The Automotive Radar Market Is Estimated To Hit USD 3.96 Billion By The End Of 2029

Fact.MR, in its latest business intelligence study, depicts the nuts and bolts of the global Automotive Radar market. The report presents detailed information regarding the drivers, restraints, opportunities and trends affecting market growth.

The right automotive radar technology needs a significant breakthrough if it is to overcome hideously difficult, onerous and time consuming limitations of self-driving. Cutting-edge and specialized automotive radars that can sense and seamlessly adapt to an automobile’s surroundings to navigate notorious traffic congestions could be the key that gives leading automotive radar stakeholders an edge in the market. Each segment along with its sub-segment is analyzed in terms of value and volume. Further, the report elaborates the market behavior of each vendor operating in the Automotive Radar market.

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Key findings of the Automotive Radar market study:

• The report provides a present market outlook on Automotive Radar. Additionally, the Automotive Radar market share is anticipated to grow with a CAGR of 9.7% in the forecast period.
• Regional breakdown of the Automotive Radar market based on predefined taxonomy.
• Innovative manufacturing processes implemented by Automotive Radar vendors in detail.
• Region-wise and country-wise fragmentation of the Automotive Radar market to grasp the revenue, and growth outlook in these areas.
• Changing preferences among consumers across various regions and countries.
• Factors (Positive and Negative) impacting the growth of the global Automotive Radar market.
• Automotive Radar price, market share, and Trends forecast for assessment period 2019-2029

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.

Range 

• Long Range
• Mid-Range
• Short Rangea

Sales Channel

• OEM
• Aftermarket

Application   

• Adaptive Cruise Control
• Autonomous Emergency Brake
• Autonomous Park Assist
• Blind Spot Information
• Other Applicationsa

Region

• North America
• Latin America
• Europe
• Japan
• APEJ
• MEA

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What makes this Research different from others?

• COVID- Impact analysis- The report includes details of the impact of the pandemic on the Automotive Radar market further including insights on the pre-COVID situation. Additionally, this report benefits in terms of post-COVID recovery prospects, changing consumer demands, and buying patterns valuable for Automotive Radar companies.
• Industrial trend analysis- The research covers recent trends in the field of Automotive Radar which are augmented with the applicable technologies and shifts in industrial processes. The scope for digital and industrial technologies is discussed in order to help client firms to understand the benefits and risks included in light of market trends.
• Automotive Radar Sustainability metrics- The rising concerns of environmentally friendly production and consumption are taken to next level in this research, as research is focused on emerging methods of ensuring sustainability. These insights include climate-friendly initiatives adopted by some players in the industry. Furthermore, details of manufacturers’ impact on carbon footprint are evaluated intend to make clients aware of their contribution to sustainable development goals.

Competitive Landscape

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.

It is said that the company has employed nearly 60,000 individuals who are purely focused on the company’s R&D activities. The company also leverages its growth with its profoundly strong operational network that efficiently serves its humungous customer base.

The meteoric rise of Continental AG has been its single minded focus on providing scalable and innovative protection systems for vehicle occupants as well as ADAS that uses automotive radars to fulfill safety and comfort functions. The company has smartly strategized its expansion by entering into agreements with other players in the market.

Continental signed an agreement with Nexteer automotive in the year 2017 in a joint venture focused on the development of motion control systems and actuator components for automated driving.

It also entered into a partnership with AND to enrich map and location data with the requisite sensor data collected from vehicles. Its biggest strength has been its ability to multiply by leaps and bounds in all the major markets of the world thus mitigating the risk associated with overdependence on only one region.

It provides automotive parts with operations in about 46 different countries of the world with Europe accounting for a major chunk of the company’s total revenue.

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