The Automotive RADARs are installed in automobiles to discover the object in the surrounding vehicle. The Automotive RADAR commonly finds application in the commercial and passenger vehicles. The RADAR technology in automotive industry is principally organized to give driver a reconnaissance, navigation & guidance, safety, target tracking and traffic observing amongst others. During the recent time, the automotive industry has been functioning to announce features that aid in decreasing the impression of fatalities, collisions and enhance the overall vehicle safety.
According to the report analysis, ‘Global Automotive RADAR Market to reach USD 7.6 billion by 2026’ states that in the global automotive RADAR market there are several corporate which presently operating more effectively for leading the highest market growth and registering the great value of market share around the globe during the short span of period while decreasing the linked prices, advancing the applications of such, enhancing the specifications of the production technologies, delivering the better consumer satisfaction, implementing the profitable strategies, analyzing and observing the strategies and policies of the government as well as competitors, employing the young work force and establishing the several research and development programs includes Texas Instruments Inc., Robert Bosch GmbH, HELLA KGaA, Continental AG, Denso Corporation, Delphi Automotive PLC, Autoliv Inc., Valeo S.A., Infineon Technologies AG, NXP Semiconductors N.V. and several others.
In addition, the effective growth in the government regulations for vehicle safety, increasing the number of road accidents coupled with augmented demand for premium segment vehicles are foremost driving forces of the market growth. As per the WHO report 2018, the amount of road traffic deaths causes approximately 1.35 million deaths per year, across the globe. Furthermore, increasing the adoption of automotive protection systems are further reinforcement the growth of the market. Government of dissimilar nations is establishing the regulatory norms for implementation of driver assistance system in vehicles which is further flagging the market growth. For instance, the Europe region has played an essential role towards ADAS (Advanced Driver Assistance System) adoption focusing to decrease the number of road fatalities along with protection concerns of the passenger. A legal framework under the directive 2010/40/EU has been implemented on July 2010 for quickening the deployment of these technologies in transport segment across the Europe. Similarly, as per the United States department of Transportation, the NHTSA (National Highway Traffic Safety Administration) is functioning to promote implementation of DAS (Driver Assistance Systems). Similarly, during September 2018, Minister of Road Transport and Highways of India, proclaimed planning for driver assistance system as a compulsory feature in vehicles. As a result, great implementation of automotive RADAR is monitored.
Furthermore, the regional analysis of wide-ranging Automotive RADAR market is measured for the foremost regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. The Europe is the leading/significant region around the world in terms of market share due to the occurrence of Germany, early adopter of several advance technologies across the world coupled with existence of the most stringent vehicle protection regulations. Whereas, the Asia-Pacific is also projected to exhibit greatest growth rate / CAGR over the review period of 2020-2026. Aspects such as increasing disposable income, growth in automobile sales coupled with increasing awareness about vehicle protection systems and their resultant assistances would generate profitable growth prospects for the Automotive RADAR market around Asia-Pacific region. Therefore, in the near years, it is predicted that the market of automotive radar will increase around the globe more actively over the inflowing years.
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Ankur Gupta, Head Marketing & Communications