Global Automotive Radar Market : Insights and Forecast, 2021-2027
$4999 – $8699
Emphasis on Radar Range (Short Range Radar & Mid-Range Radar (S&MRR), Long Range Radar (LRR)), Applications (Adaptive Cruise Control, Autonomous Emergency Braking, Intelligent Parking Systems, Blind Spot Detection, Collision Mitigation System, Others)
Global Automotive Radar Market is expected to reach the market valuation of USD 11,165.5 million by 2027 expanding at a reasonable CAGR of 15.1% during the forecast period (2021-2027). Automotive radars are defined as distance sensors used to locate objects around the proximity of the Vehicle. It is a method of using radio waves that are used to determine the angle, range, size, and relative speed of objects across their vicinity. In today’s Vehicle safety systems, radars in conjunction with cameras, infrared, and other technology are used to acquire information about the Vehicles surrounding them. With this information, these systems can determine a driving situation and warn the driver of a potentially dangerous event. It can also command the Vehicle on its own and lessen the accident’s severity. Factors such as the adoption of radar technology in Vehicles, especially passenger and luxury vehicles. Other drivers in the market include increasing disposable income and increasing urban population. With increased disposable income, customers are influenced to adopt advanced technology products including radar technology in their Vehicles for better safety accelerating the market size of automotive radar.
The global appetite for premium segment Vehicles is witnessing a continuous rise as the manufacturers are diversifying their product ranges as per the new industry trends. It is accounted that the adoption rate of advanced driver assistance systems (ADAS) across luxury Vehicles is quite high in comparison to other segment Vehicles which is considered to accelerate the growth of the market. For instance, an increased number of luxury and SUVs in European countries is anticipated to spur the demand for Vehicles equipped with ADAS technology which would positively impact the market growth.
Continental AG, Robert Bosch GmbH, Denso Corporation, Delphi Automotive Plc, Infineon Technologies AG, NXP Semiconductors NV, Valeo SA, and Analog Devices Inc., Hella KGaA Hueck and Co, Texas Instruments Inc., are some of the prominent players operating in the automotive radar market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with automotive radars.
Insights Presented in the Report
“Amongst Range of Radar, short-range radar (SRR) system segment holds the major share”
Based on the range of the radar, the market is segmented into Short Range Radar Medium Range Radar and Long-Range Radar. The short-range radar (SRR) system primarily operates at the 24 GHz frequency band and requires a large bandwidth ranging from 3-5 GHz. The Long-range radar (LRR) operates at 77-81 GHz frequency band and showcases the promising future in the automotive radar market.
“Amongst Application, oncology segment holds the major share”
Based on Application, the market is segmented into adaptive cruise control (ACC), autonomous emergency braking (AEB), intelligent parking system (IPS), blind-spot detection (BSD), collision mitigation system (CMS), and others. Among such applications, adaptive cruise control held the largest market share of the global automotive radar market, followed by blind-spot detection and others. Adaptive Cruise control is a luxury feature that allows Vehicle cruise control systems to adapt the Vehicle’s speed to the traffic environment.
“Amongst Frequency Band, pathological segment holds the major share”
Based on different frequency bands, the global automotive radar market is fragmented into 2X-GHz and 77 GHz. The 2X-GHz is a frequency band that is used in automotive radar. It is a vital component of Short-range radar which is primarily being used for basic smart driving features such as blind-spot detection and collision avoidance system. In 2021, 2X-GHz radar held the maximum market share, however, due to the increase in demand for 7X-GHz radar, they are anticipated to be the fastest-growing and largest market by 2027.
“Amongst Vehicle Type, research labs segment holds the major share”
Based on vehicle type, the market is fragmented into passenger vehicles, luxury vehicles, and commercial vehicles. In 2020, the passenger vehicles segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. It is mainly owing to the factors such as rising cases of road accidents, demand for safety features, such as parking assistance, collision avoidance systems, lane departure warnings, traction control, electronic stability control, tire pressure monitors, airbags, and telematics are driving the market need for automotive radar in different types of vehicles.
“North America represents one of the largest markets of automotive radar market”
For a better understanding of the market dynamics of the automotive radar market, a detailed analysis was conducted for different regions across the globe including North America (US, Canada, Mexico, and the Rest of North America), Europe (Germany, UK, France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Singapore, South Korea, Rest of Asia-Pacific), Latin America (Brazil, Argentina, Chile, Rest of Latin America), and the Middle East and North Africa (UAE, Saudi Arabia, Alegria, Kuwait, Egypt, Qatar, Rest of MENA) has been conducted. Currently, North America holds an extensive market share and is expected to maintain its dominance throughout the forecast period. It is mainly owing to the increasingly stringent government regulation pertaining to road and vehicular safety and raising awareness of advanced safety features among end consumers. The US always wins the first-mover advantage when it comes to the adoption of any innovative technology.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
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|1.1. Market Definitions|
|1.3. Stake Holders|
|1.4. Currency used in Report|
|2.1. Research Process of the Automotive Radar Market|
|2.2. Research Methodology of the Automotive Radar Market|
|2.3. Forecasting Method|
|2.4. Respondent Profile|
|2.5. Main Objective of the Automotive Radar Market Study|
|3. MARKET SYNOPSIS|
|4. EXECUTIVE SUMMARY|
|5. GLOBAL AUTOMOTIVE RADAR MARKET COVID-19 IMPACT|
|6. GLOBAL AUTOMOTIVE RADAR MARKET REVENUE, 2019-2027F|
|7.1. Short Range Radar & Mid-Range Radar (S&MRR)|
|7.2. Long Range Radar (LRR)|
|8.1. Adaptive Cruise Control|
|8.2. Autonomous Emergency Braking|
|8.3. Intelligent Parking Systems|
|8.4. Blind Spot Detection|
|8.5. Collision Mitigation System|
|10.1. Passenger Vehicle|
|10.2. Luxury Vehicles|
|10.3. Commercial Vehicles|
|11.1. North America Automotive Radar Market|
|11.1.1. United States|
|11.1.4. Rest of North America|
|11.2. Europe Automotive Radar Market|
|11.2.6. Rest of Europe|
|11.3. Asia Pacific Automotive Radar Market|
|11.3.5. South Korea|
|11.3.7. Rest of Asia Pacific|
|11.4. Middle East & North Africa|
|11.4.2. Saudi Arabia|
|11.4.7. Rest of MENA|
|11.5. Latin America|
|11.5.4. Rest of Latin America|
|12.1. Market Drivers|
|12.2. Market Challenges|
|12.3. Impact Analysis|
|13. AUTOMOTIVE RADAR MARKET OPPORTUNITIES|
|14. AUTOMOTIVE RADAR MARKET TRENDS|
|15. LEGAL & REGULATORY FRAMEWORK|
|16.1. Demand Side Analysis|
|16.2. Supply Side Analysis|
|16.2.1. Top Product Launches|
|16.2.2. Top Business Partnerships|
|16.2.3. Top Business Expansions, Investments, and Divestitures|
|16.2.4. Top Merger and Acquisitions|
|17. VALUE CHAIN ANALYSIS|
|18.1. Porter’s Five Forces Analysis|
|18.1.1. Bargaining power of Supplier|
|18.1.2. Bargaining power of Buyer|
|18.1.3. Industry Rivalry|
|18.1.4. Availability of Substitute|
|18.1.5. Threat of new Entrants|
|19.1. Continental AG|
|19.2. Robert Bosch GmbH|
|19.3. Denso Corporation|
|19.4. Delphi Automotive Plc|
|19.5. Infineon Technologies AG|
|19.6. NXP Semiconductors NV|
|19.7. Valeo SA|
|19.8. Analog Devices Inc.|
|19.9. Hella KGaA Hueck and Co|
|19.10. Texas Instruments Inc|
Analyzing the historical market, estimation of the current market, and forecasting the future market of the global automotive radar market were the three major steps undertaken to create and analyze the adoption of automotive radar in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global automotive radar market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the automotive radar through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the automotive radar market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as radar range, application, frequency band, and vehicle type. Further country-level analyses were conducted to evaluate the overall adoption of automotive radar across the globe.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the automotive radar. Further, we conducted factor analysis using dependent and independent variables such as radar range, application, frequency band, and vehicle type. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the automotive radar sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the automotive radar market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of automotive radar across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the automotive radar market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the automotive radar market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of radar range, application, frequency band, and vehicle type of the automotive radar market.
The main objective of the Automotive Radar Market Study
The current & future market trends of automotive radar were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative rand quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of automotive radar in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of radar range, application, frequency band, and vehicle type
- Define and analysis of the regulatory framework for the automotive radar industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the automotive radar market for the major region
- Major regions studied in the report include North America, Europe, Asia-Pacific, Latin America, MENA
- Company profiles of the automotive radar market and the growth strategies adopted by the market players to sustain in the fast-growing market
Deep dive regional level analysis of the industry