Automotive Radar Market to Witness Huge Growth during 2018 – 2026 by Analysis of Leading Players
2017, Europe accounted for the highest share in the Automotive Radar Market. Established automotive industry, technological advancements, and high investment in R&D are factors expected to drive the market growth in the region. The introduction of stringent government regulations for vehicular and road safety accelerates the adoption of automotive radars. Asia-pacific is expected to grow at the highest CAGR during the forecast period. This is due to economic growth in countries such as China and India, leading to rising living standards and high disposable income. Expansion of global players into these countries to tap market potential boosts the market growth.
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Automotive radars use 76 GHz to 81 GHz technology platform for easier development and use of individual sensors for multiple purposes. Use of wider bandwidth provides higher resolution and enhanced object recognition. The 79 GHz project founded by the European Commission aims to speed up global agreement to use the 79 GHz band for vehicular radars. The Russian Federation, Ukraine, Turkey and the Balkan region have approved the use of the 79 GHz band for automotive high-resolution short-range radars.
Automotive Radar Market is anticipated to reach $15,658.6 million by 2026 according to a new research published by Polaris Market Research. In 2017, the adaptive cruise control application dominated the global market, in terms of revenue. In 2017, Europe accounted for the majority share in the global market.
The well-known companies profiled in Automotive Radar Market report include: -
- Delphi Automotive PLC
- Denso Corporation
- Continental AG
- Infineon Technologies AG
- Analog Devices Inc
- ZF Friedrichshafen AG
- Robert Bosch GmbH
- NXP Semiconductors
- Texas Instruments Incorporated
- Autoliv Inc.
- Hella KGaA Hueck & Co
These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
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The expanding global automotive industry, along with increasing popularity of autonomous vehicles majorly drives the Automotive Radar Market growth. Higher frequency radar systems are being used in vehicles owing to their improved performance, increased reliability, and higher accuracy. The adoption of automotive radar systems has increased significantly owing to increasing road traffic, growing incidences of road accidents, and growing need to improve road safety. Other factors driving the market growth include growing disposable income, technological advancements, and changing lifestyles. New emerging markets, emerging consumer demographics, and stringent government regulations would provide growth opportunities for market in the coming years.
TOC of Automotive Radar Market:
Chapter 1. Overview and Scope
Chapter 2. Market Summary
Chapter 3 Automotive Radar Market Size and Forecast
Chapter 4. Dynamics and Segmentation
Chapter 5. Detailed Insight on Key Company
Chapter 6. Research Methodology and Reference
Chapter 7. Competitive Landscape
TOC Continued…...!!!!!
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on Wednesday November 14 2018, 9:26 AM EST.
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