In a recent published report, Kenneth Research has updated the market report for Radar Sensor Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Radar Sensor Market products.
By Technology (RF MEMS-based radar sensors, Millimeter wave, Time Domain Reflectometry, Ultra-Wideband), Component (Video Amplifier, Processing, Antenna, Transmitter, Duplexer, Receiver), Band (L, S, C, and X Bands, Ku, K, Ka, V, and W Bands, HF, VHF, and UHF Bands), Range (Short-Range Radar, Mid-Range Radar, Long-Range Radar), Type (Speed Gauge, Altimeter, Imaging Radar, CW Radar, Pulse Radar, Non-imaging Radar), Vertical, and Regional Market Size, Status and Forecast to 2025
The Global Radar Sensor Market was valued at USD 5.86 billion in 2016 and is projected to reach USD 29.39 billion by 2025, growing at a CAGR of 19.62% from 2017 to 2025.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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Radar Sensor is a system that provides advanced precision targeting, navigation, threat detection, next generation intelligence, surveillance, and reconnaissance capabilities. There are several benefits of radar sensor system including – capable of detecting motion, measuring speed, long range detection, the angle of arrival, the direction of movement, immunity to ambient weather conditions, low total cost of ownership, and fast reaction to position changes through a very fast response time.
1. Market Drivers
1.1 Increasing military spending in developing countries
1.2 Increasing focus on safety and security needs in automotive application
1.3 Rising need for border security systems
1.4 Adoption of advanced driver assistance systems and driverless concepts in the automotive sector
1.5 Increasing awareness about the wideband 5G and millimeter wave–based RF system capabilities
2. Market Restraints
2.1 Rising development cost
2.2 High maintenance cost of radar sensor installed in cars
2.3 Electronic warfare
The Global Radar Sensor Market is segmented on the technology, component, band, range, type, vertical, and region.
1.1 RF MEMS-based radar sensors
1.2 Millimeter wave
1.3 Time Domain Reflectometry
2. By Component:
2.1 Video Amplifier
3. By Band:
3.1 L, S, C, and X Bands
3.2 Ku, K, Ka, V, and W Bands
3.3 HF, VHF, and UHF Bands
4. By Range:
4.1 Short-Range Radar
4.2 Mid-Range Radar
4.3 Long-Range Radar
5. By Type:
5.1 Speed Gauge
5.3 Imaging Radar
5.4 CW Radar
5.5 Pulse Radar
5.6 Non-imaging Radar
6. By Vertical:
6.1 Traffic Monitoring and Management
6.2 Environmental and Weather Monitoring
6.5 Aerospace and Defense
6.6 Security and Surveillance
7. By Region:
7.1 North America (U.S., Canada, Mexico)
7.2 Europe (Germany, UK, France, Rest of Europe)
7.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
7.4 Latin America (Brazil, Argentina, Rest of Latin America)
7.5 Middle East & Africa
The major players in the market are as follows:
1. Continental AG
2. Delphi Automotive LLP
3. Infineon Technologies AG
4. NXP Semiconductors N.V.
5. Smart Microwave Sensors GmbH
6. Robert Bosch GmbH
7. Denso Corporation
8. Hella KGaA Hueck & Co
9. Autoliv Inc.
10. Lockheed Martin Corporation
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global Radar Sensor Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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