Radar Sensor Market Size, Share & Industry Analysis, By Type (Pulse Radar, Continuous-Wave Radar, Radar Altimeter, and Others), By Range (Short-range, Medium-Range, and Long-Range), By Application (Advanced driver assistance systems (ADAS), Monitoring and Communication, Security and Surveillance, Traffic Monitoring, Environment, and Weather Monitoring, Hump Yard and Rail Crossing, Health Monitoring, and Others), By Vertical (Automotive, Aerospace and Defence, Healthcare, Maritime, Manufacturing, Oil and Gas, and Others), and Regional Forecast, 2019-2032

The global radar sensor market size was valued at USD 13.22 billion in 2018 and is projected to grow worth USD 118.97 billion by 2032, exhibiting a CAGR of 17.8% during the forecast period. Europe dominated the radar sensor market with a market share of 34.30 % in 2018.

The growing use of these sensors in the systems specialized in early warning, situational awareness, and integrated air and missile defense are fueling the growth of the market. Automotive manufacturers are implementing short and mid-range corner radars of 24 GHz for providing 360-degree surveillance of the car. This will result in increase  in the demand for high-resolution imaging radars in the automotive sector, thereby accelerating the growth of the market. Furthermore, the rising popularity of sensor fusion technology, as well as rising integration in railways, is propelling the growth of the market. Additionally, growing initiatives to extend partnerships to develop advanced products and solutions, especially for the automotive sector, is expected to surge the growth of the market. For instance, in December 2019, Oculii Corporation, one of the leading providers of advanced software solutions for radar technology, entered into a strategic partnership with Infineon Technologies AG to develop advanced radar software technology solutions mainly for automotive applications to improve safety, reliability, and efficiency of autonomous vehicles in a cost-effective way.

MARKET TRENDS

Integration of Radar Sensors in Railways is Contributing to the Growth of the Market

Nowadays, these sensors are used in railways by obstacle detection unit for monitoring the rail tracks, checking, and remotely controlling track occupancy or vacancy. These sensors are mounted on rolling stock to ensure work safety and for reliable speed measurement. Additionally, the use of the advanced driver assistance systems (ADAS) radar sensors for the auto-correction of a trains' horizontal and vertical alignment is aiding the growth of the market. ADAS radar sensors help in the detection of partial or full blockage on the path of the train due to environmental conditions to permit safe operations. It serves the purpose of the high-level functions autonomous braking, and forward-collision warning.

Growing Use of Radar Sensor in the Healthcare Sector Fuels the Market Growth

The radar sensors are used in healthcare equipment to monitor vital signs such as heartbeat, respiration, and blood pressure, analyze gait and mobility levels, identify human activities to detect critical events such as falls quickly. For instance, in November 2017, Panasonic Corporation partnered with Kyoto University’s center of innovation, to provide an upgraded version of the radar-based device that could instantaneously and accurately measure the body's vital signals such as respiration and heartbeat. This updated version works on a wider 79-GHz frequency band to improve measurement and resolution.

MARKET DRIVERS

Increasing Demand for Radar Sensor in the Aerospace and Defence Sector to Augment the Growth of the Market

In the aerospace industry, radar sensors are used to ensure safety and security standards through detection of position and velocity of an object located at a distance such as an aircraft. These sensors help in improving safety and efficiency of commercial and military aircraft through accurate distance measurement. It is also used in airborne surveillance systems of spy planes to detect the surprising arrival of enemy forces and the tracking of other suspicious activities. It is used in aviation systems to provide detailed information regarding the missile type, trajectory, and target, and  also helps in the prior detection of missile attacks. Additionally,  advancements in the aerospace and defense equipment and instruments to sense the environment and detect obstacles is boosting the growth of the radar sensor market.

Growing Necessity to Ensure Safety and Security of Automotive Applications Drives the Growth of the Market

These sensors are used to sense the environment and provide data to adaptive cruise control systems and collision avoidance systems. In automotive applications, the primary role of these sensors is detecting blind-spots and providing advanced driving assistance as well as a lane departure warning. These sensors are also applicable in safety control systems to distinguish more clearly between the objects on the roads. The increasing number of government regulations for enhancing vehicle safety and the growing adoption of advanced driver-assistance systems (ADAS) technology is accelerating the demand for the product in the automotive sector.

Furthermore, the key players are investing in R&D to launch advanced sensors that operate on a new frequency band. For instance, in June 2016, HELLA GmbH & Co. KGaA, one of the leading suppliers of sensor technologies, introduced a 77GHz radar sensor with NXP’s RF CMOS radar chip that opens up new application options for automotive radar. Thus, the adoption of these sensors in the automotive industry is fuelling the radar sensor market growth.

MARKET RESTRAINT

Growing Adoption of LiDAR Sensors to Restrict the Market Growth

The application of LiDAR sensors is increasing rapidly in the market as it provides an exact 3D monochromatic image of an object as well as its shorter wavelength helps in the detection of smaller objects. These sensors operate on longer wavelengths, and thus are unable to provide a precise image of an object to the user. The lack of detection of smaller objects and deficiency of accurately and quickly measuring the distance between the objects as compared to LiDAR sensors are some of the factors hampering the growth of the radar sensor market.

SEGMENTATION

By Type Analysis

Continuous Wave Radar Segment Accounts for the Maximum Share

Based on the type, the global radar sensor market is divided into pulse radar, continuous-wave radar, radar altimeter, and others. The continuous wave radar segment accounts for the maximum market share. The adoption of continuous-wave radar is increasing in proximity sensors system, and sport accessories that operate from very long distances. It is also used in application in early-warning angle track (CWAT) implemented in surface-to-air missile systems that is usually operated beyond the range of 100 km.

By Range Analysis

Long-Range Segment to Augment the Largest Share

Based on the range, the global radar sensor market is classified into the short-range, medium-range, and long-range. The long-range segment accounts for the maximum share of the market owing to the rising adoption in radar-based driver assistance systems. These sensors are mainly used to ensure vehicle safety and security as it provides excellent long-range detection with minimal interference from traffic in adjacent lanes. These sensors operate on high-frequency waves are also used in aircraft radar systems for precisely locating an incoming target from long distance.

By Application Analysis

Traffic Monitoring Segment to Hold the Largest Share

By application, the global radar sensor market is segmented into advanced driver assistance systems (ADAS), monitoring and communication, security and surveillance, traffic monitoring, environment and weather monitoring, hump yard and rail crossing, health monitoring, and others. Among these, the adoption has grown exponentially in traffic monitoring mainly to identify vehicles that exceed the maximum speed limit leading to excessive traffic. These sensors are used in a larger number of traffic monitoring applications including traffic light controls, wrong-way detection, speed enforcement, traffic classification, speed displays, and safeguarding train tracks & crossings.

By Vertical Analysis

Automotive Sector to Account for Maximum Share

Based on the verticals, the market is segmented into automotive, aerospace and defense, healthcare, maritime, manufacturing, oil and gas, and others. The automotive sector accounts for a significant market share in 2018, owing to the growing necessity to ensure the safety and security of vehicles. Furthermore, the growing trend of self-driving vehicles and advanced automotive applications based on radar technology such as collision avoidance systems, blind-spot detection systems, and automated parking systems is expected to surge the demand for the product in the automotive sector.

REGIONAL ANALYSIS 

Europe held the largest share in the global radar sensor market during the forecast period, owing to the growing initiatives of the prominent players in Germany to develop advanced products and solutions with a variety of different features and advanced progressions to suit automotive applications. For instance, in June 2019, Continental AG, an automotive manufacturing company, introduced a compact radar system for passenger cars to provide seamless 360-degree monitoring of the vehicle surroundings by positioning new sensors at all the four corners of the vehicle body.

North America radar sensor market holds the second leading position in the market by witnessing moderate growth in the long-term period, owing to the technological advancements in the aerospace and defense sector. Asia Pacific radar sensors market witnessed the highest CAGR in the market during the forecast period, owing to the rapidly developing automotive industry in countries such as Japan and India. For example, the India Brand Equity Foundation (IBEF) stated that the automotive sector of India is increasing by 9.5% year-on-year to 4.02 million units in 2017 and holds the fourth largest position in the world. Furthermore, the rising awareness about the advantages of these sensors in various sectors, including aerospace and defense, healthcare, and oil and gas, is fueling the growth of the market across the region.

KEY INDUSTRY PLAYERS

DENSO CORPORATION Focuses on New Product Development and Strategic Investments to Strengthen its Position in Market

• In August 2017, DENSO CORPORATION, one of the leading global automotive suppliers of advanced technology, introduced a 24-GHz submillimeter-wave back and side radar sensor for the automotive industry to enhance vehicle safety systems. This sensor helps in detecting objects in the back and side of the vehicle that helps in reducing accident risk.


• In May 2018, DENSO CORPORATION invested in Metawave Corporation, a US-based startup that develops millimeter-wave radar sensing technologies, to accelerate the development and improve performance of in-vehicle millimeter-wave radar sensors.

Prominent players are investing in research and development to launch advanced and cost-effective sensing technologies for IoT devices and smart home applications. They are also engaged in initiating strategic partnerships to integrate and make progressions in these sensors specially designed for the automotive sector to enhance autonomous driving functionality. Moreover, these companies are investing in new startups to strengthen their customer base in the automotive and aerospace industry. Furthermore, the well-settled players working in the market are focusing on acquiring small players to purchase innovative technology and enhance their product portfolio, which strengthens their market position. Furthermore, the prominent players of the global market are also involved in introducing an updated series of these sensors for a variety of different industrial applications with enhanced operational efficiency and low cost. Thus, to gain a competitive edge, prominent players are focusing on increasing their sales capacity and expanding their geographical boundaries through the adoption of organic and inorganic strategies.

LIST OF KEY COMPANIES PROFILED:

• Robert Bosch GmbH (Germany)


• Continental AG (Germany)


• Infineon Technologies AG (Germany)


• DENSO CORPORATION (Japan)


• ZF Friedrichshafen AG (Germany)


• HELLA GmbH & Co. KGaA (Germany)


• Lockheed Martin Corporation (US)


• s. m. s. smart microwave sensors GmbH (Germany)


• Oculi Corp (US)


• SICK AG (Germany)


• Socionext America Inc. (US)

KEY INDUSTRY DEVELOPMENTS:

• October 2019 - Socionext America Inc, one of the leading providers of advanced SoC solutions, released a new set of radio-wave ranging sensors with high sensitivity and low-power sensor technology for a varied range of smart home and IoT devices. This new set of low-cost SC1230 Series includes two products that can detect the movement and location of individuals with ultra-high degrees of sensitivity.


• January 2020 - HELLA GmbH & Co. KGaA, a lighting and electronics company, signed a strategic partnership agreement with Oculii Corporation, one of the leading providers of advanced software solutions for radar technology, to develop a series of high-performance, scalable radar solutions for both assisted and automated driving vehicles by 2030.

REPORT COVERAGE

Global radar sensor market report offers qualitative and quantitative insights on these sensors and the detailed analysis of market size & growth rate for all possible segments in the market.

Along with this, the report provides an elaborative analysis of market dynamics, emerging trends, and competitive landscape. Key insights offered in the report are the adoption of these sensors by individual segments, recent industry developments such as partnerships, mergers & acquisitions, consolidated SWOT analysis of key players, Porter’s five forces analysis, business strategies of leading market players, macro and micro-economic indicators, and key industry trends.

Report Scope &Segmentation