Mar 29, 2021, 09:30 ET
NEW YORK, March 29, 2021 /PRNewswire/ -- Automotive radar technology is outpacing the automotive sensing technology owing to its phenomenal efficiency and functionality with challenging road infrastructure, projects the latest study by Fact.MR. With advancement in technology, the manufacturers are promising automotive radar with endless possibilities to deliver consistent performance.
According to the study, the market is expected to reach around US$ 7260.8 Mn by 2022-end registering a steady CAGR during the forecast period. Incorporating 4D imaging technology in autonomous vehicles to bring a paradigm shift in the automotive radar market. Additionally, increasing demand of autonomous electric vehicles and rising production of level 3 autonomous cars to boost the market growth in the upcoming years.
"Penetration of 4D technology and Artificial Intelligence is gaining attractive opportunities for prosperous launch and production of new generation radar platform among manufacturers," says a Fact.MR analyst.
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- India and China to create lucrative growth opportunities for automotive radar manufacturers
- Short-range radars projected to generate revenue of around US$ 3.5 Bn by 2022-end
- By vehicle type, passenger vehicle to remain the lucrative category
- Application for adaptive cruise control to remain lucrative during forecast period
- By frequency, automotive radar with 2x GHz to be at forefront, however automotive radars with 7x GHz frequency to exceed by 2022-end
- U.S and Canada expected to emerge as potential market
- Rising government initiatives for vehicle safety and increased usage of ADAS technology by OEMs to drive the growth
- Increased investment & funding towards autonomous cars to bolster the demand
- Low penetration in developing market creates attractive opportunities for automotive radar manufacturers
- Radar detector ban in some countries such as Australia, Brazil, France, Germany and few others is likely to hinder growth
- Electromagnetic jamming and threat of security is restraining the growth of the market
Discover more about the Automotive Radar market with 89 figures and 28 data tables, along with the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/23/automotive-radar-market
Continental AG, Robert Bosch GmbH, Infineon Technologies AG, ZF Friedrichshafen AG, Delphi Automotive PLC., Denso Corporation, Hella KGaA Hueck & Co., Autoliv Inc., NXP Semiconductors, and Texas Instruments Incorporated are some prominent Automotive Radar manufacturers profiled in Fact.MR's report.
Infineon Technologies AG, in July 2020, launched its first Infineon's AURIX™, first embedded safety controller worldwide to be ASIL-D certified according to ISO 26262:2018. The company launched its first fully functional safe electrical and electronic car systems with radar detection technology and high safety controllers.
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More Valuable Insights on Automotive Radar Market
Fact.MR, in its new offering, offers a detailed segmentation on the global Automotive Radar market. The study divulges essential insights on the automotive radar market on the basis of range (long range, mid-range and short range), sales channel (OEM and aftermarket), application (adaptive cruise control, autonomous emergency brake, autonomous park assist, blind spot information, and other applications), and key region (North America, Latin America, Europe, Japan, Asia Pacific excluding Japan, and MEA).
Key Questions Covered in the Report
- What will be the market outlook for the global Automotive Radar manufacturers?
- What are the latest industry application for automotive radar market?
- Which region is likely to be a lucrative market during the forecast period?
- What are the major advancements witnessed in the global automotive radar market?
- Which are the major development likely to witness by manufacturers?
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