The global automotive laser radar detection systems market is anticipated to grow at a significant CAGR of 11.8% during the forecast period (2022-2028). Due to an increase in the number of road accidents globally, demand for laser radar detection systems for safety features such as parking assistance, collision avoidance systems, lane departure warnings, traction control, airbags, and telematics is on the rise. Automotive laser radar detection systems are a key component of advanced driver assistance systems (ADAS), which can identify and classify certain items on the road and notify the driver of their surroundings and road conditions as a result. Furthermore, depending on the road conditions, these systems can automatically decelerate or stop the car. Road traffic accidents are a leading cause of mortality globally. There has been a significant increase in the number of people killed in car accidents. Automobile manufacturers are developing and adopting safety features to fulfill the demands of their customers.
For its cheaper cost, laser radar is becoming more common. In addition, laser radar provides more accurate and thorough data. The key difference between the procedures is the level of fusion. Low-level categorization transforms unprocessed data from multiple sensors into a new set of raw data that can then be processed. Medium-level fusion algorithms use the many patterns provided by the sensors (corners, forms, colors, movements, etc.) and classify them accordingly.
Consumers today are leaning toward comfort when driving. Manufacturers are introducing safety technologies that utilize automotive radars in high-end cars, such as adaptive cruise control and parking help systems, to provide more comfort to drivers. The driver, on the other hand, has the ability to override the system at any time. Other systems, like night vision systems and others that assist the driver with lateral vehicle control, are still being developed. These systems use automotive laser radar detecting systems to detect the vehicle’s surroundings with high accuracy and precision. Due to a boom in consumer spending power, the demand for driver assistance applications has increased dramatically in recent years, influencing people to modify their driving habits.
Some major players in the market include Adaptiv Technologies, Beltronics, K40 Electronics, Robert Bosch GmbH, and The Whistler Group, Inc., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, Adaptiv Technologies offers TPX Radar and Laser Detection System 2.0 (A-01-01). The TPX Radar and Laser Detection System is water, shock, and vibration resistant, making it ideal for motorcyclists. The Detector Unit has bigger buttons to make it easier to use when wearing riding gloves. Its big, slanted, top-positioned LCD is clearly accessible in direct sunlight and facilitates viewing from all riding postures.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Adaptiv Technologies, Beltronics, K40 Electronics, Robert Bosch GmbH, The Whistler Group, Inc., among others.
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Global Automotive Laser Radar Detection Systems Market Report by Segment
By Type
- Laser Technology
- Radar Technology
- Optical Scanning
- Control Technology
By Application
- Passenger Vehicles
- Commercial Vehicles
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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