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The global radar sensors market stood at a value of around USD 16.25 billion in 2023. The market is further expected to grow at a CAGR of 17.2% in the forecast period of 2024-2032 to attain a value of around USD 67.86 billion by 2032.
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Based on end user, the automotive segment is predicted to account for a significant market share in the radar sensors industry. This increase can be attributed to the increased implementation of radar sensors in automobiles in order to reinforce the safety of the vehicle. The radar systems offer driver assistance facilities that help to mitigate the risk of collision by providing timely warnings along with adaptive cruise control. In addition, different radar sensors offer lane change assistance, blind-spot detection and also 360-degree surveillance through the use of short and mid-range radar sensors. Moreover, with the rapid technological advancements, self-driving vehicles are being developed, which is expected to propel the industry growth in the coming years.
North America is estimated to hold a significant share of the radar sensors industry in the forecast period. This growth can be attributed to the growing investments to support technological advancements in the region. In addition, the rising disposable income levels, improved standards of living, and the developing automobile infrastructure are also significant factors leading to the industry growth. Moreover, the growing emphasis on the security and surveillance sector is also predicted to catalyse the demand for radar sensors in the region. Furthermore, the heightened adoption of radar sensors in the military sector is also expected to augment the market growth in the forecast period. For instance, the Federal Communications Commission of the United States recently announced their proposal to expand the use of short-range radar sensors in 57 to 64 GHz band, which would help avoid ‘hot car’ deaths, augment the IoT devices and aid with healthcare monitoring.
Radar Sensors are conversion devices that facilitate the conversion of microwave echo signals into electrical signals. With the help of wireless sensing technology, radar sensors can detect motion by figuring out the object’s position, shape, characteristics, and trajectory. These sensors are not affected by light or darkness and can even look through the wall. In addition, radar sensors are increasingly used in military operations, security systems, automobiles, medical devices, and industrial applications, among others.
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By type, the market is bifurcated into:
On the basis of range, the industry can be segmented into:
Based on end user, the market can be categorised into:
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The increased pace of digitalisation across the globe is estimated to catalyse the demand for radar sensors across various industries. Consumers are increasingly utilising IoT devices and smart technology, which comprise radar sensors. For instance, security systems and automatic doors, among others, make use of the motion detection technology offered by the radar sensors to detect any movement. In addition, these radar sensors are small in size and can offer accurate and precise information. Moreover, smartphones such as Google Pixel smartphones come with radar sensors that allow swipe features and reduce energy wastage by automatically switching the screen off when the user is away from the phone. Furthermore, the heightened application of radar sensors in security and surveillance operations is also predicted to drive the market growth in the coming years.
The report gives a detailed analysis of the following key players in the global radar sensors market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Range |
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Breakup by End User |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global radar sensors market attained a value of nearly USD 16.25 billion.
The market is projected to grow at a CAGR of 17.2% between 2024 and 2032.
The major market drivers are the rising demand for safety in passenger vehicles, growing applications of radar sensors in the military, security and surveillance sectors, and surging demand for motion detection in industrial applications.
The expanding automotive infrastructure, rising adoption of IoT devices, and rapid digitalisation are the key trends supporting the market development.
The major regions in the radar sensors market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Imaging radar and non-imaging radar are the significant types of radar sensors considered in the market report.
The different segments based on the range of radar sensors are short-range radar sensor, medium-range radar sensor, and long-range radar sensor.
The major end uses of the product include automotive, security and surveillance, industrial, environment and weather monitoring, and traffic monitoring, among others.
The major players in the market are Robert Bosch GmbH, Continental AG, DENSO Corporation, Hella KGaA Heuck & Co., and Infineon Technologies AG, among others.
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