Market Summary
Market Research Future (MRFR) discusses dynamics of the Automotive radar sensor Market 2023, in its latest report. A complete analysis of the Radar Sensors Market size progress under the COVID 19 outbreak is supplemented along with report. As per MRFR study, the Radar Sensors Market size is expected to rise at about 19.26% CAGR by 2030.
The increase in the need for safety engagement solutions for automobiles is observed as the chief driver of the Radar Sensors Market size in the years to come. The rise in safety concern pedestrians, drivers, and passengers can support the expansion of the Radar Sensors Market size in the years to come. The increase in road accidents, demanding the need for effective safety solutions is expected to push the automotive radar market across the analysis period.
Key Players
HELLA KGaA (Germany), Bosch GmbH (Germany), Infineon Technologies AG (Germany), Autoliv Inc. (Sweden), ZF Friedrichshafen AG (Germany), Continental AG (Germany), Valeo S.A (France), Denso Corporation (Japan), InnoSenT - Innovative Radar Sensor Technology (Germany), NXP Semiconductors N.V (Netherlands), Texas Instruments Incorporated. (U.S.). Kestrel Radar Sensors (England), First Sensor AG (Germany), and FUJITSU TEN Ltd. (Japan) are some key players in the Radar Sensors Market size as listed by MRFR.
The Radar Sensors Market size is segmented based on range, application, and vehicle type.
The application based, the Radar Sensors Market size segments are Autonomous Emergency Braking (AEB), Adaptive Cruise Control (ACC), Lane Change Assist (LCA), Forward Collision Warning System (FCWS), and Blind Spot Detection (BSD) among others.
The range based, the Radar Sensors Market size segments are short range, long range, and medium range. The Short range radar sensors segment can earn high revenue for the global market in the years to come due to the increase in their application. The adaptive cruise control systems segment can thrive in the years to come.
The vehicle type based segments of the Radar Sensors global market are commercial vehicle and passenger car. The commercial segment is expected to thrive in the years to come.
Detailed Regional Study
The Radar Sensors Market size dynamics and trends are studied across North America, APAC, MEA, and Europe. Radar Sensors Market size in the Asia Pacific region is expected to thrive as increase in the manufacturing of modern and luxurious vehicles observed. In India and other growing economies, the increase in the application of Radar Sensors, the regional market can flourish. The need for newer vehicles and rise in demand for high-end technology enabled vehicles are other major forces that can promote the expansion of the Radar Sensors Market size in APAC. The increase in the adoption of ADAS by the booming automotive industry can also support the rise of the Radar Sensors Market size across the analysis period.
In North America, the Radar Sensors Market size expansion can be attributed to the rise in the production of high-end premium vehicles. The increase in the manufacturing of vehicles with high safety features can promote the expansion of the Radar Sensors Market size in the years to come. The increase in the installation of modern automobile technologies in luxury car can prompt the rise of the Radar Sensors Market size across the analysis period. In Europe, Germany can head the regional market across the analysis period. The rise in the sales of vehicles and several giants operating in the regional automobile sector can contribute largely to the expansion of the Radar Sensors Market size across the analysis period.
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