The Radar Sensor Market will register a CAGR of over 19.51% by 2023-New Report

According to Market Study Report, Radar Sensor Market provides a comprehensive analysis of the Radar Sensor Market segments, including their dynamics, size, growth, regulatory requirements, technological trends,competitive landscape, and emerging opportunities of global industry. This report also provides market landscape and market share information in the Radar Sensor Market. An exclusive data offered in this report is collected by research and industry experts team.

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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. This report spread across 219 Pages, Profiling 10 Companies and Supported with 68 Tables and 86 figures are now available in this research.

Top Companies profiled in the Radar Sensor Market:

  • Robert Bosch GmbH (Germany)
  • Continental AG (Germany)
  • Denso Corporation (Japan)
  • Delphi Automotive LLP (UK)
  • HELLA KGaA Hueck & Co (Germany)
  • Autoliv Inc. (Sweden)
  • Infineon Technologies AG (Germany)
  • Lockheed Martin Corporation (US)
  • NXP Semiconductors N.V. (Netherlands)
  • Smart Microwave Sensors GmbH (Germany)

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“Market for automotive application to hold a major share of the radar sensor market during the forecast period”

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.

“Radar sensor market in APAC expected to witness the highest growth during the forecast period”

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) (Source: Production Statistics – OICA) were among the top largest automobile manufacturers worldwide.

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