Global Radar Sensors for Smart City Applications Market is projected to grow at a CAGR of 11.70% during the forecast period: MRFR

Market Research Future (MRFR) has published a half cooked research report on the “global Radar Sensors for Smart City Applications Market” that contains the information from 2018 to 2032.

Radar Sensors for Smart City Applications Market Highlights

The Radar Sensors for Smart City Applications Market is predicted to reach by 2032, registering a 11.70% CAGR during the forecast period, 2024–2032. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the market in the next few years. The global Radar Sensors for Smart City Applications market is expected to witness substantial growth during the forecast period, primarily due to the rising smart city infrastructure.

The idea of a "smart city" includes the use of numerous sensors including Radar Sensors to collect data and digitize it. One of the most important sources of statistics is traffic and the number of pedestrians. This information can be used by officials for immediate road control or broader city planning. Intelligent Transportation System, or ITS, is the name given to the systems that collect this data and manage the city lights. Street cameras (direct measurement) and in-car sensors, as well as smartphones, are the most widely used sources of traffic information (indirect measurement). Privacy concerns arise due to the widespread use of cameras because they can be utilized as a surveillance system. Particularly when it comes to traffic data, indirect measures are inaccurate and significantly increase data latency (up to a few minutes). Radars can put these worries to rest. Despite excellent data acquisition, these sensors cannot recognize a person or a vehicle. For intelligent transportation systems, traffic lights, and intelligent streetlights, radars can provide trustworthy data.

Segmental Analysis

The scope of the global Radar Sensors for Smart City Applications market has been segmented based on type, frequency, and application.

The global Radar Sensors for Smart City Applications market segmentation, based on Type, includes Ground Radar Sensors and Overhead Radar Sensors. The Ground Radar Sensors for Smart City Applications segment held the majority share in 2021 contribution to around XX% in respect to the global Radar Sensors for Smart City Applications market revenue.

The global Radar Sensors for Smart City Applications market segmentation, based on frequency, includes 24 GHz, 10.5 GHz, and Others. 24GHz is expected to grow at a significant CAGR of XX%.

The global Radar Sensors for Smart City Applications market data has been bifurcated by Application into Traffic Monitoring and Pedestrian (Crowd) Monitoring. Traffic Monitoring holds a largest market share during 2021.  

Regional Analysis

Geographically, the global Radar Sensors for Smart City Applications market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

North America Radar Sensors for Smart City Applications market accounted for USD XX billion in 2021 and is expected to exhibit an XX% CAGR during the study period. This is attributed to the growing smart cities in North America. The US and Canada are at the forefront of the use of smart cities in North America. These nations' economies are stable and well-established, allowing them to make significant investments in R&D projects and contribute to the creation of new technology.

Europe Radar Sensors for Smart City Applications market accounts for the second-largest market share. The increasing urbanization, the need for efficient management of resource utilization, public safety concerns, and increasing demand for an environment with efficient energy utilization are the major driving factors for the smart cities' market growth thereby driving the demand for Radar sensors in the European Region. The Asia-Pacific Radar Sensors for Smart City Applications Market is expected to grow at a CAGR of XX% from 2022 to 2030. In many technological fields, the Asia Pacific region continues to grow quickly.

Key Players

The key players in the global Radar Sensors for Smart City Applications market are  Yunex Traffic, Kymati GmbH, Icoms Detections S.A., AGD Systems, Navtech Radar, Image Sensing Systems Inc. (ISS), Invisens, Staal Technologies BV, Smart City NZ, smart microwave sensors GmbH, Innovative Radar Sensor Technology, SCAE spa, and Sensmax.