Global Radar Sensor Market Insights Forecasts to 2030
- The Radar Sensor Market size was valued at USD 12.7 billion in 2021
- The market is growing at a CAGR of 18.6% from 2022 to 2030
- The Global Radar Sensor Market is expected to reach USD 43.5 billion by 2030
- North America is expected to grow the fastest during the forecast period
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The Global Radar Sensor Market is expected to reach USD 43.5 billion by 2030, at a CAGR of 18.6% during the forecast period 2022 to 2030. The COVID-19 pandemic also has had a major impact on the global radar sensor manufacturing sector. In addition to labour difficulties, the decline in Radar Sensor production and exports in countries including China, Germany, the United States, Japan, and South Korea has significantly decreased global market revenues in 2020.
Radar sensors convert microwave echo signals from microwaves to electrical impulses. By determining the object's location, form, motion characteristics, and motion trajectory, they use wireless sensor technologies to detect motion. Radar sensors are capable of sustaining operation in severe weather conditions such as rain, snow, fog, dust, and so on. Radar sensors are used in forecasting the weather, traffic monitoring, and onboard vehicle systems. They have recently been used in wearable devices, smart buildings, and self-driving cars. Also, radar sensors are embedded with GPS technology which enables the storage of locations precipitated by the sensor when the subscriber arrives at one intended location. Additionally, the use of corner radar for 360-degree surveillance of the vehicle, aided by 24 GHz short to mid-range radars, is gaining traction for high-resolution tracking.
This research report categorizes the market for global radar sensor market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the radar sensor market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the radar sensor market.
In the present age, technology has advanced to the point where it now primarily focuses on safety and security requirements in a wide range of applications such as robotic assistance, industrial and public safety, and car crash assistance. The rising new emphasis on safety and security requirements in automotive applications is the primary driver of market growth. Radar sensors with low power consumption, small size, integrated data processing, and faster response time are used since they offer accuracy and unique safety and security solution capabilities with superior performance. Rising demand for smart devices and IoT in developing countries is expected to drive growth in the radar sensor market. With compact features, these sensors provide improved performance in a variety of temperatures and lighting conditions, accelerating the demand for automation and security applications in smart home devices.
Global Radar Sensor Market Report Coverage
|Market Size in 2021:||USD 12.7 Billion|
|Forecast Period 2021-2030 CAGR:||18.6%|
|2030 Value Projection:||USD 43.5 Billion|
|Historical Data for:||2017-2020|
|No. of Pages:||223|
|Tables, Charts & Figures:||121|
|Segments covered:||By Type, By Range, By Application, By Verticals, By Region, COVID-19 Impact Analysis|
|Companies Covered:||Continental AG, Raytheon Technologies Corporation, Delphi Automotive LLP, Kyowa Electronic Instruments Co. Ltd., Banner Engineering Corp, Infineon Technologies AG, NXP Semiconductors N.V., Oculi Corp, Smart Microwave Sensors GmbH, Robert Bosch GmbH, Trans-Tek Inc., Saab AB, SICK AG, Denso Corporation, Hella KGaA Hueck & Co, Autoliv Inc., Micro-Epsilon, L3harris Technologies Inc., Socionext America Inc., Lockheed Martin Corporation, Honeywell International Inc., Solartron Metrology, ZF Friedrichshafen AG, Thales Group|
|Pitfalls & Challenges:||Due to the increasing number of COVID-19 cases|
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Some of the challenges impeding the growth of the radar sensor market include radar sensors' inability to detect smaller objects and their inability to measure the distance between objects quickly and precisely. Additionally, the radar sensor market growth is hampered by high initial and development costs. It can be obtained separately and misused by a person, resulting in accidents and casualties. As a result, it is illegal in several countries, and violating this could result in fines, confiscation of the device, or both. Many radar detector applications are prohibited.
- In 2021, the continuous wave radar segment is witnessing a higher growth rate over the forecast period.
Based on type, the global radar sensor market is segmented into continuous wave radar, pulse radar, speed gauge, and radar altimeter. Among these, the continuous wave radar segment is witnessing a higher growth rate over the forecast period. Continuous wave radar is increasingly being used in proximity sensor systems and sports equipment that could function at great distances. Considering their simplicity, continuous wave radar sensor are completely automated, reasonably priced, and virtually failure-free. They are also inexpensive to maintain. Some are small enough to fit in a pocket and be transported in that manner.
- In 2021, The Long-range radar sensor segment is witnessing significant CAGR growth over the forecast period.
On the basis of range, the global radar sensor market is segmented into short-range radar sensors, medium-range radar sensors, and long-range radar sensors. Among these, the long-range radar sensor segment is witnessing significant CAGR growth over the forecast period. Vehicles must constantly be able to recognize objects and people to respond to driver assistance systems. The high detection range, large field of view, exceptional angle separability, and novel chirp-sequence modulation function of the long-ranged radar sensor enable quick, accurate, and dependable object recognition and tracking. As a result, it is perfectly suited to difficult traffic situations.
- In 2021, Traffic monitoring is witnessing significant growth over the forecast period.
Based on applications, the global radar Sensor market is segmented into advanced driver assistance systems, monitoring & communication, security & surveillance, traffic monitoring, environment, weather monitoring, hump yard and rail crossing, and others. Among these, traffic monitoring is witnessing significant growth over the forecast period, owing to many different traffic monitoring situations to give vehicle speeds and counts. It can also be used to give estimates of vehicle length which can be used in classifying traffic flow by vehicle type. Furthermore, new radar sensor technology is paving the way for innovative transportation and traffic management concepts for smart cities.
- In 2021, The Automotive segment is dominating the market with the largest market share of 40% over the forecast period.
Based on verticals, the global radar Sensor market is segmented into continuous automotive, aerospace & defence, industrial, government & public infrastructure, healthcare, oil and gas, manufacturing, maritime, and others. Among these, the automotive segment dominates the market with the largest market share of 40% over the forecast period. In automotive, radar sensors are used to determine the distance and speed of objects that are close to the vehicle. Automobile radar consists of a transmitter and a receiver; the receiver can determine the distance, speed, and direction of an object by receiving radio waves reflected off of it. Short-range radars in automobiles are used for short-range applications such as blind-spot detection, parking aid or obstacle detection, and collision avoidance.
Regional Segment Analysis of the Radar Sensor Market
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- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
Asia Pacific is dominating the market with the largest market share of 45%.
Asia Pacific is dominating the market with the largest market share of 45%, owing to the rapidly growing demand for smartphones, consumer electronics, and automotive industries in countries such as China, Japan, India, and South Korea. Given the benefits of radar sensors, several public and private organizations are increasing their R&D efforts to improve radar sensor efficiency, which is expected to positively impact the growth of the radar sensor market. The Asia Pacific region is expected to lead the way in implementing cutting-edge technology such as radar sensor infrastructure, smart grids, smart homes, smart water networks, and intelligent transportation. Radar sensor technology advancements are expected to lead to new markets across these industries, creating opportunities for vendors.
The report offers the appropriate analysis of the key organizations/companies involved within the global radar sensor market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Market Players
- Continental AG
- Raytheon Technologies Corporation
- Delphi Automotive LLP
- Kyowa Electronic Instruments Co. Ltd.
- Banner Engineering Corp
- Infineon Technologies AG
- NXP Semiconductors N.V.
- Oculi Corp
- Smart Microwave Sensors GmbH
- Robert Bosch GmbH
- Trans-Tek Inc.
- Saab AB
- SICK AG
- Denso Corporation
- Hella KGaA Hueck & Co
- Autoliv Inc.
- L3harris Technologies Inc.
- Socionext America Inc.
- Lockheed Martin Corporation
- Honeywell International Inc.
- Solartron Metrology
- ZF Friedrichshafen AG
- Thales Group
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- In June 2021, Garpwaves, a Swedish technology company, and Bosch, a leading global automotive supplier, announced a collaboration to develop and mass-produce high-resolution radar antennas for automotive vehicle applications.
- In October 2021, Infineon Technologies announced the availability of the XENSIV 60 GHz automotive radar sensor. These sensors are intended for use in in-cabin monitoring systems (ICMS) to detect and alert to micro-movements and vital signs of left-behinds.
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the global radar sensor market based on the below-mentioned segments:
Radar Sensor Market, By Type
- Continuous Wave Radar
- Pulse Radar
- Speed Gauge
- Radar Altimeter
Radar Sensor Market, By Range
- Short-range Radar Sensor
- Medium-range Radar Sensor
- Long-range Radar Sensor
Radar Sensor Market, By Application
- Advance Drivers Assistance Systems
- Monitoring & Communication
- Security & Surveillance
- Traffic Monitoring
- Weather Monitoring
- Hump Yard and Rail Crossing
Radar Sensor Market, By Verticals
- Aerospace & Defence
- Government & Public Infrastructure
- Oil and Gas
Radar Sensor Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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