This Global Automotive Radar market report studies the industry based on one or more segments covering key players, types, applications, products, technology, end-users, and regions for historical data as well as provides forecasts for next few years.
Selbyville, DE -- (SBWIRE) -- 12/05/2018 -- Market Study Report adds 2024 Global Automotive Radar market research of 88 pages supported with 44 data tables and 28 figures profiling 14 leading Automotive Radar industry companies. Favorable government initiatives that mandate the incorporation of safety and control systems into automobiles to reduce the number of road accidents and related casualties will drive demand.
The U.S. FMCSA (Federal Motor Carrier Safety Administration) has collaborated with the truck industry for testing and evaluating the use of on-board safety systems in order to reduce the severity and number of commercial motor vehicle crashes. Innovation in image sensing technology and falling prices of cameras are driving the adoption of camera-based sensors worldwide.
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Key automotive radar market players are NXP, Infineon, and STM. Other major players in the industry include Valeo, ZF TRW Automotive, Texas Instruments, Hella, Robert Bosch, Fujitsu, Delphi Automotive, Denso, Autoliv, and Continental.
Automotive Radar Market size is expected to reach USD 8.98 billion by 2024; according to a new research report.
Favorable government initiatives that mandate the incorporation of safety and control systems into automobiles to reduce the number of road accidents and related casualties will drive demand. Growing sales of motor vehicles, especially luxury cars have significantly spurred revenue growth. Economic factors such as low interest rates and rise in disposable income have positively contributed towards increase in auto sales. Introduction of advanced driver assistance systems (ADAS) in passenger cars could offer significant growth opportunity for the automotive radar market size.
High frequency radar systems in the 79GHz band tend to perform better than the standard 24 GHz and 76 GHz bands as they offer greater capability and reduces device size. Sensing technologies enable lane keeping, driver assistance and forward collision warning alerts. Additionally, they constitute for advanced systems such as automatic emergency braking. The automotive radar market share is characterized by outsourcing of manufacturing process to low-cost countries to leverage low labor costs.
BSD (blind spot detection) system generates alert signals whenever other vehicle arrives into the blind region providing more time for drivers to react against obstacles that are not clearly visible in the rearview mirror.
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China accounted for more than 45% of the overall Asia Pacific automotive radar market share in 2015. Growth across the region can be dedicated to potential automotive sales as well as production through 2024.
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 prospects.
Sensor manufacturers establish relationships with several wafer foundries, test and assembly subcontractors to enhance cost effectiveness and provide flexibility in meeting the manufacturing needs.
Table of Content:
Chapter 1 Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Automotive Radar Industry Insights
Chapter 4 Automotive Radar Application Insights
Chapter 5 Automotive Radar Regional Insights
Chapter 6 Company Profiles
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