Global Radar Sensor Market

Global Radar Sensor Market Size, Share, Growth Analysis, By Band(L, S), By Range(Short-Range Radar, Mid-Range Radar), By Type(Imaging Radar, CW Radar), By Technology(Time Domain Reflectometry (TDR), Ultra-Wideband (UWB)), By Component(Antenna, Duplexer) - Industry Forecast 2024-2031


Report ID: SQMIG25A2054 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 158 | Figures: 78

Global Radar Sensor Market Dynamics

Radar Sensor Market Driver

  • Nowadays, technology has advanced to the point where it is primarily concerned with safety and security requirements in a variety of applications such as vehicle collision assistance, industrial and public safety, and robotic assistance which is driving the market growth. As a result, radar sensors are used because they provide accuracy and unique safety and security solution capabilities with superior performance. Low-power consumption, small size, integrated data processing, and faster response time are all possible with these radar sensors. These sensors are now commercially available in applications like automotive, transportation, home automation, energy efficiency, industrial, and public safety.
  • The primary role of these sensors in an automotive application is in collision avoidance systems, blind spot detection, adaptive cruise control, advanced driver assistance systems, and lane departure warning systems. Proactive safety features such as collision mitigation systems and vulnerable road user detection are now possible thanks to technological advancements. To provide essential functions for a car's safety, the system must distinguish between objects on the road more clearly. As a result, the system necessitates increased bandwidth and narrow band frequency ranges in the 24GHz and 76GHz bands.

Radar Sensor Market Restraint

  • A radar sensor can be installed in a vehicle while it is being manufactured, and the vehicle can then be sold in almost any country. It can be purchased separately by an individual and misused, resulting in accidents and casualties is one of the restraint in market growth. As a result, it is illegal in some countries, and violating this may result in fines, device seizure, or both. Radar detectors are prohibited in a variety of situations. There are numerous checkpoints on a military base to ensure that radar detectors are strictly prohibited. This problem applies to both visible and hidden detectors. These sensors are not permitted in commercial vehicles weighing 10,000 pounds or more. Some countries have already enacted legislation prohibiting the use of detectors. Wireless Telegraphy Act 1949 (the UK) and Communications Act of 1934 are two supporting acts that prohibit the use of detectors (the US). Except in Western Australia, radar detectors are illegal in all states. Radar detectors are illegal in Newfoundland and Labrador, Nova Scotia, Prince Edward Island, New Brunswick, Quebec, Ontario, Manitoba, Yukon, Northwest Territories, and Nunavut. Radar sensors in private vehicles are only legal in the United States under the Communications Act of 1934. Radar detectors are also prohibited in the UAE, Switzerland, Saudi Arabia, the Netherlands, North Korea, India, France, and Brazil.
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FAQs

Radar Sensor Market size was valued at USD 10.94 billion in 2019 and is poised to grow from USD 12.37 billion in 2023 to USD 33.14 billion by 2031, growing at a CAGR of 13.1% in the forecast period (2024-2031).

Global Radar Sensor Market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Continental AG', 'Denso Corporation', ' NXP Semiconductors N.V.   ', ' Infineon Technologies AG   ', ' Texas Instruments Inc.   ', ' Analog Devices, Inc.   ', ' Rohm Semiconductor   ', ' STMicroelectronics N.V.   ', ' ZF Friedrichshafen AG   ', ' HELLA GmbH & Co. KGaA   ', ' Robert Bosch GmbH ', ' Autoliv Inc.   ', ' Delphi Technologies   ', ' Valeo SA   ', ' Panasonic Corporation   ', ' Mitsubishi Electric Corporation   ', ' TE Connectivity Ltd.   ', ' Murata Manufacturing Co., Ltd.   ', ' SICK AG   ', ' Kongsberg Gruppen AS '

Nowadays, technology has advanced to the point where it is primarily concerned with safety and security requirements in a variety of applications such as vehicle collision assistance, industrial and public safety, and robotic assistance which is driving the market growth. As a result, radar sensors are used because they provide accuracy and unique safety and security solution capabilities with superior performance. Low-power consumption, small size, integrated data processing, and faster response time are all possible with these radar sensors. These sensors are now commercially available in applications like automotive, transportation, home automation, energy efficiency, industrial, and public safety.

Significant growth in the global automotive industry, combined with an increased emphasis on passenger safety, is one of the key factors driving the market's positive outlook. CW radar sensors are embedded in autonomous vehicles to detect stationary and moving objects in the path and are used to operate heavy commercial automobiles' automatic emergency braking and collision avoidance systems. Furthermore, the growing demand for effective target surveillance, interception, missile guidance, terrain tracking, and navigation for military and defence applications is propelling market growth. As a result of this, these sensors are also used in airport intrusion detection, prison perimeter, oil depot, and power grid security systems, which is driving market growth. Other growth-inducing factors include technological advancements such as the development of corner radar sensors for 360-degree and short-range surveillance and high-resolution tracking. These innovative variants improve target separation and object recognition in low-light conditions. Other factors, such as the introduction of Industry 5.0 and the increasing demand for radars in sports tracking solutions, are expected to propel the market forward.

North America is expected to hold the largest global radar sensor market size during the forecast period. High-end defence applications, smartphone penetration, self-driving cars, and consumer electronics devices drive the North American Market. As the region has the highest defence expenditure in the world, the region is seeing an increase in FMCW applications, particularly short-range applications.  North America is a forerunner in the adoption of new technologies such as smart grids, smart homes, smart water networks, intelligent transportation, and radar sensor infrastructure. The technology advancements are expected to open up new use cases across these industries, creating opportunities for vendors. Furthermore, the region has the most technologically advanced market for applications due to the presence of prominent suppliers, major companies such as Lockheed Martin Corporation (US) and Northrop Grumman Corporation (US), manufacturers, and the competitiveness of OEMs.

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Global Radar Sensor Market

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