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2021

Automotive RADAR Market

Automotive RADAR Market Size, Share, Competitive Landscape and Trend Analysis Report by Application, Frequency, Range and Vehicle Type Global Opportunity Analysis and Industry Forecast, 2021-2028

AT : Automotive systems and accessories

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Author's: Prateek Yadav | Lalit Janardhan Katare
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Automotive RADAR Market Statistics 2021-2028:

The global automotive RADAR market was valued at $4.08 billion in 2020, and is projected to reach $10.06 billion by 2028, registering a CAGR of 12.6% from 2021 to 2028.

Automotive RADAR is one of the leading technologies owing to its high precision and accuracy information content, including speed and range detection when compared to many other alternative sensors especially visual sensors. Automotive RADAR systems are the primary sensor adaptive cruise controls and play a very crucial role in the advance driver assistance system. In addition, automotive RADAR is one of the crucial sensors for collision avoidance, vehicle & pedestrian avoidance, and others. The automotive RADAR market is anticipated to exhibit remarkable growth rate during the forecast period owing to rise in demand for vehicle with safety features.

Automotive-Radar-Market-2021-2028

The key sensors used today on automobiles are RADAR and cameras, with ultrasonic technology playing a key role in short spans at lower velocities and LiDAR being utilized in autonomous driving. RADAR is extensively used as it has some exceptional features. RADAR can accurately detect the distance of an object. Long-range automotive RADARs can offer distance calculations on objects that are as far as 300 to 500 meters. RADAR enables essential measurements of parameters such as relative speed. Therefore, at the same time it delivers a measurement for speed and range..

The coronavirus pandemic significantly impacted the supply chain of automotive RADAR components to be used in safety systems across different vehicle types such as passenger and commercial.

In many aspects, the automotive industry is crucial for a robust global economy and the prosperity of a nation. The automotive industry is an essential component of economic growth of a nation and has extensive interconnections to upstream industries, such as chemicals, textiles, and steel, along with downstream industries such as mobility services, repair, and others. The automotive industry is labor-intensive and provides employment to thousands of workers. The automotive industry provides employment to around 14 million people in Europe, about 8 million in the U.S., and to approximately 5 million people in China.

This signifies the importance of the industry for a nation. The COVID-19 pandemic proved quite detrimental for the automotive sector. It has had a sudden impact on the global unified automotive industry. Indications include the interruption in export of Chinese automotive parts, huge manufacturing disruptions across Europe, and the shutting down of assembly plants in the U.S. This is placing an extreme pressure on an industry that is already managing a downshift in global demand.

The widespread outbreak of the novel coronavirus led to the sudden drop in import-export of non-essential items and only a small fraction of workforce was allowed to function in the factories. Further, the testing of systems was also impacted by the strict pandemic regulations. These caused a large supply-demand gap in the products and services related to automotive RADAR. The sales of automotive industry witnessed a drop.

Automotive RADAR Market
By Application
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Adaptive Cruise Control (ACC) segment is projected as the most lucrative segment

COVID-19 Impact Analysis:

After a miserable year for automotive industry (2019), which already witnessed a significant drop of approximately 5% in global auto production and that ended the upward trend of 10 years of progress, the global auto industry encountered a new, unique situation in 2020 owing to the COVID pandemic. The sales figures went all-time low in the recent years, as both the demand for new vehicles and their production was impacted severely. This impacted the revenue streams allocated towards the R&D and adoption of new technologies like automotive RADAR. However, with the rise in vaccination numbers globally, the pandemic’s impact on the automotive industry is expected to come down gradually over the span of a couple of years. The post pandemic demand for automotive RADAR-backed solutions is expected to grow appreciably as they offer superior comfort and safety to the vehicles.

Automotive RADAR Market
By Frequency
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77 GHz segment projected as the most lucrative segment

The automotive RADAR market is segmented on the basis of application, frequency, range, vehicle type, and region. Application segment includes adaptive cruise control (ACC), autonomous emergency braking (AEB), blind spot detection (BSD), forward collision warning system, intelligent park assists, and others. Further, on the basis of frequency, the market is categorized into 24 GHz, 77 GHz, and 79 GHz. By range, the market is classified into long-range RADAR (LRR), and short & medium range RADAR (S&MRR). Vehicle type includes passenger car and commercial vehicles. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The Asia-Pacific automotive radar market is expected to dominate the market in the near future, due to supportive macroeconomic factors such as increase in income, increase in purchasing power, and changes in lifestyle due to rapid urbanization and rise in awareness about active safety systems. In addition, countries, such as China, Japan, and India, are projected to witness significant demand for automotive radar system owing to increase in adoption of advanced driver assistance systems.

China is a largest regional market for automotive RADAR in Asia-Pacific. Top technology companies in China are collaborating for the development of innovative and advanced automotive radar systems to meet the demand for sensor powered vehicles. For instance, on April 2019, NXP Semiconductors, a Dutch chip manufacturer has partnered with Hawkeye Technology, a Chinese company specialized in automotive radars for the development of automotive radars owing to rise in demand for sensor powered vehicles in China.

Europe is expected to be the fastest growing market for automotive RADAR industry. The automotive RADAR market across the European region has gained immense traction due to the increased production of vehicles which offer advanced features. Moreover, manufacturers such as Robert Bosch GmbH, Valeo SA, Continental AG and others focus on the introduction of advanced safety technology in vehicles owing to developments in vehicle & vehicular technology. This supplements the growth of the global market. For instance, in April 2021, Continental AG launched surround RADAR sensors for Euro NCAP requirements through automated driving functions. Also, in December 2020, NXP Semiconductors has developed a complete suite of new radar sensor chipset solutions that can surround vehicles in a 360-degree safety cocoon and enable the identification and classification capabilities of imaging RADAR. Such developments carried out by technology driven companies’ supplement the growth of the market across the region.

The key automotive RADAR market players profiled in the report include Key players including Analog Devices, Inc., BorgWarner Inc., Continental AG, DENSO Corporation, NXP Semiconductors, Robert Bosch GmbH, Texas Instruments, Valeo, Veoneer Inc. ZF Friedrichshafen AG, and others.

Key Developments

  • In November 2022, BorgWarner Inc. announced the launch of a new diagnostic solution to its Delphi Technologies Aftermarket portfolio. The new diagnostic solution enables workshops on new ADAS technology. Further, with this launch, it has boasted an initial provision for 284 models with camera calibration and 146 models with radar calibration.
  • In June 2021, Valeo collaborated with Navya to ramp up the research and development program to build level 4 autonomous driving systems. This collaboration, will provide Navya with the sensors & associated algorithms and advance driving assistance system portfolio which includes, ultrasonic sensors, cameras, radars, and the first 3D LiDAR.
  • In April 2021, Continental AG launched surround radar sensors. Surround radar sensor is the sixth generation long-range radar for euro NCAP requirements through automated driving functions. Further, new generation radar sensors are a driver of innovation in modern vehicle solutions with an end-toend solution for connected cars.
  • In April 2021, Veoneer, Inc. received a contract to supply radar stereovision camera systems by Mercedes. The Mercedes EQS drive pilot system features, veoneer’s 4th generation stereo vision camera system, comprises of fully integrated hardware and perception software to overcome challenges of automated driving and 77GHz radar that has operating range of 150-meters with high range resolution and supreme angular accuracy

Automotive RADAR Market
By Range
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Short and Medium Range Radar (S&MRR) segment projected as the most lucrative segment

Rise in demand for safety features in automobiles

The 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 is experiencing an upward trend owing to increase in number of road accidents worldwide. Automotive radar is a major component of the advance driver assistance systems (ADAS), which can detect and classify certain objects on the road, and accordingly, alert the driver of the nearby surroundings and road conditions. In addition, these systems can also automatically decelerate or stop the vehicle depending on the road conditions. Road accidents are a major cause of death globally. Tremendous increase in the death rates due to road accidents has been observed. For instance, according to World Health Organization’s report, nearly 1.3 million people die in road traffic crashes each year. Moreover, road traffic injuries leading to death are higher among teenagers. These factors are leading to the surge in demand for safety features in vehicles. Companies operating in the automobile sector are developing and introducing the safety features to meet the needs of the customers. For instance, in February 2020, HELLA (company that manufacturers cutting-edge lighting and electronics components) announced the production plan for the latest 77 GHz radar technology.

As a crucial application of complementary metal oxide semiconductors (CMOS) radar, automotive radar is evolving as a key technology supporting the functioning of smart and autonomous features in modern vehicles, for instance, reducing driver stress, relieving drivers from repetitive tasks, and adding life-saving automatic interventions. These benefits are expected to increase the penetration of automotive radars during the forecast timeframe.

Automotive RADAR Market
By Vehicle Type
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Passenger Car segment projected as the most lucrative segment

Increase in demand for comfortable driving

Today, consumers are fairly inclined toward comfort while driving. Safety features, such as adaptive cruise control and parking aid systems, which use automotive radars are being introduced by manufacturers in high-end cars to offer greater comfort to drivers. However, the driver can overrule the system any time. Other systems such as night vision system, and others, that support the driver for lateral control of the vehicle are in continuous development phase. Automotive radar is used in these systems to detect the surrounding of the vehicle with high accuracy and precision. In addition, the demand for driver assistance applications has significantly increased in the recent years due to surge in the purchasing power of consumers and has influenced consumers to shift to more comfortable driving experience. Moreover, the per capita income of consumers has increased due to improvement in the economic condition of several developed countries like the U.S. and various European countries. Superior comfort offered by automotive radar assisted systems is expected to fuel the growth of the automotive RADAR market during the forecast timeframe.

Automotive RADAR Market
By Region
2028
Asia-pacific 
North America
Europe
LAMEA

Europe would exhibit the highest CAGR of 14.8% during 2021-2028.

Key Benefits For Stakeholders

  • This study presents analytical depiction of the automotive RADAR market analysis along with the current trends and future estimations to depict the imminent investment pockets.
  • The overall market potential is determined to understand the profitable trends to gain a stronger foothold.
  • The report presents information related to key drivers, restraints, and opportunities of the market with a detailed impact analysis.
  • The current automotive RADAR market size is quantitatively analyzed from 2020 to 2028 to benchmark the financial competency.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the automotive RADAR industry.

Automotive RADAR Market Report Highlights

Aspects Details
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By APPLICATION
  • Adaptive Cruise Control (ACC)
  • Autonomous Emergency Braking (AEB)
  • Blind Spot Detection (BSD)
  • Forward Collision Warning System
  • Intelligent Park Assist
  • Other ADAS Applications
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By FREQUENCY
  • 24 GHz
  • 77 GHz
  • 79GHz
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By RANGE
  • Long Range RADAR (LRR)
  • Short & Medium Range RADAR (S&MRR)
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By VEHICLE TYPE
  • PASSENGER CAR
  • COMMERCIAL VEHICLES
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By Region
  • North America  (U.S, Canada, Mexico)
  • Europe  (UK, Germany, France, Italy, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
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Key Market Players

NXP SEMICONDUCTORS, VEONEER INC, TEXAS INSTRUMENTS INCORPORATED, ANALOG DEVICES INC, CONTINENTAL AG, BORGWARNER INC, ZF FRIEDRICHSHAFEN AG, VALEO, DENSO CORPORATION, ROBERT BOSCH GMBH

Analyst Review

According to the insights of the CXOs of leading companies, the global automotive RADAR market is expected to grow at a remarkable rate in future owing to rising demand for safety and comfort features along with the rise in strict rules and regulations for increasing safety features in automobiles.

Factors such as rise in demand for safety features in automobiles and increase in need for comfortable driving boost the growth of the market. In addition, strict rules and regulations for safety features is anticipated to propel the growth of the automotive RADAR market. However, factors such as high cost & complex structure and low efficiency in bad weather conditions is anticipated to hamper the growth of the market. Further, increase in technological advancement and innovation in ADAS is expected to create numerous opportunities for the players operating in the automotive RADAR market.

Blind-spot monitoring, collision warning & mitigation, and object identification are some of the primary applications of automotive RADAR in ADAS. Object detection and blind-spot monitoring applications utilize RADAR technology, while collision mitigation systems leverage the data from the RADAR-based system to take preventive actions such as braking and counter steering to prevent road accidents. The frequency of vehicle RADAR has switched up to the 77-81GHz band in general. The angular separation capacity and radial speed resolution improve as we increase the frequency. It will be easier to implement a wider bandwidth since the broad bandwidth will be a little component of the center frequency. The broader bandwidth will result in increased range resolution.

The key market players profiled in the report include Analog Devices, Inc., BorgWarner Inc., Continental AG, DENSO Corporation, NXP Semiconductors, Robert Bosch GmbH, Texas Instruments, Valeo, Veoneer Inc. and ZF Friedrichshafen AG

Author Name(s) : Prateek Yadav | Lalit Janardhan Katare
Frequently Asked Questions?

The global automotive RADAR market was valued at $4,075.4 million in 2020, and is projected to reach $10.059.8 million by 2028, registering a CAGR of 12.6% from 2021 to 2028.

"Automotive radars are installed in automobiles to locate the object in the surrounding, which involves a transmitter and receiver. The transmitter in automotive radar sends out radio waves that hit the object and bounce back to the receiver. By managing the direction of the radio waves in which radio waves were sent and received, it is possible to detect the object’s distance, speed, and direction"

The sample for global automotive RADAR market report can be obtained on demand from the AMR website. Also, the 24*7 chat support and direct call services are provided to procure the sample report.

Number of RADAR used per vehicle is foreseen to increase. As numerous radar sensors are fitted in a vehicle that makes a crucial contribution to the overall function of autonomous driving, the increasing demand for superior safety and comfort features in vehicles is expected to propel the growth of the global automotive RADAR Market

"The post pandemic demand for automotive radar-backed solutions is expected to grow appreciably as they offer superior comfort and safety to the vehicles."

The company profiles of the top market players of automotive RADAR service industry can be obtained from the company profile section mentioned in the report. This section includes analysis of top ten player’s operating in the automotive RADAR market.

Asia-Pacific region is leading the market presently in terms of revenue and foreseen to maintain it's dominance over the forecast period.

By Vehicle Type, Commercial Vehicles segment is expected to gain traction over the forecast period in the global Automotive RADAR market.

Europe region is expected to provide significant business opportunities for the key players operating in the global automotive RADAR market.

The key growth strategies adopted by the automotive RADAR industry players includes product launch, business expansion, collaboration. These strategies opted by various industry players is leading to the growth of the automotive RADAR market as well as the players.

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Automotive RADAR Market