This Automotive Radar market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Automotive Radar market.
Growing focus on active safety to decrease road accidents has shifted the focus of OEMs towards developing and incorporating new and advanced automotive radar systems. According to ‘Association for Safe International Road Travel’ (ASIRT), nearly 3,287 deaths per day are reported globally due to road accidents. Advancing automotive technology and concern to reduce road mishaps, has raised expectations for advance systems in vehicles such as automotive radar to improve vehicle safety. These systems transmits electromagnetic (EM) waves at microwave frequency and gather information with the help of electronic control unit about the obstacles within the vicinity of the vehicle.
As per the survey conducted by ‘Insurance Institute for Highway Safety’, one out of three lives can be saved by using radar system in the vehicle. Implementation of automotive radar systems in passenger and commercial vehicles started in early 90s, however owing to technological limitations, focus on further advancement slowed over the time. But, over the past decade, where active safety technology emerged as major hot spot for research, brought automotive radar system in the limelight again. Smaller devices with high operational frequency are being deployed so as to serve multiple applications. Furthermore favorable macro-economic and supportive regulatory framework is expected to create significant opportunity over the next few years. Regulatory approval of upcoming radar technology such as 79 GHz band radar across emerging markets such as India, Mexico etc. can generate robust growth opportunities in the market.
Global Automotive Radar Market: Drivers
No doubt, automotive safety regulations which emphasizes, and even mandates use of such advance safety technology across regions is expected to drive the demand. Favorable macro-economic environment such as growing urban population, increasing disposable income, improving employment rates and consumer confidence index across prominent economies such as U.S., Canada, Germany, France, China, South Korea and India is anticipate to propel market growth.
Additionally, increasing demand for advanced features such as cruise control will upsurge demand for automotive radars, thus driving the automotive radar market. Ongoing innovations in the functionality and designs have fuelled investments in the global automotive radar market.
Global Automotive Radar Market: Restraints
One of the major factor restricting the growth of the global automotive radar market particularly in emerging region is the high initial cost of the optical and mechanical parts including micro electro mechanical sensors (MEMS), micro mirrors over pressure or piezoelectric sensors. Moreover, technical issues such as risk of mutual interference are expected to moderately affect adoption of these technology.
Global Automotive Radar Market: Segmentation
The global automotive radar market can be segmented on the basis of type, frequency, technology, application and regions. On the basis of frequency, the market can be segmented into 24 GHz system, 77 GHz system and 79 GHz system.
By type automotive cruise control (long-range radar) and anti-collision (short-range radar) are the commonly known automotive radar systems. On the basis of application, the automotive radar market can be segmented into forward collision warning system, lane departure warning system, parking assistance, adaptive cruise control (ACC) and blind spot detection. On the basis of technology, the global automotive radar market can be segmented into millimeter wave radar, ultrasonic radar, LiDAR (Light Detection and Ranging) and camera.
Global Automotive Radar Market: Region Wise Outlook
On the basis of regions, Europe is expected to be the most promising region due to presence of giant OEMs. Furthermore, the European Commission’s 79 GHz project to use short range radar equipment for European countries, fueled penetration of automotive radar systems in the European market. As far as adoption of these advanced gadgets is concerned, North America is expected to be the next big market. Asia Pacific is projected to grow at a significant rate during the forecast period and unfold new opportunities for the market. Low manufacturing cost together with increasing automotive sales is expected to drive the growth of automotive radar market in Asia Pacific. Middle East & Africa is anticipated to exhibit positive growth potential during the forecast period.
Global Automotive Radar Market: Key Players
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology and applications.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Some of the key players identified in the global automotive radar market are as follows:
- Delphi Automotive LLP
- Autoliv Inc.
- Denso Corp.
- OmniVision Technologies, Inc.
- Robert Bosch GmbH
- Texas Instruments Inc.
- Valeo Group
- ZF TRW
- SaberTek, Inc.
- Analog Devices, Inc.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, N. Africa)
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Automotive Radar Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Automotive Radar Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Automotive Radar Market report?
In addition to up-to-date market figures and customized of the Automotive Radar Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.