Germany automotive radar market size was valued is forecast to exceed USD 500 million by 2024. Existence of major automobile manufactures in the region will drive growth prospects. Sensor manufacturers establish relationships with several wafer foundries, test and assembly subcontractors to enhance cost effectiveness and provide flexibility in meeting the manufacturing needs.
China accounted for more than 45% of the overall Asia Pacific automotive radar market share in 2015. Growth across the region can be dedicated to potential automotive sales as well as production through 2024.
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Automotive Radar Market size is expected to reach USD 8.98 billion by 2024; according to a new research report by Global Market Insights, Inc. Favorable government initiatives that mandate the incorporation of safety and control systems into automobiles to reduce the number of road accidents and related casualties will drive demand. Growing sales of motor vehicles, especially luxury cars have significantly spurred revenue growth.
High frequency radar systems in the 79GHz band tend to perform better than the standard 24 GHz and 76 GHz bands as they offer greater capability and reduces device size. Sensing technologies enable lane keeping, driver assistance and forward collision warning alerts. Additionally, they constitute for advanced systems such as automatic emergency braking. The automotive radar market share is characterized by outsourcing of manufacturing process to low-cost countries to leverage low labor costs.
Favorable government initiatives that mandate the incorporation of safety and control systems into automobiles to reduce the number of road accidents and related casualties will drive demand. Growing sales of motor vehicles, especially luxury cars have significantly spurred revenue growth. Economic factors such as low interest rates and rise in disposable income have positively contributed towards increase in auto sales. Introduction of advanced driver assistance systems (ADAS) in passenger cars could offer significant growth opportunity for the automotive radar market size.
Browse key industry insights spread across 88 pages with 44 market data tables & 28 figures & charts from the report, “Automotive Radar Market” in detail along with the table of contents: https://www.gminsights.com/industry-analysis/automotive-radar-market
Key automotive radar market players are NXP, Infineon, and STM. Other major players in the industry include Valeo, ZF TRW Automotive, Texas Instruments, Hella, Robert Bosch, Fujitsu, Delphi Automotive, Denso, Autoliv, and Continental.
Glimpse of Table of Content (ToC): –
Chapter 3 Automotive Radar Industry Insights
3.1 Automotive radar industry segmentation
3.2 Industry size and future growth prospects, 2013 – 2024
3.3 Industry ecosystem analysis
3.4 Industry Impact forces
3.4.1 Growth drivers
18.104.22.168 Consumer need for safety
22.214.171.124 Enhanced automobile safety ratings
126.96.36.199 Growing sales of luxury cars
3.4.2 Industry pitfalls and challenges
188.8.131.52 High cost
3.5 Growth potential analysis
3.6 Porter’s analysis
3.7 Company market share analysis, 2015
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/automotive-radar-market
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