Market Research Report
|Published by||Global Industry Analysts, Inc.||Product code||893950|
|Published||Content info||212 Pages
Delivery time: 1-2 business days
|Published: September 1, 2020||Content info: 212 Pages||
Global Automotive RADAR Market to Reach $14.4 Billion by 2027
Amid the COVID-19 crisis, the global market for Automotive RADAR estimated at US$4.4 Billion in the year 2020, is projected to reach a revised size of US$14.4 Billion by 2027, growing at aCAGR of 18.5% over the period 2020-2027. Long Range RADAR, one of the segments analyzed in the report, is projected to record 17.4% CAGR and reach US$5 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Short & Medium Range RADAR segment is readjusted to a revised 19.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.2 Billion, While China is Forecast to Grow at 23.4% CAGR
The Automotive RADAR market in the U.S. is estimated at US$1.2 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.3 Billion by the year 2027 trailing a CAGR of 23.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 14.5% and 17% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 15.9% CAGR.We bring years of research experience to this 5th edition of our report. The 212-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others,