Global Automotive Radar Market size was valued at US$ 4.59 Bn. in 2021 and the total revenue is expected to grow at 12.6 % through 2021 to 2029, Automotive Radar Market is reaching nearly US$ 11.87 Bn. by 2029.
Automotive Radar Market Overview:
A research team conducted extensive primary and secondary research for the Automotive Radar market study of the global market. In order to augment already-existing data, segment the market, calculate the overall market size, and project market size and growth rate, secondary research was conducted.
Market revenue is determined by primary and secondary research, and market leaders are recognised through these two methods. In-depth interviews with influential thought leaders and business leaders, including CEOs and marketing executives, were conducted as part of the main study.
As part of the primary research, extensive interviews with key opinion leaders and business leaders, including CEOs and marketing executives, were done. As part of the secondary research, the annual and financial reports of the major manufacturers were examined. Global market percentage splits, market shares, growth rates, and breakdowns are produced from secondary sources and validated against primary data.
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Market Scope:
The report contributes to a better knowledge of the global Automotive Radar market's dynamic structure by identifying and assessing market segments and estimating market size. The report also contains a comparison of key firms' pricing, financial standing, application growth objectives, and regional presence. To assist shareholders in prioritising their efforts and investments in the global Automotive Radar market, the study also contains a PESTLE analysis.
Decision-makers now have a clear picture of the future of the market thanks to the investigation of external and internal factors that are expected to either benefit or harm enterprises. Through the analysis of market segmentation and projections of market size, the study also contributes to an understanding of the dynamic structure of the global Automotive Radar market. The study is a resource for investors by giving a thorough representation of the competitive analysis of significant organizations in the Global Automotive Radar Market based on price, financial position, growth strategies, and geographic presence.
Automotive Radar Market Segment:
Long range, medium range, and short range are sub-segments of the market. The market for medium and short range radar is predicted to develop at the quickest rate in 2021. These radars are frequently used in automobile safety systems to detect nearby objects. Among the available features are blind spot detection, lane change assistance, and park assistance. The market is anticipated to be driven during the projected period by declining radar prices and a rising demand for using more than two radars per system for enhanced performance. The second-largest segment for long range radar is expected to increase over the forecast period due to the growing popularity of ACC in mid-priced vehicles because long range radars are extensively used in
The market is divided into two sub-segments based on vehicle type: commercial vehicles and passenger vehicles. The market for passenger vehicles is anticipated to expand more quickly than that for commercial vehicles. The main factor fueling the growth of this market is the rising level of vehicle safety consciousness among owners of mid-priced cars. Worldwide sales of passenger cars rose 4.5% in 2021 over 2022, according to OICA. In 2021, sales of top luxury car brands like Mercedes-Benz and BMW increased significantly, with 2.08 million and 2.3 million units sold, respectively. Because more passenger cars are being equipped with radar-based safety systems, the automotive radar market is expected to expand over the course of the projected period.
Automotive Radar Market Key players:
• Continental AG
• Robert Bosch GmbH
• Delphi Automotive PLC
• Denso Corporation
• Infineon Technologies AG
• NXP Semiconductors N.V.
• Valeo S.A.
• Analog Devices, Inc
• Hella KGaA Hueck & Co.
• Texas Instruments, Inc.
• Autoliv, Inc.
• ZF Friedrichshafen AG
• Aptiv plc
• Veoneer Inc.
• Nidec Elesys Corporation
• TungThih Electronic Co., Ltd
Regional Analysis:
The Automotive Radar Market is examined at the national level with a focus on nations with the largest market shares, categories with the potential for strong growth, and categories. The regional breakdowns in the Automotive Radar Market research include North America (USA, Canada), South America, Asia Pacific (China, Japan, India, Korea), Europe (Germany, UK, France, Italy), and Other nations.
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COVID-19 Impact Analysis on Automotive Radar Market: The report covers COVID-19 impact on Automotive Radar market.
Key Questions Answered in the Automotive Radar Market Report are:
- What will the CAGR of the Automotive Radar market be during the forecast period?
- In the Automotive Radar market, which market segment has become the market leader?
- Which companies dominate the Automotive Radar market?
- In 2029, how big will the Automotive Radar market be?
- Which company held the largest proportion of the Automotive Radar market?
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