The radar sensor market is likely to witness significant revenue growth. Rising demand for submillimeter wave radar sensors for identifying and navigating other vehicles will drive market growth. According to forecasts from Market Research Future (MRFR), the global radar sensor market will increase from US$9.3 billion in 2022 to US$31.45 billion in 2032, with a compound annual growth rate of 14.50% during the entire evaluation period (2023-2032) .

The rapid digitization of various industries has catalyzed the demand for radar sensors. In addition, the increasingly widespread application of IoT devices and smart technologies has also promoted the market demand for radar sensors. Smart security systems and automatic doors use motion detection technology provided by radar sensors to detect any movement. In addition, the increasing application of radar sensors in security and surveillance businesses also supports market demand.