Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The market for automotive radar sensors has changed drastically in terms of positioning strategies of market shares, which was supported by the latest technological advancements, changes in regulations and evolving competitive landscapes. Innovation and differentiation are one common strategy employed by the players on the market. The firm is continually investing in research and development to bring out radar sensors that have more features like increased precision, longer distance ranges, superior object detection among others. By providing state-of-the-art characteristics and improved performance, organizations set themselves apart from others to get bigger pieces of the pie while gaining a competitive edge in the automotive radar sensors industry.
In addition, partnerships and alliances have emerged as key strategies for market positioning. This is shown by many companies joining hands with automakers, technology providers or any other stakeholders in auto industries. Through these agreements, car manufacturers become capable of integrating radar sensors into their vehicles as well as utilizing higher distribution channels for their existing products within the auto industry. Moreover these collaborations aid design of customized solutions targeting particular automotive uses thereby strengthening their presence within markets whilst widening their customer base.
Moreover, geographical expansion remains a significant phenomenon aimed at increasing market share. Due to growth occurring in different parts of the globe within automobile sector; firms are aiming emerging economies or those regions having potential to exhibit high growth rate. In various places across the world through local manufacturing including sales outlets and distribution lines plus all such arrangements will help capture large portions of this particular type of market niche.
Furthermore, diversification into new products and expansion of existing product portfolio plays an important part in company’s marketing strategy resulting into better position within a given marker segment. From just making normal quality radars for collision avoidance purposes businesses are now manufacturing radars used in advanced driver assistance systems ADAS/ autonomous driving applications (ADAs). This broadening assists to meet diverse demands from consumers thus enabling them to be seen as comprehensive solution providers hence positioning themselves optimally.
Additionally, cost competitiveness together with optimization strategies are indispensable in positioning of market share. The aim of firms therefore becomes optimization of manufacturing procedures, lowering cost of production and improving overall performance without compromising on quality of products. Thus, they can successfully address the price sensitive segments within the automotive market by supplying affordable radar sensors and therefore gain a wider range of customers.
Moreover, regulatory compliance is one essential factor to consider when strategizing on how to command market shares. In this case, companies that focus more on meeting these standards will certainly be favored by those who set such requirements for the industry. For example, strict legal frameworks require installation of radar sensors into vehicles so in case an organization can meet all those measures it gains its place in the market for such devices.
Market position strategies in the automotive radar sensors industry are based on innovation, partnerships, geographical expansion, product diversification, cost leadership as well as regulations compliance. These approaches assist them in gaining a grip within existing markets while enabling them to enter new ones with differentiated products hence maintaining their competitive edge across this crowded field. As auto industry continue evolving, companies which have been able to adapt themselves to various changes will most likely grab considerable sections in terms of shares and drive further development towards radar sensor technology application in motor vehicles.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | Technology innovation, increased need for safety, and stringent government regulations Increase in the production of passenger and commercial vehicleKey Market DynamicsGrowing demand of radar sensors in technologies, such as advanced driver assistance system |
| Market Dynamics | Growing demand of radar sensors in technologies, such as advanced driver assistance system |
Automotive Radar Sensors Market Highlights:
Automotive Radar Sensors Market Scenario:
The Automotive Radar Sensors Market is projected to grow from USD 2571.5 Million in 2021 to USD 5787.14 Million by 2032, exhibiting a compound annual growth rate (CAGR) of 9.4% during the forecast period (2023 - 2032). The factors that are responsible for the growth of automotive radar sensors market are technology innovation, increased need for safety, and stringent government regulations. The automotive industry has been witnessing electrification and mobility. The radar sensors technology is majorly dependent on the growth of automotive industry.
The increase in the production of passenger and commercial vehicle will directly impact the growth of the radar sensors market. The total four wheeler production volume was approximately 90 million units in 2015 and is expected to witness further growth and surpass 100 million units by the year 2020. The increase in the number of safety features in the vehicles will result in growing demand of radar sensors in technologies, such as advanced driver assistance systems. This will lead to the growth of automotive radar sensors market in future.
Radar sensors generally use Frequency Modulated Continuous Wave (FMCW) radar to detect moving or stationary objects. Radar sensors are ideally used for collision avoidance and other technology-driven safety features in the vehicles. They are generally used to identify distance and the speed of the vehicle such as how far away is the object from the vehicle so as to reduce the chance of accident. It emits a radio wave that moves at the light speed and returns the waves back to the radar device. Driver safety is one of the major challenge, currently and will remain so in the future. The use of radar sensors will reduce road accidents and will increase the safety of drivers. They are generally used in Lane Change Assist (LCA), Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Blind Spot Detection (BSD), Forward Collision Warning System (FCWS), and others.
The automotive radar sensors market is segmented based on range, application, and vehicle type. On the basis of application, the market is segmented as on Lane Change Assist (LCA), Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Blind Spot Detection (BSD), Forward Collision Warning System (FCWS) and others. Adaptive Cruise Control (ACC) segment is expected to dominate during the forecast period because it allows the vehicle to automatically adjust the speed of the vehicle to maintain the safe distance between two vehicles. On the basis of range, the market is segmented as short range, medium range, and long range. Short range radar sensors segment is expected to dominate the market in future due to the wide use of those sensors in adaptive cruise control systems.
Key Players
The key players in automotive radar sensors market are Robert Bosch GmbH (Germany), HELLA KGaA (Germany), Continental AG (Germany), Denso Corporation (Japan), Autoliv Inc. (Sweden), Valeo S.A (France), Infineon Technologies AG (Germany), NXP Semiconductors N.V (Netherlands), Texas Instruments Incorporated. (U.S.). InnoSenT - Innovative Radar Sensor Technology (Germany), First Sensor AG (Germany), Kestrel Radar Sensors (England), ZF Friedrichshafen AG (Germany), FUJITSU TEN Ltd. (Japan) are among others.
Automotive Radar Sensors Industry Developments:
January 2024: Texas Instruments (TI) has introduced new semiconductors designed to improve automotive safety and intelligence.
In a company release, TI says that AWR2544 is its first 77GHz mm-wave radar sensor chip for satellite radar architectures that would allow more autonomy through improved sensor fusion and decision making in ADAS.
DRV3946-Q1, which combines the contactor driver and DRV3901-Q1 pyro fuse squib drivers into a single device, enable integrated diagnostics for battery management and support functional safety applications in power train systems.
At the US’ 2024 Consumer Electronics Show (CES), TI will showcase these products.
From advanced driver assistance systems to more intelligent electric vehicle powertrains, TI is working with automobile manufacturers on how to reimagine reliable and smart technology that can make vehicles safer.
To improve vehicle safety and autonomy, many automakers are adding more sensors around the car. The first single-chip radar sensor made by TI for satellite architectures is AWR2544. In satellite architectures, the output of this sensor is semi-processed data sent to a central processor that uses ADAS decision-making algorithms based on sensor fusion. This makes use of 360-degree sensor coverage to provide higher levels of vehicle protection.
Also, it’s worth mentioning that the AWR2544 single-chip radar sensor happens to be the industry’s first with launch-on-package (LOP) technology. LOP technology accomplishes this by mounting a 3D waveguide antenna on the opposite side of the printed circuit board, reducing its size by up to 30%. LOP technology also allows for ranges above 200m with just one chip. In satellite architectures, features like these enable automakers to enhance ADAS intelligence toward greater vehicle autonomy levels so that they can think better across greater distances. The latest addition is an AWR244 radar sensing platform from Texas Instruments that supports a wide variety of ADAS applications and architectures, including corner, front, imaging, side and rear radar systems.
ZF Friedrichshafen AG (Germany): January 2024: ZF announced the launch of its new 77 GHz radar sensor, enhancing vehicle detection capabilities and ZF showcased its advanced radar technology at the Automotive Tech Week, focusing on improved safety features for autonomous vehicles.
FUJITSU TEN Ltd. (Japan): June 2024: FUJITSU TEN announced collaborations with tech startups to develop AI-driven radar systems for next-gen vehicles.
Automotive Radar Sensors Market, By Segmentation
On the basis of region, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World. North America is expected to account for the largest market share during the forecast period. The development of increased safety feature systems in the vehicles is expected to increase the demand for radar sensors. The increase in demand for radar sensors is expected to drive the market in this region. Europe is expected to be the second largest market due to increase production of passenger and commercial vehicles.
The report for Global Automotive Radar Sensors Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
