Exactitude Consultancy Press Release 2023: Global automotive RADAR market

Rising passenger safety concerns to drive automotive radar industry growth.

The global Automotive Radar industry is being driven by growing safety concerns among vehicle drivers and passengers as a result of an increase in accidents and traffic congestion. Another major factor driving the market is the significant investment made by major car manufacturers in automobile upgrades to improve the safety of commercial and passenger vehicles. However, some countries consider the use of RADAR detectors to be illegal. However, this restraint is likely to be hampered by favourable government regulations in emerging economies, which are expected to propel market growth. Furthermore, the military’s increasing use of automotive radars to improve the safety of armoured vehicles is expected to drive product demand during the forecast period.

The medium range held the largest share, with the long range promising significant market opportunities.

In 2021, medium-range radar had the largest market share, and a significant increase in this segment is expected over the forecast period. These systems include safety systems that provide a variety of features such as park assist, cross-traffic alert, and lane change assist, among others. The dominance of this market sector can be attributed to a variety of factors, including cost reductions and an increased need to improve functionality by using more than two radars. Long-range radars, on the other hand, are most commonly used in adaptive cruise control (ACC). As a result, the increased acceptance of ACC features in small and economical vehicles is expected to drive the growth of this category.

Explore 186 market data Tables spread through nearly 123 Pages and in-depth analysis on “Automotive RADAR Market by Vehicle Type (Passenger Car, Commercial Vehicles) Range (Long Range Radar (LRR), Short & Medium Range Radar (S&MRR)) Frequency (24 GHZ, 77 GHZ, 79GHZ) Dimension (2D, 3D, 4D) Technology (Millimeter Wave Radar, Ultrasonic Radar, Lidar (Light Detection and Ranging), Camera) Application (Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Blind Spot Detection (BSD), Forward Collision Warning System, Intelligent Park Assist, Other ADAS Applications) and by Region Global Trends and Forecast from 2023 to 2029” With Table of Content – Click here

The rise in demand for comfortable driving fuels the expansion of the automotive radar market.

Consumers prefer to be comfortable while driving. Manufacturers are introducing safety features such as adaptive cruise control and parking aid systems that use automotive radars in high-end vehicles to provide greater comfort to drivers. The driver, however, has the ability to override the system at any time. Other systems, such as a night vision system and others, that assist the driver with lateral vehicle control are in continuous development. Automotive radar is used in these systems to detect the vehicle’s surroundings with high accuracy and precision. Furthermore, the demand for driver assistance applications has increased significantly in recent years due to an increase in consumer purchasing power, which has influenced consumers to shift to more comfortable driving experiences.

Global pandemic has been a factor that has affected the growth of the market

The COVID-19 pandemic wreaked havoc on the automotive industry. It had an immediate effect on the global unified automotive industry. Indications include a halt in the export of Chinese automotive parts, massive manufacturing disruptions across Europe, and the closure of assembly plants in the United States. This is putting extreme strain on an industry that is already dealing with a drop in global demand. This had an impact on the revenue streams allocated to R&D and the adoption of new technologies such as automotive radar. However, with rising vaccination rates around the world, the pandemic’s impact on the automotive industry is expected to fade gradually. Following the pandemic, demand for automotive radar-based solutions is expected to increase significantly because they provide superior vehicle safety and comfort.

The presence of large industry players carrying out strategic initiatives will drive market share.

The major players operating in the global Automotive RADAR industry include Lyckeby, Cargill Inc., BASF, DowDuPont, Lanxess Aktiengesellschaft, Mitsui Chemicals, Shell International, Covestro, Stepan Company, Sweetener Products Company, SPI Polyols, Inc., Roquette America Inc., Tereos Starch & Sweeteners, Archer Daniels Midland, Tongaat Hulett Starch, and Ingredion, Grain Processing Corporation, Tate & Lyle and others. Mergers and acquisitions, joint ventures, capacity expansions, significant distribution, and branding decisions by established industry players to improve market share and regional presence. They are also engaged in ongoing R&D activities to develop new products and are focused on expanding the product portfolio. This is expected to increase competition and pose a threat to new entrants into the market.

North America contributing to the growth of the automotive radar market.

North America is expected to have a 34% market share in 2021. Factors such as high demand for hybrid vehicles and tightening vehicle safety regulations will drive the region’s market growth. Furthermore, local authorities have made vehicle safety regulation norms more stringent, boosting sales of automotive radars in the North American region. The other regions, South America, the Middle East, and Africa, are expected to see strong growth for automotive radars due to stringent local road and vehicle safety norms and a strong shift toward autonomous and semi-autonomous vehicle in the region.

Automotive RADAR Market Players

The major players operating in the global augmented reality industry include Robert Bosch GmbH, ZF Friedrichshafen AG, Autoliv Inc., Mando Corp., Denso Corporation, Continental AG, Magna International Inc., GM Cruise LLC., InnoSenT GmbH, Baumer, Valeo SA, Aptiv, NXP Semiconductors, Texas Instruments Incorporated, Infineon Technologies AG, Hella Gmbh, Veoneer Inc, Borgwarner Inc, Aisin Corporation, Analog Devices Inc, Delphi Automotive PLC. The presence of established industry players and is characterized by mergers and acquisitions, joint ventures, capacity expansions, substantial distribution, and branding decisions to improve market share and regional presence. This is expected to intensify competition and pose a potential threat to the new players entering the market.

Key Market Segments: Automotive RADAR Market

Automotive Radar Market By Vehicle Type, 2022-2029, (Usd Billion)

• Passenger Car
• Commercial Vehicles

Automotive Radar Market By Range, 2022-2029, (Usd Billion)

• Long Range Radar (Lrr)
• Short & Medium Range Radar (S&Mrr)

Automotive Radar Market By Frequency, 2022-2029, (Usd Billion)

• 24 Ghz
• 77 Ghz
• 79 Ghz

Automotive Radar Market By Dimension, 2022-2029, (Usd Billion)

• 2d
• 3d
• 4d

Automotive Radar Market By Technology, 2022-2029, (Usd Billion)

• Millimeter Wave Radar
• Ultrasonic Radar
• Lidar (Light Detection And Ranging)
• Camera

Automotive Radar Market By Application, 2022-2029, (Usd Billion)

• Adaptive Cruise Control (Acc)
• Autonomous Emergency Braking (Aeb)
• Blind Spot Detection (Bsd)
• Forward Collision Warning System
• Intelligent Park Assist
• Other Adas Applications

Automotive Radar Market By Regions, 2022-2029, (Usd Billion)

• North America
• Europe
• Asia Pacific
• South America
• Middle East And Africa

Important Countries In All Regions Are Covered

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