Automotive RADAR Market size to grow to 6.61 Billion USD by 2021
LONDON, May 15, 2017 /PRNewswire/ -- Highlights
• Increasing stringency of the safety regulations, and growing focus towards autonomous & semi-autonomous cars to fuel the demand for automotive RADAR market
• Increasing stringency of the safety regulations, and growing focus towards autonomous & semi-autonomous cars to fuel the demand for automotive RADAR market
• The major factors driving the growth of this market include introduction of driver assistance technologies as per government regulations in passenger as well as commercial vehicles and rising awareness about vehicle and pedestrian safety.
• The rising trend of autonomous and semi-autonomous vehicles, which use automotive RADAR systems, is also an important factor to be considered.
Increasing stringency of the safety regulations, and growing focus towards autonomous & semi-autonomous cars to fuel the demand for automotive RADAR market
The global automotive RADAR market is projected to reach a market size of USD 6.61 billion by 2021, growing at a CAGR of 23.81% from 2016 to 2021. The major factors driving the growth of this market include introduction of driver assistance technologies as per government regulations in passenger as well as commercial vehicles and rising awareness about vehicle and pedestrian safety. The rising trend of autonomous and semi-autonomous vehicles, which use automotive RADAR systems, is also an important factor to be considered.
The 7X-GHz frequency band RADAR sensor is estimated to be the fastest growing segment
The 7X-GHz frequency band was estimated to be the fastest growing segment of automotive RADAR market in 2016. The 7X-GHz systems are expected to drive the future RADAR growth as the majority of industry players are currently working on developing more 7X-GHz systems at a lower cost. The European Commission is also in favor of legalizing the use of 79GHz RADAR sensor for automotive ADAS applications.
The Mid-Priced Passenger Vehicle is estimated to be the fastest growing segment
The mid-priced passenger vehicle type is estimated to hold the largest market size during the forecast period. This is because most of the mid-priced passenger vehicles are being incorporated with the automotive RADAR based ADAS applications, which were initially equipped in luxury vehicles only. The reduced cost of components, along with increased participation of major players across the eco-system, has also helped to reduce the overall cost of RADAR based ADAS features. This has favored the implementation of these features into the mid-priced passenger vehicles at an affordable price.
Europe is estimated to be the largest region in terms of volume
In 2016, the largest regional market for the automotive RADAR is the European market, which holds a majority of the market share of the global automotive RADAR market by value and volume. The European Commission is also in favor of legalizing the use of RADAR based ADAS applications to increase the vehicle safety. According to the ETSI standard (EN 302 264), the use of short range vehicular RADAR operating in the 77 to 81 GHz frequency range is legalized and do not have any time constraint, neither operative restriction burdens. This has geared-up the ADAS applications in the European region, ultimately impacting the automotive RADAR market.
The study contains insights provided by various industry experts, ranging from RADAR manufacturers to automobile OEMs and various automotive associations.
Players Profiled in the Report are:
Analog Devices Inc.
Autoliv Inc.
Continental AG
Delphi Automotive PLC
Denso Corporation
Hella KGaA Hueck & Co
Infineon Technologies AG
NXP Semiconductors N.V.
Robert Bosch GmBH
Texas Instruments Inc.
Valeo S.A.
ZF Friedrichshafen AG
Research Coverage
The report covers the global automotive RADAR market based on range type (long range radar, short and medium range radar), application (ACC, AEB, FCWS, BSD, Intelligent Parking Assistance, and Others), by frequency (24-GHz and 7X-GHz), by vehicle type, and region (North America, Europe, Asia-Pacific, and RoW).
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