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EV Millimeter Wave Radar Market Share Driven by Rising Adoption of Advanced Driver Assistance Systems | Valuates Reports
EV Millimeter Wave Radar Market SizeThe global market for EV Millimeter Wave Radar was valued at US$ 9120 million in the year 2024 and is projected to reach a revised size of US$ 31992 million by 2031, growing at a CAGR of 19.2% during the forecast period.
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The EV millimeter wave radar market is experiencing robust market growth, supported by the increasing integration of advanced driver assistance systems (ADAS) and autonomous driving technologies in electric vehicles. Market trends highlight the growing use of radar sensors for collision avoidance, adaptive cruise control, and blind spot detection, which are essential for improving driving safety and efficiency. With global EV adoption accelerating, the overall market size for millimeter wave radar solutions is expanding steadily.
By type, the 77 GHz segment holds the largest market share due to its superior range, accuracy, and suitability for advanced autonomous driving functions. The 24 GHz segment continues to serve applications requiring short-to-medium range detection but is gradually transitioning toward higher frequency alternatives. The "others" category, which includes evolving frequency bands and emerging technologies, is also contributing to overall market growth and diversification.
By application, EVs represent the dominant market share, driven by the rising adoption of fully electric vehicles equipped with advanced radar-based safety and navigation systems. Meanwhile, the PHEV segment is showing notable market growth as plug-in hybrid vehicles increasingly adopt radar technologies to enhance driver safety and meet regulatory standards for intelligent transport systems. Both segments are shaping the market forecast with expanding demand across regions.
Looking forward, the EV millimeter wave radar market forecast points to strong growth opportunities, supported by rapid developments in autonomous driving, rising safety regulations, and technological innovations in radar miniaturization and signal processing. Increasing collaborations between automakers and radar technology providers are expected to further boost market share, reinforcing the critical role of millimeter wave radar in the future of electric mobility.
Segment by Type
• 77 GHz
• 24 GHz
• Others
Segment by Application
• EVs
• PHEV
By Company
Bosch, Continental, Denso, Hella, Veoneer, Luminar, Valeo, ZF, WHST, Hitachi Astemo
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