"We Envision Growth Strategies Most Suited
to Your Business"

Automotive Radar Market to Hit USD 3131.5 Million by 2027; Increasing Incidence of Road Fatalities to Spur Demand

September 24, 2020 | Automotive & Transportation

The global automotive radar market size is expected to reach USD 3131.5 million by 2027 owing to the increasing incidence of road accidents that is driving the demand for advanced automotive radar systems across the globe. This information is published by Fortune Business Insights in its latest report, titled, “Automotive Radar Market Size, Share & COVID-19 Impact Analysis, By Range (Short-Range, Medium-Range, Long-Range), By Application (Adaptive Cruise Control, Autonomous Emergency Braking, Forward Collision Warning System, Blind Spot Detection, Intelligent Parking Assistance), and Regional Forecast, 2020-2027.” The report further mentions that the market stood at USD 2313.1 million in 2019 and is likely to exhibit a CAGR of 6.5% between 2020 and 2027.


Continental AG Invests Euro 100 Million to Expand Texas Facility


One of the global automotive radar market leaders, Continental AG, in February 2020, announced its plan to build a new plant for radar sensors located in New Braunfels, Texas. The plant is being built with an investment of about Euro 100 million to expand the production capacity of the sensors for Advanced Driver Assistance Systems (ADAS) for automotive.


Frank Jourdan, Executive Board Member of Continental, said, “In the coming five years, Continental plans to escalate the investments in the areas of automated and assisted driving by a high triple-figure million Euro range. The expansion of the capacity in Texas is a part of our growth strategy.” Companies such as Continental are focusing on investing in R&D activities to develop innovative advanced automotive radar systems that will contribute to the market growth.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/automotive-radar-market-101688


Rising Cases of Road Accidents to Favor Growth


According to the World Health Organization (WHO), about 1.35 million people die owing to fatal road crashes every year across the globe. The rising cases of road accidents are propelling the automotive manufacturers to focus on developing efficient safety features such as intelligent park assist, adaptive cruise control, and advanced driver assistance in the vehicles. In addition to this, the introduction of technology further aids in the development of advanced automotive radar system that is expected to bode well for the growth of the global market in the forthcoming years.


Major Companies Focus on Expansion of Facilities to Boost Sales Revenue & Consolidate Position


The global market is consolidated by the presence of established players such as Continental AG, Bosch GmbH, and Denso, among others. These companies are focusing on expanding their facilities to cater to the increasing demand for advanced safety systems within automobiles. The adoption of strategies such as partnerships, the introduction of new products, and collaboration by key players to strengthen their positions in the highly competitive market will favor the market growth during the forecast period. 


Industry Development



  • October 2019 – Infineon Technologies announced the launch of a new microcontroller, TC3A. According to the company, the product has been specially designed to optimize 77 GHz automotive radar applications.


List of the Companies Operating in the Market:



  • Robert Bosch GmbH (Gerlingen, Germany)

  • Continental AG (Hanover, Germany)

  • Denso Corporation (Kariya, Japan)

  • Autoliv Inc. (Stockholm, Sweden)

  • Valeo SA (Paris, France)

  • Aptiv (Dublin, Ireland)

  • NXP Semiconductors (Eindhoven, Netherlands)

  • Texas Instruments Incorporated (Dallas, US)

  • ZF Friedrichshafen AG (Friedrichshafen, Germany)

  • Infineon Technologies AG (Neubiberg, Germany)


Further Report Findings:



  • Asia-Pacific is expected to remain at the forefront and hold the highest position in the global market during the forecast period. This is attributable to the increasing sales of automotive that drive the demand for an innovative automotive radar system in the region. The region stood at USD 1456.6 million in 2019.

  • The market in Europe is anticipated to showcase an exponential growth owing to the early adoption of technologically advanced driver assistance systems and the imposition of stringent traffic regulations in the region between 2020 and 2027.

  • The medium range segment, based on range, is expected to experience a considerable growth in the forthcoming years. This is ascribable to factors such as increasing demand for safety systems such as park assist, lane change assist, and others that are equipped with these radars.


Table of Segmentation:








































 ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD Million) & Volume (Thousand Units)



Segmentation



By Range



  • Short Range

  • Medium Range

  • Long Range



By Application



  • Adaptive Cruise Control (ACC)

  • Autonomous Emergency Braking (AEB)

  • Forward-Collision Warning System (FCWS)

  • Blind Spot Detection (BSD)

  • Intelligent Parking Assistance



By Geography



  • North America (U.S., Canada, and Mexico)

  • Europe (U.K., Germany, France, and Rest of Europe)

  • Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia- Pacific)

  • Rest of the World


Automotive Radar Market
  • PDF
  • 2019
  • 2016-2018
  • 200

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

Our Clients

Google
chong-kun-dang
procter-gamble-1
Ge-Healthcare
LG_Chem
Solvay_S.A._logo
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info.
X