Automotive Radar Market Global Forecasts by Key Players: ZF TRW automotive, Infineon, Texas instruments, Delphi automotive, Autoliv, Fujitsu, Hella and Valeo
Automotive Radar Market is anticipated to cross USD 8.5 billion 2024. Government initiatives to incorporate safety and security systems in the vehicles and demand for luxury vehicles are driving the automotive radar market.
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Top Key Players:-
The key players of global Automotive Radar Market are ZF TRW automotive, Infineon, Texas instruments, Delphi automotive, Autoliv, Fujitsu, Hella and Valeo.
North America is estimated to acquire substantial share owing to high adoption rate of advanced technology product and manufacturing facilities of established automobile companies in the region. Initiative taken by Federal Motor Carrier Safety Administration (FMCSA) to reduce occurrence of accidents of commercial motor vehicles is driving the demand for safety features in cars. It aims to facilitate, evaluate and test the on-board safety applications in co-ordination with the truck industry.
Growth in Asia pacific is led by countries such as India and China owing to increase in the manufacturing and sales of the vehicles in the region. China is expected to acquire about 45% share of the total Asia Pacific region. Europe automotive radar Market will exhibit increased adoption with maximum contribution by Germany owing to presence of majority of vehicle manufacturers in the region.
Major Points of Table Of Content:-
3 Automotive Radar Industry Insights
3.1 Automotive radar industry segmentation
3.2 Industry size and future growth prospects, 2013 - 2024
3.3 Industry ecosystem analysis
3.4 Industry Impact forces
3.4.1 Growth drivers
220.127.116.11 Consumer need for safety
18.104.22.168 Enhanced automobile safety ratings
22.214.171.124 Growing sales of luxury cars
3.4.2 Industry pitfalls and challenges
126.96.36.199 High cost
3.5 Growth potential analysis
3.6 Porter’s analysis
3.7 Company market share analysis, 2015
3.8 PESTEL analysis
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Based on application, adaptive cruise control (ACC) system accounted for more than 30% of the automotive radar market share in 2015. Increasing demand for ACC attributed to its function of effective monitoring and maintaining safe distance between the vehicles that assist in reducing road fatalities. Blind spot detection (BSD) segment is expected to cross 15% CAGR during the forecast timeframe. BSD facilitate driver to detect any vehicle or obstacle which are not visible in rear view mirror.
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