A radar sensor is an electronic device that identifies the position and velocity of a distant object such as a vehicle, aircraft, or ship. Radar sensors identify electromagnetic emissions with the help of radio receivers. When the transmission is detected, the person in the vehicle is informed. Currently, the GPS technology is installed into radar sensors, and it aids the storage of locations indicated by the sensor when the user reaches their destination in addition to detecting objects, the radar sensors provide information such as range, speed, direction, and Doppler velocity.
Market Analysis and Insights: Global Radar Sensor Market
Due to the COVID-19 pandemic, the global Radar Sensor market size is estimated to be worth US$ 9942.9 million in 2022 and is forecast to a readjusted size of US$ 18700 million by 2028 with a CAGR of 11.1% during the forecast period 2022-2028. Fully considering the economic change by this health crisis, Imaging Radar accounting for % of the Radar Sensor global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Automotive segment is altered to an % CAGR throughout this forecast period.
North America is expected to hold the largest share of the radar sensor market in 2023; the market in APAC is expected to grow at a high rate between 2018 and 2023. The increased focus on safety and security features in the automobile sector in China, India, and Japan is the major factor driving the growth of the radar sensor market in APAC.
Global Radar Sensor Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Radar Sensor Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
Imaging Radar
CW Radar
Pulse Radar
Non-imaging Radar
Speed Gauge
Altimeter
Segment by Application
Automotive
Aerospace and Defense
Industrial
Security and Surveillance
Traffic Monitoring and Management
Environmental and Weather Monitoring
Others
By Company
Continental
NXP Semiconductors
Robert Bosch
ZF Friedrichshafen
Airbus
Autoliv
Banner Engineering
Delphi Automotive
DENSO
HELLA KGaA Hueck & Co.
Infineon Technologies
InnoSenT
Lockheed Martin
Omniradar
Raytheon Company
Saffron Electronics & Defense
Sivers IMA
Smartmicro
Texas instruments
Production by Region
North America
Europe
China
Japan
South Korea
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina