Drone Service Market Forecast, Latest Innovations, Business Opportunities and Competitive Landscape | COVID-19 Effects

 Latest market study on "Drone Service Market to 2027 by Type (Fixed Wing, Rotary Wing, and Hybrid); Services (Surveying & Mapping, Delivery, and Aerial Photography); Industries (Real Estate/Infrastructure, Media & Entertainment, Agriculture, Industrial, and Law Enforcement) - Global Analysis and Forecast", the drone service market is estimated to reach US$ 24,882.2 Mn by 2027 from US$ 435.2 Mn in 2017. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.

The drone service providers offer various types of drones to the end user industries for several purposes such as surveying, mapping, inspection, cinematography, and goods delivery among others. These third- party service providers offer their customers a variety of drones ranging from fixed- wing drones, rotary wing drones, and hybrid drones. The rotary wing drones are the most attractive unmanned aerial vehicles for commercial use, and the same is expected to dominate the market for drone service over the next decade. The primary advantage of rotary wing drones is that these vehicles have the ability to VTOL (vertical takeoff and landing), thereby requiring smaller takeoff and landing area. Another strength of rotary wing drones to hover around and to execute agile maneuvering, which helps the rotary wing drones to attract customers from several industries. The rotary wing drones are majorly deployed for applications such as precision inspection, as these drones have the ability to hover in a particular region and inspect a single target for a more extended period. These capabilities have impressed various end- user industries, which has improved its adoption rate in the drone service market.

Moreover, the drone service providers opt for rotary wing drones attributing to the benefit that these drones are easier to transport from one place to another. The designs of these drones help the user or the operator to fold and pack into a smaller unit, which has attracted several drone service providers. The result of this is the increasing market size of drone service through rotary wing drones. Further, accounting to the compact size of the product as compared to fixed- wing drones, the rotary wing drones are less expensive. Coupling the lower price of the drones with a higher return on investment, the services providers tend to purchase these drones and offer their customers with rotary wings UAVs. These are the primary factor that has boosted the rotary wing drones in the drone service market in the past few years, and the same is expected to accentuate the demand in the coming years.

The global market for drone service is segmented on various parameters such as drone types, services, industries, and geography. Based on drone type, rotary wing drone segment dominates the market , and the same is expected to retain its dominance throughout the forecast period from 2019 - 2027. However, the hybrid drone segment is anticipated to escalate at a faster rate over the years. On the basis of service, the delivery segment is expected to witness significant growth rate in the coming years, owing to the gradual simplification of rules and regulation set by the governing authorities in different regions. Drone service market operates in an extremely fragmented industry with the massive number of smaller players capturing the market. Key players operating in the market are introducing attractive services and solution which is helping the companies to gain customer traction. The major companies offering drone services to different industries include Terra Drone Corporation, CyberHawk Innovations Limited, Drone Volt, Zipline, Aerodyne Group, Airinov, Sky Future, SkySpecs, Measure and Flirtey among others. Several other companies are also offering these services to different industries which are facilitating the drone services market to propel over the years.

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The report segments the global Drone Service market as follows:

Global Drone Service Market - By Drone Type
Fixed Wing Drone
Rotary Wing Drone
Hybrid Drone

Global Drone Service Market - By Service
Surveying, Mapping and Inspection
Delivery
Aerial Photography
Others

Global Drone Service Market - By Industry
Real Estate/Infrastructure
Media & Entertainment
Agriculture
Industrial
Law Enforcement
Others

Global Drone Service Market - By Geography

North America
U.S.
Canada
Mexico

Europe
France
Germany
Italy
Spain
UK
Rest of Europe

Asia Pacific (APAC)
Australia
China
India
Japan
Rest of APAC

Middle East and Africa (MEA)
Saudi Arabia
UAE
South Africa
Rest of Middle East and Africa

South America (SAM)
Brazil
Rest of South America

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Drone Service Market to 2027 - Global Analysis and Forecasts by Type (Fixed Wing, Rotary Wing, and Hybrid); Services (Surveying & Mapping, Delivery, and Aerial Photography); Industries (Real Estate/Infrastructure, Media & Entertainment, Agriculture, Industrial, and Law Enforcement)

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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Dietary Supplements Market Competitive Landscape, Market Analysis, Segmentation and Trends | COVID-19 Effects

 According to our latest market study on “Dietary Supplements Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Vitamins, Minerals, Proteins and Amino Acids, Probiotics, Blends, and Others), Form (Tablets, Capsules and Softgels, Powders, and Others), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others),’’ the market size was valued at US$ 214,165.30 million in 2021 and is projected to reach a market size of US$ 319,085.34 million by 2028; it is expected to grow at a CAGR of 5.9% from 2021 to 2028.

Dietary supplements contain various nutrients such as vitamins, minerals, proteins, amino acids, and probiotics. The dietary supplements are available in different forms, such as tablets, capsules and softgels, and powders. Dietary supplements help in fulfilling the specific nutritional requirement of an individual.

In recent years, health and fitness have picked up as trends due to the rising prevalence of various diseases and medical conditions such as cancer, cardiovascular disorders, diabetes, high blood pressure, obesity, and high cholesterol. People have become aware and concerned about their health and physique over the last few years. Dietary supplements contain dietary ingredients, which improve their nutritional worth. Many people use dietary supplements to help them lead a healthy lifestyle. Millions of people of various age groups, backgrounds, and geographies are embracing fitness worldwide to better their physical health and overall well-being, which is boosting the demand for dietary supplements substantially. For instance, according to Penn Medicine, more than one third of American citizens use supplements, with 30% of adults of age 65 and older taking four or more supplements of any kind.

Anona GmbH; Abbott; Amway Corp.; Bayer AG; Arkopharma; Bionova; Pfizer Inc.; Otsuka Holdings Co., Ltd.; GlaxoSmithKline plc.; and The Bountiful Company are among the key players operating in the global dietary supplements market. These companies are significantly investing in research and development to meet changing preferences of consumers, which would open lucrative growth opportunities in the coming years.

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Impact of COVID-19 Pandemic on Dietary Supplements Market Growth

The COVID-19 pandemic has had a mixed impact on the dietary supplement sector. Initially, the pandemic had a substantial impact on the dietary supplements market because of the decrease in manufacturing. The imposition of lockdown halted manufacturing activities, resulting in a decrease in supply. In addition, travel restrictions across the world made it difficult to transport raw materials, which impacted the worldwide economy negatively. However, the growth of the dietary supplements market surged during the COVID-19 outbreak as a result of studies claiming that dietary supplements can help enhance the immune system. According to a Nutrition Outlook report, the sales of dietary supplements increased during the pandemic since these supplements assist in combatting or improving the immune system against COVID-19. Furthermore, Glanbia PLC, a global nutrition company, reports that the purchasing of its dietary supplements in retail stores grew in April 2020.

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Dietary Supplements Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Vitamins, Minerals, Proteins and Amino Acids, Probiotics, Blends, and Others), Form (Tablets, Capsules and Softgels, Powders, and Others), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others) and Geography

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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Credit Insurance Market Developments Status, Analysis, Trend and Forecasts | COVID-19 Effects

According to the new research report published by The Insight Partners, titled “Credit Insurance Market Global Analysis and Forecast to 2025”, the global credit insurance market is expected to reach US$ 10.77 Bn in 2025, registering a CAGR of 2.9% during the forecast period 2017-2025.

In 2017, Europe accounted for the largest revenue share of more than one-third of the total market share, followed by North America.

Strong domestic trade policies, presence of good manufacturing industries for different industry verticals, high awareness and stable Governmental policies on the trade carried out in the region are some of the prime factors that have facilitated the high penetration of credit insurance in this region.

Credit insurance market is broadly segmented into components, enterprise size, and application. The companies operating in the global credit insurance market design robust products and services depending upon the requirements of their customers or clients. The global credit insurance market is further bifurcated on the basis of enterprise size as small & medium enterprises (SMEs) and large enterprises. The large enterprises capture a significant market share in the global credit insurance market over the years. The different types of applications of credit insurance include domestic trading market and export trading market. The export segment in the applications is much more prominent, and the demand for credit insurance products and services are gaining importance in the domestic market in the current years.

The primary benefit of credit insurance which attracts the consumers is that the insurance policies protect the companies from non-payment of commercial debts. The global trade sector is experiencing significant growth in both the domestic market as well as international market, with Europe and North America being the leaders in the exporting various goods and products.   

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Key findings of the study:

• Europe is anticipated to account the largest share of credit insurance market and would register a CAGR of 2.1%.
• Based on the component type, products segment is projected to dominate the market.

Europe holds the second largest market share owing to its strong economy and developed infrastructure to support upcoming technological trends in almost all industry sectors and a stable regulatory framework laid down to carry domestic as well as international trades.  The domestic trade between the EU countries is carried without any taxation or charges and is considered to be one of the strongest principles for this region. The EU is the biggest exporter in the world for manufactured goods and services as well as is the biggest import market for more than 100 countries of the world.

Growing trade of South East Asian countries with the Western countries of the world provides huge potential for the credit insurance market to prosper. South China Sea has been an important hub for carrying trade between the Asian and western countries and thereby opportunities in this region for the players is ample in the coming years.

The key companies profiled in this report include Atradius N.V., Coface SA, Euler Hermes, Zurich Insurance Group Ltd., Credendo Group, QBE Insurance Ltd., CESCE, American International Group Inc., Export Development Canada, and China Export & Credit Insurance Corporation (Sinosure).

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Credit Insurance Market to 2025 - Global Analysis and Forecasts by Component (Products, and Services); Enterprise Size (Small & Medium Enterprise, and Large Enterprise); & Application (Domestic, and Export)

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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Clean Energy Market Size, Share, Growth and Forecast to 2027 | COVID-19 Effects

 Clean Energy Market Forecast to 2027 – COVID-19 Impact and Global Analysis by Type (Hydro and Ocean Power, Solar Energy, Bioenergy, Geothermal Energy, and Wind Energy) and End User (Residential, Commercial, and Industrial), the market was valued at US$ 479.62 Bn in 2019 and is projected to reach US$ 1,229.74 billion by 2027; it is expected to grow at a CAGR of 13.0% from 2020 to 2027.The report highlights the key factors driving the market growth and prominent players with their developments in the market.

Clean energy is an essential segment in the European Union's (EU) energy system. Demand for clean energy solutions is growing across Europe owing to increasing adoption of technology-based solutions among businesses. The share of clean energy consumption in gross energy consumption rose to 18% in 2018 from 8.5% in 2004. The Europe 2020 strategy targets to lift this share to 20% by 2020 and at least 32% by 2030. The figures are projected by considering the use of all forms of energy across three key sectors heating and cooling, electricity, and transportation. Europe was one of the largest contributors to wind and solar energy in the first half of 2020 globally.

The European Union (EU) is trying to make Europe the first climate-neutral continent by 2050. Thus, to meet this target, the European Green Deal emphasizes the offshore clean energy. Front-load investments in offshore clean energy are important in the recovery period of the COVID-19 pandemic, where possible. This is likely to boost sustainable jobs and economic activity, which would contribute to the green recovery, and drive the clean energy market growth. By the end of 2020, the European Commission would put forward a dedicated strategy to ensure that offshore clean energy can help achieve the EU's ambitious energy and climate targets, assessing its potential contribution and proposing ways forward to support the long-term sustainable development of this sector.

US Continues to Dominate North America Clean Energy Market

According to the US Energy Information Administration, clean energy accounted for ~11% of total primary energy consumption in the country and ~17% of the domestic electricity production in 2018. The US’s Hydroelectric power is among the largest clean electricity producers; it generated ~6.5% of the nation's total electricity in 2016 and 45.71% of this was generated using clean energy sources. After China, Canada, and Brazil, the US is the fourth-largest hydroelectricity producer across the world.

According to Electric Power Annual 2018 capacity projections, the expected changes in energy generating capacity through clean fuel sources would increase to 55,873 GW of capacity coming by the beginning of 2024. By 2024, this would avail a total of 277.77 gigawatts of clean energy, 23.1% increase than that in 2018. In 2023,

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The report segments the global clean energy market as follows:-

By Type

• Hydro and Ocean Power
• Solar Energy
• Bioenergy
• Geothermal Energy
• Wind Energy

By End User

• Residential
• Commercial
• Industrial

By Geography

• North America
• US
• Canada
• Mexico
• Europe
• UK
• Germany
• France
• Italy
• Russia
• Rest of Europe
• Asia Pacific (APAC)
• China
• India
• Japan
• Australia
• South Korea
• Rest of APAC
• Middle East and Africa (MEA)
• Saudi Arabia
• UAE
• South Africa
• Rest of MEA
• South America (SAM)
• Brazil
• Argentina
• Rest of SAM

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Clean Energy Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type (Hydro and Ocean Power, Solar Energy, Bioenergy, Geothermal Energy, and Wind Energy) and End User (Residential, Commercial, and Industrial), and Geography

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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Butyric Acid Market Size, Share, Growth, Latest Trends, Global Forecast 2028 | COVID-19 Effects

 The butyric acid market was valued at US$ 183.48 million in 2021 and is projected to reach US$ 484.55 million by 2028; it is expected to grow at a CAGR of 14.9% from 2021 to 2028.

Butyric acid is a colorless liquid with a penetrating and unpleasant odor. The butyric acid market is a competitive one due to the presence of many domestic and global players. Market players adopt strategies such as research and development investments, and new product innovations to gain an edge over their competitors.

Based on application, the global butyric acid market is segmented into printing inks, animal feed, food flavors and food fragrances, chemical intermediates, pharmaceutical, and others. The animal feed segment held the largest share of the market in 2020. The butyric acid market for the animal feed segment is growing at a significant rate due to the rising demand for quality meat products across the world.

The global butyric acid market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South & Central America. Asia Pacific held the largest market share in 2020.  In Asia Pacific, there is a growing number of livestock farms because of the increased demand for superior-quality meat products due to improving per capita income and growing health consciousness among people in several Asia Pacific countries. This is subsequently leading to the proliferation of the market.

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Impact of COVID-19 Pandemic on Butyric Acid Market

Many economies were adversely affected due to the COVID-19 pandemic. The butyric acid market in North America also experienced the tremors of the disturbed raw material supply chains and limited operational efficiencies. The disruptions in the raw material supply chain and reduced demand from the downstream sectors has adversely impacted the growth of the market. In Europe, animal feed production fell because the pandemic affected consumer demand for products of animal origin. In Europe, during the Q3 of 2021, the prices of butyric acid escalated due to the recovery of the various industrial activities.

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The report includes the segmentation of the global butyric acid market as follows:

Based on source, the global market is segmented into renewable butyric acid and synthetic butyric acid. Based on application, the market is segmented into printing inks, animal feed, food flavors and food fragrances, chemical intermediates, pharmaceutical, and others. By geography, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South & Central America. North America includes countries like the US, Canada, and Mexico. Europe includes Germany, France, the UK, Italy, Russia, and the Rest of Europe. Asia Pacific includes China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The Middle East & Africa (MEA) includes South Africa, Saudi Arabia, UAE, and the Rest of MEA. South & Central America includes Brazil, Argentina, and the Rest of South & Central America.

Butyric Acid Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Source (Renewable Butyric Acid and Synthetic Butyric Acid) and Application (Printing Inks, Animal Feed, Food Flavors and Food Fragrances, Chemical Intermediates, Pharmaceutical, and Others)

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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Bioreactors Market Growth, Future Scope, Challenges, Opportunities, Trends, Outlook And Forecast To 2027 | COVID-19 Effects

 The bioreactors market was valued at US$ 2,958.50 million in 2019 and is projected to reach US$5,169.01 million by 2027; it is expected to grow at a CAGR of 7.3% from 2020 to 2027.

Market Overview:

The report highlights the trends prevalent in the global bioreactors market and the factors driving the market along with those that act as deterrents to its growth. The market is expected to grow due to due to increasing healthcare expenditures research and development as well as outsourcing services, however, the availability of alternative virus clearance methods is hindering the market.

Single-use bioreactors (S.U.B.) are developed from various manufacturers which is robust and provides high-performance that is necessary for commercial manufacturing of biopharmaceuticals. Many advantages offered in film technologies, bioreactor designs, stirring mechanisms, and sensor systems have contributed to the increasing adoption of disposable reactors from the lab to production scale. The single-use bioreactors are helpful in providing next-generation cell- and gene-therapies and continuous bioprocessing. The betterments and improvements in cell-culture processes have developed higher titers and cell densities, which have facilitated the adoption of single-use bioreactors through reductions in needed reactor volumes. The single-use technologies have gained the widespread acceptance with the support from regulators. While existing cGMP processes are using stainless steel infrastructure, many new products are directly into single-use production equipment. The increasing acceptance of the single use bioreactors are rising the production of the bioreactors and eventually increasing the market of the bioreactors.

Global bioreactors market, based on the application was segmented into microbial application and cell culture. In 2017, microbial segment held the largest share of the market, by application. Moreover, the microbial segment is expected to grow at the fastest rate during the coming years as microbial cultures are being used on a large scale for research purposes as well as industrial applications. Growth in the number of biotechnology companies and rise in research funding offered by government bodies are considered to be the factors driving the growth of the segment during the forecast period.

Some of the prominent players operating in bioreactors market are Thermo Fisher Scientific Inc., Applikon Biotechnology BV, Merck KGaA, Sartorius AG, Eppendorf, General Electric, Bioengineering AG, Solaris Biotechnology Srl, Danaher (Pall Corporation), and Praj Industries. The market players are focused towards expanding their manufacturing and services capabilities by opening new manufacturing plants and service portfolio. For instance, in July 2018, Merck expanded its operations in Gillingham, UK to expand distribution centre for Life Science products to support future business growth. Similarly, Bioengineering opened its new branch-office in South Korea in June, 2018. This has helped the company to have a strong presence in the Asian countries.

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The report segments the global bioreactors market as follows:

 

·         Global Bioreactors Market – By Product Class

• Benchtop (up to15L) Bioreactors
• Pilot Scale (15-1000L) Bioreactors
• Industrial Scale(>1000L) Bioreactors

·         Global Bioreactors Market – By Application

• Microbial Application
  • Multi-Use Bioreactors
    • Glass Bioreactors
    • Stainless Steel Bioreactors
  • Single-Use Bioreactors
• Cell Culture Application
  • Multi-Use Bioreactors
    • Glass Bioreactors
    • Stainless Steel Bioreactors
  • Single-Use Bioreactors

·         Global Bioreactors Market – By Geography

• North America
  • S.
  • Canada
  • Mexico
• Europe
  • K.
  • Germany
  • France
• Asia Pacific (APAC)
  • Japan
  • China
  • India
  • Thailand
  • Singapore
  • Malaysia
• Middle East & Africa (MEA)
  • South Africa
  • UAE
  • Saudi Arabia
  • Egypt
• South & Central America (SCAM)
  • Brazil
  • Argentina

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Bioreactors Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Cell (Mammalian Cells, Bacterial Cells, Yeast Cells, Others); Molecule (Monoclonal Antibodies, Vaccines, Recombinant Proteins, Stem Cells, Gene Therapy, Others); Technology (Wave-Induced Motion SUB, Stirred SUB, Single-Use Bubble Column, Others); End User (Research and development organizations, Biopharma Manufacturers, Contract Manufacturing Organizations (CMOs)), and Geography

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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Automotive Radar Market Key Findings, Regional Analysis, Top Key Players, Profiles and Future Prospects | COVID-19 Effects

 Automotive Radar Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Range (Long Range Radar (LRR), Medium Range Radar (MRR), Short Range Radar (SRR)), Frequency (24GHz, 77GHz, 79GHz), Application (Adaptive Cruise Control, Autonomous Emergency Braking, Blind Spot Detection, Forward Collision Warning System, Intelligent Park Assist, Others), and Vehicle Type (Passenger Cars, Light Commercial Vehicles, Medium and Heavy Commercial Vehicles), and Geography, the market was valued at US$ 5,019.01 million in 2019 and is projected to reach US$ 11,640.77 million by 2027; it is expected to grow at a CAGR of 14.9% from 2020 to 2027. 

APAC led the global Automotive radar market with over 30% revenue share in 2019, followed by Europe. The automotive radar market in APAC is sub segmented into China, India, Japan, South Korea, and the Rest of APAC. The Asia Pacific automotive radar market is expected to grow at a significantly higher CAGR during 2020–2027. Government initiatives—such as “Made in China 2025” and “Make in India”—are catalyzing the growth of the automotive sector in the region. Improvements in infrastructure, increase in domestic consumption, and low labor costs in Southeast Asian countries are the key factors attracting automotive companies to this region. Increasing efforts by automotive giants in the optimization of automated cars is expected to significantly drive the sale of electric vehicles in APAC countries such as India, Malaysia, Singapore, and Thailand. APAC comprises major automotive manufacturers such as Hyundai-Kia, Suzuki, Mitsubishi, Tata Motors Limited, Lexus, and Toyota. Moreover, the governments of various countries in APAC are taking initiatives for the development of the automotive sector; for instance, under Union Budget 2019–2020, the Government of India announced its plans to set up R&D centers at an expenditure of US$ 388.5 million to enable the automotive sector to meet the global standards. Such government initiatives and strong automotive manufacturing sector in different countries are expected to support the growth of the automotive radar market in the region in the coming years. APAC countries are increasingly implementing intelligent transport systems (ITS) as they improve road safety, ensure smoother traffic, reduce environmental burdens, and stimulate regional economic activity. The advancements in transportation systems, along with the mounting importance of car safety, are propelling the adoption of advanced technologies such as automotive radar in vehicles.

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In 2019, Germany and rest of European countries estimated to be the key countries contributing to the European automotive radar market growth. In 2019, the region witnessed promising results of tech investments despite the economic slowdowns in the UK and EU. Over the past 5 years, capital investments in the European technology sector has grown by 124%, with a 39% increase in 2018–2019 alone; in 2019, the investments reached US$ 34.3 billion. Western Europe is characterized by the high standards of living, and it is one of the richest regions on the continent. The automotive manufacturers have 304 vehicle assembly plants and production plants in 27 countries in Europe. In 2019, more than 3 million units of commercial and passenger vehicles were produced at these sites. Thus, the growing production of commercial and passenger vehicles is boosting the demand for radar systems.

A disciplined approach by EU through the reinforcement of measures for halving the total road accidents and deaths is another factor escalating the adoption of automotive radar systems in the region. Short range radar systems are being extensively used in luxury cars that are on road in the region. Additionally, the EU is now promoting 76–79 GHz radar frequency, thereby creating extended growth opportunities for OEM manufacturers. As per spectrum regulations and standards developed by the ETSI and the FCC, c the UWB band of 24 GHz frequency range would be phased out of Europe by the beginning of 2022.

Impact of COVID-19 Pandemic on Automotive Radar Market

Automotive sales profoundly influence the overall growth of several associated vehicle sub-systems and components market, including the automotive radar market. As the COVID-19 pandemic affected numerous industrial verticals and global business conditions, automotive sales observed a sharp decline during the April–June period across various geographical regions. Factors such as nationwide lockdown, plummeting demand for passenger vehicles, and restrictions on import & export of goods created a slowdown in several automotive OEMs' production capabilities, therefore affected the market growth. However, the market did register a steady and favorable recovery following the subsequent months upon sales of passenger vehicles picking up the growth, especially in the recent months. Hence, the global market witnessed a moderate to a high contraction in demand across various countries globally during the pandemic.

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The global automotive radar market has been segmented as follows:

Automotive Radar Market – by Range

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

Automotive Radar Market – by Frequency

• 24 GHz
• 77 GHz
• 79 GHz

Automotive Radar Market – by Application

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

Automotive Radar Market – by Vehicle Type

• Passenger Cars
•  Light Commercial Vehicles
• Medium and Heavy Commercial Vehicles

 

Automotive Radar Market- by Region

• North America

• US
• Canada
• Mexico

• Europe

• Germany
• France
• Italy
• UK
• Russia
• Rest of Europe

• Asia Pacific (APAC)

• China
• India
• Japan
• South Korea
• Rest of APAC

• Middle East and Africa (MEA)

• South Africa
• Turkey
• Rest of MEA

• South America (SAM)

• Brazil
• Argentina
• Rest of SAM

Automotive Radar Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Range (Long Range Radar (LRR), Medium Range Radar (MRR), Short Range Radar (SRR)), Frequency (24GHz, 77GHz, 79GHz), Application (Adaptive Cruise Control, Autonomous Emergency Braking, Blind Spot Detection, Forward Collision Warning System, Intelligent Park Assist, Others), and Vehicle Type (Passenger Cars, Light Commercial Vehicles, and Medium and Heavy Commercial Vehicles)

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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If you have any queries about this report or if you would like further information, please contact us:

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Phone: +1-646-491-9876