Automotive Radar Market Revenue of US$ 10.5 Bn by 2026 | CAGR 10%

Acumen Research and Consulting, Recently Published Report on "Automotive Radar Market Size, Share, Growth, Company Analysis and Forecast, 2019 - 2026"

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Mar 03, 2020, 08:55 ET

LOS ANGELES, March 3, 2020 /PRNewswire/ -- The Automotive RADAR Market is anticipated to achieve revenue of US$ 10.5 billion by 2026, with a 20.4% of CAGR.

Automotive radars are usually used in the automobile area to locate objects, such as vehicles and pedestrians. Automotive radar consists of a transmitter that sends radio waves to the receiver hitting an object and controls movement or direction of a car to radar. During the forecast period, the automotive radar market will grow as growing concern about the safety concerns that drive the vehicle contributes to the market development. The automakers also focus on self-sufficient cars, which will in turn increase the radar market for the automotive sector.

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The increased focus on active safety to reduce road accidents have turned OEMs on new and advanced automotive radar systems to develop and incorporate. According to the ASIRT (Association for Safe International Road Travel), nearly 3,287 deaths every day are globally reported as a result of road accidents. The advancement of automotive technology and the reduction of road accidents raised expectations of advance automotive technologies for advancements in automotive safety, such as automotive radar. The systems transmit electro-magnetic (EM) waves at the frequency of the microwave and collect information about the obstacles around the vehicle using the engine control unit.

The presence of giant OEMs is expected to make Europe the most promising region. In addition, the 79GHz European Commission initiative, which aims to use short-range radar for the European countries, fueled the penetration in the European market of automotive radar systems. North America is expected to be the next major market for the adoption of this advanced RADAR.

The United States Federal Communications Commission has expanded the available spectrum for automotive radars to include the entire 76-81 GHz band and to include 24 GHz transition radars. This change ensures that the spectrum is consistently allocated internationally to avoid adapting the radars for different markets in vehicles.

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In recent years there have been several innovative radar start-ups. These companies take various approaches. Some develop advanced SOI or CMOS node radars that support very large sizes of virtual channels. This can really allow 4D imagery, combined with its evolving processing techniques. Other methods such as the application of metamaterials to steer the radar beam electronically has been developed.

Automotive radar is likely adapted in different scenarios. For instance, city traffic has to be reliably detected despite the highly heterogeneously varying background, due to high target density and diversity. On the other hand, the challenges on roads involve the detection of high-speed and long-distance targets. This requires high-precision estimating the short and long distances, relative speed as well as the angular position and resolution in the relevant environment of several different targets.

The automotive radar industry includes established and emerging companies that invest to develop new solutions in their R&D activities. Some companies also focus on geographical expansion to establish themselves in worldwide markets. For instance, in 2016, Continental German Company expanded its business unit for ADAS systems in Asia. The company has developed algorithms and components for automated driving systems with its new business unit in China.

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A RASIC (Radar System IC) product range from Infineon Technologies will be used in the new LRR3 (third-generation long range radar radar) radar sensor system from Robert Bosch GmbH. For adaptive cruise control in areas of up to 250 m, Bosch has developed the LRR3. It is also used for predictive security functions based on radar such as brake protection systems, collision warning features and automatic emergency braking.

The automotive RADAR market is highly competitive and fairly concentrated, with top five companies Continental AG, Robert Bosch GmbH, Infineon Technologies AG, Hella GmbH & Co. kGaA, Valeo accounting for over 48% market share in 2018.

Segmentation:

By Range Type

Short Range RADAR
Medium Range RADAR
Long Range RADAR

By Frequency

2X-GHz
7X-GHz

By Application

Autonomous Emergency Braking (AEB)
Adaptive Cruise Control (ACC)
Blind Spot Detection (BSD)
Forward Collision Warning System
Intelligent Parking Assistance

By Geography

North America

US
Canada
Mexico

Europe

UK
France
Sweden
Norway
Denmark
Netherlands
Rest of Europe

Asia-Pacific

China
Japan
South Korea
Singapore
India
Rest of Asia-Pacific

Rest of the World

UAE
Qatar
Saudi Arabia
South Africa

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