Market Size (2017)
2017
$8.59B
Vertical: AnDBase Year: 20179 Sections
Market Size (2017)
2017
$8.59B
Projected (2023)
2023
$25.25B
CAGR (2017–2023)
19.7%
19.7%Key Players
108+
Radar sensors consist of several components such as an antenna, a duplexer, transmitter, receiver, video amplifier, and processor for signal and data processing. Radar sensors are used in a number of industries including automotive, aerospace, defense, weather monitoring, and security and surveillance system manufacturing.
The global radar sensors market is estimated to register a 19.78% CAGR during the forecast period of 2018 to 2023. In 2017, the market was led by Europe with a 35.61% share, followed by North America and Asia-Pacific with shares of 29.22% and 27.05%, respectively.
The global radar sensors market has been segmented based on type, technology, component, and region. Based on type, the imaging radar segment accounted for the largest market share of 53.14% in 2017, with a market value of USD 4567.01 million and is projected to register a CAGR of 18.67% during the forecast period. Based on technology, the RF MEMS-based radar sensors segment accounted for the largest market share of 26.76% in 2017, with a market value of USD 2299.70 million and is projected to exhibit a CAGR of 20.11% during the forecast period. Based on component, the antenna segment accounted for the largest market share of 35.21% in 2016, with a market value of USD 3026.33 million and is projected to exhibit a CAGR of 20.43% during the forecast period.
The Radar Sensors Market market is projected to grow at a CAGR of 19.7% from 2017 to 2023.
Historical performance and future projections (2020–2030, USD Billion)
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View Subscription PlansA radar sensor is an electronic device used to detect the position and velocity of an object located at a distance such as an aircraft, ship, or automobile. Radar sensors detect electromagnetic rays with the help of a receiver and provide the position and distance of the object. They offer reliable detection of any object that falls within the detection cones, which makes them the ideal solution for collision avoidance and driver assistance. However, the working efficiency of radar sensors drops with the increase in distance between the object and sensors.
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View Subscription PlansResearch Process
Market Research Future analysis is based on interviews with industry experts who offer insight into the market structure, market segmentation, technology assessment, competitive landscape (CL), market penetration, as well as the emerging trends. Besides primary interviews (~80%) and secondary research (~20%), their analysis is based on years of professional expertise in their respective industries. Our analysts also predict where the market will be headed in the next five to 10 years, by analyzing historical trends and the current market position. Furthermore, the varying trends in segments and categories in each region are studied and estimated based on primary and secondary research.
Primary Research
Extensive primary research was conducted to gain a deeper insight into the market and the industry performance. For this particular report, we have conducted primary surveys (interviews) with the key level executives (VPs, CEOs, marketing directors, and business development managers, among others) of the major players active in the market. In addition to analyzing the current and historical trends, our analysts predict where the market is headed in the next five to 10 years.
Secondary Research
Secondary research was mainly used to collect and identify information useful for an extensive, technical, market-oriented, and commercial study of the global radar sensors market. It was also used to obtain key information about major players, market classification and segmentation according to industry trends, and developments related to the market and technology. For this study, analysts have gathered information from various credible sources such as annual reports, SEC filings, journals, white papers, corporate presentations, company websites, international organizations of radar manufacturers, and paid databases.
Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of various other dependent sub-markets of the overall global radar sensors market. The key players in the market were identified through secondary research, and their market contributions in different applications across the globe were determined through primary and secondary research. This entire process included the study of the annual and financial reports of the top market players and extensive interviews for key insights with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to arrive at the final quantitative and qualitative data. This data has been consolidated, and detailed inputs and analysis from Market Research Future added before being presented in this report. The following figure shows an illustrative representation of the overall market size estimation process employed for the purpose of this study.
Base Year
2017
Historical Period
2017 – 2017
Forecast Period
2017 – 2023
Primary Interviews
150+
Historical data (2017–2017) and forecast period (2017–2023)
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
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View Subscription PlansThreat of New Entrants
The global radar sensors market is expected to grow at a significant pace during the forecast period. However, the need for high investments and difficulty in forming a client base deter the entry of new vendors in the market to a certain extent. Moreover, the technological know-how required for radar sensors manufacturing is high as present market players are continuously developing products to enhance safety for passengers. The eminent companies in the global radar sensors market such Robert Bosch GmbH, Continental AG, Denso Corporation, and Delphi Automotive LLP have established customer bases and a wide geographic reach, making it difficult for new entrants to achieve economies of scale, which the leading players already possess. These factors are expected to result in a low threat of new entrants in the global radar sensors market during the review period.
Bargaining Power of Suppliers
The capital and technological requirements for manufacturing radar sensors are very high; hence, there are few material and component suppliers in the market. Manufacturers only select raw material and component suppliers that are reliable and offer guaranteed quality and performance. Thus, manufacturers cannot easily switch between suppliers as the switching cost is high and companies tend to enter into long-term contracts with suppliers. Moreover, the risks associated with the quality of components and materials is high with new suppliers. Due to these factors, the bargaining power of suppliers in the global radar sensors market is projected to be moderate.
Bargaining Power of Buyers
Radar sensors are used in aircraft, automobiles, weather monitoring, and defense applications. There are several OEMs and aftermarket players in the market; however, they are dependent on the existing suppliers as the switching costs for buyers and the risks associated with product quality and aftermarket services with new radar sensors manufacturers are extremely high. Therefore, the bargaining power of buyers is expected to be moderate during the forecast period.
Threat of Substitutes
LiDAR sensors are the only alternative for radar sensors at present. LiDAR technology is more effective in long-distance applications than radar. Furthermore, LiDAR systems are more efficient in extreme weather conditions as they are not affected by conditions such as rain or low-lying clouds. However, the accuracy and precision of radar sensors over short distances are high as compared to LiDAR sensors. Hence, the threat of substitutes in the global radar sensors market is projected to be moderate during the assessment period.
Rivalry
There is intense competition among the existing players such as Robert Bosch GmbH, Continental AG, Denso Corporation, and Delphi Automotive LLP in the global radar sensors market. Manufacturers are investing heavily in research and development to create high quality, reliable, advanced, lightweight, and cost-effective radar sensors. Thus, the rivalry is high in the global radar sensors market.
Market estimates by geography (2023)
InsightEurope leads with $8.87B by 2023, while Asia Pacific is projected to grow fastest at a 20.9% CAGR.
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View Subscription Plans| REGION | 2017 | 2017 | 2023 | CAGR | SHARE |
|---|---|---|---|---|---|
| North America | $2.51B | $4.22B | $7.21B | 19.2% | 29% |
| Europe | $3.06B | $5.17B | $8.87B | 19.4% | 35% |
| Asia Pacific | $2.33B | $4.07B | $7.25B | 20.9% | 29% |
| Rest of the World | $697.40M | $1.14B | $1.91B | 18.3% | 8% |
| Total | $8.59B | $14.60B | $25.25B | 19.7% | 100% |
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View Subscription PlansTotal Market Size
$25.25B
| APPLICATION | REVENUE ($B) | GROWTH RATE | MARKET PENETRATION |
|---|---|---|---|
| Imaging Radar | $12.69B | 19.7% | 61% |
| Non-imaging Radar | $12.56B | 19.7% | 88% |
* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.
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Analytical insights on Radar Sensors Market covering market dynamics, competitive landscape, and strategic outlook.
The Radar Sensors Market market is projected to reach $25.25B by 2023, growing at 19.7% CAGR. The Imaging Radar segment holds the largest share.
The global radar sensors market is growing rapidly due to the increased threat of terrorism and consequent counterterrorism activities, rising demand for safety features in automobiles, and an increase in defense expenditure. However, the growth of the market may be hindered by the high cost of radar sensors and the introduction of alternative technologies such as LiDAR systems.
There has been a significant rise in terrorism and terrorism-related fatalities over the past decade. Deaths from terrorism increased by 100.8% while terrorist attacks rose by 69% from 2012 to 2017.
Governments across the world are focusing on measures to protect lives and ensure safety. Cross-border terrorism in countries such as India is a major concern for governments. Military radar systems such as man-portable radar and patrolling vehicles equipped with radar sensors help monitor and reduce cross-border terrorism in remote areas. Furthermore, counterterrorism missions are generally carried out in the dark to maintain stealth. Hence, equipment such as radar systems is vital in enhancing situational awareness during operations, especially at night.
The rising number of road accidents across the world can largely be attributed to human error. Driverless cars mitigate these issues with the help of various technologies such as adaptive cruise control (ACC) and highway automatic emergency braking systems (AEBS).
Radar sensors are primarily used in driverless cars in parking assistance, lane-changing assistance, and bumper-to-bumper collision avoidance systems. The increasing demand for driverless cars is leading to investments by prominent radar sensor manufacturers. For instance, in August 2018, Toyota Motor Corporation announced the investment of USD 500 million in Uber to jointly work on developing self-driving cars. The prominent automotive OEMs are focusing on driverless cars. The long-stated goal of Honda Motor Company is to have cars that can drive themselves on highways by 2020 while Toyota Motor Corporation expects to launch a driverless car in 2020.
Hence, the increasing demand for driverless cars is expected to result in growth opportunities for radar sensor manufacturers during the assessment period.
The initial cost of radar sensors is high, which, in turn, increases the price of the entire system. Furthermore, vehicles equipped with radar systems tend to have higher maintenance costs as they require trained technicians. The limited availability of such resources in developing nations further increases the cost.
The manufacturing of components used in radar sensor systems such as antennas, duplexers, transmitters, receivers, and video amplifiers is also expensive.
In most developing countries, the low per capita disposable income results in limited spending on additional vehicle features.
These factors are expected to hamper the growth of the global radar sensors market during the forecast period.
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Profiles of 108 companies operating in the Radar Sensors Market market, including revenue, employee count, and market positioning where available.
Showing 108 of 108 companies
Taiwan Semiconductor Manufacturing Company Limited
Company Headquarters: Taiwan Founded: 1987 Workforce: ~51,000 Company Working: Taiwan Semiconductor Manufacturing Company Limited (TSMC) is one of the world's leading semiconductor foundries. The company is engaged in developing, selling, packaging, testing, and computer-aided designing of integrated circuits (ICs) and other semiconductor devices and manufacturing masks. The company provides a wide range of integrated semiconductor foundry services, including the most advanced process technologies, leading specialty technologies, the most comprehensive design ecosystem support, excellent manufacturing productivity and quality, advanced mask technologies, 3DFabricTM advanced packaging, and silicon stacking technologies, to meet a growing variety of customer needs. The company deployed 281 diverse process technologies and created 11,617 items for 510 clients in 2020 by providing the broadest range of advanced, specialty, and advanced packaging technology services. The corporation is active in Asia, Europe, North America, and other parts of the world.
Smart Microwave Sensors GmbH
Company Headquarters: Germany Founded: 1997 Workforce: ~100 Company Working: Smart Microwave Sensors GmbH is one of the leading specialists in high-performance radar technology in the global market. The company is a sole proprietor and primarily deals with the development, production, and sales of the radar sensors globally. Smart Microwave Sensors GmbH is a technology leader in radar sensors and delivers high-performance automotive, traffic, airborne, and security radar technology. It offers various products and solutions including off-the-shelf and customized radar sensors and solutions such as data links, multi-sensor data fusion, set-up and alignment accessories, data logging, application software, and development services. The company manages its business distribution from six global regions including Europe, North America, South America, Asia and Australia, and Africa.
Autoliv Inc.
Company Headquarters: Stockholm, Sweden Founded: 1997 Workforce: ~63,000 Company Working: Autoliv Inc., develops, manufactures, and markets automotive safety systems to the automotive industry across the globe. It operates through two business segments which include passive safety and electronics. It offers protective systems, such as airbags, seatbelts, steering wheels and pedestrian protection systems under its passive safety segment. It offers restraint control systems, brake systems, and active safety sensors such as radar, LiDAR, mono, stereo, and night vision cameras, advanced driver-assistance systems, and autonomous driving software. Autoliv is a fortune 500 company having the widest customer base and operations in 27 countries accounting for a market share of 38%. Autoliv Inc., completed the spin-off of its electronics segment as Veoneer, Inc., in July 2018 by creating two companies out of one. By this, it plans to address two different markets with leading product offerings separately. Autoliv ASP Inc, Autoliv India Private Ltd, Autoliv Japan Ltd, and Autoliv IsoDelta SAS are the subsidiaries of Autoliv Inc.
Aptiv
Company Headquarters: Dublin, Ireland Founded: 1994 Workforce: ~ 147,000 Company Working: Aptiv designs and manufactures vehicle components and offers electrical, electronic, and safety technology solutions to the automotive and commercial vehicle markets across the globe. It operates through two business segments: signal and power solutions, advanced safety and user experience. It offers critical components, systems, and advanced software development for passenger safety, security, comfort, and vehicle operation which includes body controls, infotainment and connectivity systems, passive and active safety electronics, autonomous driving software and technologies, displays and systems integration under advanced safety and user experience segment. The signal and power solutions segment offer complete design, manufacture, and assembly of the vehicle’s electrical architecture which includes engineered component products, connectors, wiring assemblies and harnesses, cable management, electrical centers and hybrid high voltage and safety distribution systems. In December 2017 Delphi Automotive Plc announced the spin-off of its powertrain systems segment into a new independent company named as Delphi Technologies Plc, after which Delphi Automotive Plc has been renamed as Aptiv. It has more than 100 manufacturing facilities, 14 major technical centers and operates in 45 countries worldwide.
HELLA GmbH & Co. KGaA
Company Headquarters: Lippstadt, Germany Founded: 1899 Workforce: ~40,300 Company Working: HELLA GmbH & Co. KGaA develops and manufactures lighting and electronic components and systems for the automotive industry. It operates through three business segments which include automotive, aftermarket, and special applications. Under the automotive segment, it develops, produces, and markets lighting and electronic components and systems for vehicle manufacturers and other suppliers. It also offers service parts for lighting, electrical, electronics, and thermal management. In addition, it offers automotive parts and accessories under its aftermarket segment. Special applications segment includes original equipment for special purpose vehicles such as buses, caravans, agricultural and construction machinery, municipal vehicles, and trailers. It operates through 125 locations in 35 countries across the globe. Hella Spa, Enko Automotive GmbH, Behr-Hella Thermocontrol GmbH, and Hella Gutmann Solutions GmbH are some of the subsidiaries of the company.
Continental AG
Company Headquarters: Hanover, Germany Founded: 1871 Workforce: ~190,875 Company Working: Continental AG (Continental) is a leading German company offering customers and its business partners with the extensive variety of intelligent, innovative, and efficient technologies for automotive and industrial applications, as well as for the replacement market. It is involved in making mobility safer, cleaner, comfortable, and more accessible. The Continental Group operates its business into three main sectors, Automotive Technologies, Rubber Technologies, and Contract Manufacturing. The Automotive Technologies Sector comprises of two main areas, Autonomous Mobility & Safety and Vehicle Networking & Information. This sector is involved in design and development of technologies for passive safety, brake, chassis, motion, and motion control systems. Innovative solutions for assisted & automated driving, display & operating technologies, as well as audio & camera solutions for the vehicle interior. The Rubber Technologies Sector operates with two main areas Tires & ContiTech. The Tires group sector stands for innovative solutions in tire technology and provides intelligent products and services related to Motorcycle, Bicycle, Transport and Commercial Specialty Tires. The ContiTech group sector develops and manufactures environmentally friendly systems and intelligent products for the automotive industry, railway engineering, mining, agriculture, and other crucial industries. The Continental team has its employees working in around 527 locations in the areas of production, research and development, and administration, in 58 countries and markets. The top five major customers of the company are the Volkswagen Group, Mercedes-Benz, Stellantis, Ford and the Renault-Nissan-Mitsubishi alliance.
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Radar Sensors Market