“ Automotive RADAR Market by Type Range (Long RangeRADARand Short & Medium Range RADAR), Application (ACC, AEB, FCWS, BSD, and Intelligent Parking Assistance), Frequency (2X-GHz and 7X-GHz), Vehicle Type, and Region – Global Forecast to 2021 „RADAR“, Application (ACC, AEB, FCWS, BSD, and Intelligent Parking Assistance), Frequency (2X-GHz and 7X-GHz), Vehicle Type, and Region – Global Forecast to 2021 „ , is projected to grow at a CAGR of 23.81%, from USD 2.27 billion in 2016 to USD 6.61 billion by 2021. In terms of volume, the market is expected to reach 153.3 million units by 2021.
The major factors driving the growth of the automotive RADAR market are growing concern with the increasing involvement of vehicle, driver, passenger and pedestrian safety along the ecosystem.
Browse 84 market data tables and 81 figures spread through 189 pages and in-depth TOC on „AutomotiveRADAR Market by Range Type (Long Range RADAR and Short & Medium Range RADAR), Application (ACC, AEB, FCWS, BSD, and Intelligent Parking Assistance), Frequency (2X-GHz and 7X-GHz), Vehicle Type, and Region – Global Forecast to 2021 “
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“ Increasing stringency of the safety regulations and growing focus towards autonomous and semi-autonomous cars to fuel the demand for automotive RADAR market“
The global automotive RADAR market is projecting to reach a market size of $ 6.61 billion by 2021, growing at a CAGR of 23.81% from 2016 to 2021. The major factors driving the growth of this market include the introduction of driver technologies as per government regulations in passenger as well as commercial vehicles and raising awareness about vehicle and pedestrian safety. The rising trend of autonomous and semi-autonomous vehicles, which uses automotive RADAR systems, is therefore considered to be an important factor to be.
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„The 7X-GHz frequency band RADAR sensor is estimated to be the fastest growing segment“
The 7X-GHz frequency band is estimated to be the fastest growing segment of automotive RADARmarket in 2016. The 7X-GHz systems are expected to drive the future RADAR growth as the majority of industry players are currently working on developing 7X-GHz systems at a lower cost. The European Commission is thus in favor of legalizing the use of 79 GHzRADAR sensor for automotive ADAS applications.
„The Mid-Priced Passenger Vehicle is estimated to be the fastest growing segment“
The mid-priced passenger vehicle type is estimated to hold the largest market size during the forecast period. RADAR based ADAS applications, which were initially equipped in luxury vehicles only. The reduced cost of components, along with the increased participation of major players across the eco-system, has also helped to reduce the overall cost of RADAR based ADAS features. This has favored the implementation of mid-priced passenger vehicles at affordable price.
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„Europe is estimated to be the largest region in terms of volume“
In 2016, the largest regional market for the automotive industry is the European market, which holds the majority share of the global RADAR market by value and volume. The European Commission is therefore in favor of legalizing the use of RADAR based ADAS applications to increase vehicle safety. According to the ETSI standard (EN 302 264), the use of short-range vehicular RADAR operating in the 77 to 81 GHz frequency range is legalized and does not have any time constraint, neither operational restriction. This has been geared-up for the ADAS applications in the European region, ultimately impacting the automotive RADAR market.
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