Press release
Automotive Radar Market is Forecasted to Reach US$ 14.4 Billion in 2028, Says Stratview Research
Stratview Research
Stratview Research, a global market research firm has launched a report on the global automotive radar market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
Click here to get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/2032/Automotive-Radar-Market.html#form
Report Highlights:
Market Size in 2028: US$ 14.4 billion
Growth (CAGR): 21.48% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 2
Number of Tables & Graphs: 100+
Segment Insights on the Automotive Radar Market:
The global Automotive Radar market is segmented based on Product type, Application type, and Region.
Based on application type - The market is segmented as Adaptive Cruise Control (ACC), Blind Spot Detection (BSD), Lane Departure Warning System (LDWS), Parking Assistance (PA) and Forward Collision Warning System (FCWS). Due to the rising automotive uses of radar technology, such as parking assistance, guiding, and reverse warnings, the parking assistance segment will increase at a CAGR of over 15% during the forecast period. While parking, the parking sensors notify drivers to potential impediments in real time. The parking manoeuvre is calculated by proximity sensors as soon as the driver activates the radar park assistant.
To know the most attractive segments, visit:
https://www.stratviewresearch.com/2032/Automotive-Radar-Market.html
Which Region Shows the Most Promising Growth Forecast and Opportunity?
Asia-Pacific accounted for the largest market share. The expanding initiatives and investments in the automotive sector, as well as an increase in the number of vehicle accidents, is propelling the Asia-Pacific's automotive radar market. It is estimated that around 35 cities in China have around 1 million cars on the road, causing traffic congestion and accidents on 75 percent of the roadways. Automobile radar sensors, which direct the driver along the path, are being used by automobile makers to assure vehicle and driver safety. Companies in the industry are promoting their next-generation transportation technology in order to reduce traffic congestion and improve overall transportation convenience.
Automotive Radar Market Drivers:
Some of the key drivers listed in the report are given below.
• A growing focus on active safety features, advances in radar technology, lower component prices, and increased vehicle sales.
• Radars are used in a variety of safety systems, such as adaptive cruise control, pedestrian identification, blind spot detection, and automated emergency braking, to detect objects.
Top Companies in the Automotive Radar Market:
Stratview Research has identified the following companies as the top market players.
• Analog Devices
• Autoliv
• Continental
• Delphi Automotive LLP
• Denso Corporation
• Fujitsu
• Infineon Technologies
• Next eXPerience
• Robert Bosch
• STMicroelectronics.
Note: The above list does not necessarily include all the top players in the market.
What Unique Insights Does This Report Offer?
This report provides comprehensive insights into the Automotive Radar Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com
400 Renaissance Center, Suite 2600,
Detroit, Michigan, MI 48243
United States of America
Website: www.stratviewresearch.com
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Call Us: +13133074176
Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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