Global Automotive Radar Sensors Market 2023-2030

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    Number of Pages- 125   Published- Nov 2020  

    AUTOMOTIVE RADAR SENSORS MARKET

     

    INTRODUCTION

    ADAS radars provide range velocity and in some cases angle measurements for object detection. The spectrum for automotive radar applications is the 24- GHz band and 77-GHz band( 76 GHz -81 GHz).

     

    The 24Ghz will  be phased out by 2022, therefore most of the new radar development is focussed on 77Ghz range. The 77-GHz band radar is expected to provide both short- (0- 30 m) and long-range detection for all future ADAS applications.

     

    Many OEMs have already started transitioning to the 77Ghz radars and the complete transition should be over by 2021 end.

     

    AUTOMOTIVE RADAR SENSORS MARKET SEGMENTATION

     

    By Radar Range

    1. Short range
    2. Medium range
    3. Long range

     

    Market volume and value By OEM

    1. GM
    2. Ford
    3. European Luxury car OEMs(Audi, BMW, Mercedes, Volvo, JLR)
    4. FCA
    5. Toyota
    6. Nissan
    7. Honda
    8. VW Group
    9. Tesla
    10. PSA Group
    11. Chinese OEMs(WM Motors, NIO, Byton, Geely)

     

    By Geography

    1. US
    2. Europe
    3. China
    4. Japan
    5. India
    6. Canada
    7. South Korea
    8. ASEAN
    9. Latin America
    10. ROW

     

    AUTOMOTIVE RADAR SENSORS MARKET DYNAMICS

    The L1/L2 automated (ADAS) vehicles at present have 3-5 radars per vehicle depending on the vehicle trim/optional ADAS package.

     

    An L3 automated vehicle will need minimum 5 radars (4 mid-range radars and 1 long range radar), whereas an L4/L5 automated vehicle will require 10-12 radars.

     

    And, radars used in L4 automated vehicles will have multiple radar transceivers connected inside a single radar sensor, pushing the average price of radars. Therefore, the growth of autonomous/semi-autonomous vehicles will be a major driver to the Automotive Radar Sensors market.

     

    In terms of ADAS adoption, the UN`s draft rule to mandate Autonomous Emergency braking on all new European and Japanese cars and LCVs from 2021 will be a major growth driver for the long range radar segment. South Korea, Russia could also follow this policy but there is still uncertainty on US, India and China markets.

     

    Denso has partnered with Metawave to enhance the development of smart radar systems to be incorporated in autonomous cars. The company DEnso has also invested in Metawave a total worth of $17 million.

     

    Netherlands based NXP Semiconductors, a giant in the semiconductor manufacturing sector, has announced a strategic collaboration with the company Hawkeye, experts in the 77GHz radar technology systems to develop and enhance the growth of the radar market in the Chinese automotive market.

     

    In April 2021, Marelli signed an agreement with Wuhu SensorTech Intelligent Technology, based in China to focus on the development of radar sensors for ADAS systems and autonomous driving applications. The agreement will contribute to the development of radars using 77 and 79 GHz applications for 4D radar which will be integrated by Marelli.

     

    Infineon technologies AG announced the expansion of its manufacturing unit in Linz, Austria which produces 77GHz radar chips for automotive applications.

     

    Hella has announced a strategic partnership with Oculii, a startup based in the US. The agreement is signed to develop high-performance scalable radar systems for semi as well as full autonomous vehicles.

     

    The company Oculii has also raised funding worth $55 million in its latest funding round, reported the company in May 2021. The investment funding will boost the development of resolution of radars which is the primary reason for the limiting usage of radar sensors in the autonomous vehicles market.

     

    In February 2020, Continental sanctioned the construction of a new unit in New Braunfels, Texas. The primary motive of the new unit is to extend the capacity for the production of ADAS systems with radar sensors and cameras. The company also launched a new system solution for safer automated driving. 

     

    In the starting of the year 2020,  Aptiv PLC announced a joint venture with Hyundai Motor Co. based in South Korea to develop autonomous cars which will enhance the commercialisation of level 4 and 5 self-drive technologies.

     

    The company Magna has opened a new manufacturing unit in Flint, Michigan worth $50 million to incorporate the increased demand of automotive components such as radar systems, cameras and more.

     

    NUMBER OF ADAS RADAR(S) PER  TECHNOLOGY

    Sl no ADAS Required number of radar(s) per Vehicle
    1 Blind spot Detection/Monitoring 2
    2 Adaptive cruise control 1
    3 Forward Collision Warning/Collision Mitigation 1
    4 Lane change assist 2
    5 Autonomous Emergency Braking 1
    6 Rear Cross Traffic Alert 2
    7 Pedestrian detection 1

     

    AUTOMOTIVE RADAR SENSORS MARKET SIZE AND FORECAST

     

    infographic: Automotive Radar Sensors Market, Automotive Radar Sensors Market Size, Automotive Radar Sensors Market Trends, Automotive Radar Sensors Market Forecast, Automotive Radar Sensors Market Risks, Automotive Radar Sensors Market Report, Automotive Radar Sensors Market Share

     

    The Global Automotive Radar Sensors Market size is estimated at XXM units and $YYB, growing at –% CAGR till 2030.

     

    The market for automotive radar systems based on ADAS applications are estimated to grow at an increasing pace as the market for blind spot detection systems has the largest share in the sector in terms of demand volume. Some of the countries across the globe have mandated the use of safety features and ADAS systems in vehicles which directly enhance the growth of the radar market. 

     

    The European government has mandated the incorporation of Advanced Emergency Braking Systems (AEBS) as well as Electronic Stability Control systems (ESC) to be installed in vehicles manufactured by OEMs.

     

    The car models which will have these safety systems along with ADAS features such as FCW and ACC will receive higher safety ratings. The European Commission has also initiated the development of 79GHz vehicular radars, which is set to be the foundation for future developments in the industry.

     

    The European region is the prominent shareholder of revenue in the automotive radar sector and is expected to grow at a positive rate in the future. The increased growth rate is due to the presence of the most dominant german automakers in the region which hold a major share in the automotive radar sensors market for premium vehicles.

     

    RECENT DEVELOPMENTS IN AUTOMOTIVE RADAR SENSORS MARKET

    • August 2021, the Piaggio Group’s subsidiary Piaggio Fast Forward (PFF) developed a new safety technology to be incorporated in motorcycles. They have sanctioned an Israel based company Vayyar Imaging to develop Radar-on-chip which is the industry’s first 4D imaging radar based safety platform for motorcycles.
    • In June 2021, NXP Semiconductors along with TSMC announced the launch of the company’s S32G2 vehicle network processors as well as S32R294 radar processor to be produced in volume for TSMC’s advanced 16 nanometer FinFET process technology.
    • In April 2021, Continental AG announced the launch of its new suite of hardware and software solutions. It will also include the launch of the company’s sixth generation radar sensors to make autonomous mobility more safe. The production of these sensors will start in the year 2023, they are specially designed for 360 degree environmental detection and long range of 200 meters.
    • In January 2021, NXP semiconductors announced the development of BlueBox 3.0 which is a new and expanded version of the company’s flagship safe automotive high-performance capsule (AHPC). It offers a safety level of 2+ for autonomous vehicles integrating radar vision and LiDAR technologies.
    • In January 2021, NXP semiconductors launched a suite of new radar sensor solutions which work by surrounding the vehicles in a 360 degree protection range and help enhance the imaging capabilities of the radar system.
    • In March 2020, which develops advanced lighting and electronic components announced the production for its latest radar technology operating at 77GHz.
    • In March 2020, Veoneer was sanctioned to develop active safety systems which will be based on the next-generation radar and vision systems. They have developed a scalable system which meets with the Euro NCAP-5 star safety rating, it provides features such as highway assist, emergency braking, automated high beam control as well as cruise control.

     

    AUTOMOTIVE RADAR SENSORS MARKET RECENT TRENDS

    Since the introduction of Automotive Radar (ADAS) in the automotive space, the technology has become increasingly popular as more and more cars are being made with integrated systems.

     

    The major trends in automotive radar(ADAS) systems over the past few years include an increase in the use of radar sensors in the automotive industry for a wide variety of applications.

     

    The development and integration of AI and Deep Learning algorithms into automotive radars is one of the most important advancements in current Automotive Radar Sensors market. This integration allows radars to interpret the data collected by the sensors more accurately, resulting in faster reaction times and improved detection accuracy.

     

    Furthermore, AI algorithms can be used to detect road hazards from a much greater distance, allowing autonomous vehicles to react more effectively in the event of an emergency. 

     

    In addition to the use of AI and Deep Learning, another trend in the automotive radar sensors market is the development and integration of millimeter wave (mmWave) radars.

     

    These solutions have the ability to detect objects with much greater accuracy than traditional microwave radars. This technology is becoming increasingly popular due to advancements in hardware that make the use of mmWave radars more feasible.

     

    Lastly, an emerging trend in the automotive radar space is the emergence of Higher-Resolution Radar (HRR). This technology is capable of detecting objects with greater resolution, allowing for more accurate detection and reaction times. This technology is also becoming increasingly popular due to its ability to detect objects in multiple directions, and with even greater accuracy over traditional radar systems.

     

    These trends point to the increasing use of automotive radars in the automotive industry, and the benefits they bring to the safety and reliability of vehicles. 

     

    RECENT PARTNERSHIPS IN SOUTH KOREA AUTOMOTIVE RADAR SENSORS MARKET

    In order to meet the requirements of the biggest OEMs in Korea and greatly improve road safety, Uhnder, a leading provider of digital imaging radar technology, and bitsensing, a South Korean developer of cutting-edge radar solutions, have established a strategic alliance.

     

    The technology will make it possible to use cutting-edge safety features like automatic emergency braking, adaptive cruise control, and lane departure warning while also improving object identification and tracking abilities in a range of driving environments like torrential downpours, snowfall, dense fog, and direct sunlight. Additionally, it may offer the greatest low-level fusion of radar and camera, improving the dependability of its performance under a variety of circumstances.

     

    Collaborating with Uhnder to develop digital automotive radar products that satisfy passenger car requirements for the safest and most advanced driver assistance systems, lowering traffic fatalities by eliminating human error and preventing accidents.

     

    Compared to conventional analogue radar systems, digital imaging radar has a number of advantages, such as better object detection, higher resolution, and the capacity to record 4D data, which includes azimuth, elevation, range, and Doppler information.

     

    At Uhnder, a group of gifted engineers with years of experience in the automotive industry is essential to the construction of a ground-breaking radar. bitsensing has all the competence in radar solutions that automotive clients need.

     

    Bitsensing is well-positioned to develop a 4D imaging radar system that offers higher performance and reliability because to its experience, knowledge of the automotive industry, and customer base.

     

    COMPETITIVE LANDSCAPE

    NXP is the undisputed present market leader in the Automotive Radar Sensors market but in coming years, its leadership is likely to be challenged by other suppliers.

     

    Over the past couple of years, leading ADAS radar suppliers (Magna, Continental, NXP) have focussed on creating high resolution radars.

     

    Additionally, many tier-1 ADAS suppliers are working on imaging radar technology, which could become a potential substitute to Lidar at a much lower cost. The patent pending 4D imaging radar developed by Israel based startup, Arbe Robotics is a prominent example.

     

    The Automotive Radar Sensors market vendors have grown by making partnerships and acquisitions (Autoliv alone has made 12 acquisitions so far). As suppliers try to outdo each other in supplying to more vehicle platforms, we expect the trend of partnerships and acquisitions to continue in coming years as well.

     

    NXP semiconductors released their financial statements for the second quarter of the year 2021, the company reported a total revenue of $2.6 billion which was a significant increase from the results for the same quarter for the 2020 at $1.8 billion.

     

    The total revenue increased by 42.9% on a year-on-year basis. The automotive components recorded for the total revenue of $1.2 billion out of the total revenue generated by the company for Q2 of 2021.

     

    As of July 2021, Veoneer Inc. announced a merger agreement with Magna International Inc. Under the agreement Magna International will acquire Veoneer for a value worth $31.25 per share to a total value of $3.8 billion. This will extend Magna’s ADAS business by providing access to new customers and areas including Asia.

     

    Veoneer performed well in the second quarter of 2021, with a net sales of $398 million for the three months ending in June 30, which was a whopping 116% increase as compared to the same quarter the company experienced in 2020 during the pandemic.

     

    The sales for the year 2020 saw a decline of 28% from $ 1.9B to $ 1.37B. The active safety segment witnessed a minimum drop in sales compared to other segments as it dropped by 12% from $ 708M to $ 624M.

     

    In the year 2020, DENSO Corporation announced the investment of $100.9 million to expand the capacity of the company’s manufacturing unit in Hokkaido, the construction has begun during the second half of the year 2020 and is estimated to be complete by the end of 2025.

     

    The production in the new unit will be increased steadily starting from October 2021. The primary aim of this development is to meet the riding demand for semiconductor radars as well as other automotive electronic components.

     

    Automotive component manufacturer Autoliv, released its financial statement for the second quarter of the year 2021. The company recorded a net sales worth $2,022 million with approximately 85% organic sales growth in comparison to the second quarter results of the year 2020 that were $1,048 million. All the regions of the company recovered after the pandemic with 52% in the second quarter of this year except China.

     

    Continental has reported consolidated sales worth $12.2 billion for the first quarter of 2021 which was an increase in the sales by 3.5% from the previous year 2020 which reported a sales of $11.7 billion. The company reported an increased net income of $530 million for the Q1 of 2021 from $345 million for Q1 of the year 2020.

     

    ZF which is based in Germany reported the first-half sales report for the year 2021, the sales indicated positive sales revenue and earnings.

     

    They have reported a sales of $22.8 billion for the first half of the year 2021, the sales have increased significantly after the company recovered from the economic disparity due to the COVID=19 pandemic under which they reported sales worth $16 billion for the same term 2020. The positive development in business is in contrast with the difficult and volatile international market globally.

     

    Magna International reported the financial results for the first quarter of 2021 where the total sales increased by 18% to a worth $10.2 billion which was increment from the previous year 2020 which reported total sales of $8.7 billion in the first quarter.

     

    The increase is dependent primarily on the growth of the automotive sector and increase in sales of vehicles with advancement towards e-mobility which incorporates ADAS systems and radar technology.

     

    COMPANY PROFILES

    Here are some major players in Automotive Radar Sensors market

    1. Denso Corporation
    2. Continental AG
    3. Hyundai Mobis Co, Ltd
    4. Bosch Mobility Solutions
    5. Aptiv Plc
    6. Veoneer(Autoliv)
    7. Texas Instruments, Inc
    8. ZF Friedrichshafen AG
    9. NXP Semiconductors N.V.
    10. ST Microelectronics
    11. InnoSenT GmbH
    12. Hella KGaA Hueck & Co.
    13. Smart Microwave sensors GmbH
    14. Analog Devices, Inc
    15. Valeo
    16. Magna International
    17. Cohda Wireless Radar Pty Ltd
    18. Arbe Robotics
    19. Uhnder

     

    THIS REPORT WILL ANSWER THE FOLLOWING QUESTIONS
    1. Automotive Radar Sensors Installation by radar type, by region, 2023-2030
    2. Global Automotive Radar Sensors market size and forecast, by segment
    3. Growth of Automotive Radar Sensors in China, market volume and value by OEM
    4. OE-supplier alignment in Automotive Radar Sensors market
    5. Which supplier has an edge in new product development and who will be the Automotive Radar Sensors market leader in 2030?
    6. How will the competitive landscape of Automotive Radar Sensors market emerge in next 5 years
    7. Impact of upcoming L3 autonomous vehicles on Automotive Radar Sensors market

     

    1 Market Segmentation
    2 Executive Summary
    3 Introduction
    4 Insights from Industry stakeholders
    5 Breakdown of new concept vehicles by ADAS
    6 Disruptive innovations in ADAS radar, growth in multi-chip radar solution
    7 Cost breakdown of ADAS radar by sub-components and average profit margin
    8 Top 10 vehicle platforms with ADAS radar, By region
    9 Suppliers order intake in ADAS radar market
    10 Market Size ,Dynamics and Forecast By OEM
    11 Market Size ,Dynamics and Forecast By Geography
    12 Market Size ,Dynamics and Forecast By radar  type
    13 Competitive Landscape, Earnings comparison of supplier and market share
    14 About new companies/startups  in ADAS radar market
    15 OEM-supplier relationship in ADAS radar market
    16 Company Profiles
    17 Mergers and acquisitions in past 5 years
    18 Unmet needs and Market Opportunity for suppliers
    19 Conclusion
    20 Appendix
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