Imaging Radar Market Size, Share, Growth, and Industry Analysis, By Type (Millimeter-Wave Imaging Radar, Laser Imaging Radar), By Application (2D Imaging, 3D Imaging, 4D Imaging) and Regional Insights and Forecast to 2031

Updated On: 29 April 2024

IMAGING RADAR MARKET REPORT OVERVIEW

• 

• to learn more about this report

The global imaging radar market size was USD 995.9 million in 2021, and the market is projected to touch USD 1873.77 million by 2031, exhibiting a CAGR of 6.5% during the forecast period.

Imaging radar uses return waves to create an image. A radar detector is an electronic device that detects the speed and position of a distant object, such as an airplane, ship, vehicle or motorcycle. Radar detects electromagnetic radiation using a super-heterodyne receiver. It then notifies the occupant of the vehicle when transmission is detected.

Nowadays, these sensors have built-in GPS technology that makes it easy to record the locations reported by the sensor when the user reaches their destination.  The market is driven by the rapid growth in sales of automatic vehicles, mainly due to the growing popularity of autonomous vehicles in recent years. The higher safety and security features offered by these vehicles are the main factors driving the demand for Advanced Driver Assistance Systems (ADAS) embedded radar, Lidar and other technologies.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The pandemic has caused disruptions in supply chains, manufacturing and retail, resulting in reduced consumer spending and demand for non-essential items such as wardrobes. Lockdowns and social distancing have also limited shopping opportunities, further affecting sales and distribution channels. As a result, the demand and turnover of the clothing market decreased during the pandemic. While markets may eventually recover as the situation improves, the immediate impact of COVID-19 on global markets has been largely negative.

LATEST TRENDS

"High Resolution to Improve Market and Market Performance Leading Market Expansion"

Using imaging radar system to take high-resolution photos of multiple targets is a major departure from 2D radar. The beams produced by imaging radar systems have a significantly wider field of view (FOV) ranging from 90 to 120 degrees, in contrast to traditional radar which only allows a narrow beam (15 to 30 degrees). This enables a more comprehensive assessment of the environment and promotes the imaging radar market growth.

IMAGING RADAR MARKET SEGMENTATION

• 

• to learn more about this report

• By Type

Based on type the global market can be categorized into Millimeter-Wave Imaging Radar, Laser Imaging Radar. Millimeter wave is a special class of radar technology that uses short wavelength electromagnetic waves. Radar systems emit electromagnetic wave signals which then reflect off targets in their path.

• By Application

Based on application the global market can be categorized into 2D Imaging, 3D Imaging, 4D Imaging. The 4D imaging radar includes three types of ranges such as short, medium and long. Long-range radars are in high demand as long-range radar sensors that enable highly automated driving in combination with other technologies.

DRIVING FACTORS

"Increasing Automotive Industry to Augment the Market Growth"

As the demand for imaging radars for road and highway construction by various governments and automobile manufacturers’ increases, the automobile industry is industry had the largest market share of automotive imaging radar. In addition, increased regulatory emphasis on raising safety standards in all major markets, including North America and Europe, is expected to drive product demand during the forecast period.

"Increasing Use of Imaging Radar in the Defense And Military Industries to Expand the Market"

The increasing use of imaging radar in the defense and military industries is due to the unique features it offers, including good situational awareness, day and night operations, all-round coverage, target acquisition and tracking, ease of use and integration with co-integrated ISR systems. These factors have increased the importance of imaging radar in critical operations, threats and decision-making in the defense and military sectors. In addition, applications such as fire control (missile or weapon), precision control, intelligence, and surveillance, reconnaissance, and space operations are expected to widely adopt ground-based systems. In addition, advances in imaging radar technology have led to better performance, high-resolution images, and lower expenses. The availability of small and affordable imaging radar platforms such as small satellites and unmanned aerial systems (UAS) has facilitated the use of imaging radar in defense and military applications. Technological advances and savings allow imaging radar to be used in defense and military operations.

RESTRAINING FACTOR

"Regulatory Challenges And Disruptions And Compatibility Issues to Hinder Market Growth "

Keeping up with evolving regulatory requirements and standards, especially in the automotive industry, can be a significant challenge. Meeting these safety and emissions standards can increase the cost and complexity of deploying a imaging radar. Imaging radar can be susceptible to interference from other radar systems, such as nearby vehicles, airports, or military installations. Ensuring compatibility and avoiding interference can be technically challenging.

IMAGING RADAR MARKET REGIONAL INSIGHTS

• 

• to learn more about this report

"Europe Dominating the Market due to Increasing Initiatives By Major Players"

Europe accounts for the largest imaging radar market share in the global imaging radar market during the forecast period, owing to increasing initiatives by major German players to develop advanced products and solutions with different functions and advanced developments in the automotive industry. For example, in June 2019, the car manufacturer Continental AG introduced a compact radar system for passenger cars that enables seamless 360-degree monitoring of the vehicle's environment by placing new sensors in all  four corners of the vehicle's body.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

This global imaging radar market report includes information on new recent developments, trade regulations, import and export analysis, production analysis, value chain optimization, market share, impact of domestic and local market players, analyzes opportunities based on new revenue pockets and changes  market regulations, strategic market growth analysis, market size, category market growth, application niches and governance, product approvals, product launches, geographic expansions, technological innovations in the market.

List of Market Players Profiled

• Continental (U.S.)
• ZF Friedrichshafen (Germany)
• Veoneer (Sweden)
• Aptiv (Ireland)
• Vayyar (U.S.)

INDUSTRIAL DEVELOPMENT

March 2022: Uhnder, the industry leader in digital imaging radar technology for automotive and next-generation mobile applications, is set to launch the first mass-produced, fully automotive qualified, lane-changing 4D digital imaging radar next-generation Advanced Driver Assistance Systems (ADAS), autonomous vehicles (AV) and automated mobility applications. Uhnderand's technology offers the industry's first digital radar solution with increased accuracy and the ability to detect moving or stationary objects, large or small, at short and long range in all weather and lighting conditions, avoiding  interference with other radars.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.