According to Global Market Insights, Inc., 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.
Increasing technology penetration in the automobile industry will dynamically impact Automotive Radar Market size over the coming years. Rising concerns over passenger and vehicle safety will build huge growth opportunities for the Automotive Radar Market. As per Association for Safety International Road Travel (ASIRT), on an annual basis approximately 1.3 million people die as a result of road accidents. To reduce these fatal accidents, cars are featured with collision prevention systems, which in turn will fuel global industry growth trends.
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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.
A complete analysis of the competitive landscape of the global automotive radar market is provided in the report. this section includes company profiles of market key players. The profiles include contact information, gross, and capacity, product details of each firm, price, and cost.
- To track and analyze competitive developments, such as product launches, agreements, partnerships, collaborations, and acquisitions in the global automotive radar market
- To forecast the size of the market segments with respect to four major regional segments namely North America, Europe, Asia Pacific, and The Rest of The World (Latin America and The Middle East & Africa).
Automotive radar finds applications across a broad spectrum of automobile systems such as Adaptive Cruise Control (ACC), Lane Departure Warning System (LDWS), Blind Spot Detection (BSD), Forward Collision Warning System (FCWS), and Parking Assistance (PA) system. Automotive radar market size in adaptive cruise control (ACC) application is projected to grow at a CAGR of 17.7% over the forecast period, driven by its ability to monitor the specified gap between vehicles.
Blind spot detection (BSD) is another lucrative application area of automotive radar market. Automotive Radar Market share in BSD industry is anticipated to grow at a rate of 19.1% over the coming seven years, owing to the collision sensing capability of this system, in case some other vehicle enters the blind spot. Automotive radar market size is also witnessing a favorable growth in forward collision warning system (FCWS), owing to the rising norms pertaining to the vehicle safety.
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
The Automotive Radar Market will witness innovative technological developments and strategic collaborations & partnerships over the coming years. Market players will focus towards improving their product and solution portfolios with respect to the cost features, to sustain the competitive business scenario. Key Automotive Radar Market participants include Valeo, ZF TRW Automotive, Hella, Fujitsu, Delphi Automotive LLP, Texas Instruments, Robert Bosch GmbH.
Major Table of Content:-
Chapter 4 Automotive Radar Application Insights
4.1 Global market share by application, 2015 & 2024
4.2 Adaptive Cruise Control (ACC)
4.2.1 ACC market estimates and forecast, 2013 – 2024
4.2.2 ACC market estimates and forecast, by region, 2013 – 2024
4.3 Blind Spot Detection (BSD)
4.3.1 BSD market estimates and forecast, 2013 – 2024
4.4 Forward Collision Warning System (FCWS)
4.4.1 FCWS market estimates and forecast, 2013 – 2024
4.4.2 FCWS market estimates and forecast, by region, 2013 – 2024
4.5 Lane Departure Warning System (LDWS)
4.5.1 LDWS market estimates and forecast, 2013 – 2024
4.5.2 LDWS market estimates and forecast, by region, 2013 – 2024
4.6 Parking Assistance (PA)
4.6.1 PA market estimates and forecast, 2013 – 2024
4.6.2 PA market estimates and forecast, by region, 2013 – 2024
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/automotive-radar-market
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