The global radar sensor market is poised to grow rapidly during the next five years.
The recent study on the global radar sensor market covers in-depth analysis of the market on the basis of radar type, application, and geography. The report also covers the country level analysis within the regions as well. Additionally, the report covers the key trends in the market along with drivers and restraint during the forecast period 2018-2023. According to the report titled “Global Radar Sensor Market – Forecast from 2018 to 2023”, the market is estimated to grow exponentially during the forecast period. The report has segmented the global radar sensor market by radar type (continuous wave radar – modulated, unmodulated; pulse radar – moving target indicator radar, pulse Doppler radar), application (military, air traffic control, remote sensing, ground traffic control, space) and geography such as North America (United States, Canada, Mexico, others), South America (Brazil, Argentina, others), Europe (United Kingdom, Germany, France, Italy, others), Middle East and Africa (Saudi Arabia, United Arab Emirates, Israel, others), and Asia Pacific (Japan, China, India, Australia, others). The rising population is projected to continue to make marginal additions in demand for petroleum products. Furthermore, the investment in the development of bulk liquid storage facilities has been increasing globally, which in turn, is estimated to increase the demand for radar transmitter based on radar sensors for monitoring the liquid level. Simultaneously, the growing investment in the process of manufacturing activities globally is further driving the demand for radar sensors. Moreover, the growing number of vehicles that are equipped with ADAS system is further supplementing the growth of the market.
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North America is estimated to hold a significant share in the market.
The market is North America is estimated to hold a significant share on account of the presence of key players in the regions along with the focus on reducing emissions by improving overall efficiency. Moreover, the growing investment in automation in the region is further projected to drive the demand for radar sensors during the forecast period.
Some of the major players discussed in the reports are NXP Semiconductors, Sick AG, ZF Group, and Smart Microwave Sensors GmbH, among others.
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