Stratview Research has recently published a report on the Automotive Radar Market. This strategically evaluated report provides a detailed overview that presents today's market scenario and future possibilities, as well as market intelligence and information, for a 5-year period from 2023 to 2028.
Automotive Radar Market Analysis:
Stratview Research’s report discusses the segment-wise current market condition. Also, it offers an estimation of future growth opportunities. As per the estimation, the Automotive Radar Market was estimated to grow from USD 4.48 billion in 2022 to reach USD 14.4 billion by 2028 at an attractive CAGR of 21.48% during the forecast period.
What is Automotive Radar?
Automotive RADAR systems are the primary sensor adaptive cruise control systems and play a critical role in advanced driver assistance. Furthermore, automotive RADAR is an important sensor for accident prevention, vehicle and pedestrian avoidance, and other applications.
Some of the companies drives the market growth:
- Analog Devices
- Autoliv
- Continental
- Delphi Automotive LLP
- Denso Corporation
- Fujitsu
- Infineon Technologies
- Next eXPerience
- Robert Bosch
- STMicroelectronics.
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Segment Analysis
Application Trends
The market is segmented as Adaptive Cruise Control (ACC), Blind Spot Detection (BSD), Lane Departure Warning System (LDWS), Parking Assistance (PA) and Forward Collision Warning System (FCWS).
Due to the rising automotive uses of radar technology, such as parking assistance, guiding, and reverse warnings, the parking assistance segment will increase at a CAGR of over 15% during the forecast period.
While parking, the parking sensors notify drivers to potential impediments in real time. The parking manoeuvre is calculated by proximity sensors as soon as the driver activates the radar park assistant.
Research Methodology
- This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
- More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.
- We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
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