Global Automotive RADAR Market to register 11.70% CAGR through 2026

June 18, 2020

According to a recent study titled ‘Global Automotive RADAR Market Size study, by Application (RADAR Based Adaptive Cruise Control (ACC), RADAR Based Autonomous Emergency Braking (AEB), RADAR Based Blind Spot Detection (BSD), RADAR Based Forward Collision Warning System, RADAR Based Intelligent Park Assist, RADAR Based Other ADAS Applications), by Frequency Type (2X-GHZ Systems , 7X-GHZ Systems), by Range Type( Long Range Radar (LRR), Short & Medium Range Radar (S&MRR), by Vehicle Type( Commercial Vehicles, Economic Passenger Vehicle, Luxury Passenger Vehicle, Mid-Price Passenger Vehicle) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global automotive RADAR market reached a valuation of USD 3.5 billion in 2019 and is projected to record a y-o-y growth rate of 11.70% through 2026.

Automotive RADARs are installed in automobiles to detect objects in vicinity of the vehicle. This sensing technology generally find application in passenger cars and commercial vehicles for providing drivers features like surveillance, navigation & guidance, target tracking, and traffic monitoring.

Growing number of road accidents, increasing government regulations regarding vehicle safety, and rising demand for premium vehicles are the key driving forces of global automotive RADAR market. Ongoing technological innovations aimed towards reducing impact of collisions and improving overall road safety, coupled with adoption of automotive safety systems is positively impacting the market outlook.

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According to WHO report 2018, 1.35 million deaths occur each year due to road accidents across the globe, prompting government to take proactive measures for lowering road fatalities and improving passenger safety. For instance, in September 2018, Ministry of Road Transport and Highways in India mandated driver assistance systems (DAS) in vehicles. Likewise, in July 2010, Europe adopted a legal framework under the directive 2010/40/EU for accelerating the deployment of ADAS (Advanced Driver Assistance System) in transport sector across the region. Similarly, the NHTSA (National Highway Traffic Safety Administration) in United States is working towards promoting the adoption of DAS. Similar government regulations across the globe are expected to boost the demand for automotive RADAR in the coming years. However, increase in overall vehicle cost may negatively impact the market growth over the forecast duration.

From a geographical front, Europe automotive RADAR market is expected to showcase considerable growth over the forecast period. Early adoption of various advanced technologies in Germany, along with presence of strict vehicle safety regulations are supporting the regional market expansion.

On the other hand, Asia Pacific automotive RADAR market is slated to grow tremendously during the forecast years, owing to factors such rising disposable income, spike in automobile sale, and growing awareness regarding vehicle safety systems.

Key players operating in global automotive RADAR market are NXP Semiconductors N.V., Infineon Technologies AG, Valeo S.A., Autoliv Inc., Delphi Automotive PLC, Denso Corporation, Continental AG, HELLA KGaA, Robert Bosch GmbH, and Texas Instruments Inc.

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