Automotive Radar Industry Size is anticipated to reach $8.9 billion by 2024, registering a CAGR of 18.7% over 2016-2024: Fractovia. Org

““Germany automotive radar market size was valued is forecast to exceed USD 500 million by 2024. Existence of major automobile manufactures in the region will drive growth prospect. Key automotive radar market players are NXP, Infineon, and STM. Other majo”
“Automotive Radar Market Size By Application (Adaptive Cruise Control (ACC), Blind Spot Detection (BSD), Lane Departure Warning System (LDWS), Parking Assistance (PA), Forward Collision Warning System (FCWS)), Industry Analysis Report, Regional Outlook (U.S., Germany, France, China, Japan, Brazil), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024.”

Rising safety concerns among consumers coupled with favorable government policies mandating the inclusion of safety & control systems in vehicles to minimize road accidents & casualties is projected to propel the automotive radar market size over the coming years. According to Global Market Insights, Inc., “Automotive Radar Industry Size worth USD 1.9 billion in 2015, is anticipated to reach USD 8.9 billion by 2024, registering a CAGR of 18.7% over 2016-2024.” According to Association for Safe International Road Travel (ASIRT), nearly 1.3 million people die in fatal road accidents each year. Prevention of such fatal road accidents has become a main cause of public concern across the globe. Use of ADAS (advanced driver assistance systems) in passenger cars, which help in providing car safety as well as road safety, is expected to provide significant growth avenues for the automotive radar industry. 

Download sample copy of this report @ https://www.fractovia.org/request-sample/225

As per Insurance Institute for Highway Safety, one in every three fatal accidents can be avoided if collision avoidance systems such as automotive radars are installed in passenger vehicles. Automotive radar provides safety features such as lane departure warning, forward collision warning alerts, collision detection, automatic emergency braking system, adaptive cruise control, blind spot detection, rear-cross traffic alerts, parking assistance, side-view assistance, etc. Growing awareness among the consumers about these safety features is anticipated to boost the demand for automotive radars over the coming eight years.

Automotive radar market in adaptive cruise control systems industry accounted for over 36% of the overall revenue in 2015, and is expected to register a CAGR of 17.7% over 2016-2024. The growth can be credited to its ability to monitor and maintain user-specified distance between the automobiles. Its application in blind spot detection systems industry is expected to grow at a rate of 19.1% over the coming eight years. It makes the driver alert when another vehicle enters blind spot and provides more time for drivers to avoid collisions with the obstacles that are not clearly visible in the rear-view mirror. 

Asia Pacific automotive radar market size is predicted to witness a substantial growth over the coming years due to high automobile production and sales. China, which accounted for over 45% of the overall revenue in 2015, is expected to contribute significantly towards the regional share over the coming years. Europe automotive radar market share is expected to witness significant gains of 17.5% over the coming eight years. The growth can be credited to presence of key automotive industries in the region. Germany market revenue is projected to surpass USD 500 million by 2024. 

Browse key industry insights spread across 88 pages with 44 market data tables & 28 figures & charts from the report, “Automotive Radar Market Size By Application (Adaptive Cruise Control (ACC), Blind Spot Detection (BSD), Lane Departure Warning System (LDWS), Parking Assistance (PA), Forward Collision Warning System (FCWS)), Industry Analysis Report, Regional Outlook (U.S., Germany, France, China, Japan, Brazil), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:

https://www.fractovia.org/news/industry-research-report/automotive-radar-market

Key industry participants include Texas Instruments, Denso Corporation, Delphi Automotive, Infineon Technologies, TRW Automotive Company, Bosch Automotive Steering Private Limited, Fujitsu Limited, and Continental Corporation. The automotive radar market is characterized by frequent mergers & acquisitions as well as growth of next generation technology. Suppliers are focusing on developing cost-effective systems for mass-market automobiles, which can further catalyze industry growth.

Browse Related Report

  • Automotive Sunroof Market Size By Product (Glass [Pop-up, Inbuilt, Spoiler/Tilt & Slide, Top Mount, Panoramic], Fabric [Foldable, Removable]), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2015 – 2022

https://www.fractovia.org/news/industry-research-report/automotive-sunroof-market

About Fractovia

Fractovia.org is one of India’s leading in-house and free news portal. It is fully automated, and operates on a constant premise, interfacing with news sites and offering redesigned breaking features to readers across the globe.

Our mission is to offer individuals opportunities for connections with news writers and distributors which they can pursue.

We operate by mapping articles pertaining to breaking news, constantly and progressively, against a pre-determined word-based theme, offering important connections to readers and clients, as well as distributers.

Fractovia
29L Atlantic Avenue,
Suite L 105, Ocean View,
Delaware 19970
United States
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@fractovia.org

Media Contact
Company Name: Fractovia.org
Contact Person: Arun Hegde
Email: sales@fractovia.org
Phone: 1-888-689-0688
Address:29L Atlantic Avenue, Suite L 105
City: Ocean View
State: Delaware
Country: United States
Website: https://www.fractovia.org/news/industry-research-report/automotive-radar-market