North America is Expected to be the Most Lucrative Market for Automotive Radar During Forecast Period 2021-2031

The report offers actionable and valuable market insights of Automotive Radar. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Automotive Radar Market across various industries and regions.

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According to a latest report published by Fact.MR, the global automotive radar market is set to reach US$ 7,260.8 Mn by 2022 up from US$ 2,000 Mn in 2017, registering a robust CAGR.  As compared to other sensing technology, automotive radars show higher efficiency and functionality in extreme road conditions (extreme temperatures, critical weather and poor light). This, is turn, is supporting the rapid incorporation of automotive radar in vehicles. Automobile companies are steadily making the shift from manufacturing function-specific capabilities to developing self-driving technology, which is anticipated to increase the applicability of radar technology in the years to come.

This newly published and insightful report sheds light on Market Insights of Automotive Radar, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Automotive Radar Market.

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Key Segments of the Automotive Radar Market

Fact.MR study on the automotive radar market offers information classified into four important segments: range, sales channel, application, and region. This market report proposes comprehensive data and information about the important market changing aspects and evolution structures related with these categories.

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Leading Players Make Massive Inroads with Research Initiatives and Collaborative Strategies

Robert Bosch GmbH, headquartered in Stuttgart, Germany and Continental AG with its headquarters in Hanover, Germany are two of the leading players in the automotive radar market. Robert Bosch has made massive inroads in the automotive radar market space with critically timed acquisitions, mergers and takeovers.

In the year 2017, Robert Bosch entered into a collaboration with Tom Tom to launch a unique HD map with an integrated radar road signature layer for the localization of vehicles in autonomous driving. It has also showcased its prowess in research and development that has enabled it to come out with innovative products and solutions.

Bosch has partnerships with myriad universities and research institutes with a keen focus on information technology and sensors. It has also procured proprietary patent rights for all its products thus giving it an edge.

As per Fact.MR’s study, demand for vehicles with cutting-edge safety features is gaining traction in emerging countries such as India and China, thereby creating lucrative opportunities for automotive radar manufacturers. Following are the key insights from Fact.MR’s forecast on the global automotive radar market;

• Demand for short-range radar to remain significantly high throughout the assessment period. Short-range radars are anticipated to command for nearly half of the market, in terms of revenue. Towards the end of 2022, nearly US$ 3,500 Mn worth short range radars are projected to be sold across the globe.
• By vehicle type, passenger will continue to be the most attractive segment of the market. By the 2022-end, this segment is expected to reach a market valuation of over US$ 5,300 Mn, expanding at exponential CAGR.  The passenger car segment is likely to command for over two-third revenue share of the market in 2017. Meanwhile, the LCV segment is anticipated to hold position during the same period.
• Based of application, the adaptive cruise control segment will command for an impressive market share of over 43% by the 2017-end. Popularity of adaptive cruise control is on the rise as it is now considered to be an important safety feature of modern vehicles. The autonomous emergency braking segment is also coming into prominence of late and trend is likely to continue throughout the assessment period.
• By frequency type, automotive radar with 2x GHz frequency is currently at the forefront of the market in terms of revenue and is estimated to command for over one-half share by 2017-end. However, demand for the automotive radars with 7x GHz frequency is anticipated to outpace the former towards the end of 2022.
• Among regions, North America is expected to lead the global automotive radar market in terms of revenue throughout the forecast period.
• Denso Corporation, Continental AG, Analog Devices, Inc, Robert Bosch GmbH, ZF Friedrichshafen AG, Delphi Automotive PLC, NXP Semiconductors N.V., Infineon Technologies AG, Autoliv, Inc, Texas Instruments, Inc., and Hella KGaA Hueck & Co. are some of the top companies operating in the global market for automotive radar.

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Report Benefits & Key Questions Answered

• Automotive Radar Company & brand share analysis: The report offers in-depth Automotive Radar brand share analysis to estimate percentage of the market covered by Tier 1, Tier 2, and Tier 3 companies
• Automotive Radar Historical volume analysis: The report offers a comparative analysis between historic sales of Automotive Radar and projected sales performance for 2021-2031
• Automotive Radar Category & segment level analysis: Fact MR presents a comprehensive analysis of factors enabling sales growth across key segments. It underscores chief growth drivers and offers valuable information to identify sales prospects a local and regional levels
• Automotive Radar Consumption by demographics: To offer informed recommendation, the report studies behavior and consumption pattern of consumers. The demographics analysis is intended at helping business better understand consumer preference and design their product and market strategies around it
• Post COVID consumer spending on Automotive Radar: The Fact MR market survey carefully studies consumer spending behavior post COVID-19. It gauges how prevailing trends have influenced their behavior, subsequently impacting their spending power

More Valuable Insights on Automotive Radar Market

Fact.MR, in its new report, offers an unbiased Market Analysis of Automotive Radar, Sales and Demand of Automotive Radar, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.

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