Automotive Radar Sensors Market size was valued at USD 4.93 billion in 2019 and is poised to grow from USD 5.47 billion in 2023 to USD 12.55 billion by 2031, growing at a CAGR of 10.94% in the forecast period (2024-2031).
The Research report on Automotive Radar Sensors Market presents a complete judgment of the market through strategic insights on future trends, growth factors, supplier landscape, demand landscape, Y-o-Y growth rate, CAGR, pricing analysis. It also provides and a lot of business matrices including Porters Five Forces Analysis, PESTLE Analysis, Value Chain Analysis, 4 Ps' Analysis, Market Attractiveness Analysis, BPS Analysis, Ecosystem Analysis.
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Segmental Analysis
- ApplicationAdaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Blind Spot Detection (BSD), Forward Collision Warning System, Intelligent Park Assist and Other ADAS Applications
- RangeLong Range RADAR (LRR) and Short and Medium Range RADAR (S&M)s
- Frequency24 GHz, 77 GHz and 79 GHz
Market Dynamics
Automotive Radar Sensors Market Drivers
Increasing Applications of Automotive Radar Sensors to Bolster its Demand
- Currently, all across the globe, consumers of car are considering comfort as the crucial factor of purchase. The automotive radar seen high end are used, such as adaptive trip control and parking add controls to make driving more comfortable for drivers, manufacturers are adding safety technology. Moreover, other advantages of automotive radar includes improving safety, reducing the risk of road accidents, aid in traffic management. Therefore, these advantages and increasing popularity will lead to the growth of automotive radar sensor market all across the globe. users now use
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By Regions and Countries
o North America
o Europe
o Asia-Pacific
o South America
o Middle East & Africa
Following are the players analyzed in the report
• Robert Bosch GmbH• Continental AG• Denso Corporation• Infineon Technologies AG• Texas Instruments Incorporated• Valeo S.A.• Autoliv Inc.• NXP Semiconductors N.V.• Aptiv PLC• HELLA GmbH & Co. KGaA• Fujitsu Limited• ZF Friedrichshafen AG• Panasonic Corporation• Analog Devices, Inc.• HARMAN International• Mitsubishi Electric Corporation• TDK Corporation• Hitachi Automotive Systems, Ltd.• STMicroelectronics N.V.• Renesas Electronics Corporation
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The research provides answers to the following key questions:
• What is the estimated growth rate of the market for the forecast period 2024-2031? What will be the market size during the estimated period?
• What are the key driving forces responsible for shaping the fate of the Automotive Radar Sensors Market during the forecast period?
• Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Automotive Radar Sensors Market?
• What are the prominent market trends influencing the development of the Automotive Radar Sensors Market across different regions?
• What are the major threats and challenges likely to act as a barrier in the growth of the Automotive Radar Sensors Market?
• What are the major opportunities the market leaders can rely on to gain success and profitability?