#automotiveradar

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Automotive Radar Market Worth $12.16 Billion By 2025 | CAGR: 20.8%

The global automotive radar market 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 market.

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 growth of the automotive radar market.

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Further key findings from the study 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.

See More Reports of This Category: https://www.grandviewresearch.com/industry/automotive-and-transportation

About Grand View Research:

Grand View Research, Inc. is a 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. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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Automotive RADAR Market by Range Type (Long Range RADAR and Short & Medium Range RADAR), Application (ACC, AEB, FCWS, BSD, and Intelligent Parking Assistance), Frequency (2X-GHz and 7X-GHz), Vehicle Type, and Region - Global Forecast to 2021

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Explore: Future of Automotive RADAR Market by 2021!

According to the new market research report “Automotive RADAR Market by Range Type (Long Range RADAR and Short & Medium Range RADAR), Application (ACC, AEB, FCWS, BSD, and Intelligent Parking Assistance), Frequency (2X-GHz and 7X-GHz), Vehicle Type, and Region - Global Forecast to 2021", published by MarketsandMarkets™, The global Automotive RADAR Market is projected to reach a market size of USD 6.61 billion by 2021, growing at a CAGR of 23.81% from 2016 to 2021. The major factors driving the growth of this market include an introduction of driver assistance technologies as per government regulations in passenger as well as commercial vehicles and raising awareness about vehicle and pedestrian safety. The rising trend of autonomous and semi-autonomous vehicles, which use automotive RADAR systems, is also an important factor to be considered.

Browse and in-depth TOC on “Automotive RADAR Market”

84 - Tables 81 - Figures 189 - Pages

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“The 7X-GHz frequency band RADAR sensor is estimated to be the fastest growing segment”

The 7X-GHz frequency band was estimated to be the fastest growing segment of Automotive RADAR Market in 2016. The 7X-GHz systems are expected to drive the future RADAR growth as the majority of industry players are currently working on developing more 7X-GHz systems at a lower cost. The European Commission is also in favor of legalizing the use of 79–GHz RADAR sensor for automotive ADAS applications.

“The Mid-Priced Passenger Vehicle is estimated to be the fastest growing segment”

The mid-priced passenger vehicle type is estimated to hold the largest market size during the forecast period. This is because most of the mid-priced passenger vehicles are being incorporated with the automotive RADAR based ADAS applications, which were initially equipped in luxury vehicles only. The reduced cost of components, along with increased participation of major players across the eco-system, has also helped to reduce the overall cost of RADAR based ADAS features. This has favored the implementation of these features into the mid-priced passenger vehicles at an affordable price.

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“Europe is estimated to be the largest region in terms of volume”

In 2016, the largest regional market for the automotive RADAR is the European market, which holds a majority of the market share of the global Automotive RADAR Market by value and volume. The European Commission is also in favor of legalizing the use of RADAR based ADAS applications to increase vehicle safety. According to the ETSI standard (EN 302 264), the use of short-range vehicular RADAR operating in the 77 to 81 GHz frequency range is legalized and do not have any time constraint, neither operative restriction burdens. This has geared-up the ADAS applications in the European region, ultimately impacting the Automotive RADAR Market.

The Automotive RADAR Market consists of a various major system and chip manufacturers. Companies such as Robert Bosch GmbH (Germany), HELLA KGaA (Germany), Continental AG (Germany), Denso Corporation (Japan), Delphi Automotive PLC (U.K.), Autoliv Inc. (Sweden), and Valeo S.A. (France) are the system manufacturers and companies such as Infineon Technologies AG (Germany), NXP Semiconductors N.V. (The Netherlands) are the chip manufacturers in the Automotive RADAR Market.

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Automotive RADAR Market by Range Type & Application - Global Forecast 2021

According to the new market research report "Automotive RADAR Market by Range Type (Long Range RADAR and Short & Medium Range RADAR), Application (ACC, AEB, FCWS, BSD, and Intelligent Parking Assistance), Frequency (2X-GHz and 7X-GHz), Vehicle Type, and Region - Global Forecast to 2021", published by MarketsandMarkets™,  The automotive RADAR market size is projected to grow at the CAGR of 23.81% during the forecast period, to reach the USD 6.61 billion by 2021. Rising concerns pertaining to vehicle, driver, passenger and, pedestrian safety along with the increased involvement of players across the ecosystem have fueled the growth of the automotive RADAR market globally. The growing trend of autonomous vehicles is also a major factor that has contributed to the growth of this market.

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Blind spot detection market is estimated to account for the largest share in Automotive RADAR Market

The blind spot detection market is estimated to account for the largest share, in terms of volume, of the automotive RADAR based ADAS applications, and is projected to grow at a good rate. For instance, the European Parliament has mandated the use of Electronic Stability Control (ESC) and Advanced Emergency Braking System (AEBS) since November 2015. The system is expected to be equipped in all new commercial vehicles above 3.5 tons. As per the latest Euro NCAP rating, the models which are having AEB along with other ADAS features such as ACC and FCW will get better safety ratings. This regulatory move is further expected to drive the RADAR-based ADAS market.

Browse and in-depth TOC on "Automotive RADAR Market"

84 - Tables 81- Figures 189 - Pages 

View more detailed TOC @ https://www.marketsandmarkets.com/Market-Reports/automotive-radar-market-75536718.html

Adaptive cruise control system is estimated to have the highest growth potential which will further boost the demand for automotive RADAR market. This growth can be attributed to the proven benefits of the system in vehicle safety, increased autonomous level etc. National Transport Safety Board, U.S. has included adaptive cruise control in its ten most wanted safety improvements in 2013. Under Euro NCAP rating system also, these advance systems will help to get a better rating if it is incorporated in the vehicle.

The 7X-GHz RADAR sensor in the segment- by frequency band, is estimated to lead the automotive RADAR market during the forecast period. The high demand for the 7X-GHz RADAR sensor can be attributed to advantages offered by these sensors in various ADAS applications. 7X-GHz RADAR sensors are used in adaptive cruise control, emergency braking system and collision avoidance system among others. The market for these technologies is on the rise due to its better resolution and range capability.

Request for Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=75536718 Europe region is estimated to be the largest market for automotive RADARs during the review period due to the presence of Germany, an early adopter of various advance technologies in the world. Furthermore, the technology adoption rate is also high in other countries from this region such as U.K., Belgium, Netherland, etc. The region has some of the most stringent vehicle safety regulations which boost the market for advanced driver assistance technologies.

Key players in the market include Robert Bosch GmbH (Germany), HELLA KGaA (Germany), Continental AG (Germany), Denso Corporation (Japan), Delphi Automotive PLC (U.K.), Autoliv Inc. (Sweden), and Valeo S.A. (France) are the system manufacturers and companies such as Infineon Technologies AG (Germany), NXP Semiconductors N.V. (The Netherlands) are the chip manufacturers in the automotive RADAR market. These players are increasingly undertaking mergers and acquisitions, and product launches to develop and introduce new technologies and products in the market.