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The latest report by IMARC Group, titled “Radar Sensors Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global radar sensors market reached US$ 13.1 Billion in 2021. A radio detection and ranging system (RADAR) sensor is an electronic device that transforms microwave echo signals into electrical signals. It uses wireless sensing technology to sense electromagnetic emissions from objects, such as aircraft, marine vessels, two-wheelers, and automobiles. It is also integrated with global positioning systems (GPS) to store information regarding the location, size, motion trajectory, and characteristics of the objects. Besides this, radar sensors are widely employed in various automobiles for radar-based driver assistance systems such as collision warning and adaptive cruise control.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Radar Sensors Market Trends:
The market is primarily driven by the expanding automotive industry across the globe. Nowadays, radar sensors are embedded in autonomous vehicles to enhance passenger safety. They detect stationary and moving objects in the path and operate automatic emergency braking and collision avoidance systems in heavy commercial automobiles. Besides this, various technological advancements, such as the development of corner radar sensors that aid in 360-degree short-range surveillance and high-resolution tracking, are also contributing to the market growth. In addition, with the growing territorial conflicts and cross-border disputes, radar sensors are widely employed in target surveillance, missile guidance, interception, terrain tracking, and navigation systems for various military and defense applications. This, coupled with the rising product adoption in sports tracking solutions, is creating a positive market outlook across the globe. Looking forward, IMARC Group expects the market value to reach US$ 36.2 Billion by 2027, exhibiting a CAGR of 18.51% during the forecast period (2022-2027).
Market Summary:
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