Automotive Radar Market Revenue, Trends, & Regional Analysis 2018-2024 By Key Companies – Analog Devices, Autoliv, Continental, Delphi, Denso, Fujitsu Global, Hella, Infineon Technologies, STMicroelectronics, Texas Instruments, and Valeo.

Automotive Radar Market in 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.

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Industry Growth drivers:

1 Consumer need for safety
2 Enhanced automobile safety ratings
3 Growing sales of luxury cars

China accounted for more than 45% of the overall Asia Pacific automotive radar market share in 2015. Growth across the region can be dedicated to potential automotive sales as well as production through 2024.

Germany automotive radar market size was valued is forecast to exceed USD 500 million by 2024. Existence of major automobile manufactures in the region will drive growth prospects.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Analog Devices
2. Autoliv
3. Continental
4. Delphi Automotive LLP
5. Denso Corporation
6. Fujitsu
7. Hella
8. Infineon Technologies
9. NXP
10. Robert Bosch
11. STMicroelectronics
12. Texas Instruments
13. Valeo
14. ZF TRW Automotive

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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.

Automotive Radar Market size is expected to reach USD 8.98 billion by 2024; according to a new research report by Global Market Insights, Inc. Favorable government initiatives that mandate the incorporation of safety and control systems into automobiles to reduce the number of road accidents and related casualties will drive demand. Growing sales of motor vehicles, especially luxury cars have significantly spurred revenue growth. Economic factors such as low interest rates and rise in disposable income have positively contributed towards increase in auto sales. Introduction of advanced driver assistance systems (ADAS) in passenger cars could offer significant growth opportunity for the automotive radar market size.

ACC (adaptive cruise control) accounts for 34% of the automotive market share and is expected to grow at 17.7% from 2016 to 2024. The capability of monitoring as well as maintaining user-specified gap between the vehicles will surge demand.

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BSD (blind spot detection) system generates alert signals whenever other vehicle arrives into the blind region providing more time for drivers to react against obstacles that are not clearly visible in the rearview mirror.

Some of the players in the automotive radar market are ZF TRW automotive, Infineon, Texas instruments, Delphi automotive, Autoliv, Fujitsu, Hella and Valeo.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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