Press release
Automotive Radar Market | Key Players are Continental, Autoliv, Delphi Automotive, Denso, Fujitsu, Infineon Technologies, Robert Bosch, Valeo, ZF TRW Automotive, Texas Instruments, NXP, Hella, Analog Devices
Automotive Radar Market in adaptive cruise control systems industry accounted for over 36% of the overall revenue in 2015, and is expected to register a CAGR of 17.7% over 2016-2024. The growth can be credited to its ability to monitor and maintain user-specified distance between the automobiles. Its application in blind spot detection systems industry is expected to grow at a rate of 19.1% over the coming eight years. It makes the driver alert when another vehicle enters blind spot and provides more time for drivers to avoid collisions with the obstacles that are not clearly visible in the rear-view mirror.
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Growing penetration of commercial vehicles across the globe will drive demand over the coming years. Increasing requirement for high performance, light weight automobiles, to enhance energy efficiency and curtail friction-based energy loss is contributing towards the demand for efficient products. Moreover, customer preferences to utilize fuel-efficient, advanced vehicles equipped with additional safety features is expected to boost the ball bearings market share over the forecast period.
Top Key Players:-
• Analog Devices
• Autoliv
• Continental
• Delphi Automotive LLP
• Denso Corporation
• Fujitsu
• Hella
• Infineon Technologies
• NXP
• Robert Bosch
• STMicroelectronics
• Texas Instruments
• Valeo
• ZF TRW Automotive
Regional Segmentations:-
Asia Pacific automotive radar market size is predicted to witness a substantial growth over the coming years due to high automobile production and sales. China, which accounted for over 45% of the overall revenue in 2015, is expected to contribute significantly towards the regional share over the coming years.
Europe automotive radar market share is expected to witness significant gains of 17.5% over the coming eight years. The growth can be credited to presence of key automotive industries in the region. Germany market revenue is projected to surpass USD 500 million by 2024.
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Major Points of Table Of Content:-
Chapter 1 Methodology & Scope
1.1 Research Methodology
1.1.1 Initial data exploration
1.1.2 Statistical model and forecast
1.1.3 Industry insights and validation
1.1.4 Research scope & assumptions
1.2 Data Sources
Chapter 2 Executive Summary
2.1 Automotive radar industry 3600 synopsis, 2013 - 2024
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Application trends
Chapter 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
3.4.1.1 Consumer need for safety
3.4.1.2 Enhanced automobile safety ratings
3.4.1.3 Growing sales of luxury cars
3.4.2 Industry pitfalls and challenges
3.4.2.1 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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Rising safety concerns among consumers coupled with favorable government policies mandating the inclusion of safety & control systems in vehicles to minimize road accidents & casualties is projected to propel the automotive radar market size over the coming years. According to Global Market Insights, Inc., “Automotive Radar Industry Size worth USD 1.9 billion in 2015, is anticipated to reach USD 8.9 billion by 2024, registering a CAGR of 18.7% over 2016-2024.” According to Association for Safe International Road Travel (ASIRT), nearly 1.3 million people die in fatal road accidents each year. Prevention of such fatal road accidents has become a main cause of public concern across the globe. Use of ADAS (advanced driver assistance systems) in passenger cars, which help in providing car safety as well as road safety, is expected to provide significant growth avenues for the automotive radar industry.
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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Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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