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Automotive Radar Market Status (2016-2020) and Forecast Market Analysis, Regional Outlook, Segment Growth Potential, and Competitive Market Share Analysis, 2021-2027

Format: PDF | Pages: 310 | Report ID: MRS1065


Report Description

The global Automotive Radar market size is estimated at USD 2,400.7 Million in 2020, expanding at a CAGR 6.4% from 2021-2027 to reach 3,850.1 Million USD in 2027.

Market Dynamics

Leading automakers are working on producing upcoming new vehicles that will include up to 10 radar sensors. It allows for a sensor 360º encircle, which is required for semi-autonomous driving and enhanced driver support. As a result, the automobile industry's need for cross-sensor systems is rising at an accelerating rate. The increasing demands have resulted in increased R&D within the domain of automobile sensor systems.

Strict government regulatory restrictions and positive efforts in the area of radars have encouraged the advancement of automotive safety systems, which are likely to propel the broad use of radar-based protection devices throughout the projected timeline. Furthermore, lower car electronic costs and improvements in the vehicle industry are anticipated to encourage the use of device applications. Its installation allows for more precise object recognition and improves vehicle safety.

A different signal framework is used by device applications. They do not, however, have any inherent authentication, making the technology vulnerable to spoofing attacks. An effective spoofing invasion can have a significant impact on the validity of car building users by causing additional the motor to stop, reverse course, or collide inside a short period of time by overstepping intended radar.

In terms of revenue, Europe leads the worldwide industry and is anticipated to expand at the fastest CAGR over the forecasted period. It can be ascribed to the European Committee's growing consistency of car safety standards (EC). German automakers account for around 70% of luxury vehicle manufacturing. Nevertheless, because to the reduced benefits associated with car manufacturing, the Asia Pacific area is anticipated to dominate as the fastest expanding region. Because of growing discretionary income, the Asian Region area has seen a boom in the vehicle industry in recent years.

The Automotive Radar market is fragmented into range, and application, due to the rapid acceptance of such function in passenger automobiles in nations such as Europe and the United States, ACC claimed the highest automotive infrared market position in 2020. Over the projection period, the global FCWS sector is expected to increase at a high CAGR. The optimistic outlook of this category is linked to the growing adoption of vehicles in nations including India & China as a result of the increasing incidence of traffic incidents. By range, mid-ranged radar retained the biggest industry share and is anticipated to expand significantly during the forecasted years. Such radars are used in safety mechanisms to give functions like parking assistance, cross-traffic warning, and lane departure facilitate, among others. The leadership of this category can be ascribed to reasons such as lower radar costs and a higher requirement to increase capability by utilizing and over two radar systems.

Some of the main companies in this industry are Robert Bosch GmbH, Continental AG, and Texas Instruments. Industry participants are largely focused on creating high-performance small radars. Organizations have also boosted their R&D investment in an effort to produce novel solutions and acquire a competitive edge. Aside from new products and collaborations, dominating market companies have used acquisitions and mergers as a significant tactic to acquire market penetration.

The report begins with an overview of the Industry Chain structure, and describes the industry environment, then analyses market size and forecast of Automotive Radars by range, region, and application. In addition, this report introduces the market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report.

Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products, etc.):

  • Nidec Elesys Corporation
  • TungThih Electronic Co., Ltd.
  • ANALOG DEVICES INC
  • BORGWARNER INC
  • Robert Bosch GmbH
  • VEONEER INC
  • Denso Corporation
  • Autoliv Inc
  • Valeo SA
  • Aptiv
  • NXP Semiconductors
  • Texas Instruments Incorporated
  • ZF Friedrichshafen AG
  • Infineon Technologies AG

Range Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Short
  • Medium
  • Large

Application Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Adaptive Cruise Control (ACC)
  • Forward-Collision Warning System (FCWS)
  • Autonomous Emergency Braking (AEB)
  • Blind Spot Detection (BSD)
  • Intelligent Parking Assistance

Region Coverage (Regional Consumption, Demand & Forecast by Countries, etc.):

  • North America (U.S., and Canada)
  • Europe (Germany, U.K., France, Italy, Spain, etc.)
  • Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
  • South America (Brazil, Mexico, Argentina, etc.)
  • Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa, etc.)

Frequently Asked Questions

The global Automotive Radar market size is estimated at USD 2,400.7 Million in 2020, expanding at a CAGR 6.4% from 2021-2027 to reach 3,350.1 Million USD in 2027.
North America captured the highest revenue in 2021 and is projected to continue its dominance during the study period.
The global industry is growing at a promising growth rate over the study period.
Asia Pacific (especially China, and India) region is projected to grow at the fastest growth rate during the study period.
The worldwide market is characterized by the presence of large number of small scale and medium scale players.

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