The 3D Radar market revenues were estimated at USD 14.7 billion in 2021 and is anticipated to grow at a CAGR of 12.7% from 2022-2032, according to a recently published Fact.MR report. By the end of 2032, the market is expected to reach USD 55 billion.
Hardware held a market share of nearly 51.6% and this trend is likely to be continued with a projected CAGR of 12.6% for this segment, for the next ten years. Market growth for hardware is fueled by both new sales as well as a part of maintenance and repair.
Key Takeaways from the Market Study
● 3D Radar market is expected to reach a valuation of US$ 55 Bn by 2032
● In 2021, North America contributed with prominent revenue and is projected to continue being the market hotspot
● 3D hardware demand accounted for over 51% of the market revenue in 2021
● E/F- Band shows the highest potential for growth, and it is expected to grow at a CAGR of about 13% during 2022- 2032.
● U.S., the key market is expected to hold the prominent market share and grow at a CAGR of 11.4% during 2022 – 2032.