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.
U.S. automotive radar market, by application, 2014 - 2025 (USD Million) |
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
Full Research Report by Grand View Research: http://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:
http://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
- U.S.
- Mexico
- Canada
- Europe
- UK
- Germany
- Asia Pacific
- China
- India
- Japan
- South America
- Brazil
Access press release by Grand View
Research: http://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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