Radar Detector Market Report by Technology, Industry Share and Size Expansion to 2027 | Fortune Business Insights™
The global radardetector market is set to gain impetus from the increasing demand for thesedevices from law enforcement agencies. Besides, several companies are investinghefty amounts of money to develop novel radar detection technology. Thisinformation is given by Fortune Business Insights™ in a newreport, titled, “Radar Detector Market Size, Share & COVID-19Impact Analysis, By Type (Cordless, Corded, Remote Mount), Wavelength (X-Band,K-Band, Ka-Band, Ku-Band, Others, and Regional Forecast, 2020-2027.” Thereport further states that the market size was USD 434.0 Million in2019 and is projected to reach USD 585.5 Million by 2027,exhibiting a CAGR of 4.40% during the forecast period.
COVID-19: Postponement of Contracts Owing to Lockdown will HinderGrowth
The emergence of the COVID-19 pandemic has reduced themanufacturing of radar detectors by various original equipment manufacturers(OEMs). The prolonged lockdown measure to limit transmission of coronavirus haspostponed multiple contracts. The pandemic has further resulted in supply chaindisruptions. We are providing in-depth research reports to help you pave theway towards success amid this grave scenario.
List of the Leading Companies Profiled in the Global RadarDetector Market are:
- ATTOWAVE CO., LTD. (South Korea)
- Axis Communications AB (Sweden)
- Cedar Electronics (The U.S.)
- GENEVO (Czech Republic)
- K40 Electronics (The U.S)
- Radenso Radar (The U.S.)
- Rocky Mountain Radar (The U.S.)
- Shenzhen Camedio Technology Co., Ltd. (China)
- Uniden America Corporation (The U.S.)
- Whistler Group (The U.S.)
Drivers & Restraints
Increasing Cases of Road Accidents to Accelerate Growth
Radar detectors are being increasingly used by vehicle owners tocheck whether their speed is being tracked by law enforcement or police forceswith the help of radar guns. Nowadays, the rising prevalence of road accidentsacross the globe is compelling law enforcement agencies to issue tickets if theperson fails to follow the given speed limits. This factor is set to surge thedemand for these detectors as drivers are using them to reduce the speed oftheir vehicles to avoid such consequences. However, some countries, such asFlorida have banned the usage of radar detectors in commercial vehicles. It mayobstruct the radar detector market growth in the near future.
Segment
Corded Segment to Grow Rapidly Stoked by its Ability to DeliverBetter Range
Based on type, the corded segment held the largest radar detectormarket share in 2019 fueled by its ability to deliver a better range, ascompared to the other types. The cordless segment, on the other hand, isexpected to show considerable growth backed by its easy portability.
What Does This Report Contain?
- Elaborate details about the segments in the market.
- Historical, estimated, and current sizes of the market.
- Profiles of reputed companies and their crucial strategies.
- Extensive analysis of the growth drivers, hindrances, and opportunities.
Regional Analysis
Presence of Prominent Companies to Spur Demand in North America
Geographically, North America generated USD 158.2 million in termsof revenue in 2019. It is set to dominate throughout the forthcoming yearsbecause of the presence of several manufacturers, such as Cedar Electronics,Uniden America Corporation, and Whistler Group in the region. In Europe, theincreasing concerns of road accidents would aid growth. Lastly, Asia Pacific isset to exhibit significant growth on account of the presence of reputedcompanies, namely, Shenzhen Camedio Technology and Attowave Co., Ltd. in theregion.
Competitive Landscape
Key Companies Aim to Strengthen Their Positions by IntroducingNovel Technologies
The market houses numerous firms that are striving to compete withtheir rivals by introducing new products infused with driver awarenesstechnology, AI-assisted false alert filtering, and laser technology. Some ofthe others are expanding their existing portfolios to cater to the high demand.
Below are the two latest industry developments:
- March 2020: Valentine One recently introduced its new radar detector called V1 Gen2. It is equipped with built-in Bluetooth and provides a longer range. It is capable of detecting weaker signals and trapping the local oscillator output.
- June 2019: Cobra Electronics unveiled its brand new intelligent driver information systems named Cobra Elite Series: Road Scout and DualPro 360°. It is a 2-in-1 solution that would help drivers to receive real-time data in a single unit.
Browse Detailed Summary of Research Report :
https://www.fortunebusinessinsights.com/radar-detector-market-103741
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