How are Automotive Radar Solutions Improving Vehicular Safety?

The burgeoning requirement for the integration of advanced driver assistance system (ADAS) features in automobiles is positively impacting the demand for automotive radars across the world. Moreover, with the soaring sales of autonomous vehicles, the demand for radars is growing rapidly, on account of the fact that these systems allow the proper functioning of various automobile functions such as speech recognition, eye tracking, driver monitoring, virtual assistance, gesture recognition, and natural language interface.

The ballooning demand for automotive radar solutions is causing the expansion of the global automotive radar market. The market already attained a value of $5,839.0 million in 2019 and is now predicted to advance at a CAGR of 8.4% between 2020 and 2030. Automotive radar solutions are required in both fully autonomous and semi-autonomous vehicles. Between the two, the adoption of these solutions is expected to rise rapidly in the fully autonomous vehicles in the forthcoming years.

Geographically, the automotive radar market would exhibit the fastest growth in Asia-Pacific (APAC) in the future, as per the estimates of the market research firm, P&S Intelligence. This would be because of the mushrooming manufacturing of automobiles and rapid advancements and innovations being made in the automotive radar technology, particularly in China. Furthermore, the soaring investments being made in the development of advanced vehicular safety features are pushing up the popularity of automotive radar solutions in the region.

Source: P&S Intelligence