Automotive Radar Market Share , Size , Analysis , Growth , Trends and Forecasts , 2016 to 2024 | Hexa Research
Your Catalyst To a Lucrative Business
Automotive Radar Market Share , Size , Analysis , Growth , Trends and Forecasts , 2016 to 2024 | Hexa Research
" The global Automotive Radar Market is anticipated to reach nearly USD 9 billion by 2024 . The introduction of fully automated vehicles is projected to drive the industry by 2024 ."
The global automotive radar market is anticipated to reach USD 9 billion by 2024 . Introduction of fully automated cars and their growing importance in the automotive security & assembly industry can drive this market during the forecast period ( 2016-2024 ). Supportive governmental initiatives that mandate the integration of security & control systems in vehicles may positively affect market de mand . These mandates aim at reducing the number of road mishaps and associated casualties .
High sales of motor vehicles , particularly luxury vehicles , have also stimulated revenues considerably . Factors propelling the demand for motor vehicles are high consumer disposable incomes and low rates of interest . The introduction of Advanced Driver Assistance Systems ( ADAS ) in cars may create potential growth opportunities in the global Automotive Radar Market .
Automotive radars help reduce traffic jams by helping drivers with effective decision support . They help minimize human errors while driving thereby reducing the ratio of road accidents in the long run . This in turn decreases the extensive economic losses & fatalities associated with it . Moreover , these radars indirectly boost fuel efficiency by streamlining traffic control . This can augment market demand from 2016 to 2024 .
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