Automotive Radar Sensors Market Size 2020 - Overview

Posted by sagark on March 13th, 2020

Automotive Radar Sensors Market Size – Overview

As per a detailed analysis by Market Research Future, the global Automotive Radar Sensors Market Size is estimated to garner a CAGR of 19.26% during the forecast period (2017-2023). Radar sensors extensively use Frequency Modulated Continuous Wave (FMCW) radar in order to detect stationary or moving objects. They are generally used for collision avoidance and other technology-driven safety features and are also used to detect distance and speed of the vehicle to prevent accidents. The use of radar sensors will help to minimize road accidents, thereby increasing driver safety.

The need to reduce road accidents is one of the primary factors motivating the Automotive Radar Sensors Market Size. The improvement in sensors in terms of its electrification and mobility is further boosting the Automotive Radar Sensors Market Size. Furthermore, the elevated production of passenger and commercial vehicles is anticipated to further reinforce the growth of the Automotive Radar Sensors Market Size in the upcoming forecast period.

Key Players

The important companies in the Automotive Radar Sensors Market Size are HELLA KGaA (Germany), Continental AG (Germany), Denso Corporation (Japan), ZF Friedrichshafen AG (Germany), Robert Bosch GmbH (Germany), Autoliv Inc. (Sweden), Valeo S.A (France), Infineon Technologies AG (Germany), NXP Semiconductors N.V (Netherlands), Texas Instruments Incorporated. (U.S.). First Sensor AG (Germany), Kestrel Radar Sensors (England), InnoSenT - Innovative Radar Sensor Technology (Germany), and FUJITSU TEN Ltd. (Japan) are among others.

Segmental Analysis

The study of the segmentation in the Automotive Radar Sensors Market Size is carried out on the basis of application, range, region, and vehicle type. Based on the application, the Automotive Radar Sensors Market Size is segmented into adaptive cruise control (ACC), lane change assist (LCA), blind spot detection (BSD), forward collision warning system (FCWS), autonomous emergency braking (AEB), and others. Based on the range, the Automotive Radar Sensors Market Size is segmented into medium range, short range, and long range. The short-range radar sensors segment is anticipated to direct the growth of the Automotive Radar Sensors Market Size in future owing to the extensive use of those sensors in adaptive cruise control systems. Based on vehicle type, the Automotive Radar Sensors Market Size comprises of passenger and commercial cars. On the basis of regions, the Automotive Radar Sensors Market Size comprises of Asia Pacific, Europe, North America, and Rest of the World.

Regional Analysis   

The regional assessment of the Automotive Radar Sensors Market Size is segmented into Asia Pacific, Europe, North America, and Rest of the World. As per the analysis, the North American region is anticipated to be responsible for the principal market share throughout the forecast period. The development of the augmented safety feature systems in the vehicles is anticipated to raise the demand for radar sensors. The upsurge in demand for radar sensors is projected to push the Automotive Radar Sensors Market Size in this region. The European region is anticipated to be the next principal market owing to the upsurge in manufacture of passenger and commercial vehicles.

Competitive Analysis

The financial inflows in the market are being engrossed towards increasing the discoveries in the essential product offering offered in the market so that the growth doesn’t go off in the forthcoming period. The market has attained a progressive stride in the past few years, which is underlined by the activities in terms of valuation. The upsurge of sponsors in the market has acquired an indispensable role in the development of the market. The decrease in the barriers to trade is projected to encompass advanced areas for expansion in the impending years. The extension of the resources vital to endure against competition has improved extensively leading to a record development rate. The purpose of appropriately bolstering the global economy is being motivated through the expansion of this market as well. The market is well-armed to find the way through the shifting tides, abrupt upheavals, and uncharted waters in the international economy.

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