The global Automotive RADAR Market is projected to reach a market size of USD 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 assistance 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 use automotive RADAR systems, is also an important factor to be considered.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=75536718
“Europe is estimated to be the largest region in terms of volume”
In 2016, the largest regional market for the automotive RADAR is the European market, which holds a majority of the market share of the global automotive RADAR market by value and volume. The European Commission is also 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 do not have any time constraint, neither operative restriction burdens. This has geared-up the ADAS applications in the European region, ultimately impacting the automotive RADAR market.
“The 7X-GHz frequency band RADAR sensor is estimated to be the fastest growing segment”
The 7X-GHz frequency band was estimated to be the fastest growing segment of automotive RADAR market 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 more 7X-GHz systems at a lower cost. The European Commission is also in favor of legalizing the use of 79–GHz RADAR sensor for automotive ADAS applications.
Request for Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=75536718
“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. This is because most of the mid-priced passenger vehicles are being incorporated with the automotive RADAR based ADAS applications, which were initially equipped in luxury vehicles only. The reduced cost of components, along with 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 these features into the mid-priced passenger vehicles at an affordable price.
Blind spot detection market is estimated to account for the largest share in Automotive RADAR Market
The blind spot detection market is estimated to account for the largest share, in terms of volume, of the automotive RADAR based ADAS applications, and is projected to grow at a good rate. For instance, the European Parliament has mandated the use of Electronic Stability Control (ESC) and Advanced Emergency Braking System (AEBS) since November 2015. The system is expected to be equipped in all new commercial vehicles above 3.5 tons. As per the latest Euro NCAP rating, the models which are having AEB along with other ADAS features such as ACC and FCW will get better safety ratings. This regulatory move is further expected to drive the RADAR-based ADAS market.
