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).
Growth Drivers
Growing Use of 5G Technology in Radar Sensing - A recent study into the potential application of 5G as radar-such as surveillance equipment was supported by the US Air Force and the US Department of Defense. The study was sponsored with an about USD 296k grant from the Air Force Office of Scientific Research's Dynamic Data and Information Processing programme, and the required equipment was purchased with an approximately USD 294k grant from the DOD's Defense University Research Instrumentation Program.
Rising Geriatric Population - According to the World Health Organization, one in six individuals on the planet would be 60 or older by 2030. By this point, there would be 1.4 billion people over the age of 60, up from 1 billion in 2020. Growing age brings various health related issues. Hence, in order to identify those issues biomedical radar for imaging, monitoring and treatment is used. Large number of adults above 60 are estimated to have monthly monitoring. Therefore, this factor is estimated to boost the growth of the market.
Government Stringent Policy to Make Radar Mandatory in Vehicles - By 2022, the government of India intends to have an advanced driver assistance system (ADAS) as a requirement for all passenger cars and large vehicles, such as trucks and buses. The transport minister stated that by 2021, these elements were expected to be required in several western nations, leading the Indian government to decide to improve their plan as well.
Upsurge in Adoption of Radar Sensors in Traffic Monitoring - According to the Federal Highway Administration (FHWA), junctions or areas close to them account for more than half of all fatal and injury crashes. Researchers from the University of Arizona, Siyang Cao, Yao-jan Wu, Feng Jin, and Xiaofeng Li, have addressed the issue in their most recent report funded by the National Institute for Transportation and Communities (NITC), Development of Intelligent Multimodal Traffic Monitoring using Radar Sensor at Intersections, by creating a high-resolution radar sensor that can accurately distinguish between vehicles and pedestrians. Regardless of the illumination and weather conditions, this sensor also provides information about the counts, speeds, and directions of each moving target.
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~14% |
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Base Year Market Size (2022) |
~ USD 12 Billion |
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Forecast Year Market Size (2035) |
~ USD 35 Billion |
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Regional Scope |
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Range (Short-Range, Medium-Range, Long-Range)
The global radar sensor market is segmented and analyzed for demand and supply by range into short-range, medium-range, and long-range radar sensor. Out of which, the long-range radar sensor is estimated to garner the highest revenue by the end of 2035. The growth of the segment can be attributed to its growing use in vehicles, in order to prevent accidents. In India, a total of about 4,12,400 traffic accidents were reported during the course of 2021, killing approximately 1,53,900 lives and injuring about 3,84,4oo others. Driver distraction, which is defined as the divergence of attention away from tasks essential for safe driving towards a competing activity, is becoming more widely acknowledged as a major contributor to accidents, injuries, and fatalities on the road. Hence, the demand for high-range radar sensor is growing. Moreover, this radar sensor is also being extensively used in aircraft radar system. Long-range radars are used to constantly track the locations of both ally and adversary aerial systems. They are designed to actively detect and track multiple targets at long ranges. These radars provide superior situational awareness at all times by enabling command and control centres to create an accurate, current Recognized Air Picture (RAP).
Application (Automotive, Aerospace & Defense, Industrial, Government & Public Infrastructure)
The global radar sensor market is also segmented and analyzed for demand and supply by application into automotive, aerospace & defense, industrial, and government & public infrastructure. Amongst these, the automotive segment is expected to have significant growth over the forecast period, backed by growing demand for self-driving cars. Moreover, vehicle autonomy levels have improved as a result of tremendous innovation in the automotive sector. The transition from human-driven to autonomous or self-driven cars has been observed in the sector. All automakers are starting to produce autonomous vehicles, and they are vying for market supremacy by offering the most advanced models. Moreover, automakers are concentrating their efforts on sensor research and development, since autonomous vehicles depend on a variety of sensors for navigation.
Our in-depth analysis of the global market includes the following segments:
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By Type |
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By Range |
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By Application |
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North American Market Forecast
The North American radar sensor market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035, backed by the significant military and defense capacities in North American nations such as the US and Canada, along with advancement in technologies backed by presence of key suppliers and companies of radar sensors. Moreover, in 2020, the technological business of Continental produced a significant quantity that improved the safety of millions of automobiles. The North American division of Continental's Advanced Driver Assistance Systems (ADAS) business unit reported producing 30 million radar sensors. These sensors serve as a crucial safety element and the foundation for automated driving. Hence, this factor is also estimated to boost the growth of the market in this region. Additionally, there has been a growing trend of autonomous vehicles in this region which is also encouraging manufactures to manufacture more radar sensors.
Europe Market Forecast
The Europe radar sensor market, amongst the market in all the other regions, is projected to grow with the highest CAGR during the forecast period. The growth of the market in this region can be attributed to increased investment by regional industries in modernizing their manufacturing facilities and infrastructure. Moreover, there has been a growing trend of industry automation in Europe, backed by demand and labor force seasonality. Since automation reduces errors and waste, boosts production and efficiency, and enhances profit margins, the industry becomes more competitive. Hence, owing to this, the market for radar systems in this region is estimated to increase. Additionally, the region's expanding production of new aircraft and military vehicles would encourage market players to accelerate the pace of their R&D and product development for radar sensing technologies.
APAC Market Statistics
Additionally, the market in Asia Pacific region is also estimated to have a significant growth over the forecast period, backed by growing aerospace & defense sector. Radar sensors are being widely adopted by the aerospace and defense industries for a variety of applications, including air and terrestrial traffic management, anti-missile systems, and air defense systems. Moreover, manufacturers of radar sensors in the Asia Pacific would benefit from increased government spending on military and defense budgets to boost defense capability. Further, there has been a growing adoption of radar sensors in vehicles in this region. Moreover, countries such as China are extensively adopting robots in manufacturing and process industries. These Chinese businesses are being pushed to use automation owing to the aging population and rising labor costs. Hence, this factor is estimated to boost the growth of the market in this region.
Author Credits: Ipsheeta Dash, Sadaf Naaz
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