According to the new market research report "Automotive RADAR Market by Range Type (Long Range RADAR and Short & Medium Range RADAR), Application (ACC, AEB, FCWS, BSD, and Intelligent Parking Assistance), Frequency (2X-GHz and 7X-GHz), Vehicle Type, and Region - Global Forecast to 2021", published by MarketsandMarkets™, The automotive RADAR market size is projected to grow at the CAGR of 23.81% during the forecast period, to reach the USD 6.61 billion by 2021. Rising concerns pertaining to vehicle, driver, passenger and, pedestrian safety along with increased involvement of players across the ecosystem have fueled the growth of the automotive RADAR market globally. The growing trend of autonomous vehicles is also a major factor that has contributed to the growth of this market.

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Blind spot detection market is estimated to account for the largest share in Automotive RADAR Market

The blind spot detection market is estimated to account for the largest share, in terms of volume, of the automotive RADAR based ADAS applications, and is projected to grow at a good rate. For instance the European parliament has mandated the use of Electronic Stability Control (ESC) and Advanced Emergency Braking System (AEBS) since November 2015. The system is expected to be equipped in all new commercial vehicles above 3.5 tons. As per the latest Euro NCAP rating, the models which are having AEB along with other ADAS features such as ACC and FCW, will get better safety ratings. This regulatory move is further expected to drive the RADAR based ADAS market.

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Adaptive cruise control system is estimated to have the highest growth potential which will further boost the demand for automotive RADAR market. This growth can be attributed to the proven benefits of the system in vehicle safety, increased autonomous level etc. National Transport Safety Board, U.S. has included adaptive cruise control in its ten most wanted safety improvements in 2013. Under Euro NCAP rating system also, these advance systems will help to get better rating if it is incorporated in the vehicle.

The 7X-GHz RADAR sensor in the segment- by frequency band, is estimated to lead the automotive RADAR market during the forecast period. The high demand for the 7X-GHz RADAR sensor can be attributed to advantages offered by these sensors in various ADAS applications. 7X-GHz RADAR sensors are used in adaptive cruise control, emergency braking system and collision avoidance system among others. The market for these technologies is on the rise due its better resolution and range capability.

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Europe region is estimated to be the largest market for automotive RADARs during the review period due the presence of Germany, early adopter of various advance technologies in the world. Furthermore, technology adoption rate is also high in other countries from this region such as U.K., Belgium, Netherland, etc. The region has some of the most stringent vehicle safety regulations which boost the market for advanced driver assistance technologies.

Key players in the market include Robert Bosch GmbH (Germany), HELLA KGaA (Germany), Continental AG (Germany), Denso Corporation (Japan), Delphi Automotive PLC (U.K.), Autoliv Inc. (Sweden), and Valeo S.A. (France) are the system manufacturers and companies such as Infineon Technologies AG (Germany), NXP Semiconductors N.V. (The Netherlands) are the chip manufacturers in the automotive RADAR market. These players are increasingly undertaking mergers and acquisitions, and product launches to develop and introduce new technologies and products in the market.