Automotive RADAR Market Expected to Touch $10.06 Billion by 2028, Driven by 12.6% CAGR Growth | AMR

PORTLAND, OREGAON, UNITED STATES, September 26, 2023 /EINPresswire.com/ -- According to the report published by Allied Market Research, the global automotive RADAR market was estimated at $4.08 billion in 2020 and is anticipated to hit $10.06 billion by 2028, registering a CAGR of 12.6% from 2021 to 2028. The report provides a detailed analysis of the top investment pockets, top winning stratagems, drivers & opportunities, market size & estimations, competitive landscape, and fluctuating market trends.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/2428

Rise in demand for safety skins in automobiles, increase in proclivity for comfortable driving, and stringent rules & regulations by government bodies fuel the growth of the global automotive RADAR market. On the other hand, high cost and complex structure of the system restrains the growth to certain point. Nevertheless, high-end advancement in technology and innovation in ADAS are expected to pave the way for lucrative opportunities in the near future.

The global automotive RADAR industry is analyzed across application, frequency, range, vehicle type, and region. By application, the intelligent park assist segment generated the highest share in 2020, holding more than one-fifth of the global market. Nevertheless, the autonomous emergency braking segment would register the fastest CAGR of 15.8% throughout the forecast period. The other segments studied through the report include blind spot detection, adaptive cruise control, forward collision warning system, and other ADAS applications.

By vehicle type, the 24 GHz segment contributed to more than half of the total market revenue in 2020, and is projected to rule the roost by the end of 2026. Simultaneously, the 77 GHz segment would cite the fastest CAGR of 18.8% from 2021 to 2028. The 79 GHz segment is also discussed in the market report.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/automotive-RADAR-market/purchase-options

By region, Asia-Pacific held more than half of the total market share in 2020, and is expected to maintain its top status by 2028. At the same time, Europe would grow at the fastest CAGR of 14.8% during the study period. The other regions assessed in the report include North America and LAMEA.

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 :

Due to the outbreak of COVID-19, the sales figures went significantly low in the recent years, as both the demand for new vehicles and their production was hugely impacted severely. This impacted the revenue streams allocated toward the R&D and adoption of new technologies like automotive RADAR.

However, with the mass vaccination drive on board, the global situation is getting back on track at a slow & steady pace, and the market is anticipated to revive soon.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :

Analog Devices, Inc.,
BorgWarner Inc.,
Continental AG,
DENSO Corporation,
NXP Semiconductors,
Robert Bosch GmbH,
Texas Instruments,
Valeo, Veoneer Inc.
ZF Friedrichshafen AG.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/2428

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐀𝐜𝐨𝐮𝐬𝐭𝐢𝐜 𝐄𝐧𝐠𝐢𝐧𝐞𝐞𝐫𝐢𝐧𝐠 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 : https://www.globenewswire.com/news-release/2020/10/05/2103607/0/en/Automotive-Acoustic-Engineering-Services-Market-worth-4-80-Billion-by-2027-Allied-Market-Research.html

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐇𝐲𝐝𝐫𝐨𝐬𝐭𝐚𝐭𝐢𝐜 𝐅𝐚𝐧 𝐃𝐫𝐢𝐯𝐞 𝐒𝐲𝐬𝐭𝐞𝐦 𝐌𝐚𝐫𝐤𝐞𝐭 : https://www.globenewswire.com/news-release/2021/02/03/2169266/0/en/Automotive-Hydrostatic-Fan-Drive-System-Market-Worth-571-5-Million-by-2027-Says-Allied-Market-Research.html

David Correa
Allied Market Research
+1 800-792-5285
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