2022 Automotive Millimeter-wave Radar Market Research Report
The automotive millimeter-wave (mmWave) radar is based on electromagnetic waves with a frequency of 77 GHz, which provides high precision and accuracy in object detection. This technology has a wide range of applications, including adaptive cruise control, collision avoidance systems, blind-spot detection, lane departure warning, and automatic emergency braking. The market for automotive millimeter wave radar has seen significant growth in recent years, owing to the increasing demand for advanced driver assistance systems (ADAS) and autonomous driving technologies. The market for automotive mmWave radar is highly competitive, key players in the market include companies such as Continental AG, Bosch, Denso Corporation, and Valeo SA.
This report aims to provide a comprehensive analysis of the market, including market size, trends, drivers, challenges, and opportunities, and profiles of key players in the industry.
The global market size of automotive mmWave radar was $3.49 billion in 2022 and it’s estimated to be worth $8.67 billion in 2027, resulting at a 6-year CAGR of 16.4%.
In accordance with geographic location, ICV has divided the global market into five segments: China, Europe, America, Asia (excluding China), Oceania and Middle East (AOME), and Africa. In 2022, the Chinese market held the top spot with a 45% share, closely followed by the European market, while the remaining three segmented markets had market shares of 11.23%, 18.10%, and 1.23%, respectively.
In 2022, the market size of China's automotive millimeter wave radar reached 1.57 billion US dollars, and it is expected to exceed 3 billion US dollars by 2025, and increase to 3.92 billion US dollars by 2027. The market size of the European market in 2022 was 852 million US dollars, and it is expected to increase to 1.99 billion US dollars by 2027.
The main participants in the automotive mmWave radar market include Bosch, Continental AG, Hella, Denso, and Valeo. The market concentration is at a moderate level, with the top three participants accounting for 53% of the market share. ICV predicts that the competitive landscape of automotive mmWave radar will not change significantly in the short term, and it will still be dominated by several automotive components leading manufacturers.
The core components of mmWave radar include MMIC and radar microprocessors (MCU). Currently, most of the cars equipped with mmWave radar only have one MMIC chip, which has very limited imaging capability and cannot scan the "height" of obstacles. ICV analysts believe that the trend of technological development for automotive mmWave radar is to increase the number of MMIC chips. The more MMIC chips there are, the more transmit and receive channels the mmWave radar will have, resulting in better imaging capability.
Table of Contents
Executive Summary
Research Objectives, Scope, and Methodology
1. Introduction
1.1 An overview of Millimeter-wave Radar market
1.2 Classifications
1.3 Assumptions
2. Market Trends and Forecasts
2.1 Global market overview
2.2 China
2.3 Europe
2.4 America
2.5 Asia (excluding China), Oceania, and Middle East region (AOME)
2.6 Africa
3. Core Components of Automotive Millimeter-wave Radar
3.1 MMIC
3.2 Automotive mmWave radar MCU
4. Competitive Landscape
4.1 Key players in the market of automotive mmWave radar
4.2Company profile: Bosch
4.3 Company profile: Continental AG
4.4 Company profile: Hella
4.5 Company profile: Denso
4.6 Company profile: Valeo
Report Link：2022 Automotive Millimeter-wave Radar Market Research Report
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