Millimeter Wave Radar Market Share

  • Report ID: 6145
  • Published Date: Oct 21, 2024
  • Report Format: PDF, PPT

Millimeter Wave Radar Industry - Regional Synopsis

Asia Pacific Market Statistics

Asia Pacific millimeter wave radar market is predicted to dominate revenue share of around 48.7% by the end of 2037. This is owing to rapid urbanization, increasing investments in digital infrastructure, and the rising population in countries such as India and China. Such factors add to the already steady deployment of 5G technology and smart city development as the determining factors. The increasing demand for affordable connectivity and automation in city infrastructure-especially in the automotive sector or telecommunication fields-relies on high-frequency radar systems that provide accurate data in real time.

Market growth in India is fueled by initiatives such as Digital India set up by the government to develop a strong digital framework. Moreover, in March 2024, Avant Technology announced an investment of USD 100 million in an AI-centric data center in India to further consolidate its local data processing and millimeter wave radar capabilities. This facility is expected to be fully operational by 2025, with a design to serve the automotive and telecommunications industries using state-of-the-art radar technologies, catering to the growing demand for high-speed, secure connectivity.

China also contributes a major share due to its massive manufacturing hubs and rapid technology development. Chuhang Technology has launched its new 60 GHz millimeter wave radar product suite at IAA Mobility 2023 in Germany for in-cabin sensing. This marked the first appearance on the international stage and reflected the impact companies in China are making in the radar market. The technology developed in partnership with emotion3D, aims to enhance driver monitoring systems with capabilities like drowsiness detection, underscoring China's leadership in automotive radar solutions and further solidifying its competitive position in Asia Pacific market.

North America Market Analysis

North America millimeter wave radar market is projected to witness growth rate of around 26% from 2025 to 2037, owing to high demand for frequency bands in telecommunications, automotive, and military sectors. The U.S. and Canada are leading countries in the market due to their advanced technological infrastructure and further investment in 5G networks. Also, government initiatives and public-private partnerships for connectivity and smart infrastructure development in urban areas further boost the market growth.

The adoption of millimeter wave radar technology in the U.S. is driven by significant investment in 5G infrastructure and a strong emphasis on the development of autonomous vehicle technology. Furthermore, the market is defined by collaborations that have challenged the frontiers of telecommunications and radar. In December 2023, T-Mobile partnered with Qualcomm and Ericsson to achieve a record speed of 4.3 Gbps on the mmWave spectrum. This showcases the commitment of the country to offering modern telecommunications infrastructure using mmWave technology to satisfy the need for next-generation connectivity in urban and rural areas.

Canada also contributes to the growth of the North America mmWave radar market with its smart city development and advanced radar solutions for public safety. The country is also actively deploying radar technology in metropolitan infrastructures, with partnerships highlighting pedestrian safety and environmental resilience. Companies are developing sensors designed for correct pedestrian detection even in bad weather conditions, underlining Canada's commitment to using radar technology to improve citizens' safety and furthering smart city initiatives.

Millimeter Wave Radar Market share

Browse key industry insights with market data tables & charts from the report:

Frequently Asked Questions (FAQ)

In 2024, the industry size of millimeter wave radar was USD 10.2 billion.

The global millimeter wave radar market size was USD 10.2 billion in 2024 and is predicted to reach USD 202.9 billion by the end of 2037, rising at a CAGR of 26.1% during the forecast period, i.e., 2025-2037. In 2025, the industry size of millimeter wave radar will be valued at USD 12.4 billion.

Key players in the market are Novelic, Infineon Technologies AG, NXPSemiconductors, Minew Group, Texas Instruments Incorporated, Fujitsu, D3, Asahi Kasei Microdevices Corporation, Mistral Solutions Pvt. Ltd, DALIAN IFLABEL TECHNOLOGY CO., LTD.

The 76/79GHz segment is projected to lead the millimeter wave radar market during the forecast period.

Asia Pacific is expected to provide expansion opportunities to the companies in the millimeter wave radar market during the forecast period.
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