Automotive Radar Market - Size, Share, Outlook, and Opportunity Analysis, 2018-2Posted by Apeksha on August 23rd, 2018 Automotive radars are used for detecting objects on the road and sensing distances between vehicles in real-time. These radars help enhance driving efficiency and road safety. Automotive radars contain a receiver and transmitter, and is used for sending and receiving waves for detecting the distance, speed, and directions of objects. Collision detection, warning and mitigation, collision avoidance, blind spot monitoring and detection, lane change assistance, lane departure warning system, rear cross-traffic alerts, and vulnerable road user detection are some of the applications of automotive radar systems. Request For Sample Copy of this Research Report : https://www.coherentmarketinsights.com/insight/request-sample/1843 Increasing concern regarding safety is one of the major factors driving growth of the automotive radar market. High cost of automotive radars is one of the major factors restraining growth of the market For instance, according to the Coherent Market Insights, in 2017, the costs for 24GHz, 77GHz, and 79GHz automotive millimetre-wave radar sensor modules were around US$ 50, US$ 150-220, and US$ 100-200, respectively. The cost of radars vary based on the range of detection, namely short range, medium range, and long range. Automakers thus refrain from using radar sensors in their vehicles, as it increases the overall cost of the vehicle, which negatively impacts sales and overall revenue. This in turn, is hampering growth of the market for automotive radars. Global Automotive Radar Market: Regional Insights The market for automotive radar in Europe accounted for the largest share in 2017 and is expected to retain its dominance over the forecast period (2018 – 2026). This growth is attributed to increasing stringency of vehicle safety norms for both active and passive safety standards on vehicles, by the European Commission (EC). For instance, the European commission set up General Safety Regulation (EC 661/2009), which mandates the use of electrical safety, electronic stability control, advanced emergency braking, tyre pressure monitoring, driver safety-belt reminder for trucks and buses. This, in turn, is expected to increase the installation of safety systems in vehicles, which is further expected to propel growth of the automotive radar market in Europe. Major players are adopting product development strategies for strengthening their foothold in the market. For instance, in 2017, DENSO Corporation developed 24-GHz submillimeter-wave rear and side radar sensor to help enhance vehicle safety systems. This sensor is part of the automotive system, which helps drivers identify and navigate around other vehicles when changing lanes or reversing out of a parking space, and controls the autonomous emergency braking function to avoid imminent collisions. Thus, in turn, is expected to offers Denso Corporation a competitive edge in the global market. For More Information: https://www.coherentmarketinsights.com/ongoing-insight/automotive-radar-market-1843 About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity. Contact Us: Mr. Shah Like it? Share it!More by this author |