Press release
Automotive Radar Market Report 2024: 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
As per Insurance Institute for Highway Safety, one in every three fatal accidents can be avoided if collision avoidance systems such as automotive radars are installed in passenger vehicles. Automotive radar provides safety features such as lane departure warning, forward collision warning alerts, collision detection, automatic emergency braking system, adaptive cruise control, blind spot detection, rear-cross traffic alerts, parking assistance, side-view assistance, etc. Growing awareness among the consumers about these safety features is anticipated to boost the demand for automotive radars over the coming eight years.
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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. 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.
Asia Pacific automotive radar industry 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.
Key industry participants include Texas Instruments, Denso Corporation, Delphi Automotive, Infineon Technologies, TRW Automotive Company, Bosch Automotive Steering Private Limited, Fujitsu Limited, and Continental Corporation. The automotive radar market is characterized by frequent mergers & acquisitions as well as growth of next generation technology. Suppliers are focusing on developing cost-effective systems for mass-market automobiles, which can further catalyze industry growth.
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Some Point from Table of Contents:
Chapter 4 Automotive Radar Application Insights
4.1 Global automotive radar market share by application, 2015 & 2024
4.2 Adaptive Cruise Control (ACC)
4.2.1 ACC market estimates and forecast, 2013 - 2024
4.2.2 ACC market estimates and forecast, by region, 2013 - 2024
4.3 Blind Spot Detection (BSD)
4.3.1 BSD market estimates and forecast, 2013 - 2024
4.4 Forward Collision Warning System (FCWS)
4.4.1 FCWS market estimates and forecast, 2013 - 2024
4.4.2 FCWS market estimates and forecast, by region, 2013 - 2024
4.5 Lane Departure Warning System (LDWS)
4.5.1 LDWS market estimates and forecast, 2013 - 2024
4.5.2 LDWS market estimates and forecast, by region, 2013 - 2024
4.6 Parking Assistance (PA)
4.6.1 PA market estimates and forecast, 2013 - 2024
4.6.2 PA market estimates and forecast, by region, 2013 - 2024
Browse complete Table of Contents (ToC) of this research report@ https://www.decresearch.com/toc/detail/automotive-radar-market
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