Automotive industry of Middle East and North Africa (MEA) is a key industry sector. The rising population in these regions have increased the demand of automobiles on the road for transportation. In addition to this, high per capita income in some of the countries of the Middle East due to the presence of the world's largest deposits of oil and natural gas resources implies high buying capabilities of the consumers. Owing to which there is a high demand of vehicles equipped with advanced safety and luxury features. In addition to high per capita income and high demand of luxury vehicles, upgradation of sensor technology in the region is also propelling the automotive radar market. On the other side, high installation costs of the radar systems and cost sensitive economies in Africa are identified as the major restraints hampering the market growth. However, the increasing focus towards autonomous car in Middle East and energy North African market are expected to be the potential business opportunity areas in the region.

Insights Presented in the Report:

Automotive radar market of Middle East and North Africa is segmented based on the range of the radar that includes short and medium range radar (S&MRR) and long range radar (LRR). S&MRR segment dominated the market in 2017 with the market value of $150.07 million in 2017 and is expected to remain the highest during the forecast period (2018-2024).
Based on different application areas, the market is categorized as Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Intelligent Parking System (IPS), Blind Spot Detection (BSD), Collision Mitigation System (CMS) and others. Among these application areas, adaptive cruise control as estimated to hold the largest market value and is expected to continue its dominance over the forecast period. On the other hand, autonomous emergency braking application is anticipated to be the fastest growing application area during the forecast period.

The study further includes the segmentation across different frequency bands that include 24 GHz and 77 GHz. It is estimated that between 2014 and 2020, 24 GHz segment held the largest market share however by 2021, the market value of 77 GHz radars are anticipated to exceed the market value of 24 GHz segment and will remain in the same position by the end of forecast period.
Middle East and North Africa's automotive radar market is also fragmented across different vehicle types that include passenger vehicles, luxury vehicles and commercial vehicles. Under this segment, passenger vehicles held the highest market value and the same is anticipated to follow during the forecast period as well. Adding to this, the increase in demand of luxury vehicles due to high per capita income in Middle East is expected to bolster the market of luxury vehicles segment making it to grow with the highest CAGR of 29.5% during the forecast period.

For an in-depth analysis of the Middle East and Africa automotive radar market, the country level analysis is also incorporated in the study. The segment includes the major countries such as the UAE, Saudi Arabia, Algeria, Kuwait, Egypt, Qatar, and Rest of Middle East and North Africa. Saudi Arabia dominated the market in 2017 and was valued at $48.67 million, followed by the UAE and Egypt. During the forecast period Kuwait is expected to be the fastest growing economy with a CAGR of 32.5%. The growth of Kuwait is majorly influenced by the significant technological advancement and increased demand for ADAS equipped vehicle by end consumers within the country.
Top Companies Profiled:

Some of the major players profiled in the report include Continental AG, Robert Bosch GmbH, Denso Corporation, Delphi Automotive Plc, Infineon Technologies AG, NXP Semiconductors NV, Valeo SA, Analog Devices Inc., Hella KGaA Hueck and Co, and Texas Instruments Inc.

Reasons to buy the Report:

The study includes market sizing and forecasting analysis validated by authenticated key industry experts
The report presents a quick review of overall industry performance at one glance
The report covers in depth analysis of prominent industry peers with primary focus on key business financials, product portfolio, expansion strategies and recent developments
Detailed examination on drivers, restraints, key trends and opportunities prevailing in the industry.
Examination of industry attractiveness with the help of Porter's Five Forces analysis
The study comprehensively covers the market across different segments
Deep dive regional level analysis of the industry

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The post MENA Market Insights on Automotive Radar: In-Depth Industry Analysis on Size, Cost Structure and Prominent Key Players Analysis and Forecast: 2022-2031 appeared first on Comserveonline.