Portland, OR, April 08, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global automotive RADAR market was estimated at $3.15 billion in 2018 and is anticipated to hit $7.68 billion by 2026, registering a CAGR of 11.7% from 2019 to 2026. 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.
Increase in demand for safety skins in automobiles, rise in proclivity for comfortable driving, and stringent rules & regulations by governments drive 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. However, high-end advancement in technology and innovation in ADAS are projected to pave the way for lucrative opportunities in the near future.
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The intelligent park assist segment to dominate by 2026-
By application, the intelligent park assist segment generated the highest share in 2018, holding nearly one-fourth of the global market. Nevertheless, the autonomous emergency braking segment would register the fastest CAGR of 15.7% throughout the forecast period. The other segments analyzed in the report include adaptive cruise control, blind spot detection, and forward collision warning system.
The 24 GHz segment to retain its dominance till 2026-
By frequency, the 24 GHz segment contributed to more than half of the total market revenue in 2018, and is projected to rule the roost by the end of 2026. Simultaneously, the 77 GHz segment would cite the fastest CAGR of 17.2% from 2019 to 2026. The 79 GHz segment is also discussed in the market report.
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Asia-Pacific to lead the trail-
By region, Asia-Pacific held more than half of the total market share in 2018, and is expected to maintain its top status by 2026. At the same time, Europe would grow at the fastest CAGR of 13.9% during the study period. The other regions assessed in the report include North America and LAMEA.
Frontrunners in the industry-
The key market players analyzed in the global automotive RADAR market report include Continental AG, Autoliv Inc., Texas Instruments, Analog, DENSO Corporation, NXP Semiconductors, Delphi Automotive Company, Robert Bosch GmbH, Valeo, and ZF Friedrichshafen. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to corroborate their stand in the industry.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.