Radar Sensor Market Report, Size, Share, Market Strategy, Leading Players And Forecast 2024-2033

The Business Research Company has released its latest global market reports, covering insights for 2024 and offering projections up to 2033.

The Business Research Company presents an extensive market research report on the Radar Sensor Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The radar sensor market size has grown rapidly in recent years. It will grow from $12.49 billion in 2023 to $14.43 billion in 2024 at a compound annual growth rate (CAGR) of 15.5%. The growth in the historic period can be attributed to increasing need for national security, growing initiatives of prominent players in germany to develop advanced products, growing use of radar sensors in systems specialized in early warning, situational awareness, and integrated air and missile defense, mandating the integration of radar sensors in modern vehicles, and the flexibility and precision of radar sensors.

The radar sensor market size is expected to see rapid growth in the next few years. It will grow to $23.95 billion in 2028 at a compound annual growth rate (CAGR) of 13.5%. The growth in the forecast period can be attributed to increasing demand for short-range radar sensors for integration into vehicles, smart city infrastructure, and consumer electronics, the rising number of autonomous cars and a focus on security and safety needs, paving the way for innovative transportation and traffic management. Major trends in the forecast period include integration in autonomous vehicles, short-range radar for urban applications, enhanced safety features in vehicles, expansion in iot and connected devices, focus on environmental sensing.

Request for free sample report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=13917&type=smp

Key Market Players:

Major companies operating in the radar sensor market report are Robert Bosch GmbH, Raytheon Technologies Corporation, Lockheed Martin Corporation, Denso Corporation, ZF Friedrichshafen AG, Qualcomm Technologies, Continental AG, Northrop Grumman Corporation, Honeywell International Inc., Texas Instruments Inc., Thales Group, Aptiv Plc, L3Harris Technologies Inc., STMicroelectronics N.V, Infineon Technologies AG, NXP Semiconductors NV, Analog Devices, Autoliv Inc, Hella KGaA Hueck & Co., Saab AB, SICK AG, Banner Engineering Corp, Socionext America Inc., Smart Microwave Sensors GmbH, Oculi Corp

Market Drivers:

The rise of autonomous vehicles is expected to propel the growth of the radar sensor market going forward. An autonomous vehicle refers to a type of vehicle that is capable of navigating and operating without direct human input. Radar sensors enable autonomous vehicles to detect objects, vehicles, pedestrians, and obstacles in their surroundings at long ranges, providing crucial information for real-time decision-making regarding navigation, speed adjustments, and route planning. For instance, in December 2022, according to a report published by the Insurance Institute for Highway Safety, a US-based non-profit organization, it is projected that around 3.5 million autonomous vehicles or self-driving cars are expected to be on American roads by 2025. Additionally, 4.5 million autonomous vehicles are expected to be on the road by 2030. Therefore, the rise of autonomous vehicles is driving the growth of the radar sensor market.

Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/radar-sensor-global-market-report

The radar sensor market covered in this report is segmented -
1) By Type: Imaging Radar, Non-imaging Radar
2) By Range: Short-Range Radar Sensor, Medium-Range Radar Sensor, Long-Range Radar Sensor
3) By Application: Air Traffic Control, Remote Sensing, Ground Traffic Control, Space Navigation And Control, Other Applications
4) By End User: Automotive, Aerospace And Defense, Environment And Weather Monitoring, Industrial, Other End Users

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Want To Know More About The Business Research Company?

The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.