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Automotive Integrated Radar and Camera (IRC) Market: Evolution

The strides in the automotive integrated radar and camera (IRC) market have stemmed from relentless focus of automotive companies in equipping vehicles of all types with active safety features. The integrated radar and camera system packs radar sensing, vision technologies, and data fusion. The assortment of technologies packaged as standard features has enriched the consumer propositions in the automotive IRC market. Continuous technological advancements in driver assistance systems have enabled automakers to meet stringent safety requirements for passenger as well as commercial vehicles.

Some of the key functionalities that IRC might include are adaptive cruise control, forward collision warning, autonomous braking for pedestrians, lane-departure warning, and forward collision warning. A number of sensors are used in the system, notably radial, image, and LiDAR sensors.

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Automotive Integrated Radar and Camera (IRC) Market: Drivers, Current Prospects, Lucrative Avenues

The growing demand for technologically-advanced standard safety package is a key driver for the automotive integrated radar and camera (IRC) market. The advent of next-gen hardware systems and electronics is a key trend that has expanded the options for automakers in the market. The increasing trend of miniaturization of electronics is bolstering the prospects in the automotive integrated radar and camera (IRC) market. The increasing implementation of driver assistance systems in passenger vehicles has bolstered the revenue prospects for players in the automobile and automotive industry. The rise in number of accidents has spurred the attention for players.

Over the years, extensive efforts in towards standardization has extended the canvas for players to reap steady revenue gains during the forecast period of 2021 – 2031. A number of millimeter-wave integrated radar systems and techniques has witnessed the path of commercialization, thus benefitting players in the automotive integrated radar and camera (IRC) market.

Automotive Integrated Radar and Camera (IRC) Market: Competition Landscape and Key Developments

A vast avenue in the market stems from the emphasis of automotive players to incorporate ADAS to help meet safety features. Original equipment manufacturers are adopting IRC technologies in a bid to adhere to various regional safety ratings, notably Euro NCAP 5-star ratings. These technologies are likely to become a part of the various safety feature systems for globally prominent automakers in the automotive integrated radar and camera (IRC) market.

The Volvo Group (Volvo Cars) has recently incorporated Delphi’s integrated Radar and Camera Sensor Fusion System in its Volvo XC90 car to meet the next-gen safety standards. The benefits include, one of the globally prominent automakers claims, adaptive cruise control, forward collision warning, autonomous braking, and lane-departure warning. The differentiating feature is the perhaps Delphi’s second generation 76GHz short range radar for blind spot detection. Other automotive companies are anticipated to expand the suite of advanced driver assistance systems, thereby opening new frontiers in the automotive integrated radar and camera (IRC) market. Volo also prides itself for integrating Volvo Scalable Product Architecture platform in its Volvo XC90. Other automakers are also striving for such unique designs, which will help reap end consumers gain robust safety and convenience.

Some of the key players in the automotive integrated radar and camera (IRC) market are AV Stumpfl, Vivitek, ViewSonic Corp, NEC Display Solutions, Digital Projection Limited, Optoma Corporation, Christie Digital Systems, Barco NV, and BenQ.

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Automotive Integrated Radar and Camera (IRC) Market: Regional Landscape

Europe has been a highly lucrative automotive integrated radar and camera (IRC) market. The widespread demand for next generation active safety and automated driving features in vehicles and rise in national research programs in its economies, such as in Sweden, are expected to spur the revenue prospects of players in the Europe automotive integrated radar and camera (IRC) market. Some remarkable technological advancements in electronics and sensors have enriched the regional market landscape in recent years. 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Automotive Integrated Radar And Camera Irc Market