LONDON--(BUSINESS WIRE)--The global automotive radar sensors market is expected to post a CAGR of over 21% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the availability of high-frequency radar sensors. For long-range applications, the most used radar sensor is of 77 GHz frequency. For short and mid-range there is more diversity with the presence of 22-, 77-, and 79-GHz radar sensors, which are gaining traction in the market. The wide availability of 79-GHz radar sensor required for operating radar-based automotive safety systems will continue to promote the use and adoption of radar sensor units. Moreover, the 79-GHz radar sensor has been under the focus of various radar startups over the past couple of years. In addition, leading companies such as Continental also introduced this sensor in mid-2017. Driven by the availability of electromagnetic spectrum. Currently, radar-based systems offer driver safety and comfort features in vehicles. Thus, with many such advantages, the global automotive radar sensors market is expected to register a positive outlook during the forecast period.
This market research report on the global automotive radar sensors market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the growing emergence of intelligent transportation as one of the key emerging trends in the global automotive radar sensors market:
Global automotive radar sensors market: Growing emergence of intelligent transportation
The automotive industry is seeing an increasing demand in terms of connectivity in cars. Various new technologies are being integrated into vehicles to meet the current and potential future demands. The industry has seen a rapid evolution of infotainment to telematics, ADAS, and V2X. However, in every evolving technology, safety remains the topmost priority. Consumers of all ages consider safety as the main feature in a connected car. With regulations mandating several safety features, consumer demands are also pressurizing OEMs to offer new technology-enabled features, such as radar sensors and blind spot monitoring. These should become commonplace and may be a part of every car toward the end of the forecast period. As per NHTSA, three key technological innovations are aimed at reducing the road fatalities These include the in-vehicle crash avoidance systems, V2V communications, and autonomous vehicles.
“Apart from the growing emergence of intelligent transportation, the increased accuracy in perceiving environment through sensor fusion technique is another major factor that is expected to boost the growth of the global automotive radar sensors market during the forecast period,” says a senior analyst at Technavio.
Global automotive radar sensors market: Segmentation analysis
This market research report segments the global automotive radar sensors market by application (advanced emergency braking system, forward collision warning, and adaptive cruise control) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with a market share of over 39%, followed by EMEA and APAC respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth, followed by the EMEA region.
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Market Landscape
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Market Sizing
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Five Forces Analysis
Market Segmentation
Geographical Segmentation
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Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
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