Automotive Radar Market Size , Share , Trends , Analysis and Forecasts To 2022
Global Automotive Radar market is accounted for $ 1.2 billion in 2015 and is expected to reach $ 3.9 billion by 2022 growing at a CAGR of 18.7 % from 2015 to 2022 . The factors such as increasing advancements in design and functionality of products , growing use of parking and collision sensors and increasing the demand for self driving automotives are the factors favoring the automotive radar market growth . However , high cost of mechanical and optical parts with MEMS micro mirror is the major factor hampering the market growth .
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In Automotive Radar technology , Millimeter-wave radar segment is expected to witness high growth rate due to its developing features . Asia Pacific automotive radar market share is estimated to witness substantial gains , due to its strong outlook in the application industries . Increasing requirements can be accredited to low manufacturing costs which are accompanied by surging automotive sales across the region .
Some of the key players in this market include are OmniVision Technologies Inc ., Shenzhen Viracle Electronics Co . Ltd , Analog Devices Inc ., TRW ( ZF ) , Hella Kgaa Hueck & Co ., Fujitsu Ten , Continental Automotive , Bosch , Texas Instruments Inc ., Freescale Semiconductor Inc ., OmniVision Technologies Inc ., Delphi Inc ., Autoliv , Valeo and Denso Corp .
Application Covered Parking assistance Forward collision warning system Adaptive cruise control Lane departure warning system Blind spot detection
Frequency Covered 24GHz chips NarrowBand ( NB ) Ultra-WideBand ( UWB ) 77GHz chips
Technology Covered Camera