According to the recent study the automotive millimeter-wave radar IC market is projected to reach an estimated $877.9 million by 2027 from $369.5 million in 2021, at a CAGR of 15.5% from 2021 to 2027. Growth in this market is primarily driven by increase in the adoption of ADAS technology by OEMs, increasing governments’ regulations for vehicle safety, and growing demand for autonomous vehicles.
Browse 96 figures / charts and 87 tables in this 165 -page report to understand trends, opportunities and forecast in automotive millimeter-wave radar IC market by product type (24GHz , 77GHz and others), application (adaptive cruise control, blind spot detection (BSD), forward collision warning, parking assist, automatic emergency braking system (AEBS), and other automotive advanced driver assistance systems (ADAS)), frequency range (short and medium radar and long-range radar), technology (GaAs, SiGe BICMOS, RF CMOS) and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“24 GHz market is expected to remain the largest segment during the forecast period.”
Based on product type, the automotive millimeter-wave radar IC market is segmented into 24 GHz and 77 GHz others. Lucintel forecasts that the 24 GHz market is expected to remain the largest segment due to its low cost. 77 GHz other types mmWave radar IC are expected to witness the highest growth during the forecast period due to its wider bandwidth, improve range resolution, and accuracy.
“Within the automotive millimeter-wave radar IC market, the adaptive cruise control segment is expected to remain the largest application”
Based on application the adaptive cruise control segment is expected to witness the highest growth over the forecast period.
“North America will dominate the automotive millimeter-wave radar IC market in near future”
North America will remain the largest region and Europe is expected to witness highest growth over the forecast period
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Major players of automotive millimeter-wave radar IC market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Infineon Technologies AG, NXP Semiconductors N.V., Texas Instruments, United Monolithic Semiconductor, and Mitsubishi Electric Corporation are among the major automotive millimeter-wave radar IC providers.
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