Press release
Global Radar Detector Market To Be Driven By Increasing Demand In The Automative Industry During The Forecast Period Of 2023-2028
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
Forecast Historical Market Size (2020): USD 341.2 billion
Forecast CAGR (2023-2028): 4.23%
Forecast Market Size (2026): USD 437.6 million
The global radar detector market is being pushed by rising demand for high-speed vehicles and an increase in the number of road accidents in recent years. As a result, police and law enforcement agencies use radar sensors to regulate a vehicle's speed. The radar detectors are used by car owners to acquire information about police radar guns, which helps to reduce accidents. The adoption of advanced solutions with GPS and artificial intelligence aid in false alarm alert systems to obtain accurate and real-time information, which is expected to propel the radar detector market forward during the forecast period.
Industry Definition and Major Segments
A radar detector is an electrical device that enables drivers to determine whether their speed is being tracked by police or other law enforcement officers using a radar gun. The majority of radar detectors are used to warn drivers when they are speeding and to allow them to slow down before being punished. The detectors are simple to install and operate. Often, a radar detector equipped with a laser shifter can provide adequate protection. Certain detectors incorporate GPS technology, which significantly minimises the number of false alarms.
Read Full Report with Table of Contents: https://www.expertmarketresearch.com/reports/radar-detector-market
By type, the market is divided into:
• Cordless
• Corded
• Remote Mount
By wavelength, the industry is categorized into:
• X-Band
• K-Band
• Ka-Band
• Ku-Band
• Others
By region, the industry is categorized into:
• North America
• Europe
• The Asia Pacific
• Latin America
• The Middle East and Africa
Market Trends
The important aspect contributing to the market's positive outlook is significant growth in the automotive sector around the world, as well as a growing emphasis on passenger safety. Radar sensors are installed in autonomous cars to identify stationary and moving objects in their path, and they are utilised to operate heavy commercial vehicles' automatic emergency braking and collision avoidance systems. The market is being propelled forward by rising demand for effective target surveillance, interception, missile guidance, terrain tracking, and navigation for military and defence applications.
As a result, radar sensors are used in airport intrusion detection, jail perimeter security, oil depot security, and power grid security systems, which is boosting the market's growth. Other growth-inducing aspects include technology improvements such as the development of corner radar sensors for 360-degree and short-range surveillance and high-resolution tracking. Under low visibility conditions, these unique versions improve target separation and object recognition. Additional factors, such as the introduction of Industry 5.0 and the growing demand for radars in sports tracking systems, are expected to propel the market forward.
North America now controls a sizable portion of the market and is expected to continue to do so during the forecast period. The market in the region is anticipated to grow as a result of the increasing number of accidents and the desire to avoid licence suspension and penalty. Additionally, police enforcement agencies in North America deploy three radar frequencies: K-band (24.05-24.25 GHz), X-band (10.5-10.55 GHz), and Ka-band (33.4 to 36 GHz).
Meanwhile, favourable government initiatives in Asian countries such as China and India are predicted to boost demand for radar detectors throughout the forecast period. Robust GDP estimates along with government measures to improve car safety and security are expected to propel the Asia Pacific automotive sector forward. These factors are expected to increase significantly and aid the growth of the radar detector market during the forecast period.
Key Market Players
The major players in the market are Axis Communication AB, Beltronics, Beltronics, GENEVO s.r.o, K40 Electronics, Radenso, among Others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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