HOME › Research Insight › The Players in the Radar Sensor Market have adopted new Product Developments and Partnerships, Agreements, Contracts, & Collaborations as the Key Strategies for maintaining their Position in the Market
The Players in the Radar Sensor Market have adopted new Product Developments and Partnerships, Agreements, Contracts, & Collaborations as the Key Strategies for maintaining their Position in the Market
The radar sensor market is expected to grow from USD 19.29 Billion in 2015 to USD 30.67 Billion by 2022, at a CAGR of 6.94% between 2016 and 2022. The growth of this market is driven by the factors such as increasing territorial conflicts and geopolitical instabilities in the regions such as Asia-Pacific, the Middle East, and the Americas and rising demand for radar systems worldwide since militaries seek to replace their legacy systems. The market is further driven by the increasing focus on the safety, comfort, and assistance features in vehicles.
The players in the radar sensor market have adopted new product developments and partnerships, agreements, contracts, & collaborations as the key strategies for maintaining their position in the market. Robert Bosch GmbH (Germany), Continental AG (Germany), ZF Friedrichshafen AG (Germany), Denso Corporation (Japan), Delphi Automotive PLC (U.K.), HELLA KGaA Hueck & Co. (Germany), Autoliv Inc. (Sweden), Infineon Technologies AG (Germany), Airbus Group (Netherlands), Lockheed Martin Corporation (U.S.), Raytheon Company (U.S.), NXP Semiconductors N.V. (Netherlands), and Smart Microwave Sensors GmbH (Germany) are some of the leading players that have adopted these strategies to develop their businesses. The key players in this market are Robert Bosch GmbH (Germany) and Continental AG (Germany).
Robert Bosch GmbH offers a broad portfolio of automotive, industrial, energy & building technology products and consumer goods. The company has a strong market position in almost all the industries it operates and well-balanced revenue generation from all its business segments. The company majorly operates in all the geographic regions and earns a large share of its revenue from the European region (53%) as of 2015. In terms of key business strategies of Robert Bosch GmbH in the radar sensor market, the strategy of new product developments plays a major role. For instance, in 2014, the company developed front and rear versions of the mid-range radar (MRR) sensors. In 2013, Bosch developed a new long-range radar sensor (LRR) which uses the 77-gigahertz frequency bandwidth.
Continental AG is one of the leading global automotive industry suppliers. The company's strong focus on enhancing R&D capabilities to serve the local market enhances its market position and competitiveness. The company majorly operates in all the geographic regions and earns a large share of its revenue from Europe with 28% and 21% from Germany as of 2015. In terms of key business strategies of Continental AG in the radar sensor market, the strategy of new product developments plays a major role. For instance, in 2014, Continental launched the full pace production of short range radar sensors for advanced driver-assistance systems at its plant in Seguin, Texas. With regard to wide product offerings in all the segments in which it operates, the company was awarded by some prestigious awards. Such as, in 2013, Continental was awarded with Automotive News PACE (Premier Automotive Suppliers’ Contribution to Excellence) Award for its tire pressure monitoring system (TPMS) with patented LocSync software. In 2011, the company was awarded with the sustainability prize by the Wirtschaftsclub Rhein-Main in recognition of all the contributions made and prizes received by Continental over the last 30 years.
Radar Sensor Market by Type (Imaging and Non-Imaging), Technology, Component, Band (HF, VHF, and UHF; L, S, C, and X; Ku, K, Ka, V, and W), Range (Short-Range, Mid-Range, Long-Range), Application, Vertical, and Geography - Global Forecast to 2022
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