Automotive Radar Market to Witness a CAGR of 23% until 2022
Growing technological
advancements, anticipated increase in sales of autonomous vehicles and
favorable regulations to drive global automotive radar market through 2022
According to TechSci Research report, “Global Automotive Radar Market By Vehicle Type, By Application, By Region, Competition Forecast &
Opportunities, 2016 – 2022”, global automotive radar market is projected to grow
at a CAGR of more than 23%, in value terms, during 2017 – 2022, on account of increasing
sales of autonomous vehicles and consistently rising automotive radar prices.
In addition, growing government initiatives aimed at reducing as well as avoiding
motor vehicle collisions that result in deaths and injuries are expected to
encourage the adoption of automotive radars across the world during the
forecast period. Moreover, automotive radar’s ability to track congestion and
smoothen traffic operations is anticipated to further boost their adoption in the
coming years.
Browse 54
Tables and 127 Figures spread through 220 Pages and an
in-depth TOC on "Global Automotive Radar
Market"
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In 2016, passenger car radar segment dominated the global
automotive radar market, followed by light commercial vehicle radar and medium
& heavy commercial vehicle radar segments. Increasing production as well as
sales of passenger cars coupled with growing consumer preference for automotive
radars in their vehicles is expected to result in continuing dominance of passenger
car radar sensor segment during 2017-2022. North America accounted for the
largest share in global automotive radar sensor market in 2016 and the trend is
expected to prevail through 2022, predominantly on account of increasing
vehicle production and strict government policies in the region.
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Few of the
leading players operating in the global automotive radar market include
Infineon, STM, NXP, ZF TRW, Valeo, among others. “Backed by increasing number
of laws and regulations pertaining to automotive radars, regions like North
America and Europe & CIS have emerged as the most prominent markets for automotive
radars. North America was the largest market for automotive radar sensors in
2016, followed by Europe & CIS. However, during 2017 – 2022, Asia-Pacific, South America and MENA regions
are anticipated to exhibit robust growth.”, said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Global Automotive Radar Market By Vehicle Type, By Application, By Region, Competition Forecast
& Opportunities, 2016 – 2022” has analyzed the potential of global
automotive radar market, and provides information and statistics on market size,
structure, and future market growth. The report intends to provide clients with
cutting-edge market intelligence and help them in taking sound investment
decisions. The report also identifies and analyzes emerging trends along with
essential drivers and key challenges faced by the industry.
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