The Automotive radars play an effective role in detecting objects in several safety systems involving adaptive cruise control, unimaginative detection system, unsighted spot detection, and automated alternative braking. While, the increasing aim on active protection features, modernizations in the radar technology, deducting costs of components, and growing sales of vehicles are the fueling aspects for the market growth. Moreover, in order to attain widespread vehicle autonomy, it is indispensable for the automakers to aim on the improvement of the radar technology and consequently on the deduction in the structure of the radar systems. One of the foremost steeplechases hindering the growth of the automotive radars is the shortage of uniform frequency distribution around the region.
For instance, the effective usage of the higher frequency band is likely to lead to sophisticated resolution benefits and increase the usage of a single technology for all applications, thereby decreasing the perils of mutual intervention. According to the report analysis, ‘Asia Pacific Market Insights on Automotive Radar: Insights and Forecast, 2018-2024: Emphasis on Radar Range (Short Range Radar & Mid-Range Radar (S&MRR), Long Range Radar (LRR)), Applications(Adaptive Cruise Control, Autonomous Emergency Braking, Intelligent Parking Systems, Blind Spot Detection, Collision Mitigation System, Others)’ states that in the Asia Pacific market Insights on Automotive radar there are numerous key players which recently functioning more significantly for leading the fastest market growth and dominating the high value of market share over the forecasted period while increase the automotive production and sales, increasing the penetration of premium and luxury vehicles and studying the government regulations for the vehicle and road protection includes Continental AG, Robert Bosch GmbH, Denso Corporation, Delphi Automotive Plc, Infineon Technologies AG, NXP Semiconductors NV, Valeo SA, Analog Devices Inc, Hella KGaA Hueck and Co, Texas Instruments Inc. and several others.
In terms of revenue, the Asia Pacific region is a developing market for automotive radar segment, which is principally backed by the low-cost economy sourcing and high-level of industrialization in the economy. In addition, Asia Pacific region is among the foremost car manufacturing hub in the globe and is home to some of the conspicuous car manufacturers such as Nissan, Hyundai, Honda, and Toyota, among others. Whereas, based on the application, among the application areas, adaptive cruise control is estimated to be the largest market during the review period. Not only has this, the market value of autonomous emergency braking application is predicted to be the fastest increasing during the review period.
Segmentation by frequency band, owing to the effective augment in requirement of 2X GHz radars in Asia Pacific, this sector controlled the highest market share in 2017. However by 2021, the market value of 7X GHz radars is estimated to outstrip the market of 2X GHz radar and is predicted to continue dominant by 2024. Sideways, in 2017, China registered the Asian market, the foremost aspects attributed to this was the existence of huge automotive industry, availability of the numerous radar suppliers and increase in the economic conditions of the consumers, among others. Therefore, in the coming years, it is estimated that the Asia Pacific Market Insights on Automotive radar will increase more significantly over the coming years.
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Ankur Gupta, Head Marketing & Communications