The global Radar Sensor Market is anticipated to reach USD 44.4 billion by 2026 according to a new research published by Polaris Market Research. In 2017, the non-imaging radar sensor segment accounted for the highest Radar Sensor market share in terms of revenue. North America is expected to be the leading contributor to the global Radar Sensor market revenue in 2017.
The
growing military expenditure in countries such as China, U.S, and others have
resulted in radar sensor market growth. The advancements in technologies and
increasing need for national security would further lead to radar sensor market
growth. Increasing demand for high range and enhanced radar accuracy, along
with stringent security regulations supplement the growth of radar sensors
market. Growing adoption of radar sensors in developing nations provide growth
opportunities for the market. Features of radar sensors such as increased
discrimination accuracy, enhanced sustainability, greater detection ranges and
high reliability are propelling the growth of global radar sensor market.
Furthermore, viewing the real-time data with the help of Radar through
interfaces such as internet is opportunistic for the market expansion.
Increasing cases of road accidents and stringent vehicle safety regulations
supplement the market growth. Increasing development of self-driving and
autonomous vehicles provide growth opportunities for radar sensor industry.
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North
America generated the highest Radar Sensor market share in terms of revenue in
2018, and is expected to lead the global Radar Sensor industry throughout the
forecast period. The adoption of radar sensors is expected to increase
significantly in this region owing to increasing need to offer safety and
security. The increasing demand for surveillance and border monitoring also
drives the radar sensor market across various countries. Market players in the
global radar sensor industry are introducing highly efficient and low-cost
radar sensors to cater to the growing consumer needs. These market players are
also integrating advanced technologies to improve the radar systems to cater to
wider audiences. Increasing safety concerns, growing military expenditure, and
development of autonomous vehicles are factors encouraging market players to
launch efficient radar sensors across the globe.
Leading
global players are expanding their presence in developing nations of India,
China, and Japan to tap the growth opportunities offered by these countries.
For instance Continental AG, a German automotive manufacturer company on
November 2017 incorporated their extensive, long standing expertise in vehicle
surrounding sensors into fifth generation of short and long range radar
sensors. This resulted in more accurate detection of smaller objects such as a
lost spare wheel or an exhaust that has fallen off. Long range radar, has
maximum range of 300 m and an opening angle of ±60˚ depending on required
performance. The series production of the same will start in 2019.
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The
well-known companies profiled in the Radar Sensor market report include Delphi
Automotive LLP, Autoliv Inc., Robert Bosch GmbH, NXP Semiconductors N.V.,
Continental AG, Lockheed Martin Corporation, Denso Corporation, Infineon
Technologies AG, Hella KGaA Hueck & Co., and Smart Microwave Sensors GmbH.
These companies launch new products and collaborate with other market leaders
to innovate and launch new products to meet the increasing needs and
requirements of consumers.