The Global Automotive RADAR Market is valued USD 5.74 billion in 2020 and expected to reach USD 11.78 billion at a CAGR of 15.4 % during the forecast period.The rising number of accidents and growing need for safer mobility are the primary factors driving the market growth. In addition, the growing trend of autonomous vehicles coupled with increasing vehicle electrification is expected to foster the growth prospects for automotive radar.
Stringent government regulations and favorable initiatives in the field of radar systems have promoted the development of vehicle safety systems and are, thus, expected to drive the widespread adoption of radar-based safety systems over the forecast period. Additionally, the decreasing vehicle electronic prices and advancements in the automotive technology are likely to support the usage of automotive radar. Its implementation enables the accurate detection of objects and ensures better vehicle safety.
According to the World Health Organization (WHO), if the global vehicle safety standards are not strengthened by 2030, road traffic crashes will be the seventh leading cause of death. Approximately 90% of accidents on roads occur in developing countries with low- and middle-income capacities, which also represent 54% of the world's vehicle population. The absence of enhanced radar-based vehicle safety systems in these countries presents automakers with a unique opportunity to grow in the near future. The implementation of radar-based safety systems, including Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Forward Collision Warning (FCW), Blind Spot Detection (BSD), and intelligent park assist, among others, would not only increase vehicle safety but also assist in achieving a higher level of vehicle automation.
According to the IBEF, the passenger vehicle production in India is expected to increase from 3.4 million in FY 2016 to 10 million in FY2020. Such a profound growth of the automobile sector will lead to the demand for automotive radar systems to support functions such as navigation, surveillance, and traffic monitoring. Radar-enabled driver assistance systems provide deep insights about vehicles’ surroundings and help drivers to identify potential hazards in advance. With the rising awareness about passenger & vehicle safety, the demand for automotive radar modules and sensors will accelerate over the forecast timeline.
Key players in the market include Robert Bosch GmbH (Germany), HELLA KGaA (Germany), Continental AG (Germany), Denso Corporation (Japan), Delphi Automotive PLC (U.K.), Autoliv Inc. (Sweden), and Valeo S.A. (France) are the system manufacturers and companies such as Infineon Technologies AG (Germany), NXP Semiconductors N.V. (The Netherlands) are the chip manufacturers in the automotive RADAR market. These players are increasingly undertaking mergers and acquisitions, and product launches to develop and introduce new technologies and products in the market.
The Asia Pacific automotive radar market growth is driven by the rising initiatives and investments in the automobile industry and an increase in the number of vehicle accidents. It is estimated that around 35 cities in China have approximately 1 million cars on the road, due to which 75% of the roads suffer traffic congestion and accidents. In 2016, around 260,000 travellers in China lost their lives due to auto accidents. To ensure vehicle and driver safety, car manufacturers are deploying automotive radar sensors, which will guide the driver along the route. Companies operating in the market are offering their next-generation transport technologies to improve traffic and foster the overall convenience of transport.
Stringent government regulations and favorable initiatives in the field of radar systems have promoted the development of vehicle safety systems and are, thus, expected to drive the widespread adoption of radar-based safety systems over the forecast period. Additionally, the decreasing vehicle electronic prices and advancements in the automotive technology are likely to support the usage of automotive radar. Its implementation enables the accurate detection of objects and ensures better vehicle safety.
According to the World Health Organization (WHO), if the global vehicle safety standards are not strengthened by 2030, road traffic crashes will be the seventh leading cause of death. Approximately 90% of accidents on roads occur in developing countries with low- and middle-income capacities, which also represent 54% of the world's vehicle population. The absence of enhanced radar-based vehicle safety systems in these countries presents automakers with a unique opportunity to grow in the near future. The implementation of radar-based safety systems, including Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Forward Collision Warning (FCW), Blind Spot Detection (BSD), and intelligent park assist, among others, would not only increase vehicle safety but also assist in achieving a higher level of vehicle automation.
According to the IBEF, the passenger vehicle production in India is expected to increase from 3.4 million in FY 2016 to 10 million in FY2020. Such a profound growth of the automobile sector will lead to the demand for automotive radar systems to support functions such as navigation, surveillance, and traffic monitoring. Radar-enabled driver assistance systems provide deep insights about vehicles’ surroundings and help drivers to identify potential hazards in advance. With the rising awareness about passenger & vehicle safety, the demand for automotive radar modules and sensors will accelerate over the forecast timeline.
Key players in the market include Robert Bosch GmbH (Germany), HELLA KGaA (Germany), Continental AG (Germany), Denso Corporation (Japan), Delphi Automotive PLC (U.K.), Autoliv Inc. (Sweden), and Valeo S.A. (France) are the system manufacturers and companies such as Infineon Technologies AG (Germany), NXP Semiconductors N.V. (The Netherlands) are the chip manufacturers in the automotive RADAR market. These players are increasingly undertaking mergers and acquisitions, and product launches to develop and introduce new technologies and products in the market.
The Asia Pacific automotive radar market growth is driven by the rising initiatives and investments in the automobile industry and an increase in the number of vehicle accidents. It is estimated that around 35 cities in China have approximately 1 million cars on the road, due to which 75% of the roads suffer traffic congestion and accidents. In 2016, around 260,000 travellers in China lost their lives due to auto accidents. To ensure vehicle and driver safety, car manufacturers are deploying automotive radar sensors, which will guide the driver along the route. Companies operating in the market are offering their next-generation transport technologies to improve traffic and foster the overall convenience of transport.
- Aerospace and Defense
- Agriculture
- Automotive and Transportation
- Business and Finance
- Chemical and Materials
- Consumer Goods and Retails
- Electronics and Semiconductor
- Energy and Power
- Food and Beverages
- Machinery and Equipment
- Manufacturing and Construction
- Medical Devices
- Pharmaceuticals and Healthcare
- Service and Software
- Technology, Media and Telecommunications
- Travel and Tourism
