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Latin America is witnessing a positive curve in the number of new vehicle registration during the past few years. The growing middle class economy, increasing number of thefts and accidents on the road has further increased the demand of highly advanced safety features in the vehicles. Owing to which an increase in the demand of radar detectors vehicles is registered in the region. In addition to this the commencement of several auto programs are also expected to fuel the market growth. On the other hand, the high taxation rates and high production cost within the region are attributed as the factors hampering the market growth in the region.
LATAM Automotive radar market is segmented based on the range of the radars that includes short and medium range radar (S&MRR) and long range radar (LRR). The short-range radar (SRR) system primarily operates at the 24 GHz frequency band and requires a large bandwidth ranging from 3-5 GHz. The Long-range radar (LRR) operates at 77-81 GHz frequency band and showcase the promising future in automotive radar market. In 2017, S&MRR segment dominated over LRR and was valued at $61.26 million however LRR is anticipated to be the fastest growing market with a CAGR of 32.8% during the forecast period (2018-2024).
Based on different application areas, the market is categorized as Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Intelligent Parking System (IPS), Blind Spot Detection (BSD), Collision Mitigation System (CMS) and others. Among these application areas, adaptive cruise control is expected to be the largest market during the forecast period. On the other hand, the market value of autonomous emergency braking application is anticipated to be the fastest growing during the forecast period. Adaptive Cruise control is a luxury feature that allows vehicles cruise control system to adapt the vehicles speed to the traffic environment. The system can increase or decrease the car’s speed to maintain a safer distance
The study further includes the segmentation across different frequency bands that include 24 GHz and 77 GHz. The 24 GHz is a frequency band which is used in automotive radar. It is a vital component of Short range radar which is primarily being used for basic smart driving features such as blind spot detection and collision avoidance system. During 2014 to 2020, 22 GHz segment dominated the market. However from 2021, the market value of 77 GHz radars is anticipated to exceed the market of 24 GHz radar and reach $303.69 million by 2024.
LA automotive radar market is also fragmented across different vehicle types that include passenger vehicles, luxury vehicles and commercial vehicles. In 2017, passenger vehicles segment dominated the market and was valued at $61.21 million and is projected to reach $XX million by the end of forecast period. Adding to this, the increase in demand of radar systems in the luxury vehicles segment is expected to propel the luxury vehicles segment making it the fastest growing market during the forecast period.
For an in-depth understanding of the LA automotive radar market, the market is further segmented across different countries that are Brazil, Argentina, Chile and Rest of LA. In 2017, Brazil dominated Latin America automotive radar market in 2017 and is expected to remain dominant during the forecast period.
Some of the major players profiled in the report include Continental AG, Robert Bosch GmbH, Denso Corporation, Aptiv Plc, Infineon Technologies Inc., NXP Semiconductors NV, Valeo SA, Analog Devices Inc., Hella KGaA Hueck & Co and Texas Instruments Inc. These players are entering into several competitive strategies (partnerships, merger-acquisitions, joint venture, new product launch, business expansion and others) with each other or other supplier or automotive OEMs to strengthen their position in the market.
LATAM Automotive radar market is segmented based on the range of the radars that includes short and medium range radar (S&MRR) and long range radar (LRR). The short-range radar (SRR) system primarily operates at the 24 GHz frequency band and requires a large bandwidth ranging from 3-5 GHz. The Long-range radar (LRR) operates at 77-81 GHz frequency band and showcase the promising future in automotive radar market. In 2017, S&MRR segment dominated over LRR and was valued at $61.26 million however LRR is anticipated to be the fastest growing market with a CAGR of 32.8% during the forecast period (2018-2024).
Based on different application areas, the market is categorized as Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Intelligent Parking System (IPS), Blind Spot Detection (BSD), Collision Mitigation System (CMS) and others. Among these application areas, adaptive cruise control is expected to be the largest market during the forecast period. On the other hand, the market value of autonomous emergency braking application is anticipated to be the fastest growing during the forecast period. Adaptive Cruise control is a luxury feature that allows vehicles cruise control system to adapt the vehicles speed to the traffic environment. The system can increase or decrease the car’s speed to maintain a safer distance
The study further includes the segmentation across different frequency bands that include 24 GHz and 77 GHz. The 24 GHz is a frequency band which is used in automotive radar. It is a vital component of Short range radar which is primarily being used for basic smart driving features such as blind spot detection and collision avoidance system. During 2014 to 2020, 22 GHz segment dominated the market. However from 2021, the market value of 77 GHz radars is anticipated to exceed the market of 24 GHz radar and reach $303.69 million by 2024.
LA automotive radar market is also fragmented across different vehicle types that include passenger vehicles, luxury vehicles and commercial vehicles. In 2017, passenger vehicles segment dominated the market and was valued at $61.21 million and is projected to reach $XX million by the end of forecast period. Adding to this, the increase in demand of radar systems in the luxury vehicles segment is expected to propel the luxury vehicles segment making it the fastest growing market during the forecast period.
For an in-depth understanding of the LA automotive radar market, the market is further segmented across different countries that are Brazil, Argentina, Chile and Rest of LA. In 2017, Brazil dominated Latin America automotive radar market in 2017 and is expected to remain dominant during the forecast period.
Some of the major players profiled in the report include Continental AG, Robert Bosch GmbH, Denso Corporation, Aptiv Plc, Infineon Technologies Inc., NXP Semiconductors NV, Valeo SA, Analog Devices Inc., Hella KGaA Hueck & Co and Texas Instruments Inc. These players are entering into several competitive strategies (partnerships, merger-acquisitions, joint venture, new product launch, business expansion and others) with each other or other supplier or automotive OEMs to strengthen their position in the market.
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