Automotive Radar Market to Witness a CAGR of 23% until 2022

Aug, 2017: 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 ( http://bit.ly/2hQQQIw ) 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.

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.

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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