Industry Insights
The India automotive radar market size was valued at USD 37.3 million in 2016. Growing number of accidents, rising need for vehicle safety, and increasing sales of premium cars are the key factors driving growth. Growing popularity of advanced driver assistance systems in India is expected to propel the market over the forecast period.
India Automotive radar market revenue, by application, 2014 - 2025 (USD Million)
Electrification of vehicles is transforming conventional vehicles into a much safer mobility option. Rising number of accidents and soaring need for safer mode of transport are triggering the demand for vehicle safety systems. These safety systems use radar sensors for detection of any object present around the vehicle. For instance, in case of adaptive cruise control systems, radar sensors are installed at front-end of the vehicle, so that it can detect any object in front of the vehicle and can automatically adjust the speed of the vehicle. Thus, it facilitates maintenance of a safe driving distance.
Owing to decline in radar prices, it has become possible for manufacturers to incorporate safety systems in mid-priced vehicles. Thus, the market in India is anticipated to gain momentum over the coming years and is estimated to witness rise in demand, especially from mid-priced passenger cars. Furthermore, active government initiatives for increasing vehicle safety are poised to boost market growth.
According to the World Health Organization, more than 1 million individuals die each year as a result of road traffic crashes and approximately 20 to 50 million people suffer injuries. This is escalating the need for prevention of accidents through implementation of active safety measures. Active safety features in a vehicle refer to systems or hardware that help avoid collisions and accidents.
Burgeoning sales of ultra-luxury & passenger cars coupled with growing awareness regarding car safety are one of the key growth stimulants for the market. Furthermore, rising concerns pertaining to passenger safety and comfort and convenience of driver are likely to stimulate the growth of the industry over the forecast period. Increasing affluence of the populace is playing a critical role in augmenting sales of luxury cars, which in turn is projected to stoke the growth of the market.
Segmentation by Range
• Long Range
• Medium & Short Range
In 2017, the long range segment accounted for more than 40.0% of overall market and it is expected to grow on account of technical advantages such as higher frequency with a smaller antenna. A radar with an operating range of up to 250m would be considered as long range. Adaptive cruise control (ACC), blind spot detection, collision avoidance systems, and automated emergency braking systems technologies are anticipated to contribute to the India automotive radar industry during the projected period.
Segmentation by Vehicle Type
• Passenger Cars
• Commercial Vehicles
The passenger car segment is estimated to register the fastest CAGR over the forecast period owing to increasing population and widening pool of personal vehicle owners. Improving standard of living in developed as well as developing nations is leading to an increase in sales of luxury cars and sports utility vehicles (SUV), which is supplementing the growth of the overall market. Additionally, rising awareness regarding safety in cars is benefitting the growth of the passenger cars segment.
Segmentation by Application
• Adaptive Cruise Control
• Autonomous Emergency Braking
• Blind Spot Detection
• Forward Collision Warning
• Intelligent Park Assist
• Other ADAS systems
The autonomous emergency braking (AEB) segment is poised to be the fastest growing segment in India. Growing awareness regarding vehicle safety as well as consistent government initiatives for improving vehicle safety are bolstering the adoption of advanced driver-assistance systems (ADAS). As radar is one of the crucial components of ADAS, the market is likely to experience a significant rise in demand over the forecast period.
The automotive industry is witnessing a series of developments such as connected vehicles technology, increased automation, and shared mobility. Rising focus on semi-autonomous and fully autonomous vehicles is encouraging the growth of the market. Additionally, as the automotive industry is striving to achieve zero vehicle-related accidents, incorporation of safety systems in mid-priced vehicles is increasing rapidly.
Competitive Landscape
Some of the key players in the India automotive radar market are HELLA KGaA Hueck & Co.; Texas Instruments Incorporated (TI); Denso Corporation; Robert Bosch GmbH; Continental AG; Valeo; Infineon Technologies AG; NXP Semiconductors; Autoliv Inc.; and ZF Friedrichshafen AG. Prominent players operating in this industry are primarily focusing on developing high-performance compact products. Companies are also increasing their R&D spending in order to develop innovative solutions and gain strategic advantages over competitors. Apart from new product developments and partnerships, dominant market players have adopted mergers & acquisitions as their key strategy to gain traction in the market.
