The market growth is mainly driven by the growing focus on vehicle safety systems coupled with increasing vehicle production and sales, especially premium and luxury vehicles. Active government initiatives for increasing vehicle safety are expected to boost the market growth. Furthermore, with the decrease in radar prices, it has become possible for automakers to incorporate these safety systems in mid-priced vehicles. Thus, the market is expected to gain momentum in the coming years, driven mainly by the growing sales of mid-priced passenger cars.

Explore Research Report @ https://www.psmarketresearch.com/market-analysis/automotive-radar-market/report-sample

Based on range, the automotive radar market is categorized into long range radars, and medium and short-range radars. The fastest growth during the forecast period is expected from medium and short range radars. This category is also expected to hold the larger share in the market throughout the forecast period. This can be ascribed to the greater usage of medium and short-range radars in in numerous systems including cross traffic alert, park assist, and blind spot detection.

On the basis of vehicle type, the automotive radar market is categorized into passenger cars and commercial vehicles. Passenger cars have been the dominant vehicle type in terms of market size. High sales of passenger cars and increasing awareness regarding vehicle safety features among passenger car customers, are the major factors driving the growth of this category.

In terms of application, the automotive radar market is categorized into adaptive cruise control (ACC), forward collision warning system (FCW), autonomous emergency braking (AEB), blind spot detection (BSD), intelligent park assist (IPA), and others. The ACC application category is expected hold the largest share in the market, with more than 35% contribution in 2017. However, the fastest growth during the forecast period expected from the FCW category owing to its rapid penetration premium and mid-priced passenger cars.

Europe is estimated to hold the largest share in the automotive radar market, with more than 30.0% revenue contribution in 2017.

North America is estimated to be the second largest regional market for automotive radar. The automotive radar market in the region is mainly influenced by rising commercial vehicles sales and regulatory developments, such as making automatic emergency braking as a standard feature for all vehicles by 2022.

Asia-Pacific is expected to be the fastest growing automotive radar market during the forecast period, owing to the growing installation of advanced safety features in passenger cars and increasing vehicle sales.

The key players in the automotive radar industry are Continental AG, Denso Corporation, Robert Bosch GmbH, Infineon Technologies AG, Valeo SA, NXP Semiconductors N.V., HELLA KGaA Hueck & Co., Texas Instruments Incorporated, Autoliv Inc., and ZF Friedrichshafen AG.

CONTACT:

P&S Market Research
347, 5th Ave. #1402
New York City, NY - 10016
Toll-free: +1-888-778-7886 (USA/Canada)
Email: [email protected]
Web: https://www.psmarketresearch.com