Global Automotive Radar Market Analysis by Business Overview, Sale, Revenue, Emerging Trends, Development and Forecast to 2029
Global Automotive Radar Market: size was valued at US$ 4.08 Bn. in 2020 and the total revenue is expected to grow at 12.6 % through 2021 to 2027, Automotive Radar Market is reaching nearly US$ 10.03 Bn. by 2027.
Global Automotive Radar Market Overview:
The purpose of this research is to provide a detailed analysis of the Global Automotive Radar Market by segment and geography. The report goes into great detail about the primary factors influencing the Global Automotive Radar market's growth. The research also includes a comprehensive assessment of the market's value chain.
Global Automotive Radar Market Dynamic:
An increase in the number of road accidents globally, demand for safety features such as parking assistance, collision avoidance systems, lane departure warnings, traction control, electronic stability control, tire pressure monitors, airbags, and telematics is on the rise. Automotive radar is a key component of advanced driver assistance systems (ADAS), which can detect and identify certain items on the road and alert the driver to their surroundings and road conditions. Depending on the road conditions, these systems can automatically slow or stop the car.
Consumers currently are leaning toward comfort when driving. Manufacturers are introducing safety technologies that utilize automotive radars in high-end cars, such as adaptive journey control and parking help systems, to provide more comfort to drivers. However, the driver has the ability to override the system at any time. Other technologies, like night vision systems and others that assist the driver with lateral vehicle control, are still in development. In these systems, automotive radar is employed to detect the vehicle's surroundings with high accuracy and precision.
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To get the final quantitative and qualitative data, all possible components influencing the markets covered by this research study were studied, thoroughly researched, validated by primary research, and evaluated. Market size is predicted for top-level markets and sub-segments, and the influence of inflation, economic downturns, regulatory and policy changes, and other variables is taken into account when estimating market size. This data is collated and presented in this study, together with comprehensive contributions and analysis from companies.
To validate the market size and estimate the market size by different segments, top-down and bottom-up methodologies are utilized. The research's market estimates are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). Weights applied to each section based on usage rate and average sale price are used to determine percentage splits, market shares, and segment breakdowns. The percentage adoption or usage of the provided market Size in the relevant area or nation is used to determine the country-wise splits of the overall market and its sub-segments.
Global Automotive Radar Market Segmentation:
Based on Range Type, market is sub-segmented into long range, medium range, and short range. In 2020, medium and short range radar has the biggest market share and it is expected to grow at the fastest rate. These radars are widely employed in vehicle safety systems to identify objects in the area. Blind spot detection, lane change assist, and park assist are among the functions available. Over the forecast period, the market is expected to be driven by falling radar prices and the growing need to use more than two radars per system for improved performance. The rising acceptance of ACC in mid-priced automobiles is likely to drive growth of the long range radar second largest segment throughout the forecast period since long range radars are widely utilized in ACC. In 2020, the segment accounted for around 46% of the market.
Global Automotive Radar Market Key Players:
• Continental AG
• Robert Bosch GmbH
• Delphi Automotive PLC
• Denso Corporation
• Infineon Technologies AG
• NXP Semiconductors N.V.
• Valeo S.A.
• Analog Devices, Inc
• Hella KGaA Hueck & Co.
• Texas Instruments, Inc.
• Autoliv, Inc.
• ZF Friedrichshafen AG
• Aptiv plc
• Veoneer Inc.
• Nidec Elesys Corporation
• TungThih Electronic Co., Ltd
Market leaders are identified through primary and secondary research, and market revenue is calculated by primary and secondary research. Primary research included in-depth interviews with important thought leaders and industry professionals such as experienced front-line personnel, CEOs, and marketing managers, while secondary research included an analysis of the top manufacturers' quarterly and financial performance. Secondary data is used to establish worldwide market percentage splits, market shares, growth rates, and breakdowns, which are then cross-checked against primary data.
The major players covered in the Global Automotive Radar market report are
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Global, North America, Europe, Asia-Pacific, the Middle East, Africa, and South America market share statistics are accessible individually. Analysts at Maximize evaluate competitive strengths and conduct competitive analysis for each competitor individually.
COVID-19 Impact Analysis on Global Automotive Radar Market:
The COVID-19 pandemic has impacted industries such as aerospace and military, agriculture, autos, retail and e-commerce, energy and power, healthcare, packaging, mining, electronics, banking, financial services, and insurance, among others. COVID-19 has had an influence on the Global Automotive Radar market as a whole, as well as the growth rate in 2019-2020, as the impact of COVID-19 has spread. Our most recent questions, views, and market information are vital to the Global Automotive Radar industry's firms and associations.
Key Questions Answered in the Global Automotive Radar Market Report are:
- Which segment grabbed the largest share in the Global Automotive Radar market?
- What was the competitive scenario of the Global Automotive Radar market in 2021?
- Which are the key factors responsible for the Global Automotive Radar market growth?
- Which region held the maximum share in the Global Automotive Radar market in 2021?
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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