Radar Sensor Market Size, Share, And Growth Report 2032

Radar Sensor Market: Size

The global Radar Sensor Market size was worth around USD 32.47 billion in 2023 and is predicted to grow to around USD 141.84 billion by 2032 with a compound annual growth rate (CAGR) of roughly 17.8% between 2024 and 2032.

The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD billion). The report covers a forecast and an analysis of the Radar Sensor Market on a global and regional level.

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Radar Sensor Market: Overview

The global radar sensor market is expected to witness notable growth in the future, owing to the increasing use of automation in various industrial applications. These sensors are integrated with cameras of industrial vehicles and robots. In 2017, industrial robot sales reached around 381 thousand units as compared to 294 thousand units in 2016. From 2012 to 2017, the average annual robot sales increased to 19%. This number is anticipated to rise as most of the top manufacturers are focusing on using technology to automate various manufacturing processes. Samsung, Volkswagen, and LG are investing in automated machinery that will lead to an increased demand for radar sensors over the forecast time period.

Government initiatives for funding various smart city projects are likely to drive the demand for traffic management technologies. Traffic management solutions play a vital role in smart city projects. A major portion of these expenses was incurred on the systems that manage traffic effectively. Thus, it is anticipated that rising investments in smart city projects will further boost the demand for radar sensor market in the future. However, the high initial investments for the manufacturing of these sensors may be a major constraint of the radar sensor market globally. Alternatively, the increasing adoption of radar sensors in the automotive sector will open new growth avenues for the radar sensor market over the forecast timeline.

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Radar Sensor Market: Segmentation

The study provides a crucial view on the radar sensor market segmenting it based on product, technology, range, application, end-use, and region. All the segments of the radar sensor market have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

Pulse radar, altimeter, CW radar, imaging radar, speed gauge, and others form the product segment of the global radar sensor market. Ultra-Wideband (UWB), Time Domain Reflectometry (TDR), Millimeter Wave, RF MEMS, and others form the technology segment of the radar sensor market. The range segment includes short-range radar, mid-range radar, and long-range radar. Environmental and weather monitoring, driving assistance, traffic monitoring and management, security and surveillance, and others form the application segment. The government, industrial, and commercial comprise the end-use segment of the market.

Radar Sensor Market: Report Scope

Radar Sensor Market: Regional Analysis

The regional segment comprises the current and forecast demand for the Middle East and Africa, North America, Asia Pacific, Latin America, and Europe with its further division into the U.S., Canada, Mexico, UK, Germany, France, Spain, Italy, China, Japan, India, South Korea, Taiwan, Brazil, Argentina, UAE, Saudi Arabia, and South Africa.

By region, North America will hold a notable share of the global radar sensor market over the forecast time span. The U.S. is considered as a major contributor toward the upsurge of this regional market, owing to the rising investments in traffic management technologies. Furthermore, the U.S. defense sector is focusing on increasing its budget related to security and surveillance devices. Europe is expected to witness a substantial rise in the radar sensors demand due to the introduction of autonomous vehicles. UK and Germany are considered to be the most lucrative countries for the radar sensor manufacturers in Europe in the years ahead.

Radar Sensor Market: Competitive Players

Some noticeable players of the global radar sensor market are Continental AG, Delphi Automotive LLP, Robert Bosch GmbH, Hella KGaA Hueck & Co., NXP Semiconductors N.V., Smart Microwave Sensors GmbH, Denso Corporation, Lockheed Martin Corporation, Infineon Technologies AG, and Autoliv Inc., among others.

The Global Radar Sensor Market is segmented as follows:

Global Radar Sensor Market: Product Analysis

• Pulse Radar
• Altimeter
• CW Radar
• Imaging Radar
• Speed Gauge
• Others

Global Radar Sensor Market: Technology Analysis

• Ultra-Wideband (UWB)
• Time Domain Reflectometry (TDR)
• Millimeter Wave
• RF MEMS
• Others

Global Radar Sensor Market: Range Analysis

• Short-Range Radar
• Mid-Range Radar
• Long-Range Radar

Global Radar Sensor Market: Application Analysis

• Environmental and Weather Monitoring
• Driving Assistance
• Traffic Monitoring and Management
• Security and Surveillance
• Others

Global Radar Sensor Market: End-Use Analysis

• Industrial
• Government
• Commercial

Global Radar Sensor Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa