Safety has evolved as a major concern for pedestrians and passengers, owing to a surge in the number of road accidents throughout the world. The Insurance Institute for Highway Safety revealed that one out of three fatal crashes can be prevented if the automobiles are integrated with collision avoidance technologies. Automotive radar sensors find wide application in several applications, such as forward collision warning system, autonomous braking, lane departure warning, adaptive cruise control, blind spot detection, parking assistance, and adaptive headlights. Prominent automakers throughout the world started to incorporate primary collision avoidance systems into their mass-market structures. Due to the surged amount of road accidents, importance is on better road safety laws and regulations for making automobiles safe for driving. This, consequently, is surging the consumption of progressive driver-assistance systems (ADAS) and the need for the automotive radar sensors market. Other aspects propelling the worldwide market include clean transportation and the introduction of innovative technologies in automobiles. Additionally, the government regulations and policies for driver safety to upkeep the reduction of deadly accidents and the environmental awareness inspire manufacturers to create effective and environment-friendly vehicles. This has caused a sharp rise in the demand for automotive radar sensors, throughout the world. Nevertheless, the increasing cost of radar sensors and the resultant technology is one of the primary limitations of the market. Market Research Future (MRFR) has conducted a thorough study on the automotive radar sensors market. The study concluded that the automotive radar sensors market is likely to grow at a CAGR of almost 19.26% over the estimation period 2017 to 2023.
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Global automotive radar sensors market is segmented based on application, vehicle type, and range. Based on application, the market is segmented into Adaptive Cruise Control (ACC), Lane Change Assist (LCA), Forward Collision Warning System (FCWS), Blind Spot Detection (BSD), Autonomous Emergency Braking (AEB), and others. Adaptive Cruise Control (ACC) segment is estimated to rule throughout the forecast period since it enables the vehicle to inevitably modify the speed of the vehicle to preserve the safe distance between two vehicles. Based on range, the market is segmented as medium range, long range, and short range. Short range radar sensors segment is anticipated to lead the market in future owing to the increased usage of those sensors in adaptive cruise control systems.
Global automotive radar sensors market consists of renowned players such as HELLA KGaA (Germany), Robert Bosch GmbH (Germany), Denso Corporation (Japan), Continental AG (Germany), Valeo S.A (France), Autoliv Inc. (Sweden), NXP Semiconductors N.V (Netherlands), Infineon Technologies AG (Germany), InnoSenT – Innovative Radar Sensor Technology (Germany), Texas Instruments Incorporated. (U.S.), Kestrel Radar Sensors (England), First Sensor AG (Germany), FUJITSU TEN Ltd. (Japan), and ZF Friedrichshafen AG (Germany).
Based on region, the market is segmented into Europe, Asia Pacific, North America, and the Rest of the World. In the Asia Pacific market, there is a surge in the manufacturing of new automobiles in emerging economies, such as China, Japan, and India. In newer vehicles, the demand for high-end technology in the vehicles is forever growing. Additionally, the increased adoption rate of the ADASs in the automotive sector is one of the key growth drivers for the APAC market. The North America market experiences an upsurge in the high-end premium cars segment with augmented safety and facility. The increasing demand for high-end premium vehicles with installed up-to-date technology will give rise to the development of automotive radar sensors within the North America market. In Europe market, Germany is likely to lead the market throughout the forecast period primarily owing to a surge in the sales and production of vehicles.
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