Radar Sensor Market Size, Share, Growth Analysis, By Band(L, S, C, & X Bands), By Range(Short-Range Radar, Mid-Range Radar, and Long-Range Radar), By Type(Imaging Radar, CW Radar, Pulse Rada, Non-imaging Radar), By Technology(Time Domain Reflectometry (TDR), Ultra-Wideband (UWB), RF MEMS-based radar sensors, and Millimeter wave), By Component(Antenna, Duplexer, Transmitter, Receiver), By Region - Industry Forecast 2024-2031

Radar Sensor Market size was valued at USD 10.94 billion in 2019 and is poised to grow from USD 12.37 billion in 2023 to USD 33.14 billion by 2031, growing at a CAGR of 13.1% in the forecast period (2024-2031).

Radar sensors can detect motion, arrival distance and range, speed, and direction of movement. Their applications are becoming more diverse, and the commercialization in the sector is accelerating due to advancements in digital and RF/microwave technologies. There are many radar applications available today, ranging from traditional defence and surveillance to automotive radar for driver assistance to biomedical radar for imaging, monitoring, and treatment. The competitive environment necessitates rapid cycles of design, system integration, prototyping, and testing for all of these applications. Furthermore, the use of corner radar for 360-degree surveillance of the vehicle, aided by 24 GHz short- and mid-range radars, is gaining traction for high-resolution tracking. With high channel numbers for high-resolution imaging radar, this improves target separation or object recognition.

The increased focus on safety and security requirements in automotive applications, as well as rising demand for IoT and smart devices in developing countries, are major factors driving market growth. Furthermore, rising government initiatives to mandate the integration of safety systems in vehicles to avoid accidents will increase the value of the Global Radar Sensor Market.

US Radar Sensor Market is poised to grow at a sustainable CAGR for the next forecast year.