Automotive Radar Market Size, 2020 Industry Share and Global Demand

  Automotive Radar Market is expected to gain momentum by reaching USD 3131.5 million by 2027. This is attributable to the increasing adoption of advanced technology to develop innovative radar for automotive and the imposition of stringent vehicle safety regulations by the government across the globe. Fortune Business Insights, in its latest report, titled,  “ Automotive Radar Market Size , Share & COVID-19 Impact Analysis, By Range (Short-Range, Medium-Range, Long-Range), By Application (Adaptive Cruise Control, Autonomous Emergency Braking, Forward Collision Warning System, Blind Spot Detection, Intelligent Parking Assistance), and Regional Forecast, 2020-2027.” ,   observes that the market stood at USD 2313.1 million in 2019 and is projected to exhibit a CAGR of 6.5% between 2020 and 2027.   COVID-19 Results in Remarkable Reduction in R&D Funding The total halt of operations has led to massive economic losses for the automotive industry that is reeling under stagnant