Millimeter Wave Radar Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Millimeter Wave Market
The Millimeter Wave market size was valued at USD 567.2 million in 2023, and the market is now projected to grow from USD 572.1 million in 2024 to USD 1401 million by 2032, exhibiting a CAGR of 13.7% during the forecast period of 2024-2032.
Infiltration of millimeter wave innovation within the automotive industry will increment fundamentally due to the fast development of the supporting 5G foundation in vital districts since the widespread. 5G will empower much lower inactivity, progressed speeds, and more noteworthy capacity. With the expanding center on communication between vehicles, people on foot, and indeed street framework, various OEMs are running C-V2X pilot programs with the point of commercial sending from 2022. These variables, in turn, will lead to expanding request for millimeter wave innovation. Subsequently, the prevailed pandemic has quickened the millimeter wave radar market growth.
Within the Internet of Vehicles (IoV) arrange, a tremendous sum of information is produced and sent to the cloud through the sensors introduced within the vehicles. High-speed mmWave joins are basic to empowering this communication for IoV. With the expanding selection of cellular vehicle-to-everything, a few media transmission benchmarks organizations have distributed particular millimeter wave radar recurrence groups for the 5G communication framework.
Millimeter wave radar (MWR) offers steady location execution. It isn't influenced by the surface shape and color of the measured protest and has solid versatility to climatic turbulence. It gives a long location run; the common location extend is 150m-200m, which can meet natural checking prerequisites inside a huge extend in high-speed driving. Furthermore, it incorporates a solid entering capacity, guaranteeing the customary operation of vehicles beneath different climate conditions. Consequently, these variables will drive the development of the market.
Comprehensive Analysis of Millimeter Wave Market
The market for millimeter wave on the bifurcation is fractioned into commercial vehicles and passenger car. The most operative segment holding a larger share happens to be the passenger car. On the analysis of frequency band, the market is sectioned into 77GHz, 24 GHz and others. The larger part of the frequency band is termed as the 24GHz. On the technological analysis, the market is fragmented into RF CMOS, GaAs and Silicon Germanium BiCMOS. The part GaAs is termed to be the larger part of the technology analysis segment.
The continent of North America held a huge millimeter wave radar market share and was esteemed at USD 294.9 million in 2020. A few major players advertising millimeter wave-based items such as Eravant, Keysight Innovations, and L3HARRIS Advances are headquartered in this region. Besides, higher appropriation of millimeter wave innovation in broadcast communications and open transport applications will drive the development of the market in this region.
The market is customarily converged as ordinarily routinely for the most part present day exhibit compared to other markets interior the control electronic courses of activity space. The advance is creating with amplifying mechanical headways, and there are different well-known brands such as: Continential AG (Germany), ELVA-1 (Sweden), Bridegewave Communications (U.S.), Robert Bosch GmbH (Germany), NEC Corporation (Japan), Siklu Communication Ltd (U.S.), Denso Corporation (Japan), Smiths Group Plc. (U.K.), E-Band Communications (U.S.) and many others.
In March 2021, the company Keysight Advances declared an organization with a view to set up a millimeter wave radar laboratory in Suzhou, China, planned to assist advance the improvement of independent driving advances.
Segmentation Table
ATTRIBUTE
DETAILS
Study Period
2017-2028
Base Year
2020
Estimated Year
2021
Forecast Period
2021-2028
Historical Period
2017-2019
Unit
Value (USD Million)
Segmentation
By Vehicle Type
Passenger Car
Commercial Vehicle
By Technology
Silicon Germanium BiCMOS
RF CMOS
GaAs
By Frequency Band
24 GHz
77 GHz & Others
By Geography
North America (By Vehicle Type, By Technology, By Frequency Band)
- U.S.
- Canada
- Mexico
- U.K.
- Germany
- France
- Rest of Europe
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Porter’s Five Forces Analysis
- 4.2. SWOT Analysis
- 4.3. Technological Developments
- 4.4. Key Industry Developments - Mergers, Acquisitions & Partnerships
- 4.5. Impact of COVID-19
- 5. Global Millimeter Wave Radar Market Analysis, Insights and Forecast, 2017-2028
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Vehicle Type
- 5.2.1. Passenger Cars
- 5.2.2. Commercial Vehicles
- 5.3. Market Analysis, Insights and Forecast – By Technology
- 5.3.1. Sillicon Germanium BiCMOS
- 5.3.2. RF CMOS
- 5.3.3. GaAs
- 5.4. Market Analysis, Insights and Forecast – By Frequency Band
- 5.4.1. 24 GHz
- 5.4.2. 77 GHz & Others
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Rest of the World
- 6. North America Millimeter Wave Radar Market Analysis, Insights and Forecast, 2017-2028
- 6.1. Key Findings / Summary
- 6.2. Market Analysis – By Vehicle Type
- 6.2.1. Passenger Cars
- 6.2.2. Commercial Vehicles
- 6.3. Market Analysis – By Technology
- 6.3.1. Sillicon Germanium BiCMOS
- 6.3.2. RF CMOS
- 6.3.3. GaAs
- 6.4. Market Analysis, Insights and Forecast – By Frequency Band
- 6.4.1. 24 GHz
- 6.4.2. 77 GHz & Others
- 6.5. Market Analysis – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
- 6.5.3. Mexico
- 7. Europe Millimeter Wave Radar Market Analysis, Insights and Forecast, 2017-2028
- 7.1. Key Findings / Summary
- 7.2. Market Analysis – By Vehicle Type
- 7.2.1. Passenger Cars
- 7.2.2. Commercial Vehicles
- 7.3. Market Analysis – By Technology
- 7.3.1. Sillicon Germanium BiCMOS
- 7.3.2. RF CMOS
- 7.3.3. GaAs
- 7.4. Market Analysis, Insights and Forecast – By Frequency Band
- 7.4.1. 24 GHz
- 7.4.2. 77 GHz & Others
- 7.5. Market Analysis – By Country
- 7.5.1. U.K.
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Rest of Europe
- 8. Asia Pacific Millimeter Wave Radar Market Analysis, Insights and Forecast, 2017-2028
- 8.1. Key Findings / Summary
- 8.2. Market Analysis – By Vehicle Type
- 8.2.1. Passenger Cars
- 8.2.2. Commercial Vehicles
- 8.3. Market Analysis – By Technology
- 8.3.1. Sillicon Germanium BiCMOS
- 8.3.2. RF CMOS
- 8.3.3. GaAs
- 8.4. Market Analysis, Insights and Forecast – By Frequency Band
- 8.4.1. 24 GHz
- 8.4.2. 77 GHz & Others
- 8.5. Market Analysis – By Country
- 8.5.1. China
- 8.5.2. Japan
- 8.5.3. India
- 8.5.4. South Korea
- 8.5.5. Rest of Asia Pacific
- 9. Rest of the World Millimeter Wave Radar Market Analysis, Insights and Forecast, 2017-2028
- 9.1. Key Findings / Summary
- 9.2. Market Analysis – By Vehicle Type
- 9.2.1. Passenger Cars
- 9.2.2. Commercial Vehicles
- 9.3. Market Analysis – By Technology
- 9.3.1. Sillicon Germanium BiCMOS
- 9.3.2. RF CMOS
- 9.3.3. GaAs
- 9.4. Market Analysis, Insights and Forecast – By Frequency Band
- 9.4.1. 24 GHz
- 9.4.2. 77 GHz & Others
- 10. Competitive Analysis
- 10.1. Key Industry Developments
- 10.2. Global Market Share Analysis (2020)
- 10.3. Competition Dashboard
- 10.4. Comparative Analysis – Major Players
- 10.5. Company Profiles (Overview, Products & services, SWOT analysis, Recent developments, strategies, financials (based on availability))
- 10.5.1. Bridegewave Communications (California, U.S.)
- 10.5.1.1. Overview,
- 10.5.1.2. Products & services,
- 10.5.1.3. SWOT analysis,
- 10.5.1.4. Recent developments,
- 10.5.1.5. strategies,
- 10.5.1.6. financials (based on availability)
- 10.5.2. E-Band Communications (California, U.S.)
- 10.5.2.1. Overview,
- 10.5.2.2. Products & services,
- 10.5.2.3. SWOT analysis,
- 10.5.2.4. Recent developments,
- 10.5.2.5. strategies,
- 10.5.2.6. financials (based on availability)
- 10.5.3. Siklu Communication Ltd (California, U.S.)
- 10.5.3.1. Overview,
- 10.5.3.2. Products & services,
- 10.5.3.3. SWOT analysis,
- 10.5.3.4. Recent developments,
- 10.5.3.5. strategies,
- 10.5.3.6. financials (based on availability)
- 10.5.4. L3 Technologies Inc. (Florida, U.S.)
- 10.5.4.1. Overview,
- 10.5.4.2. Products & services,
- 10.5.4.3. SWOT analysis,
- 10.5.4.4. Recent developments,
- 10.5.4.5. strategies,
- 10.5.4.6. financials (based on availability)
- 10.5.5. NEC Corporation (Tokyo, Japan)
- 10.5.5.1. Overview,
- 10.5.5.2. Products & services,
- 10.5.5.3. SWOT analysis,
- 10.5.5.4. Recent developments,
- 10.5.5.5. strategies,
- 10.5.5.6. financials (based on availability)
- 10.5.6. Smiths Group Plc. (London, U.K.)
- 10.5.6.1. Overview,
- 10.5.6.2. Products & services,
- 10.5.6.3. SWOT analysis,
- 10.5.6.4. Recent developments,
- 10.5.6.5. strategies,
- 10.5.6.6. financials (based on availability)
- 10.5.7. ELVA-1 (Stockholm, Sweden)
- 10.5.7.1. Overview,
- 10.5.7.2. Products & services,
- 10.5.7.3. SWOT analysis,
- 10.5.7.4. Recent developments,
- 10.5.7.5. strategies,
- 10.5.7.6. financials (based on availability)
- 10.5.8. Continental AG (Hanover, Germany)
- 10.5.8.1. Overview,
- 10.5.8.2. Products & services,
- 10.5.8.3. SWOT analysis,
- 10.5.8.4. Recent developments,
- 10.5.8.5. strategies,
- 10.5.8.6. financials (based on availability)
- 10.5.9. Robert Bosch GmbH (Gerlingen, Germany)
- 10.5.9.1. Overview,
- 10.5.9.2. Products & services,
- 10.5.9.3. SWOT analysis,
- 10.5.9.4. Recent developments,
- 10.5.9.5. strategies,
- 10.5.9.6. financials (based on availability)
- 10.5.10. Denso Corporation (Aichi, Japan)
- 10.5.10.1. Overview,
- 10.5.10.2. Products & services,
- 10.5.10.3. SWOT analysis,
- 10.5.10.4. Recent developments,
- 10.5.10.5. strategies,
- 10.5.10.6. financials (based on availability)
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook