The APAC Automotive RADAR Market size is estimated to reach a valuation of US$ 4,261.8 million by 2027 and is predicted to register a CAGR of 15.10% from 2022 to 2027.
RADAR (Radio Detection and Ranging) is an electronic device used to track objects. Automotive RADAR is a system used to detect objects within an angle through propagation to determine the diffusion area, angle, and speed. Initially developed for military and defense use, but due to continuous technological innovation, it is used in automobiles. Automotive radar devices are installed in passenger cars in the form of radar sensors to provide information such as range, angle, and Doppler speed, which helps the driver avoid collisions.
Market Drivers:
The APAC automotive RADAR market is also an emerging business for the automotive sector, backed mainly by low-supply and high-level industrialization in the region. The main factor in the introduction of radar technology to vehicles in Asian countries such as India, China, and Thailand is growing accidents with an increasing demand for safer vehicle mobility and initiatives to build strict regulations and innovative radar systems by the government. It is also expected that the growing trend of autonomous cars and the increasing electrification of vehicles will accelerate the growth of car radar in the region.
The increase in vehicle sales in Asian countries will provide ample growth opportunities for suppliers operating in the industry to increase their share of sales. The other main factors that drive the market growth are the development of sensors and the increase in smartphones and the development of consumer electronics, the strong demand in the automotive industry, and the growing adoption of FMCW radar sensors in other applications.
Market Restraints:
Counterfeiting in India and China, as well as high imports and taxes imposed by governments in many countries, is a significant challenge for the region. Also, it is known that high-frequency security systems that use 77 GHz provide better performance. However, these systems also have higher signal losses, making it challenging to implement high-frequency radar-based security systems today. Therefore, it serves to curb the growth of the car radar market in APAC.
Market Recent Developments:
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REPORT METRIC |
DETAILS |
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Market Size Available |
2021 – 2027 |
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Base Year |
2021 |
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Forecast Period |
2022 - 2027 |
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CAGR |
15.10% |
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Segments Covered |
By Range, Vehicle Type, Application, and Region. |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
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Market Segmentation
where medium and short-range radars are expected to witness faster growth in the APAC automotive radar market during the forecast period. This is mainly due to the high use of these radars in active safety systems, such as parking assistance, lane change assistance, and blind spot detection.
Passenger car categories represented high participation in the APAC automotive radar market, with the growing involvement of these vehicles in overall car sales in developing countries, including China, mainly due to the increasing concern for safety in cars.
The Adaptive Cruise Control (ACC) category is expected to occupy most of the APAC automotive radar market during the forecast period. The vast development of the ACC application category now allows integration into both luxury cars and medium cars.
Market Regional Analysis:
Geographically, the APAC Market is divided into
The local market is predicted to show the most significant growth during the forecast period, as the area is moving forward with a global focus of great investment opportunities and commercial expansion. In 2019, China dominated the APAC market, which can be attributed to the vast automotive industry, the presence of multiple radar suppliers and the increase in consumer economic conditions.
Market Key Players:
The APAC Automotive RADAR Market consists of several players, such as
Market Research Methodology:
The research done takes place in two phases namely-
Secondary Research:
The first phase of the research process is extensive secondary research and identification of the related intelligence. Secondary data is compiled from various sources. Extensive secondary research helps in generating hypotheses and identifying critical areas of interest that are investigated through primary research.
Primary Research:
This entails conducting hundreds of primary interviews with industry participants and commentators in order to validate the data points obtained from secondary research and to fill the data gaps. A primary interview provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook, etc. It also helps in deciding the scope and deliverables of the study in terms of the requirement of the market. Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment, and sub-segment across geographies.
Market Report Highlights
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