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The radar sensor market estimated to grow at a CAGR of 19.51% between 2017 and 2023
The radar sensor market is expected to grow from USD 5.95 billion in 2016 to USD 20.64 billion by 2023, at a CAGR of 19.51% between 2017 and 2023. The growth of this market is driven by the increasing focus on safety and security needs in automotive applications, and increasing need for border security systems. This market is further driven by unlocking the wideband 5G and millimeter wavebased RF system capabilities.
Market for automotive application to hold a major share of the radar sensor market during the forecast period
Technology has become more advanced and mainly focused on the safety and security needs in various applications such as vehicle collision assistance, industrial and public safety, and robotic assistance. Technological advances permit proactive safety features such as collision mitigation system and vulnerable road user detection. These increasing features are used for combating the increasing worldwide accidental rate. Due to these reasons, the automotive companies are implementing radar sensors and systems within its cars.
Radar sensor market in APAC expected to witness the highest growth during the forecast period
Increasing autonomous car developments in APAC and the growing demand for radar sensors and systems in countries such as China, Japan and India are driving the growth of the radar sensor market. This region has become a global focal point for large investments and business expansion opportunities. As of 2016, China with 28,118,794 units, Japan with 9,204,590 units, South Korea with 4,228,509 units, and India with 4,488,965 units Source: Production Statistics OICA were among the top largest automobile manufacturers worldwide.
Breakup of the profile of primary participants for the report is as given below:
By Company Type Tier 145 %, Tier 232%, and Tier 323%
By Designation CLevel Executives30%, Directors45%, and Others25%
By Region North America26%, Europe40%, APAC22%, and RoW12%
The major companies involved in the development of radar sensors include Robert Bosch GmbH Germany, Continental AG Germany, Denso Corporation Japan, Delphi Automotive LLP UK, HELLA KGaA Hueck Co Germany, Autoliv Inc. Sweden, Infineon Technologies AG Germany, Lockheed Martin Corporation US, NXP Semiconductors N.V. Netherlands, Smart Microwave Sensors GmbH Germany.
Reasons to buy this report:
From an insight perspective, this report has focused on various levels of analysisindustry analysis industry trends, market ranking analysis of top players, value chain analysis, and company profiles, DIVE analysis that comprises and discusses the basic views on the competitive landscape; emerging and highgrowth segments of the radar sensor market; highgrowth regions; and market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
Market penetration: Comprehensive information on radar sensor offered by the top players in the overall radar sensor market
Product development/innovation: Detailed insights regarding RD activities, emerging technologies, and product launches in the radar sensor market
Market development: Comprehensive information about lucrative emerging marketsthe report analyzes the markets for radar sensors across regions
Market diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the overall radar sensor market
Competitive assessment: Indepth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the radar sensor market
Original Article: Radar Sensor Market by Type Imaging, and NonImaging, Technology, Component, Band HF, VHF, and UHF; L, S, C, and X; Ku, K, Ka, V, and W, Range Shortrange, Midrange, Longrange, Application, Vertical, and Geography Global Forecast to 2023 [Report Updated: 0NEXT ARTICLE