The global radar detector market size is expected to gain momentum by reaching USD 463.7 million by 2028 while exhibiting a CAGR of 4.18% between 2021 to 2028. In its report titled, “Radar Detector Market Size, Share & COVID-19 Impact Analysis, By Type (Corded, Cordless, Remote Mount), Wavelength (X-Band, Ka-Band, K-Band, Ku-Band, Others, and Regional Forecast, 2021-2028,” Fortune Business Insights mentions that the market stood at USD 343.1 million in 2020.
A radar detector is used to detect radar waves, which is used to measure a vehicle’s speed. The device is equipped with a computer and has more than one radio frequency receiver. The receivers help in catching specific frequencies to identify and detect speeding cars used by police.
The COVID-19 pandemic crippled the global economy, and this market was also negatively affected. As the spread of coronavirus reduced the production of detector devices from OEMs. Moreover, the demand from law enforcement agencies, production halt, and disrupted supply chain hampered the demand.
At Fortune Business Insights, we are analyzing the market thoroughly to provide a comprehensive research report that will help you make effective decisions and cope up with the crisis.
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Fortune Business Insights profiles some of the prominent companies operating in the radar detector market. They are as follows:
- Axis Communications AB (Sweden)
- Beltronics (U.S.)
- Cedar Electronics ( U.S.)
- GENEVO s.r.o. (Czech Republic)
- K40 Electronics (U.S.)
- Radenso ( U.S.)
- Rocky Mountain Radar (U.S.)
- Uniden America Corporation ( U.S.)
- Valentine Research, Inc. (U.S.)
- Whistler Group (U.S.)
What does the Report Provide?
The report provides a detailed analysis of several factors, such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaborate to contribute to the market growth.
Increasing Need to Avoid Road Accidents and Enhance Safety Will Propel Growth
In recent times, road accidents have become prevalent due to the increasing demand for high-speed vehicles. Thus, the police and law enforcement agencies use these radar sensors to limit a vehicle’s speed. Additionally, the vehicle owners also use these radar detectors to get information related to police radar guns, which ultimately helps in reducing accidents. For instance, a report by the World Health Organization (WHO) reports, around 1.3 million people die each year due to road accidents. The report mentioned that high-speed driving is one of the main reasons for road traffic crashes. This is expected to drive the radar detector market growth in upcoming years.
North America to Dominate Backed by Presence of Prominent Players
North America is expected to remain at the forefront and hold the largest position in the market during the forecast period. This is attributable to the increasing demand for these due to rising road accidents. Additionally, the law enforcement agencies of North American agencies use three radar frequencies, i.e. K-band, which operates between 24.05 and 24.25 GHz, X-band operates between 10.5 and 10.55 GHz, and Ka-band operates between 33.4 and 36 GHz. Furthermore, the presence of key players such as Cedar Electronics, Whistler Group, Uniden America Corporation is fueling the regional market for these detectors. The region stood at USD 125.1 million in 2020.
Europe is expected to showcase a significant radar detector market share in upcoming years, owing to the increasing road accidents in the region.
By type, the market is divided into corded, cordless, and remote mount.
Based on type, the corded segment dominated the market in 2020. This dominance is attributed to an easy power supply and property to never run out of batteries. By wavelength, the market is divided into X-Band, Ka-Band, K-Band, Ku-Band, and others.
Lastly, in terms of geography, the market is divided into North America, Europe, Asia Pacific, and the rest of the world.
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Key Players to Focus on New Launches & Acquisitions to Strengthen Market Growth
The market is consolidated by major companies striving to maintain their position by focusing on new launches, collaborations & partnerships, and acquisitions. Such strategies taken up by key players are expected to strengthen its market prospects.
Key Industry Development:
- April 2021 – Continental launched the sixth generation of long-range radar and surround radar. These radar sensors have hardware and software platform that helps in reducing complexity and costs.
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