The radar sensor market is estimated to grow at a steady pace over the coming years owing to robust implementation of these sensors in automotive safety systems including blindspot detection, lane change assist, adaptive cruise control, vehicle exit assist, pre-crash warning, automatic emergency brake, and other autonomous technologies. The high number of road fatalities throughout the world have encouraged governments to make the installation of safety systems mandatory, in order to enhance road safety.
Radar sensors are used for several applications like area monitoring, robotics, collision prevention, building security, level transmitters, and people counting, among others. Industrial applications require mmWave radar sensors to give information about velocity, angle and range of external environment. The growing usage of technologies like robotics and IoT along with digitalization in the industrial sector is likely to propel market outlook. Technological progress in imaging radar, including the development of 4D imaging radar for enhancing the sensing capabilities of automotive safety applications, could further the industry share.
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This growth is ascribed to the increasing product usage across various applications such as area monitoring, robotics, collision prevention, level transmitters, building security, and people counting. The industrial application segment in the radar sensor industry accounted for nearly 16.0 per cent of the overall market revenue in 2020 and is anticipated to grow at a remarkable CAGR of 16.5 per cent through 2027.
The surging adoption of technologies, comprising robotics and IoT, and the soaring digitalization in the industrial sector are expected to escalate radar sensor market share through the forecasted period. As per the International Federation of Robotics Reports 2020, there were nearly 2.7 million industrial robots operating across factories at the global level, accounting for an upsurge of 12 per cent as compared to the previous years.
List of the Key Companies that are Operating in the Radar Sensor Market. They are as follows:
Banner Engineering Corp, Continental AG, Denso Corporation, HELLA GmbH & Co. KGaA, MediaTek Inc., and Texas Instruments Incorporated among others.
The pulse radar segment in the radar sensor industry held a substantial share of 25.5 per cent in 2020 and is projected to exhibit a considerable CAGR of 18.5 per cent through 2027. This is due to the wide incorporation of pulse radar systems in government and public infrastructure development applications. The sensors provide numerous intuitive features, comprising higher reliability and precision, as compared to non-imaging radars.
The Europe radar sensor industry accounted for an appreciable share of 19.5 per cent in 2020. The region is estimated to exhibit an appreciable CAGR of nearly 12.5 per cent through 2027. The market is driven by a surge in government initiatives for the acceleration of the defense sector by integrating technology innovations with new safety systems.
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Table Of Content:
Chapter 5 Radar Sensor Market, By Type
5.1 Key trends by type
5.2 Imaging radar
5.2.1 Market estimates and forecast, 2016 – 2027
5.2.2 Continuous wave (CW) radar
184.108.40.206 Market estimates and forecast, 2016 – 2027
5.2.3 Pulse radar
220.127.116.11 Market estimates and forecast, 2016 – 2027
5.3 Non-imaging radar
5.3.1 Market estimates and forecast, 2016 – 2027
5.3.2 Speed gauge
18.104.22.168 Market estimates and forecast, 2016 – 2027
5.3.3 Radar altimeter
22.214.171.124 Market estimates and forecast, 2016 – 2027
Chapter 6 Radar Sensor Market, By Range
6.1 Key trends by range
6.2 Short-range radar sensor
6.2.1 Market estimates and forecast, 2016 – 2027
6.3 Medium-range radar sensors
6.3.1 Market estimates and forecast, 2016 – 2027
6.4 Long-range radar sensors
6.4.1 Market estimates and forecast, 2016 – 2027
Chapter 7 Radar Sensor Market, By Application
7.1 Key trends by application
7.2.1 Market estimates and forecast, 2016 – 2027
7.3 Aerospace and defense
7.3.1 Market estimates and forecast, 2016 – 2027
7.4.1 Market estimates and forecast, 2016 – 2027
7.5 Government and public infrastructure
7.5.1 Market estimates and forecast, 2016 – 2027
7.6.1 Market estimates and forecast, 2016 – 2027
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