Radar Sensor Market Expected to Reach $33.14 Billion By 2030
“The radar sensor market in Asia-Pacific is expected to grow at the highest rate during the forecast period,
owing to high investment in military sector. Moreover, economically developed nations tend to witness high
penetration of radar sensor products in automotive industries, and remote sensing, which is projected to
significantly contribute toward the growth of the market .”
According to Asavari Patil,
Semiconductor and Electronics
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KEY FINDINGS OF THE STUDY
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The automotive segment is projected to be a major application during the forecast period followed
by industrial. The rising adoption of autonomous driving vehicles and the progression of Industry
4.0 is anticipated to drive demand in the future.
Asia-Pacific and North America collectively accounted for more than 55% of the radar sensor market
share in 2020.
India is anticipated to witness highest growth rate during the forecast period.
Major key players profiled cover in Report:
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Texas Instruments Inc.
Nxp Semiconductors N.V.
L3harris Technologies, Inc.
Thales Group.
Saab Ab and many more.
Market dynamics
Drivers
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Increase in demand for radar systems in automotive and defense industries
Emerging applications of radar in remote sensing
Surge in territorial battles across globe
Restraints
• High cost of radar system
Opportunities
• High investment from developed countries in military sector
⦁ Report Overview:
https://www.alliedmarketresearch.com/radar-sensor-market-A06156
Analyst Review:
Radar sensor devices transmit a constant signal of low-energy microwave radiation at a specific area & then
evaluate the reflected received signal. Where the detector records a variation in the frequency of waves,
when the microwave source and the target are in motion relative to each another. This permits the device
to sense moving vehicles.
The global radar sensor market is anticipated to witness significant growth during the forecast period.
Factors such as safety and security needs in automotive application, and increasing need for border security
systems drive the growth of the radar sensor market. Also, adoption of the wideband 5G & millimeter wave–
based RF systems boost the overall market growth. However, high development & installation cost is a major
restraint to the global radar sensor industry. In addition, growing defense sector in Asia-Pacific region is
expected to create lucrative opportunities for the radar sensor industry.
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