Millimeter Wave Radar Market Analysis

Frequency Band (24GHz, 60GHz, 76/79GHz)

Frequency band of 76/79 GHz segment is poised to hold millimeter wave radar market share of over 45.8% by the end of 2037. This band is preferred owing to its optimum suitability in automotive radar applications, especially in ADAS. Growth in this segment can be attributed to growing demand in the automotive sector for radar collision avoidance and lane keeping. For example, in February 2024, Ceragon launched its 76/79 GHz technology, embodied with high data rates and connectivity suitable for state-of-the-art automotive applications. This new technology enables seamless communication between vehicles and their surroundings, enhancing real-time situational awareness essential for autonomous navigation.

Sensing Fusion Configuration (Radar + Camera, Radar + LIDAR, Others)

In millimeter wave radar market, Radar + LIDAR segment is likely to dominate revenue share of over 45.5% by 2037, due to the increase in enhanced detection capabilities over a wide range of automotive and industrial applications. A combination of radar with LIDAR better the recognition of objects and thus gives better depth perception, which is important in applications needing high accuracy. In July 2024, Sumitomo Electric presented its NEXUSEYE radar sensors for pedestrian detection. This product makes use of the fusion of radar and LIDAR technologies, hence showing its potential to enhance safety under critical conditions and drive the proliferation of these autonomous systems.

Our in-depth analysis of the global market includes the following segments: