Automotive Radar Applications Market Research Report - Global Forecast till 2027

Automotive Radar Applications Market Research Report: 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) - Forecast till 2027

ID: MRFR/AM/1923-CR | July 2019 | Region: Global | 90 pages

 Automotive Radar Applications Market Overview


Global Automotive Radar Applications Market is estimated to register a CAGR of 19.64% in terms of value during the forecast period. The global automotive radar applications market is rapidly growing due to the growing automotive industry globally and increasing adoption of advanced automotive safety systems in vehicles. However, the growth of the market may be hindered by the increase in the overall cost of the car.


In 2018, in terms of value, the global automotive radar applications market was led by Europe followed by Asia-Pacific and North America. Among these regions, Europe is expected to witness significant growth in the global automotive radar applications market, owing to the new emission standards regulated by the government. The manufacturers in Europe have followed two different approaches for developing electric vehicles models, which are conversion and purpose approaches. The ‘conversion’ approach incorporates new technology (an electric motor and battery) in the existing model. The ‘purpose’ approach involves the development of new vehicles that are integrated with the latest technologies. These two approaches will allow the manufacturers to install electric drives in the vehicles, which in turn drives the growth of the automotive radar market.


North America is known for quickly adopting new technologies, owing to the rapidly increasing GDP and high employment rate. The stringent vehicle safety regulations in countries such as the US and Canada drives the growth of this market during the forecast period. The growing popularity of smart systems and automated driving is another driving factor for the automotive radar applications market in North America.


Segmentation


The global automotive radar applications market has been segmented based on application, frequency, technology, and region.


Based on application, the market is divided into adaptive cruise control (ACC), blind-spot detection (BCD), forward collision warning system (FCWS), lane departure warning system (LDWS), and parking assistance (PA). In 2018, the ACC segment held the largest market share and projected to witness significant growth in terms of value during the forecast period due to the growing demand for the safe, relaxed, and comfortable driving experience. The adaptive cruise control (ACC) system helps to reduce stress for the driver by automatically controlling vehicle speed and maintaining a predefined minimum distance to the preceding vehicle. As a consequence, the driver enjoys more comfort and can better concentrate on the traffic.


On the basis of frequency, the global market is divided into 24, 77, and 79 GHz. In 2018, the 24 GHz segment was projected to witness the highest growth in terms of value during the forecast period due to the growing demand for electric vehicle and increasing electrification in automobiles globally. Furthermore, the 24 GHz radars are used in advance driver assistance system (ADAS) applications to sense the environment around the vehicle and offer a proven and cost-effective solution. Additionally, 24 GHz radar systems are aimed at features such as blind-spot detection, rear cross-traffic alerts, and collision avoidance. Hence, due to these safety features, adoption for the 24GHz segment is growing for passenger car and commercial vehicles globally.


On the basis of technology, the global market is segmented into LiDAR, millimeter-wave radar, camera, and ultrasonic radar. The LiDAR segment is expected to witness the highest growth in terms of value during the forecast period due to the growing demand for autonomous driving.


Key Competitors


The key players of the global automotive radar applications market are Robert Bosch GmbH (Germany), Panasonic Corporation (Japan), Valeo (France), Hella KGaA Hueck & Co (Germany), TRW Automotive (US), Continental AG (Germany), Fujitsu Ten Ltd (Japan), Denso (Japan), Sabertek (US), and Delphi (UK).


Regional Analysis


On the basis of region, the global automotive radar applications market has been segmented into North America, Europe, Asia-Pacific (APAC), and the rest of the world (RoW).


Global Automotive Radar Applications Market, by Region, 2018  Automotive Radar Applications Market


Source: MRFR Analysis


The global automotive radar applications market was to experience rapid growth in the Asia-Pacific region during the forecast period owing to the growing upgradation of the safety provision in the car designs, thus giving a much-needed thrust to the automotive radar applications market. Furthermore, the continued growth in automobile production and sales across countries such as China, India, and Japan are likely to drive the market growth.


The rest of the world (RoW) consists of the Middle East & Africa and South America. The increasing presence of major automobile manufacturers and expansion of automotive aftermarket will increase the demand for automotive radar applications market during the forecast period.


Synopsis


With rising awareness about the driving safety among the end consumers and various government initiatives to lessen the road accidents are driving the growth of automotive radar applications market globally. The global automotive radar applications market has been segmented based on application, frequency, technology, and region. On the basis of application, the global automotive radar applications market has been segregated into 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 (ACC) segment is expected to dominate the market and projected to witness significant growth during the forecast period. Among the regions, in 2018, the global automotive radar applications market was led by Europe followed by Asia-Pacific and North America.


Market Segmentation



  • By Application – Adaptive cruise control (ACC), blind-spot detection (BCD), forward collision warning system (FCWS), lane departure warning system (LDWS), and parking assistance (PA)

  • By Frequency – 24, 77, and 79 GHz

  • By Technology – LiDAR, millimeter-wave radar, camera, and ultrasonic radar.


Key Questions Addressed by the Report



  • What was the historic market size (2017)?

  • Which segmentation (application/frequency/technology) is driving market growth?

  • What will be the growth rate by 2025?

  • Who are the key players in this market?

  • What are the strategies adopted by key players?



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: Significant Value
  CAGR   19.64% CAGR (2020-2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Technology, By End Market, By Application, By Vehicle type
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Robert Bosch GmbH (Germany), Panasonic Corporation (Japan), Valeo (France), Hella KGaA Hueck & Co (Germany), TRW Automotive (US), Continental AG (Germany), Fujitsu Ten Ltd (Japan), Denso (Japan), Sabertek (US), and Delphi (UK)
  Key Market Opportunities   Developing electric vehicles model
  Key Market Drivers

  • Growing automotive industry globally
  • Increasing adoption of advanced automotive safety systems in vehicles


  • Frequently Asked Questions (FAQ) :


    The automotive radar applications market is expected to reach a significant market value of USD 81 billion by 2023.

    The global automotive radar applications market is maturing at a whopping 19.64% CAGR over the review period of 2017 to 2023.

    A few significant players of the global automotive radar applications market are Continental AG (Germany), Fujitsu Ten Ltd (Japan), Denso (Japan), Sabertek (US), and Delphi (UK), among others.

    The 24 GHz segment is expected to drive market growth over the review period.

    The LiDAR segment is likely to witness the highest demand in the automotive radar applications market.

    The North American region is expected to witness the highest growth.

    The forward collision warning system (FCWS) segment is slated to witness higher growth over the assessment period.