The global radar detector market is set to gain impetus from the increasing demand for these devices from law enforcement agencies. Besides, several companies are investing hefty amounts of money to develop novel radar detection technology. This information is given by Fortune Business Insights™ in a new report, titled, “Radar Detector Market Size, Share & Industry Analysis, By Type (Cordless, Corded, Remote Mount), Wavelength (X-Band, K-Band, Ka-Band, Ku-Band, Others, and Regional Forecast, 2020-2027.”
The report further states that the radar detector market size was USD 434.0 million in 2019 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 Hinder Growth
The emergence of the COVID-19 pandemic has reduced the manufacturing of radar detectors by various original equipment manufacturers (OEMs). The prolonged lockdown measure to limit transmission of coronavirus has postponed multiple contracts. The pandemic has further resulted in supply chain disruptions. We are providing in-depth research reports to help you pave the way towards success amid this grave scenario.
A list of all the renowned radar detector manufacturers operating in the global market:
- 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 Cameo Technology Co., Ltd. (China)
- Uniden America Corporation (The U.S.)
- Whistler Group (The U.S.)
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.
Drivers & Restraints-
Increasing Cases of Road Accidents to Accelerate Growth
Radar detectors are being increasingly used by vehicle owners to check whether their speed is being tracked by law enforcement or police forces with the help of radar guns. Nowadays, the rising prevalence of road accidents across the globe is compelling law enforcement agencies to issue tickets if the person fails to follow the given speed limits. This factor is set to surge the demand for radar detectors as drivers are using them to reduce the speed of their vehicles to avoid such consequences. However, some of the countries, such as Florida have banned the usage of radar detectors in commercial vehicles. It may obstruct the radar detector market growth in the near future.
Segment-
Corded Segment to Grow Rapidly Stoked by its Ability to Deliver Better Range
Based on type, the corded segment held the largest radar detector market share in 2019 fueled by its ability to deliver a better range, as compared to the other types. The cordless segment, on the other hand, is expected to show considerable growth backed by its easy portability.
Regional Analysis-
Presence of Prominent Companies to Spur Demand in North America
Geographically, North America generated USD 158.2 million in terms of revenue in 2019. It is set to dominate throughout the forthcoming years because of the presence of several radar detector manufacturers, such as Cedar Electronics, Uniden America Corporation, and Whistler Group in the region. In Europe, the increasing concerns of road accidents would aid growth. Lastly, Asia Pacific is set to exhibit significant growth on account of the presence of reputed companies, namely, Shenzhen Camedio Technology and Attowave Co., Ltd. in the region.
Competitive Landscape-
Key Companies Aim to Strengthen Their Positions by Introducing Novel Technologies
The market for radar detectors houses numerous firms that are striving to compete with their rivals by introducing new products infused with driver awareness technology, AI-assisted false alert filtering, and laser technology. Some of the 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.
Source : https://www.fortunebusinessinsights.com/radar-detector-market-103741
