Radar Sensor Market by Product (Pulse Radar, Altimeter, CW Radar, Imaging Radar, Speed Gauge, and Others), by Technology (Ultra-Wideband (UWB), Time Domain Reflectometry (TDR), Millimeter Wave, RF MEMS, and Others), by Range (Short-Range Radar, Mid-Range Radar, and Long-Range Radar), by Application (Environmental and Weather Monitoring, Driving Assistance, Traffic Monitoring and Management, Security and Surveillance, and Others), and by End-Use (Government, Industrial, and Commercial): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025

Global radar sensor market expected to reach USD 28.8 billion by 2025, at a CAGR of 19.4% between 2019 and 2025. The global radar sensor market is estimated to expand due to the rising investments made in developing autonomous vehicles.

01-Mar-2019 | Number of pages: 182 | Report Code: ZMR-927 | Report Format : | Status : Published

Analysis

The global radar sensor market is expected to witness notable growth in the future, owing to the increasing use of automation in various industrial applications. These sensors are integrated with cameras of industrial vehicles and robots. In 2017, industrial robot sales reached around 381 thousand units as compared to 294 thousand units in 2016. From 2012 to 2017, the average annual robot sales increased to 19%. This number is anticipated to rise as most of the top manufacturers are focusing on using technology to automate various manufacturing processes. Samsung, Volkswagen, and LG are investing in automated machinery that will lead to an increased demand for radar sensors over the forecast time period.

Government initiatives for funding various smart city projects are likely to drive the demand for traffic management technologies. Traffic management solutions play a vital role in smart city projects. In 2018, the U.S. smart city spending was about USD 22 billion, whereas China’s smart city spending reached about USD 21 billion. A major portion of these expenses was incurred on the systems that manage traffic effectively. Thus, it is anticipated that rising investments in smart city projects will further boost the demand for radar sensor market in the future. However, the high initial investments for the manufacturing of these sensors may be a major constraint of the radar sensor market globally. Alternatively, the increasing adoption of radar sensors in the automotive sector will open new growth avenues for the radar sensor market over the forecast timeline.

Global Radar Sensor Market

The global radar sensor market is segmented on the basis of product, technology, range, application, and end-use. Pulse radar, altimeter, CW radar, imaging radar, speed gauge, and others form the product segment of the global radar sensor market. Ultra-Wideband (UWB), Time Domain Reflectometry (TDR), Millimeter Wave, RF MEMS, and others form the technology segment of the radar sensor market. The range segment includes short-range radar, mid-range radar, and long-range radar. The mid-range radar segment is expected to grow rapidly in the future, owing to its increasing adoption for automation in the industrial sector. Environmental and weather monitoring, driving assistance, traffic monitoring and management, security and surveillance, and others form the application segment. The government, industrial, and commercial comprise the end-use segment of the market. 

By region, North America will hold a notable share of the global radar sensor market over the forecast time span. The U.S. is considered as a major contributor toward the upsurge of this regional market, owing to the rising investments in traffic management technologies. Furthermore, the U.S. defense sector is focusing on increasing its budget related to security and surveillance devices. Europe is expected to witness a substantial rise in the radar sensors demand due to the introduction of autonomous vehicles. UK and Germany are considered to be the most lucrative countries for the radar sensor manufacturers in Europe in the years ahead.

Some noticeable players of the global radar sensor market are Continental AG, Delphi Automotive LLP, Robert Bosch GmbH, Hella KGaA Hueck & Co., NXP Semiconductors N.V., Smart Microwave Sensors GmbH, Denso Corporation, Lockheed Martin Corporation, Infineon Technologies AG, and Autoliv Inc., among others.


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