Press release
Millimeter Wave Radar IC Industry Market is projected to reach around USD 3.2 billion by 2034
Millimeter Wave Radar IC
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Market Overview
According to the report, the global Millimeter Wave Radar Integrated Circuit (IC) market was valued at approximately USD 1.2 billion in 2024 and is projected to reach around USD 3.2 billion by 2034, expanding at a CAGR of approximately 10.4% over the forecast period (2025-2034).
Key Market Drivers & Trends
• Automotive Safety & Autonomy: Increasing adoption of millimeter-wave radar ICs in advanced driver assistance systems (ADAS) and autonomous vehicles is driving demand for high-performance radar sensors capable of precise object detection and range estimation.
• Telecommunications & Connectivity: Expansion of high-frequency wireless networks and demand for enhanced bandwidth and spatial awareness in 5G and beyond support radar IC adoption outside traditional sensing applications.
• Industrial & Consumer Use Cases: Industrial automation, robotics, and emerging consumer electronics applications are incorporating mmWave radar ICs for motion detection, occupancy sensing, and gesture control.
Segmentation Insights
The report analyzes the market across multiple segments, including:
• Product Types: Monolithic Microwave Integrated Circuits (MMICs), discrete components, hybrid ICs.
• Applications: Automotive, telecommunications, aerospace & defense, industrial automation, consumer electronics.
• Frequency Bands: 24 GHz, 60 GHz, 77 GHz, 79 GHz, and others.
• Components: Transmitters, receivers, transceivers, antennas, signal processors.
• End Users: Automotive manufacturers, telecommunications companies, defense contractors, industrial equipment makers, and electronics OEMs.
Explore Full Report here: https://exactitudeconsultancy.com/reports/70196/millimeter-wave-radar-ic-industry-market
Regional Insights
• North America leads the global market, driven by strong automotive and technology sectors with advanced radar adoption.
• Asia-Pacific is projected to be the fastest-growing region, propelled by rapid industrialization, increasing vehicle production, and 5G infrastructure deployment.
• Europe continues to show steady growth due to rising automotive safety regulations and radar technology integration.
Competitive Landscape
Major industry players driving innovation and competitive dynamics include:
• Texas Instruments
• Analog Devices
• NXP Semiconductors
• Infineon Technologies
• Qualcomm
• Renesas Electronics
• Skyworks Solutions
• MACOM Technology Solutions
• Qorvo
• Broadcom
• NEC Corporation
• STMicroelectronics
These companies are advancing radar IC performance through enhanced integration, miniaturization, and support for automotive and communications applications.
Strategic Importance
Millimeter wave radar ICs are crucial components in next-generation sensing systems, enabling high-resolution detection, enhanced safety performance, and reliable operation across automotive, industrial, and communications applications. As demand for autonomous systems and high-speed connectivity expands globally, mmWave radar ICs are poised for strong growth, innovation, and broader adoption across multiple sectors.
This report is also available in the following languages : Japanese (ミリ波レーダーIC産業市場), Korean (밀리미터파 레이더 IC 산업 시장), Chinese (毫米波雷达集成电路行业市场), French (Marché de l'industrie des circuits intégrés radar à ondes millimétriques), German (Markt für Millimeterwellen-Radar-ICs), and Italian (Mercato industriale dei circuiti integrati radar a onde millimetriche), etc.
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