Asia Pacific Automotive Radar Market Share, Growth By Top Co...| MENAFN.COM

Monday, 05 December 2022 09:01 GMT

Asia Pacific Automotive Radar Market Share, Growth By Top Company, Region, Applications, Drivers, Trends, And Forecast To 2022-2031


(MENAFN- America News Hour)

The report predicts the global Asia Pacific Market Insights on Automotive Radar to grow at a healthy CAGR over the forecast period from 2022-2031.

Market Overview:

The Asia Pacific is the largest car manufacturing hub in the world and is home to some of the prominent car manufacturers such as Nissan, Hyundai, Honda, Kia, and Toyota, among others. The Asian market is also an emerging market for the automotive sector, which is primarily backed by the low-cost country sourcing and high level of industrialization in the region. The rising number of accidents paired with increasing demand for safer vehicle mobility and strict government regulations and initiatives for creating innovative radar systems are the major factors driving the deployment of radar technology in vehicles in Asian countries such as India, China, and Thailand, among others. Additionally, the growing trend of autonomous vehicles and rising vehicle electrification is expected to foster the growth of automotive radar in the region.

The increased sales of vehicles in Asian countries would further provide a wider range of growth opportunities for the vendors operating in the industry to increase their revenue share. However, counterfeiting in India and China and high imports and taxes charged by governments in several countries are posing major challenges in the region.
Insights Presented in the Report:
The is segmented based on the range of the radars. It includes short and midrange radar (S&MRR) and long-range radar (LRR). In 2017, S&MRR segment dominated over LRR however LRR is anticipated to be the fastest growing market with a CAGR of 25.9% during the forecast period (2022-2031).

Based on different application areas, the market is categorized as Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Intelligent Parking System (IPS), Blind Spot Detection (BSD), Collision Mitigation System (CMS) and others. Among these application areas, adaptive cruise control is expected to be the largest market during the forecast period. On the other hand, the market value of autonomous emergency braking applications is anticipated to be the fastest growing during the forecast period.

The study further includes the segmentation across different frequency bands such as 24 GHz and 77 GHz. Due to the increase in demand for 24 GHz radars in Asia Pacific, this segment held the highest market share in 2017. However by 2021, the market value of 77 GHz radars is anticipated to exceed the market of 24 GHz radar and is anticipated to remain dominant by 2031.

The Asian automotive radar market is also fragmented across different vehicle types that include passenger cars, luxury cars, and commercial vehicles. In 2017, the passenger vehicles segment dominated the market with a market value of $537.27 million. Adding to this, the increase in demand of radar systems in the luxury vehicles segment is expected to propel the luxury vehicles segment making it the fastest growing market during the forecast period.

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For an in-depth understanding of the Asian automotive radar market, it is further segmented across different countries China, Japan, India, Singapore, South Korea, Australia and the rest of Asia Pacific. In 2017, China dominated the Asian market, the major factors attributed for this were the huge automotive industry, the presence of several radar suppliers and rise in economic conditions of the consumers, among others.

Top Companies Profiled:

Some of the major players profiled in the report include Continental AG, Robert Bosch GmbH, Denso Corporation, Delphi Automotive Plc, Infineon Technologies AG, NXP Semiconductors NV, Valeo SA, Analog Devices Inc., Hella KGaA Hueck and Co, and Texas Instruments Inc.

Reasons to Buy the Report:

The study includes market sizing and forecasting analysis validated by authenticated key industry experts
The report presents a quick review of overall industry performance at one glance
The report covers in depth analysis of prominent industry peers with primary focus on key business financials, product portfolio, expansion strategies and recent developments
Detailed examination on drivers, restraints, key trends and opportunities prevailing in the industry.
Examination of industry attractiveness with the help of Porter's Five Forces analysis
The study comprehensively covers the market across different segments
Deep dive regional level analysis of the industry

Customization Options:

The Asia-Pacific Automotive Radar Market can be customized to country level or any other market segment. Besides this, UMI understands that you may have your own business need, hence we also provide fully customized solutions to clients.

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About SDKI :

The dynamic nature of the business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count ( SDKI ) provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.

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