Security Radar Device Market
Security Radar Device Market (Application: Residential, Commercial, Industrial, and Defense) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031
- Electronics & Semiconductors
- 117 Pages
Changes in Global Sales Order Influencing Growth amid Coronavirus Pandemic
The coronavirus crisis has altered the way the global society functions. Since an increasing number of people are spending their time at home, people are becoming conscious about the safety of family members. This is anticipated to boost the sales of security radar devices in home settings. Companies in the security radar devices market are leveraging this opportunity to increase the availability of systems even in commercial spaces to restrict the unauthorized entry of individuals.
Due to political and trade conflicts among countries during the pandemic, companies in the security radar devices market are boosting their R&D muscle to develop systems that reduce the vulnerability of defense organizations. As such, an overall slowdown in revenue flow of the global economy is expected to affect the sales of devices.
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Line-of-Sight Blockage Issue Associated with Surveillance Radar Technology
The surveillance radar technology is growing prominent at airports. These solutions help to provide detection beyond a perimeter. However, one disadvantage to the radar technology is the need for the line-of-sight of an object. Similar to a camera, the radar technology can have difficulty in detecting and tracking objects through buildings, largely uneven terrain and dense foliage. Hence, companies are creating awareness about the use of the radar technology in environments with lots of open spaces. In order to offset for line-of-sight blockages, radars can be positioned at adequate heights and at specific angles to provide coverage.
The security radar devices market is undergoing a significant change with technology that is capable of detecting threats prior to the threat or intruder reaching the perimeter of the airport.
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Preference for Weather-resistant, Maintenance-free Radar Devices for Security Applications
The security radar devices market is expected to reach the valuation of US$ 935.6 Mn by 2031. InnoSenT - one of the leading radar technology companies is offering its sensor solutions for the security of buildings, installations, outdoor, and danger areas. Manufacturers are increasing the availability of devices that are weather-resistant, insensitive to light, and maintenance-free.
Companies in the security radar devices market are designing systems that can easily combine with other sensors. They are innovating in devices that provide a comprehensive information pertaining to the classification of objects and precise positioning of objects.
Companies Designing Devices Ideal for Monitoring Large, Exposed Spaces
The security radar devices market is slated to register a modest CAGR of 5.4% during the forecast period. Hangzhou Hikvision Digital Technology Co., Ltd. - a Chinese state-owned manufacturer and supplier of video surveillance equipment for civilian and military purposes, is providing its security radar devices that accurately pinpoint the location and motion trail of up to 32 potential intruders per radar.
Manufacturers in the security radar devices market are developing systems that are ideal for monitoring large, exposed spaces with harsh weather and in cases where the perimeter environment is too complex for the deployment of only video surveillance cameras. Wide detection angle and ultra-accurate intruder detection features are preferred in security radar devices.
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eCommerce and online sales have been rapidly expanding during the COVID-19 pandemic. Cutting-edge security radar devices are capable of pinpointing the exact position of potential intruders with the help of the digital beam forming technology and the intelligent analysis algorithm. However, the radar technology does not provide visual verification of alarms. Hence, companies in the security radar devices market should educate users at airports and other sectors to integrate radar with video cameras to create a more complete surveillance capability. With the help of this technique, the radar detects targets at long ranges and then automatically slews a camera to the target for visual verification of what the radar has detected.
Security Radar Device Market: Overview
- According to Transparency Market Research’s latest research report on the global security radar device market for the historical period of 2017–2019 and the forecast period of 2021–2031, usage of security radar device in residential, commercial, industrial, and defense is expected to boost the global security radar device market during the forecast period
- In terms of revenue, the global security radar device market is expected to exceed the value of US$ 935.6 Mn by 2031, expanding at a CAGR of 5.4% during the forecast period
Rapid Technological Advancements in Security Radar Devices: Key Driver of Security Radar Device Market
- Technological advancements in security radar devices has been increasing for the past few years. This is due to the demand for innovative solutions for the field of security technology, increasing crime rates, and stringent legal requirements. Hence, manufacturers are investing in research & development to cater to consumer needs and gain competitive advantage.
- Presently, manufacturers are emphasizing on extensive research & development for the launch of smart security radar, which utilizes advanced radar technology to offer an extensive area coverage while providing position and speed of an object. These are employed in industrial areas for various applications. These technological developments for security radar are fueling the market.
- Thus, demand for security radar devices is estimated to increase over the next few years, and major players in the security radar device market are utilizing the economies of scale to cater to the rising demand
- Security radars are employed to detect unwanted objects in target areas. However, devices have low efficiency in highly clustered areas due to eco signals. These eco signals reduce the accuracy of radar to catch radio frequencies. Thus, the security radar fails to detect the movement and interface of unwanted objects in these areas. Moreover, increasing cyber warfare across regions is estimated to hinder the functionality of radar security. Additionally, higher initial investment associated with development and manufacturing of security radar devices is expected to hamper the market.
Adoption of Security Radar Devices Over Smart Home Security Solutions
- Security radar devices are multifunctional devices that have applications such as border control and critical infrastructure protection. These devices are compact, lightweight, and can be flexibly mounted. Therefore, they are being increasingly employed in monitoring applications across industrial infrastructures such as manufacturing facilities and warehouses.
- Concerns about security have been increasing across the globe; hence, industrial players emphasizing on the enhancement of their perimeter security systems. This factor is augmenting the opportunities for security radar device manufacturers.
- Moreover, integration of conventional video surveillance systems with security radar to enhance accuracy and reduce false alarm rate have increased in the last couple of years, thereby driving the security radar device market
Security Radar Device Market: Competition Landscape
- Detailed profiles of providers of security radar devices have been given in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global Security radar device market are
- Axis Communications AB
- Hangzhou Hikvision Digital Technology Co. Ltd.
- Honeywell International Inc.
- Kelvin Hughes limited
- Dahua Technology Co., Ltd
- Avigilon Corporation
- Sensurity Ltd.
Security Radar Device Market: Key Developments
- Key providers of security radar devices such as Hangzhou Hikvision Digital Technology Co. Ltd., Dahua Technology Co., Ltd, and Honeywell International Inc. are focused on the design of cost-effective security radar devices to attract more customers. Other key developments in the global security radar device market have been highlighted below:
- In 2020, Axis Communications launched smart security radar that uses advanced radar technology to offer extensive area coverage while providing position and speed of the object
- In September 2019, Kelvin Hughes Limited unveiled SharpEye Mk 5 Radar Series at Defense & Security Equipment International. SharpEye radars set the international standard in solid-state radar sensor technology. It is utilized by commercial customers and defense agencies to detect the smallest targets on land and at sea at greater ranges.
- In March 2018, Hikvision USA Inc., announced a partnership with integrated cloud-based video surveillance provider VIAAS to offer fully integrated services to each active security cameras
- In June 2018, Avigilon Corporation introduced Avigilon Presence Detector (APD) radar security device to detect the presence of a person at distances up to 9 meters (30 feet), even if the object is hidden or obstructed by objects, such as blankets, cardboard, wood, and drywall, for use in security solutions
- In the global security radar device market report, we have discussed individual strategies, followed by company profiles of providers of security radar devices. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global security radar device market.
Security Radar Device Market – Scope of Report
A new study on the global security radar device market is published by Transparency Market Research (TMR). It presents detailed information on key market dynamics, including drivers, trends, and challenges for the global security radar device market as well as its structure. TMR’s study offers valuable information on the global security radar device market in order to illustrate how the market is expected to expand during the forecast period i.e. 2021–2031.
Key indicators of market growth, which include value chain analysis and compound annual growth rate (CAGR), are elucidated in TMR’s study in a comprehensive manner. This data can help readers interpret the quantitative growth aspects of the global security radar device market.
An extensive analysis of business strategies adopted by leading market players is also featured in TMR’s study on the global security radar device market. This can help readers understand key factors responsible for expansion of the global security radar device market. In this study, readers can also find specific data on avenues for qualitative and quantitative expansion of the global security radar device market. This data would guide market players in making apt decisions in the near future.
Key Questions Answered in TMR’s Study of Security Radar Device Market
- What would be the Y-o-Y growth trend of the global security radar device market between 2020 and 2030?
- What is the influence of changing trends in the application segment on the global security radar device market?
- Would North America continue to be the most dominant regional market for providers of security radar device over the next few years?
- Which factors would hinder the global security radar device market during the forecast period?
- Which are the leading companies operating in the global security radar device market?
A unique research methodology is utilized by TMR to conduct comprehensive research on the global security radar device market and arrive at conclusions on future growth prospects for the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the conclusions drawn.
Secondary research sources referred to by analysts during production of the report on the global security radar device market include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and market white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who have contributed to production of TMR’s study on the global security radar device market as a primary research source.
These primary and secondary sources provided exclusive information during interviews, which served as a validation from leading players operating in the global security radar device market. Access to an extensive internal repository as well as external proprietary databases allowed this report to address specific details and questions about the global security radar device market with accuracy. The study also uses a top-down approach to assess the numbers for each segment and a bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on future prospects for the global security radar device market more reliable and accurate.
Security Radar Device Market – Segmentation
TMR’s study of the global security radar device market segments are based on application and region. Changing market trends and other crucial market dynamics associated with segments of the global security radar device market have been discussed in detail in TMR’s study.