Automotive Radar Global Market Expected To Create Lucrative Opportunities For The Global Market

Automotive radars are play a critical role in the detection of objects in many different safety systems like adaptive cruise control, automated emergency braking, blind spot detection, and pedestrian detection. A shift towards the modern technology of driverless vehicles is estimated to offer advantage to the world market for automotive radar as radars play a very significant role in the making of an automobile which is entirely autonomous. In addition to this, an emphasis on innovation, surging sales of vehicles in the developing world, and a focus on the security and safety are triggering the growth of the world market for the automotive radar.

The international automotive radar market is marked with the emergence of many different important market players such as Autoliv Inc., Baumer, Magna International Inc., GM Cruise LLC., Robert Bosch GmbH, ZF Friedrichshafen AG, InnoSenT GmbH, Mando Corp., Continental AG, and Denso Corporation. Transparency Market Research makes an estimation that the international market for automotive radar would be worth around US$ 4.9 bn by the year 2026. The global market for automotive radar is anticipated to rise at an exponential, double digit CAGR of 19.5% from the year 2017 to the year 2026.

Europe is the Continue with its Dominance over the Period of Forecast

In terms of region, the international market for automotive radar has been divided into the regions of Asia Pacific except Japan, Europe, Middle East and Africa, Latin America, North America, and Japan. It has been anticipated that the region of Europe would hold on to its position as the lead player in the world market for automotive radar over the period of forecast that extends from the year 2017 to the year 2025. The European Commission has just initiated the 79 GHz venture for vehicular radars, which has laid the very foundation stone for the future advancement of the world market for automotive radar.

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