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(IT-NEWSWIRE.COM, October 23, 2019 ) Market Overview
• Automotive radar is one of the leading technologies, owing to its high information content, including range and speed detection when compared to many alternative sensors, especially visual sensors.
• Radar is becoming an important automotive technology in recent years. Automotive radar systems are the primary sensors used in adaptive cruise control and are critical sensor systems in Advanced driver assistance systems (ADAS). With more than 1 million annual road fatalities worldwide, safety has become a key focus for the whole automotive industry. According to the survey led by ‘Insurance Institute for Highway Safety’, one out of three people can be protected by having radar system in the vehicle.
• Especially for radar, European Commission has mandated a “permanent” band at 79 GHz and is required to be made available in all EU member states, which is regarded as the foundation for the future development of the automotive radar market.
Market Dynamics
• The Global Automotive Radar market growth is driven by a rise in number of RADAR sensors used per vehicle, rising demand for premium segment vehicles and stringent government safety regulations are the major drivers for the growth of the market. Rising demand for premium segment vehicles is the major driver for market growth.
• Major premium vehicle manufacturers such as BMW, Mercedes Benz, AUDI, and Volkswagen group are pushing the market growth worldwide. For instance, Mercedes-Benz has been the global luxury sales crown for the third consecutive year in 2018, outpacing its rival BMW by nearly 200,000 vehicles.
• Companies are focusing to launch radar safety as a standard feature. For instance, Lexus, the luxury vehicle division of the Japanese automaker Toyota announced that all its vehicles starting with the 2020 model year with radar safety features as a standard. Europe region has witnessed high demands for a premium car compared to other segment vehicles, which is increasing the adoption of radar systems in the region.
Market Segmentation
• Based on the application, the Automotive Radar market is segmented into adaptive cruise control, blind-spot detection, intelligent parking assistance, autonomous emergency braking, and forward-collision warning system. Adaptive cruise control has shown considerable growth in recent years with increasing demand for driver and passenger safety. The Adaptive cruise control segment size was worth USD XX billion in 2018 and is forecasted to reach USD XX billion by 2026, at a CAGR of XX% during the forecast period.
• Adaptive cruise control in road vehicles that automatically adjusts the vehicle speed to maintain a safe distance from vehicles ahead. Automotive radar systems are the primary sensors used in adaptive cruise control and are a critical sensor system in autonomous driving assistance systems. Adaptive cruise control does not provide full autonomy and the system only provides some help to the driver but does not drive the car by itself.
• Recently, automotive radar is implemented in many high-end cars to enable essential safety and comfort features including adaptive cruise control. For instance, Audi A4, Acura TLX, Buick Lacrosse, Chevrolet Blazer, Ford Expedition, Jeep Wrangler, Kia Niro are the various vehicle models supporting adaptive cruise control in an automotive radar system. Chevrolet Silverado (2020) and Toyato Corolla (2020) are the few vehicles that are about to launch with adaptive cruise control with an automotive radar system.
• Based on the frequency type, the Automotive Radar market is segmented into 24-29 GHZ and 77-79 GHz. For short and mid-range products, there’s more diversity with modules powered at 24 and 77 GHz and even 79 GHz. So far, 24-29 GHz has been more common for short-range applications, but 77-79 GHz is gaining traction. Long-range applications have adopted 77-79 GHz frequency worldwide. Regulatory approval of upcoming radar technology such as 79 GHz band radar across emerging markets such as India, Mexico, etc. can generate robust growth opportunities in the market.
• By vehicle type, the Automotive Radar market is segmented into a commercial vehicle and a passenger vehicle. and Based on the range, the Automotive Radar market is segmented into long-range radar and medium & short-range radar.
Geographical Analysis
• North America is an early adopter of technology owing to its active and advanced R&D base. For instance, as per the study of Auto Alliance, the U.S. approximately accounts for 18% of the overall automotive R&D expenditure in 2018. Furthermore, increasing demand for both semi-autonomous and autonomous cars are driving the growth of the market in North America.
• The Europe Automotive Radar market has an increasing number of radar sensors used for each vehicle is playing a vital role in the growth of the automotive radar market over the forecast period in the Europe region. The growing automotive industry in Europe is also one of the major drivers influencing growth in Europe. In Europe, the New Car Assessment Program (NCAP) is encouraging OEMs to adopt advanced driver-assistance systems (ADAS) in all new cars by implementing stringent safety requirements is likely helpful for the growth of the market.
• Countries in Europe are focusing on R&D for advanced radar technology. For instance, In France, R&D work has also been undertaken on 79 GHz ultra-wideband short-range radar technology financed by the French government, complementing work being carried out by PSA Peugeot Citroën Automobile.
Competitive Analysis:
• Global Automotive Radar Market is fragmented with many players present in the market globally. Some of the major players in the market are Continental, Infineon Technologies AG, NXP Semiconductors N.V., Denso Corporation, Magna International Inc., Autoliv Inc., ZF Friedrichshafen AG, Valeo S.A, Texas Instruments, Inc. and Hella KGaA Hueck & Co.
• In April 2019, NXP has formed strategic collaboration with Hawkeye Technology Co., Ltd. for both business and a technology play. The collaboration could open the door for the Dutch chipmaker to play a bigger role in China, where the growth rate of automotive radar is approximately twice that of the rest of the world.
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