Asia Pacific Automotive Radar Industry
New Study Reports “Automotive Radar Market 2020 Asia Pacific Market Opportunities, Challenges, Strategies and Forecasts 2026” has been Added on WiseGuyReports.
Asia Pacific is the largest car manufacturing hub in the world and is home to some of the prominent car manufacturers such as Nissan, Hyundai, Honda, Kia, and Toyota, among others. The Asian market is also an emerging market for automotive sector, which is primarily backed by the low-cost country sourcing and high-level of industrialization in the region. Rising number of accidents paired with increasing demand for safer vehicle mobility and strict government regulations and initiatives for creating innovative radar systems are the major factors driving the deployment of radar technology in vehicles in the Asian countries such as India, China and Thailand, among others. Additionally, growing trend of autonomous vehicles and rising vehicle electrification is expected to foster the growth of automotive radar in the region. The increased sales of vehicles in Asian countries would further provide wider range of growth opportunity for the vendors operating in the industry to increase their revenue share. However, counterfeiting in India and China and high import and taxes charged by government in several countries are posing as the major challenges in the region.
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Insights Presented in the Report:
Asian Automotive radar market is segmented based on the range of the radars. It includes short and midrange radar (S&MRR) and long range radar (LRR). In 2017, S&MRR segment dominated over LRR however LRR is anticipated to be the fastest growing market with a CAGR of 25.9% during the forecast period (2018-2024).
Based on different application areas, the market is categorized as Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Intelligent Parking System (IPS), Blind Spot Detection (BSD), Collision Mitigation System (CMS) and others. Among these application areas, adaptive cruise control is expected to be the largest market during the forecast period. On the other hand, the market value of autonomous emergency braking application is anticipated to be the fastest growing during the forecast period.
The study further includes the segmentation across different frequency bands such as 24 GHz and 77 GHz. Due to the increase in demand for 24 GHz radars in Asia Pacific, this segment held the highest market share in 2017. However by 2021, the market value of 77 GHz radars is anticipated to exceed the market of 24 GHz radar and is anticipated to remain dominant by 2024.
Asian automotive radar market is also fragmented across different vehicle types that include passenger cars, luxury cars and commercial vehicles. In 2017, passenger vehicles segment dominated the market with a market value of $537.27 million. Adding to this, the increase in demand of radar systems in the luxury vehicles segment is expected to propel the luxury vehicles segment making it the fastest growing market during the forecast period.
For an in-depth understanding of the Asian automotive radar market, it is further segmented across different countries that are China, Japan, India, Singapore, South Korea, Australia and rest of Asia Pacific. In 2017, China dominated Asian market, the major factors attributed for this were huge automotive industry, presence of several radar suppliers and rise in economic conditions of the consumers, among others.
Top Companies Profiled:
Some of the major players profiled in the report include 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, and Texas Instruments Inc.
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WISEGUY RESEARCH CONSULTANTS PVT LTD
Wise Guy Reports is part of the Wise Guy Research Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe.
Wise Guy Reports understand how essential statistical surveying information is for your organization or association. Therefore, we have associated with the top publishers and research firms all specialized in specific domains, ensuring you will receive the most reliable and up to date research data available. We also provide COTS (Commercial off the Shelf) business sector reports as custom exploration agreeing your particular needs.