Latin America Market Insights on Automotive Radar: Insights and Forecast (2018-2024)

Analysing historical market, estimation of the current market and forecasting the future market for Latin American Automotive Radar technology were the three major steps involved in creating and analysing the overall adoption rate of Automotive Radar in major Latin American countries. Exhaustive secondary research was conducted to collect the historical market of the technology and overall estimation of the current market. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted with industry experts across value chain of the Automotive Radars market. After all the assumption, market sizing and validation of market numbers through primary interviews, top-down approach was employed to forecast the complete market size of the Latin American Automotive Radar market. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyse the market size of segments and sub-segments of the Latin American automotive radar market. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Latin American Automotive Radar Market through company internal sources such as annual report & financial statements, performance presentations, press releases, inventory records etc. and external sources including trade journals, news & articles, government publications, economic data, competitor publications, sector reports, regulatory bodies publications, safety standard organizations, third-party database and other creditable publications. For vehicle production and sales related data International Organization of Motor Vehicle Manufacturers was used.

Step 2: Market Segmentation:

After obtaining historical market size of the overall market, detailed secondary analysis was conducted to gather historical market insights and share for different segments & sub-segments of the Latin American Automotive Radar Market. Major segments included in the report are sensor type, radar range, frequency bands, application, and vehicle type. Further analysis was also done for sub-segments of the major segments of the Latin American Automotive Radar Market.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, detailed factor analysis was conducted to estimate the current market of the Latin American Automotive Radar technology. Factor analysis was conducted using dependent and independent variable such as the Changing vehicle safety regulation, increasing adoption of advanced driver assistance system (ADAS) technology and increasing number of radar sensors used per vehicle. Stringent government regulations, mandating rear-view camera system and lane departure warning technologies in vehicles which has also stimulated the growth of the automotive radar technology were considered while conducting the study. Historical trends of the Latin American Automotive Radar Market and their year-on-year impact on the market size and share in the recent past was analyzed. Demand and supply side scenario was also thoroughly studied.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at current market size, key players in major applications and markets, market shares of these players, industry’s supply chain, and value chain of the industry. All the required percentage shares, splits, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including drivers, restraints, and trends and opportunities available in the market. After analyzing these factors, relevant forecasting techniques i.e. Bottom-up/Top-down was applied to arrive at the market forecast pertaining to 2024 for different segment and sub-segments in major Latin American countries. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size of the Latin American automotive radar technology, in terms of value (US$) and the overall rate of adoption of Automotive Radars technology in major Latin American country


• All percentage shares, splits, and breakdowns of market segments and sub-segments


• Key players in major applications and markets as well as market share of each players. Also, the growth strategies adopted by these players to compete in the ever-growing Latin American automotive radar technology market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head etc.). Primary research findings were summarized, and statistical analysis was performed to prove the stated hypothesis. Input from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants

Market Engineering

Data triangulation technique was employed to complete the overall market engineering process and to arrive precise statistical numbers of each segment and sub-segment pertaining to the Latin American Automotive Radar Market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of sensor type, radar range, frequency bands, application and vehicle type

Main objective of the Latin American Automotive Radars Market Study

The current & future market trends of the Latin American Automotive Radar market are pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market, providing a platform for the industrial participant to exploit the untapped market to benefit as first mover advantage. Other quantitative goal of the studies includes:

• Analyse the current and forecast market size of Latin American Automotive Radar Market in terms of value (US$)


• Analyse the current and forecast market size of different segments and sub-segments of the Latin American Automotive Radar technology. Segments included in the study are sensor type, radar range, frequency bands, application, and vehicle type


• Define and describe the technologies and protocols used in Automotive Radar technology


• Anticipate potential risk associated with the technology and customer and competitor analysis among others


• Define and analysis of the government regulations for Automotive Radar in major Latin American countries


• Analyse the current and forecast market size of the Latin American automotive radar market, in terms of value for major Latin American countries including Brazil, Argentina, Chile and Rest of Latin America

Defile and analyse the competitive landscape of the Latin American Automotive Radar market and the growth strategies adopted by the market players to sustain in the ever-growing market