The market research report “Automotive Radar Market 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), Growth Potential, Competitive Market Share & Forecast, 2016 – 2024” by Global Market Insights, Inc. says – Automotive Radar Market size is expected to reach USD 8.98 billion by 2024.
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.
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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.The product owing to its strong reducing power and chemically inert nature is utilized in linoleum flooring, printing ink, paint & coatings, paper & pulp, leather, rubber, and plastics industries. Increasing industrial activities to meet the growing demand of consumer goods will fortify product 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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The shift towards self-driving cars could significantly boost revenue as more sensors and data processing devices are required to make autonomous decisions. According to a 2014 UN Road Safety Collaboration study, 90% of traffic incidents are caused by human error. Autonomous vehicles with intelligent sensors can help overcome the problem.
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), Growth Potential, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/automotive-radar-market
The Automotive Radar Market research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in tons and revenue in USD from 2013 to 2024, for the following segments:
o Automotive Radar Application Analysis (Revenue, USD Million, 2013 – 2024)
o Adaptive Cruise Control (ACC)
o Blind Spot Detection (BSD)
o Lane Departure Warning System (LDWS)
o Parking Assistance (PA)
o Forward Collision Warning System (FCWS)
o Automotive Radar Regional Analysis (Revenue, USD Million, 2013 – 2024)
o North America
- U.S.
o Europe
- Germany
- France
o Asia Pacific
- China
- Japan
o Latin America
- Brazil
o MEA
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.
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