South America Automotive Radar Market is expected to reach US$ 1,634.4 million by 2027

Intelligent Park Assist Segment is Expected to be Fastest Growing Segment During Forecast Period for SAM Region

According to a new market research study on “SAM Automotive Radar Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Deployment and Application” is expected to reach US$ 1,634.4 million by 2027 from US$ 751.5 million in 2019. The market is estimated to grow at a CAGR of 14.0% from 2020 to 2027. The report provides trends prevailing in the SAM automotive radar market along with the drivers and restraints pertaining to the market growth. Surging necessity for advanced imaging radar is the major factor driving the growth of the SAM automotive radar market. However, challenges involved with radar sensor calibration and validation hinders the growth of SAM automotive radar market.

The SAM automotive radar market is segmented by range, frequency, application, vehicle type, and country. Based on range, the SAM automotive radar market is segmented into long range radar, medium range radar, and short range radar. Short range radar segment is expected to lead the market throughout the forecast period.  Based on frequency, the SAM automotive radar market is segmented into 77 GHz, 77 GHz, and 79 GHz. 24 GHz is expected to dominate the market in 2019. Based on application, the SAM automotive radar market is segmented into adaptive cruise control, autonomous emergency braking, blind spot detection, forward collision warning system, intelligent park assist, and others. The adaptive cruise control segment is anticipated to dominate the market by 2027. Based on vehicle type, the SAM automotive radar market is segmented into passenger cars, light commercial vehicles, and medium & heavy commercial vehicles. The passenger cars segment is expected to hold over major the market share based on vehicle type from 2019 to 2027.

The ongoing COVID-19 outbreak is negatively impacting SAM. Due to the presence of most of the automotive manufacturing capabilities of Brazil, SAM witnessed a limited impact despite slower demand for passenger vehicle sales. As per the Brazil automaker’s association, it is anticipated that the sales of automotive will recover to pre-COVID-19 levels by 2025. Also, several automakers in the country have witnessed a sharp decline in their production capabilities. According to Anfavea, the automakers association, the automotive production is expected to witness a fall of 45% in 2020 as compared to 2019. Also, the auto exports are expected to see a decline of 53% for the same duration. Moreover, recently, Ford Motors announced the closure of its three production facilities, It also announced that it will stop manufacturing operations in SAM. The COVID–19 pandemics would have a short-term impact on the SAM automotive radar market; however, it is anticipated that the market will recover in the coming years.

Aptiv Plc, Continental AG, Denso Corporation, HELLA KGaA Hueck & Co., Nidec Corporation, Robert Bosch GmbH, Valeo, Veoneer Inc, and ZF Friedrichshafen AG are among the leading companies in the SAM automotive radar market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Aptiv Plc introduced next generation level 1-3 capable ADAS platform. This ADS solution is cost effective and efficient.

The report segments the SAM Automotive Radar Market follows:

 SAM Automotive Radar Market – By Range

• Long Range Radar (LRR)
• Medium Range Radar (MRR)
• Short Range Radar (SRR)Cloud

SAM Automotive Radar Market – By Frequency

• 24 GHz
• 77 GHz
• 79 GHz

SAM Automotive Radar Market – By Application

• Adaptive Cruise Control
• Autonomous Emergency Braking
• Blind Spot Detection
• Forward Collision Warning System
• Intelligent Park Assist
• Others

SAM Automotive Radar Market – By Vehicle Type

• Adaptive Cruise Control
• Passenger Cars
• Light Commercial Vehicle
• Medium & Heavy Commercial Vehicles

SAM Automotive Radar Market – By Country

• Brazil
• Argentina
• Rest of SAM