Press release -
Automotive Radar System: Industry Updates
The report defines the automotive radar industry as a sensor that uses the radio frequencies in the detection of objects in the two-dimensional recognition area. Radar sensor technology is well-established sensor technology in the automotive industry as it has numerous applications including Adaptive Cruise Control, Blind Spot Detection, Intelligent Park Assist and others.
The global automotive radar sensor industry size is expected to grow approximately from USD 2428 million in 2016 to USD 7078 million by 2023, at a CAGR of 16.7% during 2017–2023.
The growing use of radar in the collision avoiding systems is driving the growth of the radar industry. The prevalence of vehicle accidents is rising rapidly. According to the World Bank, Over 1.25 million people are killed each year on the road. Thus the demand for collision avoidance system in the automobile is rising across the world. Radar in the in the anti-collision systems are placed in front of the vehicle to detect the presence of moving objects in their path, predict their speed, and direction. It also helps drivers to calculate how to maintain a safe distance from surrounded vehicles.
The radar sensor is used in the automotive, detects the obstacles in the path of moving vehicles and sent the alert signal to the drivers. These radar are work in both day and night and it also has a range of 200 meters and above. Radar sensor provides extremely accurate data with a minimum price that anticipated to boost the demand of radar in the automotive industry.
Global automotive radar industry by application segment covers several applications including adaptive cruise control, blind spot detection, intelligent park assist, autonomous emergency, breaking forward collision warning and others. The adaptive cruise control is a system that allows the automobile to change its speed according to the traffic environment. A radar sensor attached to the vehicle is used to detect the speed and the distance of the other moving vehicles around the system vehicle. The growing acceptance of these intelligent systems in the automotive is driving the growth of the radar sensor industry.
Global automotive radar industry by range type is classified into two segments including long-range radar and medium & short range radar. The long-range radar sensor detects the object in the range of 0.36–250 meter. The Medium & Short Range radar are worked in the range up to 0 to 160 meter. In addition, long-range radar is capable of providing accurate data at the maximum range are promote the growth of long-range radar in the automotive radar.
Geographically, North America holds the maximum industry shares in the radar sensor followed by Europe. The rapidly growing adoption of autonomous vehicles in the North America region drives the growth of the radar industry in this region. The stringent government regulations regarding the integration of intelligent anti-collision systems in the automobile are contributing to the growth of this industry in the North America region. In addition, Asia Pacific is the fastest growing region in the automotive radar industry owing to the growing automotive industry and the advancements in the technology of the sensor.
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