Global Automotive Radar Market Expected To Reach $ 28.25 Billion By 2028
NEW YORK, NY, UNITED STATES, December 26, 2021 /EINPresswire.com/ – The Global automotive radar market is expected to reach $ 28.25 billion by 2028, according to a new report from Reports and Data. Automotive radar helps locate objects surrounding the car using the radar system transmitter and receiver. The radar system’s transmitter emits radio waves that trip into the object and bounce back to the radar receiver, providing information about the real-time location of objects around the vehicle. The global market is growing at a steady rate due to the increasing demand for Advanced Driver Assistance Systems (ADAS) in all types of vehicles. The massive penetration of futuristic autonomous driverless vehicles across the world is influencing the market propelling due to its deployment of low cost, high performance safety additives in automotive systems. The most important constraints for the vehicle radar market are the laser solution, LIDAR, which is based on higher resolution surveillance and provides more accurate detection than radar.
The Asia-Pacific market is expected to generate revenue of USD 5.85 billion in 2026, owing to its strong demand for radar systems in all types of vehicles, coupled with the considerable penetration of the self-driving car market. driverless and the high growth of the entire automotive industry. in China, Japan and India. The United States has the highest market in the world while Germany and the Netherlands have some of the largest players in the market.
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The main participants are Continental AG, Robert Bosch GmbH, Infineon Technologies AG, Denso Corporation, Valeo, NXP Semiconductors NV, Texas Instruments Incorporated, Autoliv Inc., Delphi Technologies and Hella KGaA Hueck & Co.
Other key findings from the report suggest
Adaptive Cruise Control is an advanced form of self-regulating cruise control that automatically slows and accelerates to maintain an appropriate pace with the car past radar systems in traffic. The Adaptive Cruise Control sub-segment is expected to reach sales of USD 5.93 billion by 2026.
24 GHz is the short range radar system used in the automobile. Radars in the 24 GHz frequency band can cover a distance of up to 20 meters. These short range radars are inexpensive alternatives to high and medium range radar systems and are mainly used in low cost passenger vehicles. However, this 24 GHz segment is expected to be abandoned by most automotive radar manufacturers due to its operational inefficiencies. This segment held a market share of around 41.8% in 2018.
Level (0-2) vehicle automation includes vehicles without autonomous features to a few levels of automation such as automatic braking systems, adaptive cruise control and others. The market revenue for this sub-segment in 2018 was $ 1.78 billion.
North America, with its superiority in premium and mid-range vehicle market share and concerns about vehicle and road safety, is expected to maintain its leading position in the market with market share. of approximately 35.6% by 2026, and the CAGR is calculated to be 25.8% during the forecast period.
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The report analyzes the overall consumption rate in terms of value and volume.
It thoroughly studies the key segments and sub-segments of the.
The Automotive Radar report presents a detailed study of the intensely competitive landscape of the.
The report offers vital information on major industry players along with their values, sales volumes, and business growth strategies.
In addition, Automotive Radar report highlights strategic developments taking place around the world during the forecast period, such as expansions, agreements, mergers and acquisitions, and new product launches.
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For the purpose of this report, reports and data have segmented the global automotive radar market on the basis of applications, frequency band, level of vehicle automation, vehicle type, and region:
Outlook Applications (Revenue, Billions USD; Volume, Thousand Units; 2018-2028)
Adaptive cruise control
Autonomous emergency braking
Collision mitigation and warning system
Blind spot detection
Rear impact and collision aids
Parking control aids
Frequency Band Outlook (Revenue, USD Billion; Volume, Thousand Units; 2018-2028)
Level of Vehicle Automation Outlook (Revenue, USD Billion; Volume, Thousand Units; 2018-2028)
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Vehicle Type Outlook (Revenue, USD Billion; Volume, Thousand Units; 2018-2028)
Economy passenger vehicle
Mid-range passenger vehicle
High-end passenger vehicle
Regional Outlook (Revenue, USD Billion; Volume, Units in Thousands; 2018-2028)
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