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Global $9.47 Billion Automotive Radar Market 2016-2018 & 2023

/EIN News/ -- Dublin, Sept. 12, 2018 (GLOBE NEWSWIRE) -- The "Automotive Radar Market by Range, by Vehicle Type, by Application, by Geography - Global Market Size, Share, Development, Growth, and Demand Forecast, 2016 - 2023" report has been added to ResearchAndMarkets.com's offering.

Global automotive radar market size is projected to reach $9,475.4 million by 2023

The market growth is mainly driven by the growing focus on vehicle safety systems coupled with increasing vehicle production and sales, especially premium and luxury vehicles. Active government initiatives for increasing vehicle safety are expected to boost the market growth. Furthermore, with the decrease in radar prices, it has become possible for automakers to incorporate these safety systems in mid-priced vehicles. Thus, the market is expected to gain momentum in the coming years, driven mainly by the growing sales of mid-priced passenger cars.

Insights on market segments

Based on range, the automotive radar market is categorized into long range radars, and medium and short-range radars. The fastest growth during the forecast period is expected from medium and short range radars. This category is also expected to hold the larger share in the market throughout the forecast period. This can be ascribed to the greater usage of medium and short-range radars in in numerous systems including cross traffic alert, park assist, and blind spot detection.

On the basis of vehicle type, the automotive radar market is categorized into passenger cars and commercial vehicles. Passenger cars have been the dominant vehicle type in terms of market size. High sales of passenger cars and increasing awareness regarding vehicle safety features among passenger car customers, are the major factors driving the growth of this category.

In terms of application, the automotive radar market is categorized into adaptive cruise control (ACC), forward collision warning system (FCW), autonomous emergency braking (AEB), blind spot detection (BSD), intelligent park assist (IPA), and others. The ACC application category is expected hold the largest share in the market, with more than 35% contribution in 2017. However, the fastest growth during the forecast period expected from the FCW category owing to its rapid penetration premium and mid-priced passenger cars.

Europe stands as the largest automotive radar market

Europe is estimated to hold the largest share in the automotive radar market, with more than 30.0% revenue contribution in 2017. Owing to the increasing stringency in vehicle safety norms, the automotive component manufacturers have diverted their focus toward the development of low-cost radar based safety systems in the region. In addition, the region is the hub of major premium vehicle manufacturers such as BMW, Mercedes Benz, AUDI, and Volkswagen group, giving impetus to the market growth there.

North America is estimated to be the second largest regional market for automotive radar. The automotive radar market in the region is mainly influenced by rising commercial vehicles sales and regulatory developments, such as making automatic emergency braking as a standard feature for all vehicles by 2022. In addition, the region is an early technology adopter owing to its active and advanced R&D base. For instance, according to Auto Alliance, the U.S. approximately accounts for 18% of the overall automotive R&D expenditure.

Asia-Pacific is expected to be the fastest growing automotive radar market during the forecast period, owing to the growing installation of advanced safety features in passenger cars and increasing vehicle sales. Furthermore, the increased awareness regarding vehicle safety and active efforts to amend the use of 79 GHz for automotive application in regions such as South Korea, Hong Kong, Australia, Singapore, and Malaysia will boost the growth of the Asia-Pacific market.

Key Topics Covered:

Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Key Stakeholders

Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown Of Primary Research Respondents
2.2.1.1 By Region
2.2.1.2 By Industry Participant
2.2.1.3 By Company Type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions For The Study

Chapter 3. Executive Summary

Chapter 4. Introduction
4.1 Definition Of Market Segments
4.1.1 By Range
4.1.1.1 Medium And Short Range Radar
4.1.1.2 Long Range Radar
4.1.2 By Vehicle Type
4.1.2.1 Passenger Cars
4.1.2.2 Commercial Vehicles
4.1.3 By Application
4.1.3.1 Adaptive Cruise Control (Acc)
4.1.3.2 Autonomous Emergency Braking (Aeb)
4.1.3.3 Blind Spot Detection (Bsd)
4.1.3.4 Forward Collision Warning System (Fcw)
4.1.3.5 Intelligent Park Assist (Ipa)
4.1.3.6 Others
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Drivers
4.3.1.1 Growing Focus On Vehicle Safety Systems
4.3.1.2 Increasing Vehicle Production And Vehicle Sales
4.3.1.3 Impact Analysis Of Drivers On Market Forecast
4.3.2 Restraints
4.3.2.1 Design Challenges Related To Radars
4.3.2.2 Impact Analysis Of Restraints On Market Forecast

Chapter 5. Global Market Size And Forecast
5.1 By Range
5.2 By Vehicle Type
5.3 By Application
5.4 By Region

Chapter 6. Europe Market Size And Forecast

Chapter 7. North America Market Size And Forecast

Chapter 8. Asia-Pacific Market Size And Forecast

Chapter 9. Row Market Size And Forecast

Chapter 10. Company Profiles

  • Continental AG
  • Denso Corporation
  • Robert Bosch GmbH
  • Infineon Technologies AG
  • Valeo SA
  • NXP Semiconductors N.V.
  • HELLA KGaA Hueck & Co.
  • Texas Instruments Incorporated
  • Autoliv Inc.
  • ZF Friedrichshafen AG.

For more information about this report visit https://www.researchandmarkets.com/research/vb5w6j/global_9_47?w=12

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                    Related Topics: Telematics and Vehicle Electronics
                    

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