Radars play an important role in detecting objects in several safety systems, including pedestrian detection system, automated emergency braking, adaptive cruise control, and blind spot detection. Their implementation allows accurate detection of objects and augments vehicle safety. Automotive radars can be long range, medium range, or short range.
Demand from Passenger Vehicles to Experience Sharp Rise through 2025
Automotive radars find application in passenger vehicles and commercial vehicles. Passenger vehicles will account for a larger share through 2025. Rising awareness regarding vehicle safety among mid-priced vehicles owners is stimulating the growth of the segment. Spiraling sales of luxury vehicles are also contributing to the growth of the market. A large number of luxury vehicle manufacturers are incorporating features such as vehicle autonomy to enhance their visibility in the market. Thus, it becomes essential for them to focus on improvement of the radar technology and subsequently on radar size reduction. For instance, Audi is using Infineon’s radar sensor chips for its A8 models, the world’s first series production car offering level 3 automated driving.
The commercial vehicles segment also offers significant potential to automotive radar manufacturers. Booming logistics industry and e-commerce are translating into the greater sales of commercial vehicles. Growing trend of vehicle autonomy in commercial vehicles is supplementing the growth of the segment.
Market insights
According to a report by Grand View Research, Inc.; the global automotive radar market is projected to post a CAGR of 20.8% between 2017 and 2025 (forecast period). Strict government regulations for promoting driver and passenger safety are escalating the development of vehicle safety systems. This, in turn, is likely to stoke the growth of the market. Declining prices of electronic products used in vehicles are expected to help the market to gain remarkable momentum. This coupled with growing vehicle electrification will further drive the market.
Europe was at the forefront of growth in 2016. The growth of the market can be attributed to stringent safety norms implemented by European Commission (EC) and flourishing automotive sector in Germany. Some of the prominent companies operating in the market are Delphi Automotive PLC, Continental AG, Robert Bosch GmbH, Denso Corporation, and Texas Instruments.
No comments:
Post a Comment