Global Automotive Radar Market is expected to
achieve significant growth over the forecast period on account of the advent of
driverless vehicles as well as its flourishing utility in the automotive safety
and assembly industry. The total market size is expected to be worth more than
USD 5 billion by 2024.
Ever-increasing
demand for automobile industry all over the world coupled with rising level of
customer expectations regarding safety and automation features are expected to
be the prime drivers for the industry. The advent of self-driven cars along
with a shift in customer’s tastes and preferences in favor of fully automated
driver assistance system is further expected to propel the market growth over
the forecast period.
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The automotive
radar helps in reducing traffic jams by assisting drivers with an efficient
decision support system. Also, the radar endeavors to eliminate human error
while driving thus diminishing the accident ratio, eventually minimizing the fatalities
and widespread economic losses associated with it. Moreover, the automotive
radar’s ability of indirectly increasing the fuel efficiency by streamlining
traffic control is further anticipated to fuel the market demand over the
foreseeable future.
Automotive Radars
are the core range and speed sensors installed in an automobile. The system
operates by emitting electromagnetic waves of radio-frequency and then
absorbing the waves reflected back by nearby objects and vehicles. Electronic
control unit (ECU) determines the distance and speed of the objects in the
vicinity and based on the processed output of ECU, the system sends alerts and
collision warnings to the drivers.
The automotive
radar system forms the basis of ADAS (Advanced Driver Assistance Systems). Its
robust features and ability to withstand and work in harsh conditions like bad
light, bad weather and extreme temperature makes them the most sought-after
product by the automobile industry, thus propagating positive prospects for the
future market growth.
Automotive Radars
are mainly available in three essential categories: Long Range Radar (LRR),
Medium Range Radar (MRR) and Short Range Radar (SRR) depending on the basis of
their range coverage and application utility. Long Range Radar (millimeter-wave
radar) is primarily used for adaptive cruise control (ACC) and delivers better
operational efficiency as compared to camera system and LiDARs. On account of
its high capabilities for velocity and distance detection, Milimeter-wave Radar
market is expected to experience positive growth in the near future.
Short Range Radar
systems are the Ultrasonic radars having detection capacity less than 5 meters,
predominantly used in blind spot and side impact detection. Also, these radars
provide parking assistance solutions. Severe government rules and regulations
regarding automotive safety is expected to fuel the installation of this
equipment in the vehicles, which in turn may boost the demand for ultrasonic
radars over the forecast period.
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The segment
comprises of 24GHz and 77GHz chips. 24GHz variants are envisaged to find their
application in various systems such as Rear Pre-crash System (RPS), Lane Change
Assist (LCA) and traffic jam assist. It also assists drivers in lane-crossing
by generating alerts about the rear vehicles. 77GHz are primarily used in
adaptive cruise control and autonomous emergency braking (AEB) systems.
Stop & Go
Adaptive cruise control system has two 24GHz chips on both sides and 77GHz
radar in the center. The arrangement helps in detecting object and distance in
the periphery of around 100-150 meters from the car. However, inaccuracy of
object classification and recognition capabilities may act as a major hindrance
in the growth of automotive radar market over the years to come.
Various major players
are now keen on developing next generation radars, such as 79 GHz variant,
which enables the drivers in executing semi-autonomous and autonomous decisions
efficiently. This system is competent in detecting pedestrian and bicycle
crossings and delivering superior operational accuracy. Camera based systems
are also anticipated to follow positive growth arc on account of stringent
government mandates for incorporating these systems in the vehicle. Rapid
Technological changes may further propel the demand for distance warning as
well as automatic emergency braking system in the near future.
On the basis of
range, these devices can be further classified into Narrowband (NB) and
ultra-wide band (UWB). They are driven by their ability to deliver greater
accuracy in object detection and tracking. They offer greater degree of
autonomy while driving by providing simultaneous 3D digital modeling. These
systems are expected to follow positive growth trajectory in the near future on
account of their superior performance and higher operational efficiency.
Europe is expected
to gain and maintain its market share in Automotive Radar market on account of
the presence of large number of automobile manufacturing companies in the
region. Tremendous automobile sales and lower manufacturing cost are the prime
drivers of growth in the Asia-Pacific region. United States is another major
playfield for automotive radar market, expected to witness substantial growth
on account of surging research and development activities.
Major players in
the automotive radar market include Continental Automotive, Autoliv, Delphi,
Valeo, Fujitsu Ten, Bosch, Hella and TRW (ZF).
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