The Global Radar Sensors Market was valued at USD 10.32 billion in 2019, and is likely to reach USD 22 billion in 2025, registering a CAGR of 20.04% in (2020-2025). Rapidly increasing automation, such as developments towards autonomous driving and the advancement of Industry 4.0, signify the growing interest in presence and motion detection to improve safety and control.
ZF Friedrichshafen AG collaborates with the Open Manufacturing Platform (OMP), which was announced in 2019 by the BMW Group and Microsoft. The goal of this program is to enable faster and more profitable innovations in the manufacturing industry.
Market Drivers and Restraints:
Today, the technology has become more advanced and is mainly focused on safety needs in different applications such as vehicle crash assistance, industrial and public safety and robotic assistance. In addition, radar sensors are used because they provide precision and offer unique security solution capabilities with maximum performance. These sensors provide low power consumption, small footprint, integrated data processing, and faster response time. These elements make radar sensors commercial in applications such as automotive, transportation, home automation, energy efficiency, industrial and public safety.
A radar sensor can be installed in a vehicle during its production, and this vehicle can be extended for sale in almost any country. A private individual can buy it separately and it can be misused, which can lead to accidents and losses. Also, it is illegal in some countries and failure to follow this rule could result in fines, device seizure, or both. The use of radar detectors in various situational applications is prohibited.
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Report is segmented as:
Time domain reflectometry
Imaging radar (primary type)
Continuous wave (CW) radar
Non-imaging radar (secondary type)
Aerospace & Defense
Security & Surveillance
Smart electronics devices
Based on the geography, the global radar sensors market is divided into regions of the Asia Pacific, Latin America, North America, Europe, the Middle East and Africa. Among these regions, North America holds the biggest share and likely to expand with a considerable growth rate.
Key market players:
Significant players of this market are NXP Semiconductors N.V., Delphi Automotive PLC, ZF Friedrichshafen AG, Denso Corporation, Continental AG, Robert Bosch GmbH, Airbus Group, Infineon Technologies AG, Lockheed Martin Corporation, Autoliv Inc, and Raytheon Company.
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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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