Radar Sensor Market to Partake Significant Development during 2033

Market Overview

The global radar sensor market is anticipated to witness significant growth during the forecast period. Factors such as safety and security needs in automotive application, and increase in need for border security systems drive the growth of the radar sensor market. Also, adoption of the wideband 5G & millimeter wave-based RF systems boost the overall market growth. However, high development & installation cost is a major restraint to global radar sensor industry. In addition, growing defense sector in Asia-Pacific region is expected to create lucrative opportunities for the radar sensor industry.

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According to PMR, the radar sensor market will generate US$ 9.5 billion in 2023 and US$ 45 billion in 2033, representing a 16.8% CAGR. Radar sensors are used to forecast the weather, control traffic, and provide onboard vehicle systems with information regarding the weather. Recently, they have become increasingly popular for use in wearable devices, smart buildings, and autonomous vehicles in a variety of situations.

By determining the position, shape, characteristics of motion, and trajectory of the motion using wireless sensing technology, robots can detect motion. With the ability to detect obstacles such as glass, radar sensors are independent of light and darkness, allowing them to detect objects through walls.

With radar-based sensors, such as ultrasonics, detecting longer distances with a greater degree of accuracy, regenerating longer distances, and being safer for humans and animals. Automakers are turning to radar sensors to implement child presence detection to comply with a variety of regulations, including the European New Car Assessment Program. As radar becomes more capable of detecting in-cabin motion, systems such as seatbelt reminders and airbags will become more accurate.

Key Takeaways from Market Study

Ku, K, Ka, V, and W Bands generated absolute dollar opportunities of 19.4% by the end of the forecasted period.
The automotive application market is anticipated to grow at 16.5% CAGR between 2023 and 2033.
Radar sensor sales in the United Kingdom are estimated to reach US$ 2.2 billion by 2033.
By the end of the forecast period, Japan's radar sensor market is expected to grow at a CAGR of 16.2%.
According to projections, the radar sensor market will grow at a CAGR of 16.8% from 2023 to 2033.
According to estimates, the Chinese market is expected to be worth US$ 3.7 billion by 2033.
"Technological advances and the growth of artificial intelligence in radar sensor systems will lead to an increase in radar sensor systems demand," says an analyst at Persistence Market Research.

Market Segmentation

By Type (Imaging Radar, CW Radar, Pulse Radar, Non-imaging Radar, Speed Gauge, Altimeter)
By Technology (Time Domain Reflectometry - TDR, Ultra-Wideband - UWB, RF MEMS-based Radar Sensors, Millimeter Wave)
By Component (Antenna, Duplexer, Transmitter, Receiver, Video Amplifier)
By Band (HF, VHF, and UHF Bands, L, S, C, and X Bands, Ku, K, Ka, V, and W Bands)
By Range (Short-Range Radar, Mid-Range Radar, Long-Range Radar)
By Application (Automotive, Aerospace and Defence, Industrial, Security and Surveillance, Traffic Monitoring and Management, Environmental and Weather Monitoring, Others)

Segment Overview

The global radar sensor market is segmented into type, range, application, end user, and region. By type, the market is segmented into imaging, and non-imaging. By range, the market is segmented into short range, medium range, and long range. By application, market is divided into air traffic control, remote sensing, ground traffic control, space navigation and control, and others. By end user, market is segmented into automotive, aerospace and defense, environment and weather monitoring, industrial, and others.

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Competitive Analysis

Competitive analysis and profiles of the major market players such as Honeywell International Inc., Infineon Technologies, L3harris Technologies Inc., Lockheed Martin Corporation, NXP Semiconductors N.V, Raytheon Technologies Corporation, Saab AB, STMicroelectronics N.V., Texas Instruments, and Thales Group are analyzed in the report. These key players have adopted various strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to increase their market penetration and strengthen their foothold in the industry.
Restraints/Challenges

Regulatory Challenges
Compliance with evolving regulatory requirements and standards, particularly in the automotive industry, can be a significant challenge. Meeting these standards for safety and emissions can increase the cost and complexity of radar sensor implementation.

Interference and Compatibility Issues
Radar sensors can be susceptible to interference from other radar systems, such as those in nearby vehicles, airports, or military installations. Ensuring compatibility and avoiding interference can be technically challenging.

This global radar sensor market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market

Recent Developments

In January 2023, NOVELDA announced CES 2023 would be the first time that NOVELDA would demonstrate the capabilities of its UWB radar sensors for people positioning and tracking. Smart speakers with NOVELDA's next-generation UWB radar sensors are among the latest innovations in the audio and video market. They were introduced at CES by an innovator in the audio and video market. Novelda's technology delivers high-quality sound throughout a room. By Q1 2023, select companies and partners will be able to purchase NOVELDA UWB radar sensor development kits. With further development, it will be possible to track objects, count people, and monitor people battery-powered.

In May 2023, VEGA will offer factory automation with its radar measurement technology, VEGAPULS 42. A breakthrough in level sensor technology with IO-Link compatibility and hygienic adapters that meet the demands of modern industry for faster, easier, and less costly measurements. In addition to offering a range of IO-Link solutions, VEGAPULS 42 also offers a pressure measurement solution.

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Global Radar Sensor Market Scope

The global radar sensor market is segmented on the basis of type, band, range, component, technology, application and vertical. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the Users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

Imaging Radar
Non-Imaging Radar
Band

HF
VHF
HUF Bands: L, S, C
X Bands; Ku, K, Ka, V
W Bands
Range

Short-Range Radar Sensor
Medium-Range Radar Sensor
Long-Range Radar Sensor
Component

Transmitter
Receiver
Processor
Antenna
Video Amplifier
Technology

Time Domain Reflectometry
Ultra-Wideband
RF MEMS-based Radar Sensors
Millimeter Wave
Application

Automotive
Aerospace and Defense
Industrial
Security and Surveillance
Traffic Monitoring and Management
Environmental and Weather Monitoring
Other Applications
Vertical

Commercial
Government
Industrial

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This release was published on openPR.