Automotive Radar Applications Market Research Report - Global Forecast till 2030

Automotive Radar Applications Market Research Report Information Information By Application (Adaptive Cruise Control (ACC), Blind Spot Detection (BCD), Forward Collision Warning System (FCWS), Lane Departure Warning System (LDWS) and Parking Assistance (PA)), Frequency (24, 77, and 79 GHz), Technology (LiDAR, Millimeter-Wave Radar, Camera, and Ultrasonic Radar), and Region ‚ÄĒ Forecast till 2030

ID: MRFR/AM/1923-CR | 90 Pages | Author: Swapnil Palwe | July 2019         

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Automotive Radar Applications Market

The Global Automotive Radar Applications Market Size is expected to cross USD 16 Billion by 2030 at a CAGR of 25% during the forecast period ending in 2030

Segmentation
By Application Adaptive Cruise Control (ACC) Blind Spot Detection (BCD) Forward Collision Warning System (FCWS) Lane Departure Warning System (LDWS) Parking Assistance (PA)) Frequency (24 77 79 GHz
By Frequency 24 77 and 79 GHz
By Technology LiDAR Millimeter-Wave Radar Camera Ultrasonic Radar
Key Players
Companies Profiled    (Adaptive Cruise Control (ACC)    Blind Spot Detection (BCD)    Forward Collision Warning System (FCWS)    Lane Departure Warning System (LDWS)    Parking Assistance (PA))    Frequency (24    77    and 79 GHz)    Technology (LiDAR    Millimeter-Wave Radar    Camera and Ultrasonic Radar)
Drivers
Market Driving Forces   Growing automotive industry globally    Increasing adoption of advanced automotive safety systems in vehicles    Developing electric vehicles model
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Automotive Radar Applications Market Overview


The global Automotive Radar Applications market size is projected to reach approximately USD 16 Billion by 2030, at a CAGR of 25% from 2020 to 2030. Automotive radar applications are a type of radar system that is used in automobiles. These systems are used to detect and track objects in front of the vehicle, and to provide information to the driver about the distance and speed of the objects. Automotive radar applications can be used for a variety of purposes, including collision avoidance, adaptive cruise control, and automatic braking.


COVID-19 Impact Analysis


Automotive manufacturers have encountered sudden changes within their industry due to the COVID-19 pandemic. It has had a swift impact on worldwide unified automotive manufacturers & has caused anxiety and concern among consumers. Indications of this include the interruption in the export of Chinese automotive parts, huge manufacturing disruptions across Europe, and the shutting down of assembly plants in the U.S. This puts a lot of pressure on an industry that is already struggling to survive. Highly accurate auto radar has always been promising innovation in the automotive industry. The pandemic’s impact on the industry is expected to decline as more and more people become vaccinated and as other contributing factors also decrease in number. Demand for automotive radar-backed solutions is growing at a rapid pace as it provides visibility and safety.


Market Dynamics


Automotive Radar has many benefits for drivers. It saves time, is less expensive to maintain, and operates with higher precision than other sensors. Automotive radar systems are becoming increasingly important in the digital age, as they play a significant role in advanced driver assistance systems. They help to reduce the likelihood of collisions & improve safety. The demand for vehicles with a high degree of safety features is projected to grow over the next few years. These features have emerged as the foremost consideration when determining which vehicle to purchase, based on some industry estimates.


Drivers




  • The upsurge of demand for safety features




Safety features like parking assistance, collision avoidance, lane departure warnings, traction control, and stability machinery have been on the rise in recent years. That trend is likely to continue because these new technologies provide not only convenience but also reduce the likelihood of injury or death. Automotive radar can provide a 360-degree view of the road. The ADASs notify the driver if there's something near them, or if there are any potential problems with their car. Automated systems are becoming more widespread and can save lives in the process. Automated systems prevent accidents like car crashes and are making the roads safer for everyone. Road-related death rates are 1.3 million each year. The rate of injury especially for teenagers is higher than the general population. Automotive companies have realized the importance of safety features in their vehicles and are developing them in response to market demand. They offer these features to meet the needs of their customers, keeping them safe on the roads.


Restraint:




  • High costs of cars




The automotive radar applications market has been witnessing an increasing demand due to the growth of autonomous cars and connected cars. However, some factors may hinder the growth of this market shortly. The overall cost of a car is expected to increase due to various factors such as higher fuel prices and increases in labor costs and raw materials costs related to the car manufacturing process.


Opportunity:




  • Increase in demand for safety features in vehicles




The growth of the automotive radar applications market is also being driven by the increasing demand for safety features in vehicles. Radar-based systems can provide a range of safety features, including blind spot detection, forward collision warning, and lane departure warning. The increasing availability of these features is driving up demand for radar systems. The automotive radar applications market is expected to continue to grow in the coming years as more and more automakers adopt radar-based systems in their vehicles. This growth will provide opportunities for radar manufacturers and suppliers to capitalize on the growing demand for their products.   


Segment Overview


By Application


Based on Application, the global Automotive Radar Applications market has been segmented based on Adaptive Cruise Control (ACC), Blind Spot Detection (BCD), Forward Collision Warning System (FCWS), Lane Departure Warning System (LDWS), and Parking Assistance (PA)). The Adaptive Cruise Control is the fastest growing in the global Automotive Radar Applications market.


By Frequency


Based on the frequency, the global Automotive Radar Applications market has been segmented based on 24, 77, and 79 GHz. The 24 GHz segment is expected to be the largest in the global Automotive Radar Applications market.


By Technology


Based on the Technology, the global Automotive Radar Applications market has been segmented based on LiDAR, Millimeter-Wave Radar, Camera, and Ultrasonic Radar. The LiDAR segment is expected to be the largest in the global Automotive Radar Applications market.


Regional Analysis


 By region, the global Automotive Radar Applications market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. The Europe region holds the largest market for the Automotive Radar Applications business.


Asia-Pacific Market


The Asia-Pacific region has seen a rise in disposable income, which has supported the dramatic rise in automotive sales over the past several years. India and China have been identified as two of the most important markets for these vehicles. To meet the demands of the market for automotive radar systems, manufacturers have been increasing the speed of their radar.


North America Market


North America is known for quickly adopting new technologies, owing to the rapidly increasing gross domestic product and high employment rate. The safety regulations among countries across the globe have been a driving force in the growth of this market, including the US and Canada, during this forecast period. Smart systems and automated driving are becoming the new norm, with analysts predicting the market for automotive radar applications to grow in North America.


Competitive Landscape


The market comprises various national and international players. The market players are investing in R&D and also finding new ways to develop and improve product portfolios. Various players are entering into expansion, new product launches, joint ventures, and partnerships, to strengthen their market position and capture a large customer base.


Prominent players in the global Automotive Radar Applications market include Robert Bosch GmbH, Panasonic Corporation, Valeo, Hella KGaA Hueck & Co, TRW Automotive, Continental AG, Fujitsu Ten Ltd, Denso, Sabertek, and Delphi


Scope of the Report


Global Automotive Radar Applications Market, by Application



  • Adaptive Cruise Control (ACC)

  • Blind Spot Detection (BCD)

  • Forward Collision Warning System (FCWS)

  • Lane Departure Warning System (LDWS)

  • Parking Assistance (PA)


Global Automotive Radar Applications Market, by Frequency



  • 24 GHz

  • 77 GHz

  • 79 GHz


Global Automotive Radar Applications Market, by Technology



  • LiDAR

  • Millimeter-Wave Radar

  • Camera

  • Ultrasonic Radar


Global Automotive Radar Applications Market, by Region



  • North America

    • US

    • Canada

    • Mexico



  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • India

    • Japan

    • Australia and New Zealand

    • Rest of Asia-Pacific



  • Rest of the World

    • South America

    • Middle East

    • Africa




Objectives of the Study


The objectives of the study are summarized in 5 stages. They are as mentioned below:


Market Size and Forecast:


To identify and estimate the market size for global Automotive Radar Applications market segmented by product type, material type, category, shape and distribution channel by value (in US dollars). Also, to understand the consumption/ demand created by consumers of Automotive Radar Applications during the period of 2019-2030


Market Landscape and Trends:


To identify and infer, the drivers, restraints, opportunities and challenges for the global Automotive Radar Applications market


Market Influencing Factors:


To find out the factors which are affecting the sales of Automotive Radar Applications among consumers


Impact of COVID-19:


To identify and understand the various factors involved in the global Automotive Radar Applications market affected by the pandemic


Company Profiling:


To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies002E


Intended Audience



  • Automotive Radar Applications Producers

  • Raw Material Suppliers

  • Retailers, Wholesalers, and Distributors

  • Governments, Associations, and Industrial Bodies

  • Investors and Trade Experts



Report Scope:

Report Attribute/Metric Details
  Market Size   2030: USD 16 Billion
  CAGR   25% CAGR (2021-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Application, Frequency, Technology
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Robert Bosch GmbH, Panasonic Corporation, Valeo, Hella KGaA Hueck & Co, TRW Automotive, Continental AG, Fujitsu Ten Ltd, Denso, Sabertek, and Delphi
  Key Market Opportunities   Increase in demand for safety features in vehicles
  Key Market Drivers   Increase demand for safety features
 

Frequently Asked Questions (FAQ) :

The global Automotive Radar Applications market is growing at a CAGR of ~ 25% over the next 7 years

Robert Bosch GmbH, Panasonic Corporation, Valeo, Hella KGaA Hueck & Co, TRW Automotive, Continental AG, Fujitsu Ten Ltd, Denso, Sabertek, and Delphi are the major companies operating in the global Automotive Radar Applications market.

North America is expected register the highest CAGR during 2021 - 2030

The study period of global Automotive Radar Applications market is 2022 - 2030

Key Questions Answered

  • ✅ Global Market Outlook
  • ✅ In-depth analysis of global and regional trends
  • ✅ Analyze and identify the major players in the market, their market share, key developments, etc.
  • ✅ To understand the capability of the major players based on products offered, financials, and strategies.
  • ✅ Identify disrupting products, companies, and trends.
  • ✅ To identify opportunities in the market.
  • ✅ Analyze the key challenges in the market.
  • ✅ Analyze the regional penetration of players, products, and services in the market.
  • ✅ Comparison of major players‚Äô financial performance.
  • ✅ Evaluate strategies adopted by major players.
  • ✅ Recommendations
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