The Latin America automotive radar market is anticipated to gain the market worth of US$ 747.73 million by 2025
The Latin America automotive radar market is anticipated to gain the market worth of US$ 747.73 million by 2025, expanding at a CAGR of 30.3% during the forecast period 2019-2025. Short-range & medium-range radar (S&MRR) and long-range radars (LRR) are the major types of radar-based on their range of clear visibility. In 2018, S&MRR dominated the Latin America automotive radar market and is anticipated to generate a market size of US$ 457.99 million by 2025. On the other hand, the LRR segment is anticipated to expand at the highest CAGR growth of 33.0% during the analyzed period. Changing vehicle safety regulation, increase in adoption of advanced driver assistance system (ADAS) technology and increasing the number of radar sensors used per vehicle is the major growth drivers for the Latin America automotive radar market. Stringent government regulations, mandating rear-view camera system and lane departure warning technologies in vehicles has also stimulated the growth of the technology in several countries. In addition, growing adoption of ADAS technology across mid-priced and premium segment vehicle has further fueled the growth of the market at a global scale.
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The growing governmental regulations on vehicle security and mandating of certain ADAS features in vehicles are helping widespread adoption of radar across several application areas in a vehicle. Adaptive cruise control, autonomous emergency braking, intelligent parking systems, blind-spot detection, collision mitigation system and others are the major application area of radar technology analyzed in the study. Adaptive cruise control dominated the market with a market size of US$ 38.52 million in 2018 and is expected to maintain its dominance during the forecast period 2019-2025. The AEB application area is predicted to grow at the highest CAGR of 34.4% during the forecast period. 2X and 7X GHz are the two major frequency bands, which are widely used in the vehicles, as they play a crucial role in determining the effectiveness of the radars in advance safety systems. 2X GHz band dominated the market in 2018. However, by 2021 7X GHz frequency band is expected to overtake the 2X GHz band, to become the largest selling frequency band radar system. 7X GHz radar sensor can achieve 20 times better performance in range resolution, thus improving environmental modelling and object classification. Owing to this the overall adoption of 7X GHz in the vehicle is expected to increase rapidly, making them the fastest-growing frequency band during the forecast period.
For country-level analysis of the overall adoption of Radar technology in vehicles browse through- https://univdatos.com/report/latin-america-automotive-radar-market/
Additionally, radar is rapidly capturing every segment of vehicles manufactured, including passenger vehicles, luxury vehicles and commercial vehicles. Luxury brands such as Audi, BMW, Lexus, land Rover and Mercedes-Benz among others are deploying radar in applications such as automated parking, adaptive cruise control system, and adaptive cruise control system. Similarly, the growing interest of customers for advance safety features across the passenger vehicle segment has forced the Latin America car manufacturers to install this technology in their upcoming...
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