According to the latest report by IMARC Group, titled “Automotive Radar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global automotive radar market size reached US$ 3.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 12.4 Billion by 2027, exhibiting a growth rate (CAGR) of 23.01% during 2022-2027.
Industry Overview:
Automotive radio detection and ranging (RADAR) is an electronic sensor system that detects the speed and distance of various objects in the vicinity of the vehicle. It is an integral component of advanced driver assistance system (ADAS) and adaptive cruise control that utilizes a transmitter, receiver, and other radio frequency (RF) technologies to offer multiple safety features, including blind-spot detective and forward-collision warning. These automated systems aid in providing real-time updates on road conditions, calculating object’s directions, and allowing the vehicle to brake after detecting the approaching automobile. As a result, automotive RADAR is incorporated in commercial and passenger vehicles to ensure driver’s safety while providing comfort.
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Automotive Radar Market Growth:
The considerable expansion in the automotive sector and the rising demand for premium vehicles with advanced safety features, including parking assistance and collision avoidance systems, are primarily driving the market growth. Moreover, the growing instances of road accidents have surged the incorporation of adaptive cruise control and blind-spot detection systems in high-end cars to ensure optimal safety, which, in turn, is impelling the market growth. Additionally, the large-scale integration of complementary metal oxide semiconductors (CMOS) RADAR to reduce stress on drivers by eliminating repetitive tasks and activating life-saving automatic interventions is fuelling the market growth. Besides this, ongoing research and development (R&D) activities to launch next-generation cars equipped with multiple radar sensors allowing a 360-degree surround-view and advanced driver assistance are supporting the market growth.
Automotive Radar Market Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the global automotive radar market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Analog Devices Inc (NASDAQ: ADI)
- Aptiv plc (NYSE: APTV)
- Autoliv Inc. (NYSE: ALV)
- Continental AG (OTCMKTS: CTTAY)
- Denso Corporation (OTCMKTS: DNZOY)
- HELLA GmbH & Co. KGaA (ETR: HLE)
- Infineon Technologies AG (OTCMKTS: IFNNY)
- NXP Semiconductors (NASDAQ: NXPI)
- Robert Bosch GmbH
- Texas Instruments Incorporated (NASDAQ: TXN)
- Valeo (OTCMKTS: VLEEY)
- ZF Friedrichshafen AG
Automotive Radar Market Segmentation:
The report has segmented the global automotive radar market on the basis of range, vehicle type, application and region.
Based on Range:
- Long Range
- Medium and Short Range
Based on Vehicle Type:
- Passenger Cars
- Commercial Vehicles
Based on Application:
- Adaptive Cruise Control (ACC)
- Autonomous Emergency Braking (AEB)
- Blind Spot Detection (BSD)
- Forward Collision Warning (FCW)
- Intelligent Park Assist
- Others
Geographical Analysis:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Explore Report Description with TOC & List of Figure: https://www.imarcgroup.com/automotive-radar-market/toc
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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