Latest News - Radar Sensors Market: Automotive is expected to lead the Application segment during 2024-2028

The Radar Sensors Market is being driven by Increasing use of drones in numerous applications

The Radar Sensors Market is expected to grow at a CAGR of 20.62% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 17907.2 million. In the automotive industry, high-resolution radar sensors have gained significant importance due to their ability to enhance safety features in vehicles, particularly in extreme weather conditions and dim lighting. These advanced sensors offer superior velocity tracking and distance detection capabilities compared to short-range radar sensors. The recent incidents involving self-driving cars in the US, such as the Uber SUV accident in Tempe, Arizona, in March 2018, and incidents involving Tesla and Google self-driving vehicles, have underscored the need for improved sensors and related Advanced Driver Assistance Systems (ADAS) technology. The integration of high-resolution radar sensors into vehicles will enable increased detection points, better object separation in complex environments, and precise detection of blind spots, ultimately enhancing road safety. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Automotive
  • Aerospace and defense
  • Industrial
  • Others
• Product
  • Non-imaging sensors
  • Imaging sensors
• Geography
  • North America
    • US
  • APAC
    • China
    • Japan
  • Europe
    • Germany
    • UK
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing use of drones in numerous applications
• Government regulations for vehicle safety
• Growing adoption of radar sensors in several applications

However, the market also witnesses some limitations, which are as follows:

• Cost pressure faced by OEMs
• Growing adoption of LiDAR sensors
• Emergence of software-defined radar

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Market Scope in Radar Sensors Market Research Report

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Research Analysis Overview

Radar sensors, an essential electronic device in various industries, utilize pulsed electromagnetic waves to measure distance, velocity, and angle. These sensors come in various types, including altimeters for measuring height, speed gauges for automobiles and two-wheelers, and long- and short-range sensors for marine vessels, aircraft, and weather monitoring. Pulse-based radar sensors emit electromagnetic waves and measure the time taken for the waves to bounce back, providing data on distance, speed, and direction. Altimeter radar sensors are commonly used in aviation and mountain climbing, while speed gauges are integral to modern automobiles and two-wheelers. Radar sensors play a significant role in the aerospace and defense sector for detecting and tracking objects, including radars for weather monitoring, aerospace applications, and radars used for scrambling and detecting electronic emissions. In recent years, radar sensors have expanded their applications to include autonomous vehicles, IoT devices, and traffic monitoring systems. Sub-millimeter-wave radar sensors and CW radar sensors are gaining popularity due to their high resolution and accuracy. Radar detectors, on the other hand, are used for detecting radar signals and are popular among drivers for traffic law enforcement. Radar sensors are also used in industrial applications, security and surveillance systems, and imaging applications, providing valuable data for process control, safety, and security. Non-imaging radar sensors are commonly used for level measurement, flow measurement, and object detection in industrial applications. Imaging radar sensors, on the other hand, are used for object recognition and 3D imaging in various industries.

Market Research Overview

The global electronic equipment and instruments market, a significant segment of the larger electronics industry, encompasses organizations engaged in the production of advanced technology solutions for testing, measuring, and monitoring various applications. According to Technavio's market analysis, the market size is determined by the revenue generated from the sales of associated ICT and electronics products, equipment, and components. Factors driving the growth of this market include the escalating demand for electronic test and measurement equipment. This demand is fueled by technological innovations and digital transformations occurring across industries such as semiconductors, automotive, IT, consumer electronics, industrial, energy, and healthcare. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
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