Market Research Report
|Published by||Global Industry Analysts, Inc.||Product code||957162|
|Published||Content info||275 Pages
Delivery time: 1-2 business days
|Published: April 1, 2021||Content info: 275 Pages||
Global Radar Sensor Market to Reach $31.9 Billion by 2027
Amid the COVID-19 crisis, the global market for Radar Sensor estimated at US$9.8 Billion in the year 2020, is projected to reach a revised size of US$31.9 Billion by 2027, growing at aCAGR of 18.3% over the period 2020-2027. Imaging Radar, one of the segments analyzed in the report, is projected to record 19.2% CAGR and reach US$21.2 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Non-Imaging Radar segment is readjusted to a revised 16.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $2.8 Billion, While China is Forecast to Grow at 23.8% CAGR
The Radar Sensor market in the U.S. is estimated at US$2.8 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$6.6 Billion by the year 2027 trailing a CAGR of 23.8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 13.4% and 16.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 14.6% CAGR.
Select Competitors (Total 41 Featured) -