Global Radar Sensors Market 2019-2023 | 18% CAGR Projection over the Next Five Years | Technavio

AP
By Associated Press, 16 April 2019

LONDON--(BUSINESS WIRE)--Apr 15, 2019--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.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190415005299/en/

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.

Looking for more information on this market?Request for a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

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

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  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at [email protected].

View source version on businesswire.com:https://www.businesswire.com/news/home/20190415005299/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY HARDWARE TRANSPORT AIR SECURITY SEMICONDUCTOR RAIL MOBILE/WIRELESS MANUFACTURING AEROSPACE AUTOMOTIVE MANUFACTURING AUTOMOTIVE DEFENSE OTHER AUTOMOTIVE OTHER DEFENSE

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 04/15/2019 10:40 AM/DISC: 04/15/2019 10:40 AM

http://www.businesswire.com/news/home/20190415005299/en

AP
By Associated Press, 16 April 2019

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