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Automotive Radar Market Worth US$ 11.9 Billion with Huge CAGR of 21.9% During 2019-2025 | Short Range Radar Market | Mid-Range Radar Market | Adaptive Cruise Control Market | Intelligent Parking Systems Market | Blind Spot Detection System Market

11-05-2019 08:10 AM CET | Logistics & Transport

Press release from: UnivDatos Market Insights (UMI)

Automotive Radar Market Worth US$ 11.9 Billion with Huge CAGR

Short-range & medium-range radar (S&MRR) and long-range radars (LRR) are the key types of radar-based on their range of clear visibility. In 2018, S&MRR dominated the worldwide automotive radar market and is foreseen to create a market size of US$ 7,330.7 million by 2025. On the contrary, the LRR segment is expected to grow at the highest CAGR of 24.3% during the analyzed period. The major growth drivers for the global automotive radar market are changing vehicle safety regulation, increase in adoption of advanced driver assistance system (ADAS) technology and increasing the number of radar sensors used per vehicle. Stringent government regulations, mandating rear-view camera system and lane departure cautioning technologies in vehicles have also stimulated the growth of the technology in several countries. Additionally, the growing adoption of ADAS technology across mid-priced and premium segment vehicles has further energized the growth of the market at a worldwide scale. The global automotive radar market is expected to reach the market worth of US$ 11,968.53 million by 2025, increasing at a CAGR of 21.8% during the forecast period 2019-2025.

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The growing governmental rules on vehicle security and mandating of certain ADAS features in vehicles are helping widespread adoption of radar across several application areas in a vehicle. Adaptive cruise control, autonomous emergency braking, intelligent parking systems, blind-spot detection, collision mitigation system and others are the major application area of radar technology analyzed in the study. Adaptive cruise control dominated the market with a market size of US$ 1,009.6 million in 2018 and is anticipated to maintain its dominance during the forecast period 2019-2025. On the contrary, the compulsion of autonomous emergency braking function in the vehicles in North America and Europe is anticipated to bolster the market for this technology. The autonomous emergency braking application area is expected to increase at the highest CAGR of 25.6% during the forecast period. 2X and 7X GHz are the two foremost frequency bands, which are widely used in the vehicles, as they play a crucial role in determining the effectiveness of the radars in advance safety systems. 2X GHz band dominated the market in 2018. However, by 2021 7X-GHz frequency band is expected to overtake the 2X GHz band, to become the biggest-selling frequency band radar system. The 7X-GHz radar sensor can accomplish multiple times better performance in range resolution, thus improving environmental modeling and object classification. Owing to this the overall adoption of 7X-GHz in the vehicle is expected to grow rapidly, making them the fastest-growing frequency band during the forecast period.

Additionally, radar is rapidly capturing every segment of vehicles manufactured, including passenger vehicles, luxury vehicles, and commercial vehicles. The mid-priced passenger vehicles are adopting some of the basic advanced safety features such as automated parking, adaptive cruise control system, and adaptive cruise control system, but the penetration rate is still quite low. India is also one of the largest passenger vehicle markets in the world both in luxury and passenger vehicle segments. This is mainly attributed to the rising level of urbanization and increasing demand from the growing middle class in developing economies, with consumers often purchasing their first personal passenger car. The rising awareness of customers for advance safety features across the passenger vehicle segment has forced the global car manufacturers to install this technology in their upcoming models. The passenger car segment dominated the global automotive radar market, followed by luxury and commercial vehicle segments. The luxury vehicle segment is expected to register the highest CAGR growth of 24.1% during the forecast period 2019-2025.

For analysis of the overall adoption of Radar technology in vehicles please visit: - https://univdatos.com/report/global-market-insights-on-automotive-radar-insights-and-forecast-2019-2025  

Additionally, for better investigation and penetration of automotive radar market, the report splits the worldwide market into distinct region and countries including North America (the U.S., Canada, Mexico and Rest of North America), Europe (Russia, Germany, France, the U.K., Italy, Spain and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Malaysia and Rest of Asia-Pacific) , Middle East and North Africa( the UAE, Saudi Arabia, Kuwait,, Qatar, Algeria, Egypt and rest of Middle East and North Africa) and Latin America (Brazil, Argentina, Chile and Rest of Latin America). In 2018, North America was the largest market in value terms, attributable to the stringent safety guidelines in the region. Growing awareness of security features has also fueled the demand for radar technology in the region. The European region is estimated to be the largest market for automotive radar during the forecast period. Substantial building up in this market is mainly due to the adoption of advanced technologies and stringent vehicle security regulations.

Some of the major companies profiled in the global Automotive radar study include Robert Bosch GmbH, HELLA KGaA, Continental AG, Denso Corporation, Aptiv PLC, Valeo S.A., Infineon Technologies AG, Texas Instruments Inc., Analog Devices Inc. and NXP Semiconductors N.V. These players consistently intend to focus on product development, new product launch and enhance their existing portfolios to expand their customer base and strengthen their market position.

Global Automotive Radar Market Segmentation

Market Insights, by Radar Range

Long Range RADAR (LRR)

Short & Mid-Range RADAR (SRR&MRR)

Market Insights, by Application

Adaptive Cruise Control (ACC)

Autonomous Emergency Braking (AEB)

Blind Spot Detection (BSD)

Collision Avoidance System (CAS)

Intelligent Parking Assistance (IPA)

Other

Market Insights, by Frequency Band

2X-GHz

7X-GHz

Market Insights, by Vehicle type

Passenger Vehicles

Luxury Vehicles

Commercial Vehicle

Market Insights, by Geography

North America Automotive Radar Market

United States

Canada

Mexico

Rest of North America

Europe Automotive Radar Market

Germany

France

The U.K.

Russia

Italy

Spain

Rest of Europe

Asia-Pacific Automotive Radar Market

China

Japan

India

South Korea

Singapore

Australia 

Rest of APAC

MENA Automotive Radar Market

UAE 

KSA 

Algeria

Kuwait 

Egypt

Qatar

Rest of MENA

Latin America Automotive Radar Market

Brazil

Argentina

Chile

Rest of Latin America

Top Companies Profiles

Continental AG

Robert Bosch GmbH

Delphi Automotive PLC

Denso Corporation

Infineon Technologies AG

NXP Semiconductors N.V.

Valeo S.A.

Hella KGaA Hueck & Co.

Analog Devices Inc.

Texas Instruments Inc.

Have Any Query? Ask Our Industry Experts @ https://univdatos.com/request_form/form/189

About UnivDatos Market Insights (UMI)

UnivDatos Market Insights (UMI) is a rapidly emerging market research firm that offers the most relevant and effective research solutions. With our unique approach to gathering valuable data and using actionable insights, we help our clients develop winning market strategies, so they can explore market-entry and growth opportunities to drive smart decisions.

Contact Us

UnivDatos Market Insights (UMI)
E-14B, Sector-8, Noida
India
Tel: 0120-4326511
Email: sales@univdatos.com
Web: https://univdatos.com

About UnivDatos Market Insights (UMI)

UnivDatos Market Insights (UMI) is a rapidly emerging market research firm that offers the most relevant and effective research solutions. With our unique approach to gathering valuable data and using actionable insights, we help our clients develop winning market strategies, so they can explore market-entry and growth opportunities to drive smart decisions.

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