Automotive Radar Market - Size, Share, Outlook, and Opportunity Analysis, 2018-2026
Automotive radars are used for detecting objects on the road and sensing distances between vehicles in real-time. These radars help enhance driving efficiency and road safety. Automotive radars contain a receiver and transmitter, and is used for sending and receiving waves for detecting the distance, speed, and directions of objects. Collision detection, warning and mitigation, collision avoidance, blind spot monitoring and detection, lane change assistance, lane departure warning system, rear cross-traffic alerts, and vulnerable road user detection are some of the applications of automotive radar systems. Request For Sample Copy of this Research Report : https://www.coherentmarketinsights.com/insight/request-sample/1843 Increasing concern regarding safety is one of the major factors driving growth of the automotive radar market. Increasing demand for advanced safety system, comfort, and convenience systems, and increasing number of road accidents are expected to fuel growth of the automotive radar market. For instance, according to World Health Organization (WHO), an estimated 1.25 million road accidents were reported worldwide in 2013,out of which around 93% road traffic deaths were reported in low- and middle-income economies and over 50 million people were injured due to road accidents. Radar sensors are responsible for collecting vital information such as range, angle, and Doppler velocity, which is then used to determine the driving situation and warn drivers regarding potential collisions to avoid blind spot crashes. Thus, automotive radars increase safety, lower the risk of road accidents, and help manage road traffic, which in turn, influencing vehicle manufacturers to integrate advanced radar systems in vehicles. These factors are thus, expected to propel growth of the automotive radar market in the near future. High cost of automotive radars is one of the major factors restraining growth of the market The key factor restraining growth of the automotive radar market is the high cost of these radar systems. For instance, according to the Coherent Market Insights, in 2017, the costs for 24GHz, 77GHz, and 79GHz automotive millimetre-wave radar