Trends, opportunities, and forecast in millimeter-wave radar IC market to 2025 by product type (24 GHz.and 77 GHz. and others), by frequency range (Short and Medium, Long-Range), by Technology (GaAs, RF CMOS, and SiGe BiCMOS), by end-use industry (Automotive, Telecommunication, Security & Imaging, Healthcare, and Others), and by region (North America, Europe, Asia Pacific, and the Rest of the World)
The future of the millimeter-wave (mmWave) radar IC market looks attractive with opportunities in the automotive, telecommunications, security & imaging, and healthcare industries. The millimeter-wave radar IC market is expected to decline in 2020 due to the global economic recession led by COVID-19. However, the market will witness recovery in the year 2021 and it is expected to reach an estimated $1.2 billion by 2025 with a CAGR of 16% to 18% from 2020 to 2025. The major drivers for the growth of this market are the increase in the adoption of advanced driver assistance systems (ADAS) technology by OEMs and increasing usage of millimeter-wave in small-cell backhaul networks.
mm-wave radar IC opportunities have evolved through a number of stages as presented in the figure below:
Evolution of mmWave Radar IC Opportunities
In this market, 77 GHz. and another mmWave radar IC is the largest product type, whereas automotive is the largest end-use industry. Growth in various segments of the mm-wave radar IC market is given below:
mmWave Radar IC Market by Segments
The study includes the millimeter-wave radar IC market size and forecast for the millimeter wave radar IC market through 2025, segmented by product type, frequency range, technology, end-use industry, and the region as follows:
Millimeter-Wave Radar IC Market by End-Use Industry [$M and M unit shipment analysis from 2014 to 2025]:
• Automotive
• Telecommunication
• Security & Imaging
• Healthcare
• Others
Millimeter-Wave Radar IC Market by Product Type [$M and M unit shipment analysis from 2014 to 2025]:
• 24 GHz.
• 77 GHz. and Others
Millimeter-Wave Radar IC Market by Frequency Range [$M shipment analysis from 2014 to 2025]:
• Short and Mediumwave
• Long-Range
Millimeter-Wave Radar IC Market by Technology [$M shipment analysis from 2014 to 2025]:
• GaAs
• Si
Ge BiCMOS
• RF CMOS
Millimeter-Wave Radar IC Market by Region [$M and M unit shipment analysis for 2014 – 2025]:
• North America
• United States
• Canada
• Mexico
• Europe
• United Kingdom
• Germany
• Asia Pacific
• Japan
• China
• The Rest of the World
Some of the mmWave radar IC companies profiled in this report include Infineon Technologies AG, NXP Semiconductors N.
V. Texas Instruments, United Monolithic Semiconductors, and Mitsubishi Electric Corporation and others.
In this market, two types of products, such as 24 GHz. and 77 GHz. and others are used. 77 GHz. type mm-Wave radar IC is expected to witness the highest growth during the forecast period due to its wider bandwidth, improve range resolution and accuracy. Due to their increased signal bandwidth, they have the capability to distinguish between diverse objects and also offer high resolution.
The millimeter-wave (mmWave) radar IC market is being used in various end-use industries, such as automotive, telecommunication, security & imaging, healthcare, and others. Automotive will remain the largest end-use industry during the forecast period. Telecommunication is expected to witness the highest growth over the forecast period due to the growing usage of mm-wave radar IC in high-speed wireless broadband communications.
North America is the largest region by value and volume due to stringent government regulations on safety and increasing demand for autonomous vehicles. Europe is expected to witness the highest growth over the forecast period supported by increasing adoption of ADAS technology by OEMs and government regulations on the safety of vehicles.
