Automotive Radar Market Global Opportunities, Top International Players, Share, Industry Trends, Growth Forecast till 2025

(The Express Wire via Comtex)

Automotive Radar Market by Top Players are Autolive Inc., NXP Semiconductors N.V., Bosch GmbH, Valeo S.A, Denso Corporation, Delphi Automotive PLC, Continental AG forecast till 2025

The global automotive radar market volume is projected to reach 43.6 million units by 2026, exhibiting a CAGR of 8.9% during the forecast period. One of the key factors driving this market is the rising number of road accidents and fatalities worldwide. According to the Association for Safe International Road Travel (ASIRT), road crashes kill close to 1.25 million people every year, with an additional 20 to 50 million people getting injured or disabled. The ASIRT estimates that nearly 2.2% of global deaths are caused by road accidents, making the ninth leading cause of deaths worldwide. Furthermore, more than 90% of these accidents occur in low and middle-income countries, causing them an economic loss of around USD 65 billion annually. As a result, governments are formulating more stringent laws regarding safety levels in vehicles and radar technology is expected to play a key role. This will considerably expand the automotive radar market size in the forecast period.

To gain more insights into the market, click here: https://www.fortunebusinessinsights.com/industry-reports/automotive-radar-market-101688

According to the Fortune Business Insights report, titled “Global Automotive Radar Market Size, Share and Industry Analysis, By Range (short-range, medium-range, long-range), By Application (Adaptive Cruise Control (ACC), Automatic Emergency Braking (AEB), Forward-Collision Warning System (FCWS), Blind Spot Detection (BSD), Intelligent Parking Assistance), and Regional Forecasts, 2019-2026”, the volume of the market in 2018 stood at 21.0 million units. The report also contains detailed information about the drivers, trends, and competitive and regional dynamics that will influence the market during the forecast period. It also provides a macroscopic overview of the industry developments that will help businesses to make informed decisions and strategize according to the needs of the market.

Major companies operating in this Automotive Radar Market include:

  • Autolive Inc.
  • NXP Semiconductors N.V.
  • Bosch GmbH
  • Valeo S.A
  • Denso Corporation
  • Delphi Automotive PLC
  • Continental AG

Request a Sample Copy of the Global Automotive Radar Market Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/automotive-radar-market-101688

Europe to Occupy a Commanding Position in the Market; North America to Grow Healthily

Among regions, Europe is projected to dominate the automotive radar market share owing to a thriving automotive industry, particularly in Germany where automakers are engaged in developing enhanced safety features. In Asia-Pacific, OEMs are developing next-generation solutions to make transport more comfortable and efficient, thereby fueling the market in the region, the automotive radar market forecast states. Increasing adoption of sensor-based technologies will propel the market in North America, aiding the region to showcase steady growth during the forecast period.

Key segmentation of Automotive Radar Market:

Automotive Radar Market Segments by Range

  • Short-Range RADAR
  • Medium-Range RADAR
  • Long-Range RADAR

By Application

  • Adaptive Cruise Control (ACC)
  • Autonomous Emergency Braking (AEB)
  • Forward Collision Warning System (FCWS)
  • Blind Spot Detection (BSD)
  • Intelligent Parking Assistance

By Geography

  • North America (U.S., Canada, Mexico)
  • Europe (U.K., Germany, France, and Rest of Europe)
  • Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific)
  • Rest of the world

Innovative Solutions by Key Players to Bolster Competitive Spirits

The automotive radar market report by Fortune Business Insights highlights the fact that competition in this market is anticipated to intensify. This will be a result of increasing focus on innovation by key players along with rising investment in RandD and operational expansion globally.

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Some of the key industry developments include:

  • November 2019: Continental AG introduced its fifth-generation long-range radar having a range of up to 300 meters and crystal-clear resolution. It not only ensures a smooth ride through adaptive cruise control, but also elevates safety levels as the system is connected to the emergency braking mechanism.
  • January 2019: Valeo S.A partnered with Mobileye to develop an autonomous vehicle safety standard founded on the principle of Responsibility-Sensitive Safety (RSS). The standards will employ Mobileye’s mathematical safety model.

List of Figures

Figure 1: Global Automotive Radars Market Revenue Breakdown (Million Units, %) by Region, 2018 and 2026

Figure 2: Global Automotive Radars Market Size Share (%), by Range, 2018 and 2026

Figure 3: Global Automotive Radars Market Size Share (%), by Application, 2018 and 2026

Figure 4: Global Automotive Radars Market Size (Million Units), by Region, 2018 and 2026

Figure 5: North America Automotive Radars Market Size (Million Units), by Range, 2018 and 2026

Figure 6: North America Automotive Radars Market Size Share (%), by Range, 2018

Figure 7: North America Automotive Radars Market Size (Million Units), by Application, 2018 and 2026

Figure 8: North America Automotive Radars Market Size Share (%), by Application, 2018

Figure 9: North America Automotive Radars Market Size (Million Units), By Country, 2018 and 2026

Figure 10: North America Automotive Radars Market Size Share (%), By Country, 2018

Figure 11: Europe Automotive Radars Market Size (Million Units), by Range, 2018 and 2026

Figure 12: Europe Automotive Radars Market Size Share (%), by Range, 2018

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