2017 and 2018

Forecast period

2020-2026

Market Representation

Earnings provided in terms of USD Billion and CAGR estimated from 2020 to 2026

Segments Analyzed

By  Application, By Vehicle Type, By Frequency, By Range, and By Region

Regions Analyzed

North America, Asia Pacific, Latin America, Europe, the Middle East, and Africa

Automotive Radar Market: Growth Drivers

Automotive radars provide cost-efficient solutions and are utilized for blind-spot detection and collision avoidance, thereby creating lucrative opportunities for the automotive radar market in the near future. Apart from this, introduction of strict laws for vehicular safety and the rise in the embedding of ADAS systems in vehicles will proliferate the product demand in the coming years.

Furthermore, a surge in the number of vehicle collisions and escalating requirements for safe mobility of vehicles will prompt business expansion over the forthcoming years. Additionally, inception of new concepts such as electric & autonomous vehicles along with electrifying of automobiles will expatiate the market growth over the ensuing years.

Apparently, huge capital funding for the automotive sector in the countries like Germany, China, the UK, the U.S., Japan, and India will steer the market surge in the years ahead. Reduction in vehicle costs and breakthroughs in vehicular technology will promote the use of automotive radars globally.  This, in turn, will embellish the market surge over the forecast timeline.

Europe To Contribute Lucratively Towards Overall Market Growth By 2026

The regional market expansion during the forecast timeline is owing to the acceptance of new technologies in the automotive sector across the countries like Germany, Belgium, the UK, and Holland in Europe. In addition to this, the state authorities in these countries have enacted & enforced strict laws for addressing vehicular safety issues as well as vehicle collisions. This, in turn, will spearhead the industry growth in the region over the forecasting years.  

Key players profiled in the report include DENSO Corp., Infineon Technologies AG, Continental AG, Autoliv Inc., Texas Instruments Inc., Valeo SA, Robert Bosch GmbH, and HELLA KGaA Hueck & Co.

The global automotive radar market is segmented as follows:

By application:

  • Blind Spot Detection (BSD)
  • Forward Collision Warning System
  • Adaptive Cruise Control (ACC)
  • Autonomous Emergency Braking (AEB)
  • Intelligent Park Assist
  • Other ADAS Applications

By frequency:

  • 24 GHz
  • 77 GHz
  • 79GHz

By range:

  • Short & Medium Range RADAR (S&MRR)
  • Long Range RADAR (LRR)

By vehicle type:

  • Commercial Vehicles
  • Passenger Car

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

The key growth drivers that will leverage the business space include surge in the number of vehicle accidents and escalating need for safe mobility of vehicles.

The CAGR of the industry is expected to be nearly 21.5% during the forecast timeline.

European region will contribute lucratively towards the global market value over the estimated timeline.

The key market players include Continental AG, Texas Instruments Inc., Robert Bosch GmbH, DENSO Corp., Infineon Technologies AG, Valeo SA, Autoliv Inc., and HELLA KGaA Hueck & Co.

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