Global Automotive Radar Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

MarketResearch.biz delivers in-depth insights on the global forage seeds market in its upcoming report titled, “Global Automotive Radar Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027”. The global automotive radar market is estimated to register a CAGR of XX.X% in terms of value during forecast period 2017–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global automotive radar market report has been segmented on the basis of product application, range, vehicle type and region.

Radar system uses radio waves to determine the range, angle, or velocity of objects. Automotive radar system insures the safety of driver, passengers as well as pedestrian. It is used to detect objects, road monitoring, parking assistance and works as collision warning and mitigation system. Automotive radar increases accuracy to measure exact distance between vehicles to avoid collision. It helps to determine the distance between vehicles in real-time, and also collision detection, warning and mitigation, collision avoidance, blind spot monitoring / blind spot detection, lane change assistance, lane departure warning, rear cross-traffic alerts, and vulnerable road user detection. These features and functions help to improve driving efficiency and ensure driver and occupant safety.

The major driving factor of the global automotive radar market is safety. It includes safety of driver, traveling passengers, and pedestrians. Development of advanced technologies is also a major factor driving market growth. Currently, advanced vehicles have features such as cameras and ultrasound, sensors that obtain and process information, resulting in better and quicker decision making for the driver. Compared to other technologies, radar is most efficient, even in harsh weather conditions. In addition, rising preference among customers for features such as blind-spot detection, lane-change assist, and front/rear cross-traffic alert, autonomous emergency braking, and adaptive cruise control has led to increasing production of radar-sensor systems.

However, vulnerability, oversensitivity, limited sensing range, and external interference are some factors impacting market growth to a certain extent currently. Automotive radar is vulnerable to certain atmospheric and meteorological phenomenon. Radar signals/waves need to bounce off objects or vehicles on the road, and presence of high moisture, rain or ice can affect its efficiency. At times, presence of electrical towers or electromagnetic hotspots can cause interference with the signal, thereby resulting in malfunction. However, automotive radar systems are comparatively cheaper, reliable, and have advantages related to vehicle navigation and safety.

The market in North America is projected to dominate the global automotive radar market in terms of revenue over the forecast period. Countries in this region are subject to stringent safety regulations, which is a primary factor resulting in it being the largest market for automotive radar systems in 2016. This is expected to result in increasing demand for automotive radar systems in future. The market in North America, is followed by markets in Asia Pacific, Europe, Latin America, and Middle East & Africa.

Global Automotive Radar Market Segmentation:

Segmentation by product application type:

• Adaptive Cruise Control (ACC)
• Autonomous Emergency Braking (AEB)
• Blind Spot Detection (BSD)
• Forward Collision Warning System (FCWS)
• Intelligent Parking Assistance (IPA)
• Others

Segmentation by range:

• 2X-GHz
• 7X-GHz

Segmentation by vehicle type:

• Commercial Vehicle
• Economic Passenger Vehicle
• Luxury Passenger Vehicle
• Mid-Priced Passenger Vehicle

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa