Automotive Radar Market size is estimated to reach $8.5 billion by 2027, growing at a CAGR of 9.6% during the forecast period 2022-2027.

HYDERABAD, TELANGANA, INDIA, September 2, 2022 /EINPresswire.com/ -- Automotive Radar Market size is estimated to reach $8.5 billion by 2027, growing at a CAGR of 9.6% during the forecast period 2022-2027. Stringent government mandates for improving vehicle safety standards are driving the demand for automotive radars as they are being utilized for enhancing safety features such as blind-spot identification, adaptive cruise control, collision warning, lane change assistance, and so on. Growing consumer demand for vehicle comfort and safety, as well as alarming rise in road accidents due to vehicle collision, traffic, and others, is catering to the market growth of such sensor systems.

Key Takeaways:

1. Short & Medium Range segment is analyzed to Witness the fastest growth in the global automotive radar market during 2022-2027, owing to surge in demand for ADAS based vehicles, as well as growing emphasis on integration more than two radars within automotives.

2. Adaptive Cruise Control application dominated the global automotive radar market in 2021, attributed to rising number of road accidents or fatalities, and significant adoption of automakers towards integrating vehicles with adaptive cruise control features.

3. Europe Automotive Radar market held the largest share in 2021, owing to government regulations towards improving vehicle safety standards, rising production of passenger and commercial vehicles and so on.

4. Stringent government mandates for improving vehicle safety standards along with growing trend towards autonomous and electric vehicles is analyzed to significantly drive the market growth of automotive radars during 2022-2027.

Interested in knowing more relevant information? Click here:
https://www.industryarc.com/pdfdownload.php?id=501104

Segmental Analysis:

1. Growing demand for vehicles with advanced driver assistance functionalities, pricing flexibility, and increased emphasis on the integration of more than two radars within automotive, can be considered vital factors attributing to its market growth. Since both short and mid-range radars can be placed on all four corners of the vehicle, enabling early obstacle or pedestrian detection, compared to long-range radars which are generally used in the front section, they have been gaining wide popularity across automotive markets over time.

2. Automotive radars for adaptive cruise control application dominated with a share of around 34% in 2021, owing to factors like rising number of road accidents or fatalities, along with increased adoption of automakers towards integrating adaptive cruise control features.

3. Growing installation of corner radars, rising demand for emergency braking solutions, alongside increased demand for the premium segment, luxury or high-end vehicles have been driving the market growth forward.

Competitive landscape:

The top 5 players in the Automotive Radar industry are:

1. Analog Devices Inc

2. Aptiv plc

3. Autoliv Inc


4. Continental AG

5. Denso Corporation

Click on the following link to buy the Automotive Radar Market Report:
https://www.industryarc.com/reports/request-quote?id=501104

Why Choose IndustryARC?

IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

Related Reports:

A. Advanced Driver Assistance Systems (ADAS) Market
https://www.industryarc.com/Report/20/advanced-driver-assistance-systems-market.html

B. Automotive Sensors Market
https://www.industryarc.com/Report/7364/Automotive-Sensors-Market-Research-Report.html

Contact Us:

Mr. Venkat Reddy
IndustryARC
Email: venkat@industryarc.com, sales@industryarc.com
USA: (+1) 970-236-3677, (+1) 815-656-4596
IND: (+91) 40-485-49062

Venkat Reddy
IndustryARC
+1 614-588-8538
venkat@industryarc.com
Visit us on social media:
Facebook
Twitter
LinkedIn