Automotive Radar Market Future Growth Analysis and Challenges

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Automotive Radar Market Growth, Segments, Size,
Industry Analysis and Opportunities 2030
Due to the surging number of road accidents,
manufacturers in the automotive industry are
focusing extensively on making vehicles safer and
more secure. Attributed to this, vehicles are
now being integrated with advanced
driver-assistance systems (ADAS). These systems
provide the driver with an enhanced driving
experience and can significantly help in avoiding
an accident. This is further leading to the
rising demand for automotive radars, which are
utilized for detecting the range and speed of
objects near the car. The automotive radar market
is projected to grow considerably in the coming
years, owing to increasing number of vehicles.
According to a PS Intelligence report, the
global automotive radar market generated a
revenue of 5,839.0 million in 2019, and it is
projected to progress at an 8.4 CAGR during the
forecast period (20202030). Automotive radars
are integrated in fully autonomous and semi-
autonomous vehicles, between which, the largest
demand for automotive radars was created for
semi-autonomous vehicles. This is because of the
fact that as of yet, autonomous vehicles of
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only 1,2, and 3 levels are available in the
market for purchasing. However, with the
introduction of fully autonomous vehicles, the
automotive radar market will grow as
well. Request to Get the Sample Report_at_
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analysis/automotive-radar-market/report-sample Au
tomotive radar has a number of applications,
including intelligence park assist (IPA),
adaptive cruise control (ACC), forward collision
warning (FCW), autonomous emergency braking
(AEB), and blind spot detection (BSD). Out of all
this, the demand for automotive radar was the
highest for ACC application in the past and the
situation is expected to remain the same in the
coming years as well, which is projected to
result in the growth of the automotive radar
market. The major reason for this is the rising
requirement for radar-equipped ACC systems in
semi-autonomous vehicles, since radars have the
ability to function in adverse weather
conditions. Geographically, North America
emerged as the largest automotive radar market in
the past, which can be attributed to the
increasing development activities regarding
autonomous vehicles and rising implementation of
policies and provision of financial incentives by
governments for encouraging the adoption of
these devices in the region. Apart from this,
the Asia-Pacific region is also projected to be
the fastest-growing automotive radar market in
the years to come, which is owing to the
increasing vehicles production and technological
advancements in the region. Make Enquiry Before
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m/send- enquiry?enquiry-urlautomotive-radar-mark
et In conclusion, automotive radars are being
integrated in cars in order to increase their
safety and security.