The global radar sensors market 2019-2023 is expected to post a CAGR of
nearly 18% during the forecast period, according to the latest market
research report by Technavio.
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Technavio has published a new market research report on the global radar sensors market from 2019-2023. (Graphic: Business Wire)
Drones or UAVs are increasingly used in military and defense
applications by many countries. Radar sensors are the vital components
in autonomous flying drones. These sensors identify obstacles and ensure
smooth navigation. Recently, Ainstein announced the launch of their new
customizable radar sensors, Ultra Long-Range Airborne (ULAB-D1) and
Ultra Long-Range Ground-Based (ULGB-D1) for drone applications. These
radar sensors can detect objects more than 1,000 meters away and can
also be used as altimeters. The growing demand for UAVs will increase
the adoption of such radar sensors in drones, in turn, driving the
growth of the global radar sensors market during the forecast period.
This market research report on the global
radar sensors market 2019-2023 also provides an analysis
of the most important trends expected to impact the market outlook
during the forecast period.
In this report, Technavio highlights the growing adoption of sensor
fusion technology as one of the key emerging trends in the global radar
sensors market.
Global radar sensors market: Growing adoption
of sensor fusion technology
Sensor fusion technology collects information from various sensors and
the AI processing system decides the action to be taken based on the
collected information. The technology is being adopted in the automotive
sector to improve safety. OEMs are collaborating with camera
manufacturers to develop and integrate radar sensors into a single
module in a vehicle. The integration of such sensors collects raw
information and advice the vehicle’s control unit. For instance, Tram
builder PK Transportnye Systemy partnered with Cognitive Technologies to
develop a tram integrated with cameras and sensors to process raw data.
The cameras integrated with radar sensors can recognize objects with
high accuracy. Furthermore, these systems are being increasingly adopted
in most of the vehicles. The trend of fusing radar and image sensors
helps in cost reduction and is expected to fuel the growth of the market.
“Autonomous cars incorporate various sensors such as radars for its
operation. Honda Motor recently announced its plans to invest in General
Motors Co’s Cruise self-driving vehicle. One of the leading automobile
manufacturers, Daimler, announced a partnership with Robert Bosch to
develop autonomous vehicles. Increased investments in autonomous
vehicles that require radar sensors will drive the growth of the global
radar sensors market over the forecast period”, says an analyst at
Technavio.
Global radar sensors market: Segmentation
analysis
This market report segments the global radar sensors market by
application (automotive, aerospace and defense, industrial, and others),
by product (non-imaging sensors and imaging sensors) and geography
(APAC, Europe, MEA, North America, and South America).
Europe led the market in 2018 with a market share of more than 34%,
followed by North America, APAC, MEA, and South America respectively.
The dominance of Europe can be attributed to the presence of major
automobile manufacturers such as Volkswagen, BMW, Audi, and Porsche that
is focusing on developing autonomous vehicles.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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