Radar Sensor Market Size

Radar Sensor Market size is expected to reach USD 35 Billion by the end of 2035, witnessing around 14% CAGR during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of radar sensors was USD 12 Billion. The growth of the market can be attributed to growing demand for automobile among people. For instance, in 2020, there were about 275,924,400 registered automobiles in the US. From 2015 and 2020, the number of registered automobiles in the US increased by approximately 3%. Hence, the demand for radar sensors is estimated to grow. Moreover, vehicles frequently use radar sensors for functions such as blind spot detection (BSD), lane change assistance (LCA), collision mitigation (CM), parking assistance (PA), and rear cross traffic alert (RCTA). 

Moreover, radar sensors are no longer massive and expensive systems owing to low-cost high-frequency components, creative packaging ideas, and cutting-edge manufacturing techniques. These are affordable options for measurement tasks that conventional optical or acoustic/ultrasound devices are unable to perform. Radar technologies' capacity to detect and monitor human presence and movement—from large-scale movements of the entire body to minute movements of specific body parts—has led to a rise in their use in healthcare applications. In comparison to other technologies (wearable, video, or ambient sensors), radar does not record plain images of persons or environments (helping with potential privacy concerns) and does not necessitate users wearing, carrying, or interacting with extra devices (helping with potential issues of acceptance and compliance).