Driving Safety Forward : Insights into the Automotive RADAR Market Trends and Innovations Forecast, 2021-2028

The global automotive RADAR market was valued at $4.08 billion in 2020, and is projected to reach $10.06 billion by 2028, registering a CAGR of 12.6%.

The demand for safety features, such as parking assistance, collision avoidance systems, lane departure warnings, traction control, electronic stability control, tire pressure monitors, airbags, and telematics is experiencing an upward trend owing to increase in number of road accidents worldwide. Automotive RADAR Size is a major component of the advance driver assistance systems (ADAS), which can detect and classify certain objects on the road, and accordingly, alert the driver of the nearby surroundings and road conditions.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/2428

In addition, these systems can also automatically decelerate or stop the vehicle depending on the road conditions. Road accidents are a major cause of deaths globally. It is observed that there is a tremendous increase in the death rates due to road accidents. For instance, according to World Health Organization's report, nearly 1.3 million people die in road traffic crashes each year. Moreover, road traffic injuries leading to death are higher among teenagers. These factors are leading to the growing demand for safety features in vehicles. Companies operating in the automobile sector are developing and introducing the safety features to meet the needs of the customers. For instance, in February 2020, HELLA (company that manufacturers cutting-edge lighting and electronics components) announced the production plan for the latest 77 GHz RADAR technology.

As a crucial application of complementary metal oxide semiconductors (CMOS) RADAR, automotive RADAR is evolving as a key technology supporting the functioning of smart and autonomous features in modern vehicles, for instance, reducing driver stress, relieving drivers from repetitive tasks, and adding life-saving automatic interventions. These benefits are expected to increase the penetration of automotive RADARs during the forecast timeframe.

Today, consumers are fairly inclined toward comfort while driving. Safety features, such as adaptive cruise control and parking aid systems, which use automotive RADARs are being introduced by manufacturers in high-end cars to offer greater comfort to drivers. However, the driver can overrule the system at any time. Other systems such as night vision system, and others, that support the driver for lateral control of the vehicle are in continuous development phase. Automotive RADAR is used in these systems to detect the surrounding of the vehicle with high accuracy and precision. In addition, the demand for driver assistance applications has significantly increased in the recent years due to increase in the purchasing power of consumers and has influenced consumers to shift to more comfortable driving experience.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/automotive-RADAR-market/purchase-options

Moreover, the per capita income of consumers has increased due to improvement in the economic condition of several developed countries like the U.S. and various European countries. Superior comfort offered by automotive RADAR assisted systems is expected to fuel the growth of the automotive RADAR market during the forecast timeframe.

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 :

Due to the outbreak of COVID-19, the sales figures went significantly low in the recent years, as both the demand for new vehicles and their production was hugely impacted severely. This impacted the revenue streams allocated toward the R&D and adoption of new technologies like automotive RADAR.

However, with the mass vaccination drive on board, the global situation is getting back on track at a slow & steady pace, and the market is anticipated to revive soon.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :

Analog Devices, Inc.,
BorgWarner Inc.,
Continental AG,
DENSO Corporation,
NXP Semiconductors,
Robert Bosch GmbH,
Texas Instruments,
Valeo,
Veoneer Inc.
ZF Friedrichshafen AG.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/2428

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘 :

In 2020, by application, the Intelligent Park Assist segment generated the highest revenue.

In 2020, by frequency, the 24 GHz segment was the highest revenue contributor.

In 2020, by range, the Short and Medium Range RADAR (S&MRR) segment generated the highest revenue.

In 2020, by Vehicle Type, the passenger car segment was the highest revenue contributor

In 2020, region-wise, Asia-Pacific contributed the highest revenue, followed by Europe, North America, and LAMEA.

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :

Automotive Airbag Silicone Market : https://www.alliedmarketresearch.com/automotive-airbag-silicone-market-A14576

Automotive Curtain Airbags Market : https://www.alliedmarketresearch.com/global-automotive-curtain-airbags-market-A14577

Automotive Door Hinges Market : https://www.alliedmarketresearch.com/global-automotive-door-hinges-market-A14578

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 :

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