- 14 August 2019 21:07
Radar Sensors Market Enroll Strong Growth, Technology Advances
Owing to the adoption of radar sensors in logistics, traffic management, industrial, automotive, and smart home applications, the need for radar sensors is likely to surge considerably in the forthcoming years. Increasing penetration of smart homes will further result in an increasing adoption of smart devices integrated with radar sensors, thus, driving the market growth.
-Growing adoption of radar sensors in several applications
-One of the growth drivers of the global radar sensors market is the growing adoption of radar sensors in several applications. The adoption of radar sensors in logistics, traffic management industrial, automotive, and smartphone application is increasing, which will drive the growth of the market. Growing adoption of LiDAR sensors
-One of the challenges in the growth of the global radar sensors market is the growing adoption of LiDAR sensors. This is due to their low price when compared with radar sensors, which is affecting the sales of radar sensors and hinder the growth of the market.
-For the detailed list of factors that will drive and challenge the growth of the radar sensors market during 019-2023, view our report.
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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 Acumen Research and Consulting.
The players profiled in the report Inelta Sensor Systems GmbH & Co. KG, Micro-Epsilon, Solartron Metrology, Trans-Tek Inc., RDP Electronics Ltd., Kyowa Electronic Instruments Co., Ltd., and among others.
The global radar sensors market is segmented as below:
Market By Type: Imaging Radar, CW Radar, Pulse Radar, Non-Imaging Radar, Speed Gauge, Altimeter
Market By Frequency Band: HF, VHF and UHF Bands, L, S, C and S Bands, Ku, K, Ka, V and W Bands
Market By Range: Short Range Radar, Mid Range Radar, Long Range Radar
Market By Vertical: Commercial, Government, Industrial
Market By Application: Aerospace & Defense, Automotive, Industrial, Security & Surveillance, Environmental & Weather Monitoring, Traffic Monitoring & Management
Market By Geography: North America, Europe, Asia Pacific, Latin America, Middle East and Africa (MEA)