Automotive Radar Sensors Market 2019 Global Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2019 To 2023
Using frequency modulated continuous wave (FMCW), radar sensors are ideally used for collision avoidance and other technology-driven safety features in the vehicles. Market Research Future (MRFR) has published a research report about the global automotive radar sensors market that foresees the massive gains at 19.26% CAGR (Compound Annual Growth Rate) for this market between 2017 and 2023.
The pivotal factors driving the growth of global automotive radar sensors market are increased the need for safety, rapid technology innovation, and stringent government regulations. Other factors aiding the market growth are growing electrification & mobility in the automotive industry, the increase in the production of the passenger as well as commercial vehicle, and lastly, the increase in the number of safety features.
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The key players in the global automotive radar sensors market include Autoliv Inc. (Sweden), Continental AG (Germany), Denso Corporation (Japan), First Sensor AG (Germany), Fujitsu Ten Ltd. (Japan) HELLA KGaA (Germany), Infineon Technologies AG (Germany), InnoSenT – Innovative Radar Sensor Technology (Germany), Kestrel Radar Sensors (England), NXP Semiconductors N.V (Netherlands), Robert Bosch GmbH (Germany), Texas Instruments Incorporated. (USA), Valeo S.A (France), and ZF Friedrichshafen AG (Germany).
The global automotive radar sensors market segmentation segments the market into application, range, vehicle type, and lastly, region. The application-based segmentation segments this market into adaptive cruise control (ACC), autonomous emergency braking (AEB), blind spot detection (BSD), forward collision warning system (FCWS), lane change assist (LCA), and others. During the forecast period, adaptive cruise control (ACC) segment is expected to dominate the market because this control allows the vehicle to automatically adjust the speed of the vehicle in order to maintain the safe distance between two vehicles.
Based on range, the market has been segmented into short range, medium range, and long range. During the forecast period, the short-range radar sensors segment is expected to hold the major market share due to the wide use of those sensors in adaptive cruise control systems. By vehicle type, the market has been segmented into the passenger car and commercial vehicle.
The regional segmentation of the global automotive radar sensors market has segmented the global market into regional markets known as the Asia Pacific, North America, Europe, the rest of the world (RoW). During the forecast period, North America is expected to hold the largest market share. In this region, the market is growing due to technological advancement, the development of increased safety feature systems in the vehicles, the presence of many key market players, and increase the demand for radar sensors. The important country-specific markets in this region are USA and Canada.
Europe has been estimated to be the second largest regional market due to increase production of the passenger as well as commercial vehicles. Other factors aiding market growth in this region are the presence of many key market players and technological advancement that is second only to North America. The vital country-specific markets in this region are France, Germany, Italy, and the UK, followed by the remaining countries of Europe. The Asia Pacific region is another crucial regional market due to high disposable income and growing sales of automobiles. The major country-specific markets in this region are China, India, and Japan, followed by the remaining countries of the Asia Pacific region.
Latest Industry News
- Embedded systems tool provider, dSpace GmbH, has forged a partnership with Miro-sys and Innovative Technical Systems (ITS). Specializing in the development of test systems for radar sensors, the partners are set to keep the partnership exclusive to the automotive sector, and they will not offer their radar expertise to any other player in this market. 10 JAN 2019
- Ainstein, a leader in intelligent radar systems, has launched the K-79 autonomous automotive imaging radar sensor in the market. This is the first commercially available sensor that has been optimized and validated for autonomous operation of vehicles in hazardous conditions, such as low-light and extreme dust. 15 JAN 2019
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