According to a new report by Market Research Future, the global automotive radar sensors market is predicted to showcase 19.26 % CAGR over the assessment period (2017-2023) owing to the rise in number of road accidents worldwide. Safety has evolved as the primary concern for the pedestrians and passengers. As per the Insurance Institute for Highway Safety, one out of every three fatal crashes can be avoided if vehicles are well equipped with collision avoidance systems.
Future Drivers and Constraints
Automotive radar sensors are used in several applications such as blind spot detection, forward collision warning system, parking assistance, autonomous braking, adaptive headlights, lane departure warning, and adaptive cruise control. Automakers worldwide have started to incorporate basic collision avoidance system in their mass-market models. Due to the growing number of road accidents, the emphasis is on improved road safety laws for making vehicles safe for driving purpose. This has resulted in the increased consumption of advanced driver assistance system and demand for automotive radar sensors market.
Moreover, advanced technology in clean transportation and automobiles, government policies for driver safety to reduce fatal accidents, and environmental concerns encourage the manufactures to manufacture efficient and environment-friendly vehicles. This has led to the growth in the demand for automotive radar sensors worldwide. The radar sensor is highly dependant on the growth of the automotive industry. Thus, increase in the production of commercial and passenger vehicles with impact the growth of radar sensors market.
Meanwhile, high cost associated with radar sensors and corresponding technology is one of the major factors inhibiting the growth of the market over the assessment period.
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Global Automotive Radar Sensors Market Segmentation
The global automotive radar sensors market has been segmented on the basis of application, range, vehicle type, and region.
By mode of application, the global market for automotive radar sensors has been segmented into Lane Change Assist (LCA), Adaptive Cruise Control (ACC), Forward Collision Warning System (FCWS), Autonomous Emergency Braking (AEB), Blind Spot Detection (BSD), and others. Among these, the segment for Adaptive Cruise Control is predicted to dominate the market over the forecast period as it allows vehicles to adjust the vehicle speed and maintain a safe distance between two vehicles.
By mode of range, the global market for automotive radar sensors has been segmented into short, medium, and long range. Among these, the segment for short-range radar sensors is predicted to dominate the market owing to the extensive use of sensors in adaptive cruise control systems.
By mode of vehicle type, the global market for automotive radar sensors has been segmented into passenger car and commercial vehicle.
North America to Hold the Largest Market Share
Geographically, the automotive radar sensors market spans across Asia Pacific, North America, Europe, and Rest-of-the-World. North America has been anticipated to hold the largest market share over the forecast period owing to the development of safety feature system in vehicles. The increasing demand for high-end luxury cars with latest technologies incorporated in them will lead to the market growth over the assessment period. Germany is anticipated to dominate the market over the review period in this region due to the increased sales and production of vehicles. Moreover, the presence of various market giants is expected to stimulate the market growth.
Europe is predicted to hold the second position owing to the increased production of commercial and passenger vehicles. In the Asia Pacific region, there is increased production of new vehicles in countries such as Japan, India, and China. Moreover, the adoption of ADASs in the automotive industry is one of the major factors affecting the market growth over the assessment period.
Rohde & Schwarz has developed the new R&S AREG100A automotive radar echo generator in cooperation with the automotive industry, for the final test and inspection on OEM and Tier 1 production lines. The R&S AREG100A is a customized solution and fulfills all requirements for reliable operation and is easy to operate.
Some of the prominent market players operating the global automotive radar sensors market are First Sensor AG (Germany), Kestrel Radar Sensors (England), NXP Semiconductors N.V (Netherlands), Denso Corporation (Japan), InnoSenT – Innovative Radar Sensor Technology (Germany), Valeo S.A (France), Continental AG (Germany), HELLA KGaA (Germany), Texas Instruments Incorporated. (U.S.), Autoliv Inc. (Sweden), Infineon Technologies AG (Germany), ZF Friedrichshafen AG (Germany), Robert Bosch GmbH (Germany), FUJITSU TEN Ltd. (Japan), and others.
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