New York, NY, March 04, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “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”. According to the report, the global radar sensor market accounted for USD 8.3 billion in 2018 and is 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. Radar sensors are used for various functions, such as parking assistance, blind spot detection, obstacle detection, pre-crash sensing, etc. In 2018, Ford Motors Co. declared investments in autonomous cars worth USD 4 billion. These investments will be made until 2023 with a major focus on commercial autonomous vehicles. In the same year, Toyota announced investments, worth USD 500 million, in Uber's self-driving program. These investments will fuel the growth of the global radar sensor market in the upcoming years.
Browse through 138 Tables & 48 Figures spread over 182 Pages and in-depth TOC on “Global Radar Sensor Market: Type, Technology, Application, Industry Share, Size, Analysis and Forecast, 2018–2025”.
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The increasing adoption of technology for environmental and weather monitoring is fueling the radar sensor market growth globally. In 2017, the U.S. government allocated a budget of USD 1.58 billion for “National Oceanic and Atmospheric Administration” (NOAA) satellite procurement activities. Thus, the radar sensor market will witness lucrative growth over the forecast time period. 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.
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. Environmental and weather monitoring, driving assistance, traffic monitoring and management, security and surveillance, and others form the application segment. The security and surveillance segment is expected to hold a significant share of the radar sensor market, owing to the increasing use of technology in the defense sector. The government, industrial, and commercial comprise the end-use segment of the market. The commercial segment is expected to grow considerably over the forecast timeframe, owing to the increased product adoption in the automotive sector.
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North America is anticipated to hold a significant share of the global radar sensor market over the forecast period. The U.S. is expected to be a major contributor in this region, owing to increasing funds for the defense sector. Radar sensors are preliminarily used in the aerospace and defense sector. In 2018, the U.S. government proposed USD 639 billion for the defense sector and about USD 183 billion for the U.S. air force.
The European radar sensor market is likely to grow considerably in the future, owing to the increasing product demand in the automotive sector. Radar sensors are widely used in driver assistance systems. The top European automotive manufacturers, such as BMW, Volkswagen, Daimler, and Renault, are focusing on launching technically advanced autonomous vehicles in the upcoming years. In 2018, BMW opened its research and development facility especially for autonomous cars in Munich. Furthermore, in 2018, Volkswagen Group announced investments worth USD 50 billion for autonomous and electric cars. These investments are anticipated to further fuel the radar sensor market over the estimated timeframe.
Browse the full “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” Report at https://www.zionmarketresearch.com/report/radar-sensor-market
Asia Pacific is projected to hold a notable share of the global radar sensor market over the forecast time span. China and South Korea are expected to be major regional revenue generators of this region, owing to the increasing use of robotics in various industrial applications. These sensors are integrated with cameras of industrial vehicles and robots. China is considered as a major market for robotics since 2013. In 2017, China constituted about 36% of the overall robotics market globally. It is estimated that about 138 thousand industrial robots were sold to China.
The Middle Eastern and African region is anticipated to make vital contributions toward the global radar sensor market in the upcoming years. UAE and Saudi Arabia are considered to be the most lucrative countries in the region, owing to the initiatives taken to utilize the traffic management system. In 2018, it was announced that smart traffic management systems will cover about 60% of roads in Dubai. The project was considered to be worth USD 162.26 million.
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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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This report segments the global radar sensor market into:
Global Radar Sensor Market: Product Analysis
- Pulse Radar
- Altimeter
- CW Radar
- Imaging Radar
- Speed Gauge
- Others
Global Radar Sensor Market: Technology Analysis
- Ultra-Wideband (UWB)
- Time Domain Reflectometry (TDR)
- Millimeter Wave
- RF MEMS
- Others
Global Radar Sensor Market: Range Analysis
- Short-Range Radar
- Mid-Range Radar
- Long-Range Radar
Global Radar Sensor Market: Application Analysis
- Environmental and Weather Monitoring
- Driving Assistance
- Traffic Monitoring and Management
- Security and Surveillance
- Others
Global Radar Sensor Market: End-Use Analysis
- Industrial
- Government
- Commercial
Global Radar Sensor Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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