Research Nester’s recent market research analysis on “Millimeter Wave Radar Market: Global Demand Analysis & Opportunity Outlook 2037” delivers a detailed competitors analysis and a detailed overview of the global millimeter wave radar market in terms of market segmentation into component, frequency band, distance, application, sensing fusion configuration, and by region.
Growing Integration in Industrial Automation to Promote Global Market Share of Millimeter Wave Radar
The global millimeter wave radar market is estimated to grow majorly on account of the growing adoption in the industrial automation sector. Millimeter-wave radar sensors are used to measure and monitor levels in industrial tanks, silos, and containers. The radar sensors, which offer accurate and reliable measurements of liquid, solid, or granular materials, allow precise inventory management, process control as well as optimization of inventories in sectors such as oil and gas, chemicals, mining, and agriculture.
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Some of the major growth factors and challenges that are associated with the growth of the global millimeter wave radar market are:
Growth Drivers:
• Surge in Demand in Automotive Industry
• Rising Need for in the Healthcare Sector
Challenges:
Millimeter wave radar, which provides overlapping or complementary functions in a wide range of applications including surveillance, industrial automation, and vehicle safety, faces competition from LiDARLight Detection and Ranging and camera-based sensors. Further, the high cost of technology is one of the major factors anticipated to hamper the global market size of millimeter wave radar.
By component, the global millimeter wave radar market is segmented into antennas, transceivers, and power amplifiers. The antennas segment is to garner the highest revenue of USD 83.20 billion by the end of 2037 by growing at a significant CAGR over the forecast period.
The requirements of high performance and low loss, combined with the small size and depth for vehicle integration, the challenge of the millimeter wave frequency range as well as a large cost pressure on this commercial application determine the choice and design of sensor antennas. As a result, planar antenna is dominant in the low-frequency range, while lens and reflector antennas have been selected as early as 76.5 GHz with a partially folded configuration.
By region, the Asia Pacific excluding Japan millimeter wave radar market is to generate the highest revenue by the end of 2036. Demand for vehicles equipped with advanced driver assistance systems is growing in the region due to increasing consumer awareness of the importance of vehicle safety features. The need is driven by millimeter wave radar, which offers advanced safety features to improve driver security, comfort, and convenience resulting in widespread adoption of the automotive market.

This report also provides the existing competitive scenario of some of the key players of the global millimeter wave radar market which includes company profiling of Echodyne Corp., Texas Instruments Incorporated, Arrow Electronics, Fujitsu Ltd, Indie Semiconductor, KeySight Technologies,, and others.
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https://www.researchnester.com/reports/millimeter-wave-radar-market/6145
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