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Automotive RADAR Market Size, Share and Market Forecast to 2021 | MarketsandMarkets


iCrowdNewswire   Nov 4, 2019  2:39 PM ET

Automotive RADAR Market by Range Type (Long Range RADAR and Short & Medium Range RADAR), Application (ACC, AEB, FCWS, BSD, and Intelligent Parking Assistance), Frequency (2X-GHz and 7X-GHz), Vehicle Type, and Region – Global Forecast to 2021″,  The automotive RADAR market size is projected to grow at the CAGR of 23.81% during the forecast period, to reach the USD 6.61 billion by 2021.

Rising concerns pertaining to vehicle, driver, passenger and, pedestrian safety along with increased involvement of players across the ecosystem have fueled the growth of the market globally. The growing trend of autonomous vehicles is also a major factor that has contributed to the growth of this market.

Opportunities:

North America: Fastest growing region for automotive RADAR market

 

North America was estimated to be the largest market, by value, for automotive RADAR systems in 2016, owing to the stringent safety regulations in the region. Increased awareness of safety features has also fueled the demand in the region. The U.S. New Car Assessment Program (NCAP) has mandated autonomous emergency braking and lane departure warning system for a five-star rating for any passenger car. The U.S. National Highway Transport Safety Administration (NHTSA) is also studying the feasibility of lane departure warning and rearview camera systems to make these technologies a mandate. All these regulations pertaining to vehicle safety are estimated to drive the growth of the automotive RADAR market in the region.

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The Short & Medium Range RADAR (S&MRR) sensor is estimated to be the largest market in automotive RADAR market

The short & medium range RADAR segment is estimated to have the largest market share, owing to the more applications in various driver assistance systems such as blind-spot detection, cross-traffic alert, and intelligent park assist. The application of these safety features requires at least two RADAR sensors. The demand for these safety features is growing due to factors such as rising government regulations for vehicle safety and the increase in the adoption of automotive RADAR based ADAS technology by OEMs.

Adaptive Cruise Control (ACC) is estimated to be the fastest-growing application in RADAR based ADAS market

 

Adaptive cruise control incorporates long-range radar sensor and is an advanced version of cruise control. In many countries, long-range radar based on the 7X-GHz frequency band was initially banned. However, due to the increased safety concerns, these are now available in all the major markets. As the basic cruise control feature is already present in most of the mid-priced and luxury vehicles, the market for ACC is further expected to grow at a higher rate.

 

Blindspot detection is estimated to account for the largest share in Automotive RADAR Market

The blind-spot detection market is estimated to account for the largest share, in terms of volume, of the automotive RADAR based ADAS applications, and is projected to grow at a good rate. For instance, the European parliament has mandated the use of Electronic Stability Control (ESC) and Advanced Emergency Braking System (AEBS) since November 2015. The system is expected to be equipped in all new commercial vehicles above 3.5 tons. As per the latest Euro NCAP rating, the models which are having AEB along with other ADAS features such as ACC and FCW will get better safety ratings. This regulatory move is further expected to drive the RADAR based ADAS market.

 

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Keywords:    Automotive RADAR Market

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