Global Millimeter Wave Radar Market Size [2022-2028] | is Expected to Reach USD 1,401.4 Million, at a CAGR of 13.7%

Millimeter Wave Radar Market Key Companies Analyzed in this Report Are Bridegewave Communications (California, U.S.), E-Band Communications (California, U.S.), Siklu Communication Ltd (California, U.S.), L3 Technologies Inc. (Florida, U.S.), NEC Corporation (Tokyo, Japan), Smiths Group Plc. (London, U.K.), ELVA-1 (Stockholm, Sweden), Continental AG (Hanover, Germany), Robert Bosch GmbH (Gerlingen, Germany), Denso Corporation (Aichi, Japan).

Pune, India, Jan. 28, 2022 (GLOBE NEWSWIRE) -- According to the report, the global Millimeter Wave Radar market size was USD 567.2 million in 2020. The market is expected to grow from USD 572.1 million in 2021 to USD 1,401.4 million in 2028 at a CAGR of 13.7% in the 2021-2028 period. According to our researchers, rising installation of the device in vehicles in order to reduce traffic mishaps and improve autonomous driving shall result in the broader usage of automotive millimetre wave radars. It is executed in several usages, such as warning drivers towards probable jeopardies and even calculating distance and preserving intervals between adjacent automobiles.

Amplified Automation of Manufacturing Line amid COVID-19 to Foster Growth

Penetration of millimeter wave technology in the automobile industry is expected to upsurge principally owing to the prompt growth of the sustaining 5G infrastructure in fundamental areas since the pandemic. With the rising emphasis on communication between automobiles, pedestrians, and even road infrastructure, various OEMs are managing C-V2X pilot agendas with the objective of commercial placement since 2022. These influences, in turn, will result in a growing demand for millimeter wave technology. Henceforth, the pandemic has enhanced the millimeter wave radar market growth.

Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/millimeter-wave-radar-market-105482

Passenger Car Segment to Hold the Largest Market Share

By vehicle type, the market is segmented into passenger cars and commercial vehicles. The passenger car segment held the largest share of the market

By frequency band, the market is segmented into 24 GHz and 77 GHz & others. By technology, this market is segmented into GaAs, Silicon Germanium BiCMOS, and RF CMOS. In terms of region, the market is classified into North America, Europe, Asia Pacific, and the rest of the world.

High Benefits of MWR Will Drive Growth of Market

Millimeter wave radar (MWR) offers stable detection performance. It is not affected by the surface shape and colour of the measured object and has strong adaptability to atmospheric turbulence. It provides a long detection range; the general detection range is 150m-200m, which can meet environmental monitoring requirements within a large range in high-speed driving. Furthermore, it has a strong penetrating ability, ensuring the regular operation of vehicles under various weather conditions. Hence, these factors will drive the growth of the market.

Click here to get the short-term and long-term impacts of COVID-19 on this Market. Please visit: https://www.fortunebusinessinsights.com/millimeter-wave-radar-market-105482

Regional Insights:

Presence of Several Key Players to Boost Growth in North America
North America held the largest millimeter wave radar market share and was valued at USD 294.9 million in 2020. Several major players offering millimeter wave-based products such as Eravant, Keysight Technologies, and L3HARRIS TECHNOLOGIES are headquartered in this region.

Europe is also expected to show considerable growth in the market. Factors such as regulatory harmonization in terms of spectrum allocation and extensive investment in time trial and deployment of 5G networks will propel the growth of the market in this region.
Asia Pacific is anticipated to exhibit substantial growth in the market during the forecast period.

Innovative Product Unveiling by Vital Players to Drive Market Growth
The chief players in the market employ various tactics to fortify their position in the market as leading companies. One such substantial tactic is procuring companies to motivate the brand value among users. Another fundamental strategy is intermittently launching inventive products with detailed evaluation of the market and its target audience.

Quick Buy - Millimeter Wave Radar Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/105482

List of the Companies Operating in the Market:

• Bridegewave Communications (California, U.S.)

• E-Band Communications (California, U.S.)

• Siklu Communication Ltd (California, U.S.)

• L3 Technologies Inc. (Florida, U.S.)

• NEC Corporation (Tokyo, Japan)

• Smith’s Group Plc. (London, U.K.)

• ELVA-1 (Stockholm, Sweden)

• Continental AG (Hanover, Germany)

• Robert Bosch GmbH (Gerlingen, Germany)

• Denso Corporation (Aichi, Japan)

Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/millimeter-wave-radar-market-105482

Global Millimeter Wave Radar Market Segmentation:

By Vehicle Type:

• Passenger Cars

• Commercial Vehicles

By Technology:

• Silicon-Germanium BiCMOS

• RF CMOS

• GaAs

By Frequency:

• 24 GHz

• 77 GHz

• Others

By Geography:

• North America (USA, Canada)

• Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)

• Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

• Latin America (Brazil, Mexico, Rest of Latin America)

• Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/millimeter-wave-radar-market-105482

Table Of Content:

1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Industry Developments - Merger, Acquisitions, and Partnerships
4.2. Porter’s Five Forces Analysis
4.3. SWOT Analysis
4.4. Technological Developments
4.5. Value Chain Analysis
4.6. Impact of COVID-19 on Millimeter Wave Radar Market
5. Global Millimeter Wave Radar Market Analysis, Insights and Forecast, 2017-2028
5.1. Key Findings / Summary
Continued…

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Contact Us:

US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Fortune Business Insights™
LinkedIn | Twitter | Blogs