Automotive Radar Market to Grow at a CAGR of 14.9% to reach US$ 11,640.77 Million from 2020 to 2027

 

The automotive radar market was valued at US$ 5,019.01 million in 2019 and is projected to reach US$ 11,640.77 million by 2027; it is expected to grow at a CAGR of 14.9% during 2020–2027.

The automotive radar market is driven by various factors such as increasing government regulations concerning vehicle safety, rising adoption of premium vehicles, as well as a growing number of radars used in a vehicle. Moreover, the rising production and adoption of electric vehicles (EV) are further expected to support the growth of the automotive radar market. It is anticipated that in the coming years, autonomous driving will be the growing trend. To attain this, several vision technologies have increased intending to deliver functionality as well as safety to the vehicle's drivers and passengers. Radar systems are considered the most established and trusted technologies among the automotive industry's various vision technologies. At present, several vehicle manufacturers provide 'level 3' automation, wherein drivers are on standby for a certain time. These vehicles are integrated with nearly five radar systems, including SSR and LLR, for applications such as emergency braking or adaptive cruise control.

Some of the key player’s analysis in the Automotive Radar market:

1. Continental AG
2. Denso Corporation
3. Aptiv plc
4. HELLA GMBH & CO. KGAA
5. Robert Bosch GmbH
6. VALEO SA
7. ZF Friedrichshafen AG
8. Veoneer Inc.
9. Nidec Elesys Corporation
10. TungThih Electronic Co., Ltd.

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Global Automotive Radar Market Survey Report

One of the key parts of this report consists of discussions of key vendors in the Automotive Radar industry on brand overview, profile, market revenue, and financial analysis. The report helps market players build future business strategies and discover global competition. Detailed segmentation analysis of the market is done by report producer, region, type and application.

Based on geography, the market report covers data points for multiple regions such as US, Europe, China, Japan, Southeast Asia, India, Latin America

Market analysis:

Other key factors considered in this report include supply and demand dynamics, industry processes, import and export scenarios, R&D development activities, and cost structures. The report also estimates consumption demand and supply figures, production costs, gross margins, and product selling prices.

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The main questions answered in this report are:

• Which segments will perform well in the Automotive Radar market over the projected years?
• In what market does a company need to approve its existence?
• What is the projected growth rate of the market?
• What are the long-term deficiencies in the industry?
• How does the share market change its value with different manufacturing brands?
• What are the key players' qualities and drawbacks?
• What are the main outcomes and effects of the five strengths surveys on industry?

The conclusion part of their report focuses on the existing competition analysis of the market. Added some insights that are useful to both industry and clients. All major manufacturers included in this report are ready to grow their businesses in the region. We would like to thank the security industry experts and public relations engineers, as well as the support and assistance from the research and conventions of the pilot group. Market rates, volumes, income, supply and demand data are also examined.

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The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

 

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