Lucintel Anticipates that Europe Will be the Fastest Growing Region in the Automotive Radar Market

ACCESS Newswire

Mon, Nov 23, 2020, 1:35 AM 4 min read

DALLAS, TX / ACCESSWIRE / November 23, 2020 / According to a market report by Lucintel, the future of the automotive radar market looks promising with opportunities in the large car, SUVs and crossovers, mid-size car, and light commercial vehicles, and electric vehicle markets. The automotive radar market is expected to grow with a CAGR of 24% from 2019 to 2024. The major drivers for this market are stringent government regulations for vehicle safety, increase in adoption of ADAS technology by OEMs, growing demand for premium segment vehicles, innovations in the radar technology, and increasing number of radar sensors used per vehicle.

To download report brochure, please go to https://www.lucintel.com/automotive-radar-market.aspx and click "report brochure" tab

Within the automotive radar market, large cars, SUVs and crossovers, mid-size cars, light commercial vehicles, and electric vehicles are the major end use industries. Luxury car is the largest end use segment for automotive radar market.

Long Range RADAR (LRR), Short and Mid-Range RADAR (S&MRR) are the major radar range segment of the automotive radar market.

Europe will remain the largest region over the forecast period due to the stringent government regulations, rapid adoption of radar-based safety features, and high demand for premium cars.

Continental, Robert Bosch, Delphi Automotive, Denso Corporation, Infineon Technologies, NXP Semiconductors, Valeo, Analog Devices, Hella KGaA Hueck & Co, Texas Instruments, Autoliv, and ZF Friedrichshafen are among the major suppliers of automotive radar.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the automotive radar market by range, by frequency band, by application, by end use, and by region. Lucintel has prepared a comprehensive research report titled "Automotive RADAR Market 2019-2024: Trends, Forecast, and Opportunity Analysis". This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the automotive radar market by range, by frequency band, by application, by end use, and by region as follows:

By Range [$M shipment analysis for 2013 - 2024]