TMCnet News

Radar Sensor Market by Type, Technology, Component, Band, Range, Application, Vertical, and Geography - Global Forecast to 2023 - Research and Markets

[August 14, 2017]

Radar Sensor Market by Type, Technology, Component, Band, Range, Application, Vertical, and Geography - Global Forecast to 2023 - Research and Markets

The "Radar Sensor Market - Global Forecast to 2023" report has been added to Research and Markets' offering.

The radar sensor market is expected to grow from USD 5.95 billion in 2016 to USD 20.64 billion by 2023, at a CAGR of 19.51% between 2017 and 2023. The growth of this market is driven by the increasing focus on safety and security needs in automotive applications, and increasing need for border security systems. This market is further driven by unlocking the wideband 5G and millimeter wave-based RF system capabilities.

Technology has become more advanced and mainly focused on the safety and security needs in various applications such as vehicle collision assistance, industrial and public safety, and robotic assistance. Technological advances permit proactive safety features such as collision mitigation system and vulnerable road user detection. These increasing features are used for combating the increasing worldwide accidental rate. Due to these reasons, the automotive companies are implementing radar sensors and systems within its cars.

p> Increasing autonomous car developments in APAC and the growing demand for radar sensors and systems in countries such as China, Japan and India are driving the growth of the radar sensor market. This region has become a global focal point for large investments and business expansion opportunities. As of 2016, China (with 28,118,794 units), Japan (with 9,204,590 units), South Korea (with 4,228,509 units), and India (with 4,488,965 units) were among the top largest automobile manufacturers worldwide.

Companies Mentioned