Report Code: A02097 | Pages: 218 | Jul 2021 | 21249 Views | ||
Author(s) : Prateek Y , Sonia M | Tables: 158 | Charts: 92 |
|
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Automotive Radar Market
Request Now !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.
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 the global demand. This impacted the revenue streams allocated towards the R&D and adoption of new technologies like automotive radar. However, with the growing vaccination numbers globally, the pandemic’s impact on the automotive industry is expected to come down gradually. Post pandemic demand for automotive radar-backed solutions is expected to grow appreciably as they offer superior safety and comfort to the vehicles.
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.
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.
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.
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 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.
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.
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.
Key Benefits For Stakeholders
Automotive RADAR Market Report Highlights
Aspects | Details |
---|---|
By APPLICATION |
|
By FREQUENCY |
|
By RANGE |
|
By VEHICLE TYPE |
|
By Region |
|
Key Market Players | BORGWARNER INC, DENSO CORPORATION, CONTINENTAL AG, ROBERT BOSCH GMBH, VEONEER INC, ANALOG DEVICES INC, NXP SEMICONDUCTORS, ZF FRIEDRICHSHAFEN AG, VALEO, TEXAS INSTRUMENTS INCORPORATED |
Loading Table Of Content...
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
A. 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.
A. "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"
A. 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.
A. 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
A. "The post pandemic demand for automotive radar-backed solutions is expected to grow appreciably as they offer superior comfort and safety to the vehicles."
A. 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.
A. Asia-Pacific region is leading the market presently in terms of revenue and foreseen to maintain it's dominance over the forecast period.
A. By Vehicle Type, Commercial Vehicles segment is expected to gain traction over the forecast period in the global Automotive RADAR market.
A. Europe region is expected to provide significant business opportunities for the key players operating in the global automotive RADAR market.
A. 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.
Start reading instantly.
This Report and over 53,743+ more Reports, Available with Avenue Library. T&C*.
Enterprise
License/PDF
Library
Membership
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
Get Industry Data AlertsTo ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers