Automotive Radar Market To Will Cross More Than Usd 12.16 Billion By 2025

By Author: Grand View Research, Inc.
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The global automotive radar market size is expected to reach USD 12.16 billion by 2025, growing at a CAGR of 20.8%, according to a study conducted by Grand View Research, Inc. The growing focus on active safety features, innovations in the radar technology, decreasing prices of components, and increasing sales of vehicles are the propelling factors for market growth. Radars play a vital role in detecting objects in various safety systems including adaptive cruise control, pedestrian detection system, blind spot detection, and automated emergency braking.

In order to achieve complete vehicle autonomy, it is essential for automakers to focus on the enhancement of the radar technology and subsequently on the reduction in the size of radar systems. One of the major hurdles hampering the growth of automotive radars is the lack of uniform frequency allocation across the globe. Moreover, the use of higher frequency band is likely to lead to higher resolution benefits and promote the use of a single technology for all applications, thereby reducing the risk of mutual interference. The European Commission has already initiated ...
... the 79 GHz project for vehicular radars, which has been the foundation for the future development of the automotive radar industry.

The market is characterized by the presence of prominent automotive electronics manufacturers including Continental AG, Robert Bosch GmbH, Infineon Technologies AG, and Texas Instruments, among others. Strong R&D capabilities have led to the development of application-oriented radars. Additionally, they have assisted radar manufacturers in complying with different frequency standards present in different countries.

According to the World Health Organization, globally 1.25 million people suffer from death due to road traffic crashes each year. Road accidents are likely to become the seventh leading cause of death by 2030 if appropriate measures to increase vehicle safety are not taken. Thus, the need to protect drivers and passengers from potential accidents would play an important role in determining the marke growth.

Further key findings from the report suggest:
• Medium & short range radar is the fastest growing segment in terms of range, owing to their growing use in numerous applications, such as blind spot detection, lane change assist, and park assist, among others.
• In terms of vehicle types, the passenger car segment is projected to drive the market, owing to the rising radar-based safety systems in mid-priced passenger cars.
• Adaptive Cruise Control (ACC) is projected to hold the largest market size by 2025 owing to rising safety concerns among growing automotive markets such as India and China.
• Increasing efforts from the National Highway Traffic Safety Administration (NHTSA), the Insurance Institute for Highway Safety, and prominent automakers operating in the U.S. for mandating the installation of AEBs in all cars by 2022 are likely to boost the automotive radar market.
• The European region held the largest market size in 2016, which is attributed to the increased stringency in safety norms and NCAP rating.
• The Asia Pacific region is projected to grow at the highest CAGR owing to the rapid adoption of radar-based safety features and increasing vehicle production.
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Stringent government regulations and favorable initiatives in the field of radar systems have promoted the development of vehicle safety systems and are, thus, expected to drive the widespread adoption of radar-based safety systems over the forecast period. Additionally, the decreasing vehicle electronic prices and advancements in the automotive technology are likely to support the usage of automotive radar. Its implementation enables the accurate detection of objects and ensures better vehicle safety.

According to the World Health Organization (WHO), if the global vehicle safety standards are not strengthened by 2030, road traffic crashes will be the seventh leading cause of death. Approximately 90% of accidents on roads occur in developing countries with low- and middle-income capacities, which also represents 54% of the world's vehicle population. The absence of enhanced radar-based vehicle safety systems in these countries presents automakers with a unique opportunity to grow in the near future. The implementation of radar-based safety systems, including Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Forward Collision Warning (FCW), Blind Spot Detection (BSD), and intelligent park assist, among others, would not only increase vehicle safety but also assist in achieving a higher level of vehicle automation.
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Medium & short range radar held the largest market share in 2016 and is expected to be the fastest-growing segment. These radars are prominently used in safety systems to detect objects in the vicinity of a vehicle. The systems include features such as blind spot detection, lane change assist, and park assist. The decreasing radar prices and increasing need to use more than two radars per system for enhanced performance are likely to drive the market over the forecast period.

Since long range radars are prominently used in ACC, the increasing adoption of ACC in mid-priced vehicles is expected to drive growth of the long range radar segment over the forecast period. The segment accounted for a market share of approximately 46% in 2016.

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Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. Grand View Research database is used by the world's renowned academic institutions and Fortune 500 companies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.