The MarketsandMarkets research report "Radar Sensor Market by Type, Technology, Component, Band, Range, Application, Vertical, and Geography - Global Forecast to 2023", the radar-sensor market is expected to reach $20.64-Billion by 2023, at a CAGR of 19.51% between 2017 and 2023. Major factors driving the growth of the radar sensor market include increasing territorial conflicts and geopolitical instabilities in Asia Pacific, the Middle East, and the Americas, and the rising demand for radar systems worldwide, as militaries seek to replace legacy systems. The market is further driven by increasing focus on safety, comfort, and assistance features in vehicles.
- The radar sensor market for automotive applications is expected to grow rapidly during the forecast period
- The non-imaging radar sensor market to have potential growth by 2023
- Radar sensor market in APAC expected to grow at the highest rate during the forecast period
- Major companies involved in the development of radar sensor such as Robert Bosch GmbH (Germany), Continental AG (Germany), Denso Corporation (Japan), Delphi Automotive LLP (UK), HELLA KGaA Hueck & Co (Germany), Autoliv Inc. (Sweden), Infineon Technologies AG (Germany), Lockheed Martin Corporation (US), NXP Semiconductors N.V. (The Netherlands), and Smart Microwave Sensors GmbH (Germany).
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