According to a new market report published by Lucintel, the future of the global millimeter wave (mmWave) radar IC market looks attractive with opportunities in the automotive, telecommunications, security & imaging, and healthcare industries. The global millimeter wave radar IC market is expected to reach an estimated $1.3 billion by 2025 with a CAGR of 16.9% from 2020 to 2025. The major drivers for the growth of this market are increase in the adoption of advanced driver assistance systems (ADAS) technology by OEMs and increasing usage of millimeter wave in small-cell backhaul networks.
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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 global 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 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 of 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 safety of vehicles.
Emerging trends, which have a direct impact on the dynamics of the industry, include introduction of CMOS RF transceiver and increasing usage in the satellite communication. Infineon Technologies AG, NXP Semiconductors N.V. Texas Instruments, United Monolithic Semiconductors, and Mitsubishi Electric Corporation are among the major mmWave radar IC providers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global millimeter wave radar IC market by product type, frequency range, technology, end use industry, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Global Millimeter Wave Radar IC Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global millimeter wave radar IC market by product type, frequency range, technology, end use industry, and the region as follows:
By End Use Industry [$M and M unit shipment analysis from 2014 to 2025]:
- Security & Imaging
By Product Type [$M and M unit shipment analysis from 2014 to 2025]:
- 24 GHz.
- 77 GHz. and Others
By Frequency Range [$M shipment analysis from 2014 to 2025]:
- Short and Medium wave
By Technology [$M shipment analysis from 2014 to 2025]:
- SiGe BiCMOS
- RF CMOS
By Region [$M and M unit shipment analysis for 2014 – 2025]:
- North America
- United States
- United Kingdom
- Asia Pacific
- The Rest of the World
This 165-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/millimeter-wave-radar-ic-market.aspx or email@example.com.
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1 What are some of the most promising, high-growth opportunities for the global millimeter wave radar IC 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)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via product substitution?
Q.11 What M&A activity has occurred in the last 5 years?
Company Name: Lucintel
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