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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.
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.
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