Radar Sensor Market is expected to reach USD 20.64 Billion by 2023, at a CAGR of 19.51% between 2017 and 2023.
Major
factors driving the growth of the radar sensor market include
increasing territorial conflicts and geopolitical instabilities in Asia
Pacific, the Middle East, and the Americas, and the rising demand for
radar systems worldwide, as militaries seek to replace legacy systems.
The market is further driven by increasing focus on safety, comfort, and
assistance features in vehicles.
Ask for Informational PDF:
“The radar sensor market for automotive applications is expected to grow rapidly during the forecast period”
The
radar sensor market for automotive applications is expected to grow at a
high rate during the forecast period. The main factors driving the
growth of this market include the increasing adoption of radar sensors
for various applications, increasing benefits of radar sensor as
compared to other remote sensing technologies, the growing number of
accidents on global basis, and comfort, safety, and assistance features
offered by using radar sensors. Some of the major automotive
applications that use radar sensors are blind spot detection, lane
departure warning, object detection system, adaptive cruise control
(ACC), and stop-&-go functionality.
“The non-imaging radar sensor market to have potential growth by 2023”
The
market for non-imaging radar sensors is expected to grow at the highest
rate during the forecast period. This is mainly because of their wide
usage in most of the high-end applications such as defense, automotive,
and traffic monitoring. Various applications of defense need constant
tracking and analyzing, which is mostly done with the help of
non-imaging radar. Additionally, the increasing military expenditure by
developing countries is also an important factor to drive the overall
growth of the non-imaging radar sensor market.
“Radar sensor market in APAC expected to grow at the highest rate during the forecast period”
Radar
sensors and systems are increasingly being implemented in APAC, owing
to the growing demand from automotive and military investment. Moreover,
APAC is one of the potential markets for the unmanned vehicles as
countries such as China, India, Japan, Australia, and South Korea among
others are actively trying to strengthen the military system. The
geopolitical dynamics of the region have a major role to play in the
measures taken by major economies such as India and China toward the
enhancement of military capabilities and strength.
Get Free 10% Customization on this Report:
Major
companies involved in the development of radar sensor such as 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. (The
Netherlands), and Smart Microwave Sensors GmbH (Germany).
About MarketsandMarkets™
MarketsandMarkets™
provides quantified B2B research on 30,000 high growth niche
opportunities/threats which will impact 70% to 80% of worldwide
companies’ revenues. Currently servicing 7500 customers worldwide
including 80% of global Fortune 1000 companies as clients. Almost 75,000
top officers across eight industries worldwide approach
MarketsandMarkets™ for their painpoints around revenues decisions.
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com
No comments:
Post a Comment