Press release
Automotive Radar Market to witness huge growth by 2024: Top Leading Companies – (Analog Devices, Autoliv, Continental, Delphi, Denso, Fujitsu Global, Hella, Infineon Technologies, NXP Semiconductors, STMicroelectronics, Texas Instruments, Valeo)
Automotive Radar Market
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Industry Growth drivers:
1 Consumer need for safety
2 Enhanced automobile safety ratings
3 Growing sales of luxury cars
High frequency radar systems in the 79GHz band tend to perform better than the standard 24 GHz and 76 GHz bands as they offer greater capability and reduces device size. Sensing technologies enable lane keeping, driver assistance and forward collision warning alerts. Additionally, they constitute for advanced systems such as automatic emergency braking. The automotive radar market share is characterized by outsourcing of manufacturing process to low-cost countries to leverage low labor costs.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Analog Devices
• Autoliv
• Continental
• Delphi Automotive LLP
• Denso Corporation
• Fujitsu
• Hella
• Infineon Technologies
• NXP
• Robert Bosch
• STMicroelectronics
• Texas Instruments
• Valeo
• ZF TRW Automotive
Automotive Radar Market, By Application
• Adaptive Cruise Control (ACC)
• Blind Spot Detection (BSD)
• Lane Departure Warning System (LDWS)
• Parking Assistance (PA)
• Forward Collision Warning System (FCWS)
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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.
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.
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.
Sensor manufacturers establish relationships with several wafer foundries, test and assembly subcontractors to enhance cost effectiveness and provide flexibility in meeting the manufacturing needs.
Browse Report Summery @ https://www.gminsights.com/industry-analysis/automotive-radar-market
Key automotive radar market players are NXP, Infineon, and STM. Other major players in the industry include Valeo, ZF TRW Automotive, Texas Instruments, Hella, Robert Bosch, Fujitsu, Delphi Automotive, Denso, Autoliv, and Continental.
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