Radar Sensor Market Size

Radar Sensor Market Size

Radar Sensor Market size was worth more than USD 13 billion in 2022 and is expected record over 15% CAGR through 2032, on account of rising integration of autonomous technology in automotive sector. For instance, in June 2032, the Indian AI startup Minus Zero unveiled the nation’s first completely autonomous vehicle, zPOD, which is also a fully electric prototype with camera-sensor suite.

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As the popularity of autonomous vehicles increases, there will be high demand for sophisticated radar sensing technologies that can accurately detect objects and obstacles on the road ahead. These radar sensors are crucial for enabling advanced driver assistance technologies such as adaptive cruise control, forward collision warning, and night vision systems, enhancing overall vehicle safety and driving experience. With continuous advancements in electronic components to support processing, sensing, and control functions, the radar sensor industry is poised for significant expansion in the coming years.
 

The product application in safety-critical domains like automotive collision avoidance systems and autonomous vehicles acts as major restrain for the industry. Stringent safety and regulatory standards govern the deployment of these applications to safeguard public safety. If radar sensors fail to meet these rigorous standards, it can result in legal barriers, leading to delays in product development, certification, and market entry for companies operating in this sector.