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Automotive Radar Market Size
- Report ID: GMI768
- Published Date: Sep 2016
- Report Format: PDF
Automotive Radar Market Size
Automotive Radar Market size estimated at around USD 1 billion in 2015, growing at a CAGR of over 15% from 2016 to 2024.
The automotive radar market growth is attributed to the rising investments in the countries including China, Japan, Germany, the UK, India, and the U.S. for the development of the automobile industry. For instance, in February 2016, the UK Connected Intelligent Transport Environment (UK-CITE) project received USD 28.8 million from the government’s intelligent mobility fund. The funding amount was used to develop the next generation of autonomous vehicles. According to the IBEF, the passenger vehicle production in India is expected to increase from 3.4 million in FY 2016 to 10 million in FY2020. Such a profound growth of the automobile sector will lead to the demand for automotive radar systems to support functions such as navigation, surveillance, and traffic monitoring. Radar-enabled driver assistance systems provide deep insights about vehicles’ surroundings and help drivers to identify potential hazards in advance. With the rising awareness about passenger & vehicle safety, the demand for automotive radar modules and sensors will accelerate over the forecast timeline.
| Report Attribute | Details |
|---|---|
| Base Year: | 2015 |
| Automotive Radar Market Size in 2015: | 1 Billion (USD) |
| Forecast Period: | 2016 to 2024 |
| Forecast Period 2016 to 2024 CAGR: | 15% |
| 2024 Value Projection: | 5 Billion (USD) |
| Historical Data for: | 2013 to 2015 |
| No. of Pages: | 88 |
| Tables, Charts & Figures: | 72 |
| Segments covered: | Application, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Automotive Radar Market Scope
