Dallas, TX / CRWE PRESS RELEASE / April 11, 2022 - According to the recent study the automotive millimeter-wave radar IC Market is projected to reach an estimated $0.8 billion by 2025 from $0.4 billion in 2019, at a CAGR of 14.2% from 2020 to 2025. Growth in this market is primarily driven by increase in the adoption of ADAS technology by OEMs, increasing governments’ regulations for vehicle safety, and growing demand for autonomous vehicles.

Browse 96 figures / charts and 87 tables in this 166 -page report to understand trends, opportunities and forecast in automotive millimeter-wave radar IC market product type (24 GHz and 77 GHz & others), by frequency range (Short & Medium and Long-Range), by manufacturing technology (GaAs, RF CMOS, and SiGe BiCMOS), by application (adaptive cruise control, blind spot detection (BSD), forward collision warning, parking assist, automatic emergency braking system (AEBS), and others applications), and by region (North America, Europe, Asia Pacific, and the Rest of the World).

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“77 GHz and other types market is expected to remain the largest segment during the forecast period.”

Based on product type, the automotive millimeter-wave radar IC market is segmented into 24 GHz and 77 GHz and others. Lucintel forecasts that the 77 GHz and others market is expected to remains the highest segment due to its wider bandwidth, improve range resolution, and accuracy. 

“Within the automotive millimeter-wave radar IC market, the adaptive cruise control segment is expected to remain the largest application”

Based on application, the adaptive cruise control segment is expected to witness the highest growth over the forecast period due to increased occurrences of road accidents and growing concerns towards road safety are expected to drive the use of mmWave radar IC in this application. AEBS is expected to witness the highest growth over the forecast period. 

“North America will dominate the automotive millimeter-wave radar IC market in near future”

North America is expected to be the largest region with the largest growth over the forecast period 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.

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Major players of automotive millimeter-wave radar IC market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Technologies AG, NXP Semiconductors N.V., United Monolithic Semiconductors, Mitsubishi Electric Corporation, and Texas Instruments and others are among the major automotive millimeter-wave radar IC providers.

This unique 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/automotive-millimeter-wave-radar-ic-market.aspx or helpdesk@lucintel.com