Automotive Radar Market is Expected to Reach US$ 4.9 Billion by 2026; Innovation Towards Driverless Vehicles to Bolster Demand in Market, States TMR

News provided by

Jan 14, 2019, 08:00 ET

ALBANY, New York, January 14, 2019 /PRNewswire/ --

The global automotive radar market is signified by the presence of various key players in the market for example, such as, Baumer, Autoliv Inc., Magna International Inc., Robert Bosch GmbH, GM Cruise LLC., Continental AG, ZF Friedrichshafen AG, Mando Corp., InnoSenT GmbH, and Denso Corporation.

(Logo: https://mma.prnewswire.com/media/664869/Transparency_Market_Research_Logo.jpg )

Recently, a well-known research firm, Transparency Market Research analyzed the market of automotive radar and estimated that the market is likely to grow at a decent pace with a significant CAGR of 19.5% within the forecast period from 2017 to 2026. By the end of the forecast period, the global automotive radar market is expected to reach around a worth of US$ 4.9 bn.

Get PDF Brochure for Research Insights at: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=27473

On the basis of range type, the medium range radar and the long range radar segments account for the revenue of over four fifth of the entire automotive radar market, in 2017. Among these, the long range segment is foreseen to experience a reduction in share in span of coming years. However, the medium radar segment seems to gain more share and revenue in the coming years of forecast period. On the basis of region, the global automotive radar market is classified into Europe, Asia Pacific, Latin America, Japan, North America, and the Middle East and Africa. Among these, the Europe region is estimated to lead the global automotive radar market within the forecast period from 2017 to 2025.

Increasing Number of Vehicles in Developing Countries to Augment Growth

Automotive radars are meant to hold a key role in the identification of items in a wide range of security frameworks like automated emergency braking, blind spot detection, adaptive cruise control, and pedestrian detection. A move towards the advanced innovation of driverless vehicles is assessed to offer favorable position to the global market for automotive radar as radars assume an exceptionally substantial role really taking shape of an automotive which is completely self-ruling. Moreover, an accentuation on advancement, flooding sales of vehicles in the developing economies in the globe, and an attention on the healthcare and security are setting off the development of the world market for the automotive radar.

Request a Sample of Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=27473

Automotive safety rules which fuels and accelerates the usage of technologically advanced security system over the globe is depended upon in order to fuel the demand for automotive radar. Proper macro-economic situation, for example, improved consumer confidence index, growth in urban population, surge in disposable income, and better scope of employment in developed and developing regions, for instance, Germany, India, South Korea, France, the U.S., China, and Canada, are evaluated to contribute towards the significant development of the mentioned market.

Demand for Advanced Features in Vehicles to Propel Demand in Future

Moreover, surging requirements for different advanced features, for example, cruise control is foreseen to result in an upsurge in the demand for automotive radars which thus is propelling the world market for automotive radar. Consistent improvements in the plan and working have resulted to be invaluable for the global market for automotive radar too.

Request For Discount On This Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=27473

The review is based on the findings of a report by Transparency Market Research, titled "Automotive Radar Market - (Range Type- Long Range, Medium Range, Short Range; Sales Channel - OEM, Aftermarket; Application Type - Adaptive Cruise Control, Autonomous Emergency Brake, Autonomous Park Assist, Blind Spot Information, Other Applications) - Global Industry Analysis, Size, Growth, Trends, Share and Forecast 2017 - 2026."

Browse Research Release at https://www.transparencymarketresearch.com/pressrelease/automotive-radar-market.htm

The Global Automotive Radar Market Taxonomy as presented below:

Region

North America
Latin America
Europe
Japan
APEJ
MEA

Range Type

Long Range
Medium Range
Short Range

Sales Channel

OEM
Aftermarket

Application Type

Adaptive Cruise Control
Autonomous Emergency Brake
Autonomous Park Assist
Blind Spot Information
Other Applications

Browse More Automotive & Transport Market Research Reports

Popular Research Reports by TMR:

Automotive Blind Spot Detection Market - https://www.transparencymarketresearch.com/automotive-blind-spot-detection-systems-market.html
Automotive Telematics Market - https://www.transparencymarketresearch.com/automotive-telematics-market.html
Folding Bikes Market - https://www.transparencymarketresearch.com/folding-bikes-market.html

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

Contact

Mr. Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: [email protected]