Millimeter wave radar market analysis: the market size is expected to reach 17.1 billion yuan in 2023

Global Mmwave Radar Analysis Report. Millimeter wave radar is a radar that works in the millimeter wave band. Usually millimeter wave refers to the 30-300GHz frequency domain (wavelength 1-10mm). Compared with the centimeter-wave seeker, the millimeter-wave seeker has the characteristics of small size, light weight and high spatial resolution. Compared with optical seekers such as infrared, laser, and television, the millimeter-wave seeker can penetrate fog, smoke, The ability to dust is strong, and it has the characteristics of all-weather (except heavy rainy days).

As a radar sensor operating in the millimeter wave frequency band, millimeter wave radar is widely used in vehicle, transportation, security, industrial measurement, Household, health care and many other fields.

In recent years, with the rapid development of automobile intelligence and the progress of radar chip manufacturing technology, the global millimeter wave radar industry has developed rapidly. According to relevant data from DIGITIMES Research, the global automotive millimeter-wave radar market will total about US$16 billion in 2022, with a CAGR of 35% from 2017 to 2022; among them, short- and medium-range millimeter-wave radars will be US$8.4 billion, with a CAGR of 48%, and long-range millimeter-wave radars will be 7.56 billion USD, CAGR36%.

In the Chinese market, with the improvement of automobile production, autonomous driving demand and level, the loading penetration rate of my country's millimeter-wave radar industry continues to increase, and the overall market space shows a rapid growth trend. According to the data, in 2018, the market size of my country's millimeter-wave radar industry was 2.35 billion yuan, with a penetration rate of 18%. The CAGR in 2023 is about 48.7%.

At present, overseas manufacturers occupy the dominant market in the domestic millimeter-wave radar industry. However, with the progress and improvement of the domestic radar chip manufacturing process, a large number of millimeter-wave radar start-ups and related listed companies have emerged in my country, such as Desay SV, Huayu Automobile, Hai Convision, Leike Defense, Senstech, Hangzhou Zhibo, Hangzhou Anda, etc.

Moreover, in terms of product indicators, the products produced by domestic millimeter-wave radars and overseas advanced enterprises all meet the requirements of the vehicle specification level, and the gap is small, but there are still large differences in detection accuracy and yield rate. At this stage, most of the millimeter-wave radar products produced in my country are 24GHz millimeter-wave products, and the industrial chain is relatively mature. It has achieved mass production in 2018, but 77GHz is still in the initial stage of development and has not yet achieved mass production.

In addition, entering 2022, investment in my country's millimeter-wave radar industry continues to be hot, and market financing appears to be particularly "money-absorbing". According to incomplete statistics, as of the first half of 2022, a total of 9 radar sensor chip companies in my country have completed corresponding financing, including Galtera Micro, Hangzhou Anda, Gekong Smart, etc. The millimeter wave radar industry is still highly prosperous. At the same time, as one of the core sensors of the automotive intelligent driving system, millimeter-wave radar has also attracted the attention of investment institutions in the field of automotive electronics. In 2022, my country's automotive millimeter-wave radar industry has completed a total of 8 financings. The financing parties include Dexin Intelligent and Shanghai Geometry Partners , Nanjing Chuhang Technology.

For more detailed analysis of the industry, you can click to view the Global Mmwave Radar Market Consulting Report . The report conducts specific investigation, research, and analysis on various factors related to the industry to gain insight into the future development direction of the industry, the evolution trend of the industry's competitive landscape, technical standards, market size, potential problems, and crux of the industry's development, and evaluates the investment value and effect of the industry The degree of benefit, put forward constructive suggestions, and provide reference for industry investment decision makers and business operators.