Automotive Radar Market Is Likely To Register Double Digit CAGR During 2017 To 2031

The study by Fact.MR sheds light on the incorporation of path-defining and disruptive technology that is radically changing the face of the automotive radar market. Innovations in automotive radars are spelling success for key stakeholders in the market as they circumvent treacherous driving conditions with the advent of specialized radars. These radars are smaller, spherical and shape and are paving the way for an immersive 360-degree view of the landscape thus affording drivers with a seamless and a smooth driving experience. Delivering top-notch efficiency, these new and improved radar solutions are spearheading a robust growth of the automotive radar market over the forecast period. Till now limitations in radar resolution have inhibited the growth of automotive radar market to some extent. However, ultra-high resolution technology using 4D technology will play a pivotal role in not only improving the functionality of automotive radars but also provide a 4 dimensional experience which will help to mitigate driving risk and enhance safety. Fact.MR opines that leading industry stakeholders could easily capture top revenue pockets of this market through affordability and exclusive proprietary rights on product portfolios.

Advanced Driver Assistance Systems (ADAS) will soon be mandated with the promulgation of a stringent regulatory environment by regions that are leading in the automotive radar market. Europe which intends to make its roads the safest in the world will benefit immensely with the proliferation of automotive radar technology. As the race towards development of self-driven automotive technology gathers momentum, the automotive radar market will gain immense traction. With governments zeroing in on regulations that obliterate and eliminate road accidents, this will create a favorable scenario for autonomously driven vehicles thus promising attractive growth prospects for the automotive radar market.

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The efficacy of LIDAR (Light Imaging Detection and Ranging) in detecting environmental phenomena will find its utilization in automobiles. Its advantages of providing monochromatic imaging of objects using shorter wavelengths gives it a slight edge over the automotive radar. This could be an inhibiting factor in the growth of the automotive radar market. However, the cost-effectiveness of automotive radars and its ability to function in extreme environmental conditions will enhance its popularity in the foreseeable future. Beyond the technology fascination of self-driven cars, there are some disadvantages that could impede the growth of the automotive radar market. Automotive radar heavily relies on the assistance of GPS. The combination of self-driven and driver assisted cars may lead to confusion on the roads and decreased road safety. Also GPS assistance will leave a minimal positive impact in regions where road infrastructure is yet to revolutionize. Since automotive radars use sensor technology, these are prone to failure leading to unfamiliar and dangerous road consequences. Hence, their complete incorporation in the automotive arena remains a cloudy prospect as per Fact.MR’s study.

Automotive Radar Market – Road Fatality Reduction Will be a Key Opportunity

It is important to note that automotive radars are being chiefly deployed to give the driver a safe navigational experience and also to mitigate risk associated with road fatalities, casualties and accidents.

Towards this, a plethora of regulatory initiatives have come to the fore, stringently imposed by governments. Europe has recently championed and prompted a staunch regulatory framework that empowers its roads to become the safest in the world. As European governments popularize the utilization of autonomous vehicles, the automotive radar market will gain immense traction over the forecast period.

The advent of automotive radar technology will fulfill the prime objective of zero-fatalities on the roads. Proliferation of Advanced Driver Assistance Systems (ADAS) has been possible due to improvements in radar technology.

ADAS systems are also likely to become government mandated in the near future with recently introduced legislations such as emergency brake assist and the increased adoption of rear view facing cameras.

Automotive radar based safety systems are paving the way for blind spot and side impact detection along with radars which have mid-range and long-range features for adaptive cruise control. This has been made possible with the help of embedded technology.

For instance, new and improved embedded MCUs and 77 GHz mm wave integrated circuits that are specifically designed for radar uses and applications. Thus embedded technology is acting as a force multiplier to the already existing arsenal of intriguing ADAS solutions.

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Leading Players Make Massive Inroads with Research Initiatives and Collaborative Strategies

Robert Bosch GmbH, headquartered in Stuttgart, Germany and Continental AG with its headquarters in Hanover, Germany are two of the leading players in the automotive radar market. Robert Bosch has made massive inroads in the automotive radar market space with critically timed acquisitions, mergers and takeovers.

In the year 2017, Robert Bosch entered into a collaboration with Tom Tom to launch a unique HD map with an integrated radar road signature layer for the localization of vehicles in autonomous driving. It has also showcased its prowess in research and development that has enabled it to come out with innovative products and solutions.

Bosch has partnerships with myriad universities and research institutes with a keen focus on information technology and sensors. It has also procured proprietary patent rights for all its products thus giving it an edge.

It is said that the company has employed nearly 60,000 individuals who are purely focused on the company’s R&D activities. The company also leverages its growth with its profoundly strong operational network that efficiently serves its humungous customer base.

The meteoric rise of Continental AG has been its single minded focus on providing scalable and innovative protection systems for vehicle occupants as well as ADAS that uses automotive radars to fulfill safety and comfort functions. The company has smartly strategized its expansion by entering into agreements with other players in the market.

Continental signed an agreement with Nexteer automotive in the year 2017 in a joint venture focused on the development of motion control systems and actuator components for automated driving.

It also entered into a partnership with AND to enrich map and location data with the requisite sensor data collected from vehicles. Its biggest strength has been its ability to multiply by leaps and bounds in all the major markets of the world thus mitigating the risk associated with overdependence on only one region.

It provides automotive parts with operations in about 46 different countries of the world with Europe accounting for a major chunk of the company’s total revenue.

Key Segments of the Automotive Radar Market

Fact.MR study on the automotive radar market offers information classified into four important segments: range, sales channel, application, and region. This market report proposes comprehensive data and information about the important market changing aspects and evolution structures related with these categories.

Range

• Long Range
• Mid-Range
• Short Rangea

Sales Channel           

• OEM
• Aftermarket

Application   

• Adaptive Cruise Control
• Autonomous Emergency Brake
• Autonomous Park Assist
• Blind Spot Information
• Other Applicationsa

Region           

• North America
• Latin America
• Europe
• Japan
• APEJ
• MEA

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