The Automotive Radar Market was valued at US$ 5,019.01 million in 2019 and is projected to reach US$ 11,640.77 million by 2027; it is expected to grow at a CAGR of 14.9% during 2020–2027.

The automotive radar market is driven by various factors such as increasing government regulations concerning vehicle safety, rising adoption of premium vehicles, as well as a growing number of radars used in a vehicle. Moreover, the rising production and adoption of electric vehicles (EV) are further expected to support the growth of the automotive radar market. It is anticipated that in the coming years, autonomous driving will be the growing trend. To attain this, several vision technologies have increased intending to deliver functionality as well as safety to the vehicle's drivers and passengers. Radar systems are considered the most established and trusted technologies among the automotive industry's various vision technologies. At present, several vehicle manufacturers provide 'level 3' automation, wherein drivers are on standby for a certain time. These vehicles are integrated with nearly five radar systems, including SSR and LLR, for applications such as emergency braking or adaptive cruise control.

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The report provides the current market size for Automotive Radar, defines trends and presents growth forecasts for nine years from 2019 to 2028. 2020 is considered as the base year, and 2022 to 2028 is forecast year for the entire report. All the market numbers for revenue are provided in US dollars. The market is analyzed by the supply side, considering the market penetration of Automotive Radar Market for all the regions globally.

The scope of the Automotive Radar Market Report:
The research report focuses on the current market trends, opportunities, future potential of the market, and competition in the Automotive Radar in North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The study also provides market insights and analysis of the Automotive Radar, highlighting the technological market trends, adoption rate, industry dynamics, and competitive analysis of major players in the industry.
Automotive Radar: Market Insights
Rising Number of Road Accidents and Fatalities Fuels Market Growth
Road traffic injuries are a key public health concern faced by governments, and the increasing prevalence of the same hinders the development of countries. According to the data by the World Health Organization (WHO), ~1.35 million people die each year because of road traffic accidents, which also lead to considerable economic loss at macro as well as micro level. According to the WHO, road traffic injuries cost most countries 3% of their Gross Domestic Product (GDP).

Range-Based Insights
Based on range, the automotive radar market is segmented into long range radar (LRR), medium range radar (MRR), and short range radar (SRR). The short range radar segment led the global automotive radar market. Short range radar helps driver to detect and avoid danger around the vicinity of the vehicle. High performance 24 GHz radar sensor is installed at both ends of the rear bumper.

Major highlights of the report:
• All-inclusive evaluation of the parent market
• Evolution of significant market aspects
• Industry-wide investigation of market segments
• Assessment of market value and volume in past, present, and forecast years
• Evaluation of market share
• Tactical approaches of market leaders
• Lucrative strategies to help companies strengthen their position in the market

Note – The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on ‘Automotive Radar Market’ provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2028, factoring the impact of Covid -19 Situation.

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Major key players covered in this Automotive Radar Market report:
• Continental AG
• Denso Corporation
• Aptiv plc
• HELLA GMBH & CO. KGAA
• Robert Bosch GmbH
• VALEO SA
• ZF Friedrichshafen AG
• Veoneer Inc.
• Nidec Elesys Corporation
• TungThih Electronic Co., Ltd.

Automotive Radar Market Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America

Reason to Buy
• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Automotive Radar Market.
• Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
• The key findings and recommendations highlight crucial progressive industry trends in the Automotive Radar Market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth at a certain extent.

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