Automotive Radar Sensors Market size to grow by USD 5.63 billion from 2022 to 2027 | Market is fragmented due to the presence of prominent companies like Acconeer AB, AISIN CORP. and Arbe Robotics Ltd, many more- Technavio
NEW YORK, Sept. 27, 2023 /PRNewswire/ -- The Automotive Radar Sensors Market is estimated to grow by USD 5.63 billion, accelerating at a CAGR of 14%, during the forecast period. The automotive radar sensors market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer automotive radar sensors market are Acconeer AB, AISIN CORP., Arbe Robotics Ltd, AU Inc, Autoliv Inc., Bosch Mobility Solutions, Banner Engineering Corp., Continental AG, DENSO Corp., Eravant, Faurecia SE, Infineon Technologies AG, MediaTek Inc., NXP Semiconductors NV, Renesas Electronics Corp., Rohde and Schwarz GmbH and Co. KG, S.m.s Smart Microwave Sensors GmbH, Texas Instruments Inc., Tsien UK Ltd, and Vayyar Imaging Ltd. The report provides a full list of key companies, their strategies, and the latest developments. Download Free Sample before buying
Automotive Radar Sensors Market 2023 – 2027: Company Offering:
Acconeer AB: The company offers automotive radar sensors such as 4D UHD Sensor for front and rear, and UMRR 11 TRURGD Premium Line of traffic sensors.
- For details on companies and their offerings – Buy report!
Automotive Radar Sensors Market 2023 – 2027: Geographical Offering:
By Geography, the market is classified into Europe, North America, APAC, South America, and Middle East and Africa.
Europe is set to contribute significantly to global market growth (31%) during the forecast period. This is driven by the increasing adoption of ADAS, stricter safety standards, and EU mandates for emergency braking systems in new cars. Key players include Continental AG, Robert Bosch GmbH, and Valeo SA, focusing on radar-based solutions. The demand for powerful radar sensors is also rising with the interest in Level 3 autonomous driving, fueling market growth in Europe.
Download free sample report to get more insights on the market share of various regions and contribution of the segments.
Automotive Radar Sensors Market 2023 – 2027: Market Dynamics:
- Impactful driver- One of the primary drivers for the expansion of the automotive radar sensors market is the support of government policies that endorse the adoption of radar sensors. The substantial factor that is boosting the global automotive radar sensors market is the presence of favorable legislation that promotes the utilization of safety systems based on radar technology. Consequently, international agreements aimed at promoting the radar frequency range are exerting a positive influence on the market's growth trajectory.
- Key Trend - Increased accuracy in perceiving the environment through sensor fusion technique
- Major Challenges - Reducing the price of LIDAR
Automotive Radar Sensors Market 2023 – 2027: Market Segmentation:
The automotive radar sensors market report extensively covers market segmented by application (FCW, AEBS, ACC, and BCD and others), type (medium-range, long-range, and short-range)
Technavio Research experts has provided more insights on the market share of segments - View Sample Report
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Related Reports:
Radar Sensors Market: The radar sensors market share is expected to increase to USD 15.07 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 18.35%.
Automotive Sensors Market: The Global Automotive Sensors Market size is estimated to grow at a CAGR of 6.12% between 2023 and 2027. The market size is forecast to increase by USD 8,339.77 million.
Table Of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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SOURCE Technavio
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