The basic technology used, is the Doppler Effect.
Basically it measures the change in the frequency of the wave for any object moving relative to the source.
Sometimes during the US Open, you can see some person caryying a small antenna like instrument and wearing a big earphone (especially when the player is serving, you can see him at the far corner).
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During Wimbledon, two specially designed radar sensors are positioned behind the baseline at either end of the centre court, as well as the number one, two, three, 13 and 18 courts. Once a player strikes the ball, the radar guns detect its speed. The information is flashed up on the court-side screens. Details are also automatically recorded on IBM's central tournament database.
What is being measured is the speed in which the tennis ball is moving. A radar gun, similar to the ones police use for giving out speeding tickets, is used to measure a tennis serve