According to the latest report by IMARC Group, titled “Automotive Radar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” offers a comprehensive analysis of the industry, which comprises insights on the global automotive radar market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global automotive radar market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 7% during 2021-2026.
Industry Overview and Application:
An automotive radar is a sensor system used to detect the speed and range of objects in the vicinity of a vehicle. The radar consists of a transmitter that sends out radio waves that hit the object and reflects back to the receiver, which determines the speed, distance and direction of the object. It is commonly available in short-range and long-range variants. They detect the exact position and velocity of the object and measures the distance and range accurately. As a result, automotive radar is widely used in autonomous emergency braking (AEB), forward collision warning (FCW), intelligent park assist, adaptive cruise control (ACC) and blind-spot detection (BSD) systems.
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Market Trends and Drivers:
- The global automotive radar market is primarily being driven by the rising demand for efficient passenger safety systems in automobiles.
- The automotive radar aids in detecting objects on the road and alerting the driver regarding any possible threats. Moreover, the increasing adoption of autonomous cars and the rapid electrification of vehicles are providing a thrust to the market growth.
- Other factors, including the implementation of favorable government initiatives to promote the adoption of vehicular safety systems, along with the increasing demand for luxury automobiles, are positively impacting the market growth.
Automotive Radar Market Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the global automotive radar market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Analog Devices Inc
- Aptiv plc
- Autoliv Inc.
- Continental AG
- Denso Corporation
- HELLA GmbH & Co. KGaA
- Infineon Technologies AG
- NXP Semiconductors
- Robert Bosch GmbH
- Texas Instruments Incorporated
- ZF Friedrichshafen AG
Automotive Radar Market Segmentation:
The report has segmented the global automotive radar market on the basis of range, vehicle type, application and region.
Breakup by Range:
- Long Range
- Medium and Short Range
Breakup by Vehicle Type:
- Passenger Cars
- Commercial Vehicles
Breakup by Application:
- Adaptive Cruise Control (ACC)
- Autonomous Emergency Braking (AEB)
- Blind Spot Detection (BSD)
- Forward Collision Warning (FCW)
- Intelligent Park Assist
Breakup by Region:
- North America
- Latin America
- Middle East and Africa
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