Automotive Radar Market Research Report: Growth and Demand Forecast, 2016–2023

rahulgautam

Global automotive radar market size is projected to reach $9,475.4 million by 2023. The market growth is mainly driven by the growing focus on vehicle safety systems coupled with increasing vehicle production and sales, especially premium and luxury vehicles. Active government initiatives for increasing vehicle safety are expected to boost the market growth.

Automotive Radar Market by Range, Vehicle Type, Application and

Geography: Growth and Demand Forecast, 2016–2023

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Automotive Radar Market

Global automotive radar market size is projected to reach $9,475.4 million by 2023.

The market growth is mainly driven by the growing focus on vehicle safety systems coupled with increasing

vehicle production and sales, especially premium and luxury vehicles. Active government initiatives for

increasing vehicle safety are expected to boost the market growth.

Based on range, the automotive radar market is categorized into long range radars, and medium and short-range

radars. The fastest growth during the forecast period is expected from medium and short range radars. This

category is also expected to hold the larger share in the market throughout the forecast period.

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Automotive Radar Market

Europe is estimated to hold the largest share in the automotive radar market, with more than 30.0% revenue

contribution in 2017. North America is estimated to be the second largest regional market for automotive radar.

The automotive radar market in the region is mainly influenced by rising commercial vehicles sales and

regulatory developments, such as making automatic emergency braking as a standard feature for all vehicles by

2022.Asia-Pacific is expected to be the fastest growing automotive radar market during the forecast period,

owing to the growing installation of advanced safety features in passenger cars and increasing vehicle sales.

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Automotive Radar Market

The key players in the automotive radar industry are Continental AG, Denso Corporation, Robert Bosch GmbH,

Infineon Technologies AG, Valeo SA, NXP Semiconductors N.V., HELLA KGaA Hueck & Co., Texas Instruments

Incorporated, Autoliv Inc., and ZF Friedrichshafen AG.

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