Radar Sensors Market Size
|Study Period:||2018 - 2028|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
*Disclaimer: Major Players sorted in no particular order
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Radar Sensors Market Analysis
The radar sensors market is expected to grow by registering a CAGR of 17.8% during the forecast period. The rapidly increasing automation, such as the developments toward autonomous driving and the progression of Industry 4.0, indicates the increasing demand for presence and motion detection for enhanced safety and control, driving the need for radar sensors.
- The applications of radar sensors are becoming more diverse, and commercialization in the sector is accelerating, owing to significant advancements in digital and RF/microwave technologies. There are various radar applications, from traditional defense and surveillance to automotive radar for driver assistance to biomedical radar for imaging, monitoring, and treatment. The competitive environment demands rapid design cycles, system integration, prototyping, and testing for all these applications.
- Due to affordable high-frequency components, novel packaging solutions, and advanced production processes, radar sensors are no longer huge and expensive systems. They are low-cost solutions for measurement tasks that cannot be delivered with traditional optical or acoustic/ultrasound systems. The market for radar sensors is dominated by the automotive, industrial, and building automation solution segments, owing to the increasing demand for precision in detection.
- Vendors in the market offer radar sensors based on range and technology (continuous and pulsating). Long-range radar applications are based on 77-GHz frequency. However, 79GHz also gains traction for short and mid-range applications, like industrial and automotive, owing to the higher form factor with 3X smaller antennas. It also has the benefit of a wide frequency band of 4GHz (77 to 81 GHz). Furthermore, the implementation of corner radar for 360-degree surveillance of the car, supported by short- and mid-range radars of 24 GHz, is gaining traction for high-resolution tracking. This enhances target separation or objects recognition with high channel numbers for high-resolution imaging radar.
- Considering the growth potential, the vendors are increasingly focusing on launching innovative solutions to cater to various requirements of the end markets. For instance, in May 2021, HELLA put the latest 77GHz radar technology into series production for passenger cars. The radar can continually record the environment, recognize people and other traffic participants and objects in the immediate vicinity of the car, and provide accurate results regardless of lighting conditions.
- However, factors such as limited field of vision and limitations in the detection capabilities when there is a speed difference between vehicles are some of the major factors challenging the growth of the studied market.
- With the outbreak of the COVID-19 pandemic, the automotive industry has been one of the worst-hit sectors due to the high expenditure required, keeping buyers away from discretionary spending during times of global economic uncertainty. Radar Sensors firms are likely to create effective crisis-management methods, with a focus on next-generation goods and solutions, to emerge stronger from the COVID-19 disaster. Budgets for Radar Sensors R&D are being cut modestly. Constant market trend monitoring for Radar Sensors, systematic investment/divestment techniques, carefully launching marketing plans, strengthening long-term contracts, and others.
Radar Sensors Industry Segmentation
Radar sensors use frequency-modulated continuous wave radar to detect moving and stationary objects in extreme conditions, including cars, trains, buses, trucks, and cargo. Radar-based sensors are ideal for collision avoidance onboard mobile equipment, such as reach stackers, forklifts, and mining vehicles, or port machineries, such as carriers, handlers, and shippers.
The report offers a comprehensive analysis of various types of radar sensors, the end user market trends, and future opportunities. The study also includes the impact analysis of COVID-19 on the radar sensor market.
|Short-range Radar Sensor|
|Medium-range Radar Sensor|
|Long-range Radar Sensor|
|By End User|
|Security and Surveillance|
|Environment and Weather Monitoring|
|Other End Users|
|Middle East & Africa|
Radar Sensors Market Trends
This section covers the major market trends shaping the Radar Sensors Market according to our research experts:
Automotive Sector to Hold Significant Market Share During the Forecast Period
- The robust growth of the autonomous car market has been instrumental in driving the radar sensor market. For instance, according to OICA, in 2021, about 80 million motor vehicles were produced worldwide. This was an increase of about 3% compared to the previous year (2020).
- Radar sensors for cars are primarily deployed for blind spot detection (BSD), collision mitigation (CM), lane change assistance (LCA), parking aid (PA), and rear cross-traffic alert (RCTA) features. The growth in the automotive radar sensor market is attributed mainly to the increasing AEB (automatic emergency braking) applications in the 77 GHz radar market.
- The radar technology is driven by the New Car Assessment Program among OEMs, as they integrate these systems to complement camera devices for ADAS applications. Radars, combined with other sensors, provide enhanced information on safety and collision avoidance.
- With the recent focus on safety in the United States, such as the release of new federal guidance for automated vehicles- Automated Vehicles 3.0 by the NHTSA, the market potential for ADAS has been extended to mid-end cars, resulting in a production volume increase. Many brands are increasingly employing radar sensors. The factors above are significantly impacting the market for radar sensors.
- Furthermore, with the advent and demand for smart and self-driving cars, the market for radar sensors is expected to grow significantly, owing to the developments in the automotive sector. There are several vendors offering radar sensors for the automotive industry. For instance, Infineon provides a range of RASIC 77/79 GHz front-end radar sensor ICs as part of its comprehensive XENSIV family of sensors. These sensors are specifically designed for driver assistance systems, such as collision warning and adaptive cruise control.
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North America to Hold Significant Share of the Radar Sensors Market
- The North American radar sensor market is driven by high-end defence applications, smartphone penetration, autonomous cars, and consumer electronic devices. The increase in FMCW applications is gaining momentum in the region, especially short-range applications, as the region has the highest defence expenditure in the world. For instance, in 2021, US military spending amounted to USD 801 billion (Source: Stockholm International Peace Research Institute).
- The North American region is a pioneer in adopting new technologies, such as smart grids, smart homes, smart water networks, intelligent transport, and infrastructure with radar sensors technology. The advancement in rada sensor technology is expected to open new use cases across these industries, creating growth opportunities for the vendors.
- The high penetration rate of smartphones is also expected to drive the demand for radar sensors as smartphone manufacturers increasingly include new sensors and features in their smartphones. According to GSMA, by the end of 2025, 5G will account for almost two-thirds of North America's mobile connections, equivalent to nearly 270 million connections.
- Considering the benefits associated with the radar sensors, several public and private organizations are increasing their R&D efforts to further improve the efficiency of radar sensors which is expected to positively impact the growth of the studied market. For instance, in June 2022, a leading automotive manufacturer in the United States, registered a new high resolution radar unit with the U.S. Federal Communications Commission (FCC).
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Radar Sensors Industry Overview
The radar sensors market is fragmented due to the presence of many players. Some of the prominent players in the market include Robert Bosch Gmbh, Lockheed Martin Corporation, NXP Semiconductors, and Infineon Technologies, among others. The industry has undergone several developments over the past few years that have significantly transformed the studied market. Some of the recent developments in the market include -
- July 2022 - Gapwaves, a Swedish tech company, and Bosch, a leading global automotive supplier, announced their partnership for developing and large-scale production of high-resolution radar antennas for automotive vehicle applications. As part of the joint development, Gapwaves will support with its antenna know-how, and Bosch will contribute with its know-how of radar sensors and automated driving.
- May 2022 - Infineon Technologies launched XENSIV 60 GHz automotive radar sensor (BGT60ATR24C). These sensors are designed for use in in-cabin monitoring systems (ICMS) to detect micro-movements and vital signs of left-behinds and sound the alarm. Additionally, the sensor chipset also addresses applications such as high-resolution frequency modulated continuous wave (FMCW) radars for distance measurement, front-end radar for gesture sensing, short-range sensing operations, as well as other hidden sensing applications.
Radar Sensors Market Leaders
Robert Bosch GmbH
Lockheed Martin Corporation
NXP Semiconductors NV
Infineon Technologies AG
*Disclaimer: Major Players sorted in no particular order
Radar Sensors Market News
- February 2022 - NXP Semiconductor announced that smartmicro, one of its partners, had made an important next step and developed a 4D imaging radar sensor with NXP’s 6th generation flagship radar processor S32R45 that cascades four TEF8232 transceivers with a total of 192 virtual channels for delivering an angular resolution of one-degree at a distance up to 300 meters.
- January 2022 - DENSO, a leading mobility supplier, announced that it had developed the Global Safety Package, an active safety system designed to improve the safety of vehicles by giving them high sensing capability of their surroundings. The safety package offers a combined performance of a vision sensor and a millimeter-wave radar sensor to assist the driver in controlling the vehicle safely.
Radar Sensors Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Intensity of Substitute Product
4.3.5 Threat of Competitive Rivalry
4.4 Impact of COVID-19 on the Radar Sensor Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Need for National Security
5.1.2 Increasing Number of Autonomous Cars and Focus on Security and Safety Needs
5.2 Market Challenges
5.2.1 High R&D and Maintenance Costs
6. MARKET SEGMENTATION
6.1 By Type
6.1.1 Imaging Radar
6.1.2 Non-imaging Radar
6.2 By Range
6.2.1 Short-range Radar Sensor
6.2.2 Medium-range Radar Sensor
6.2.3 Long-range Radar Sensor
6.3 By End User
6.3.2 Security and Surveillance
6.3.4 Environment and Weather Monitoring
6.3.5 Traffic Monitoring
6.3.6 Other End Users
6.4 By Geography
6.4.1 North America
6.4.4 Latin America
6.4.5 Middle East & Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Robert Bosch GmbH
7.1.2 Continental AG
7.1.3 Denso Corporation
7.1.4 Delphi Automotive LLP
7.1.5 Hella KGaA Hueck & Co.
7.1.6 Infineon Technologies AG
7.1.7 Baumer Group
7.1.8 Lockheed Martin Corporation
7.1.9 NXP Semiconductors NV
7.1.10 Smart Microwave Sensors GmbH
7.1.11 InnoSenT GmbH
7.1.12 Veoneer Inc.
7.1.13 STMicroelectronics NV
7.1.14 Hitachi Automotive Systems (Hitachi Ltd)
7.1.15 Banner Engineering Corporation
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Radar Sensors Market Research FAQs
What is the study period of this market?
The Radar Sensors Market is studied from 2018 - 2028.
What is the growth rate of Radar Sensors Market?
The Radar Sensors Market is growing at a CAGR of 17.8% over the next 5 years.
Which region has highest growth rate in Radar Sensors Market?
Asia Pacific is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Radar Sensors Market?
North America holds highest share in 2021.
Who are the key players in Radar Sensors Market?
Robert Bosch GmbH, Lockheed Martin Corporation, NXP Semiconductors NV, Infineon Technologies AG, Denso Corporation are the major companies operating in Radar Sensors Market.
Radar Sensors Industry Report
Statistics for the 2023 Radar Sensors market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Radar Sensors analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.