Automotive Radar Market to Garner US$ 12.4 Billion Globally by 2027 at 23.01% CAGR | IMARC Group
Automotive radar is a technology that uses radio waves to detect and locate objects in a vehicle's immediate environment, providing drivers with a better understanding of their surroundings. It typically transmits radio waves from the radar transmitter that bounce off nearby objects. The reflected waves are detected by the radar receiver, which is then used as information to calculate the distance, speed, and location of the detected objects. The components of an automotive radar system include a radar transmitter, a radar receiver, and a signal processing unit. It offers various advantages, including improved safety, better situational awareness, and increased driver confidence. Currently, the product is available in two variants, including long-range radar (LRR) and short-range radar (SRR). The global automotive radar market size reached US$ 3.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 12.4 Billion by 2027, exhibiting a growth rate (CAGR) of ...