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60GHz mmWave Radar Market

Report on 60GHz mmWave Radar Market: Size, Share, and Growth – Covering by Type (2D, 3D), by Application (Building Automation, Factory Automation, Personal Electronics, Others) Segments, and Regional Analysis – Providing a Global and Regional Industry Overview, Market Intelligence, Premium Insights, Comprehensive Analysis, Historical Data, and Forecasts for the Period 2024-2030

In the intricate realm of technology, the 60GHz mmWave Radar has emerged as a groundbreaking solution, dictating the pace of innovation. This radar system, operating at the millimeter wave frequency of 60GHz, is on a trajectory of substantial growth. Valued at US$ 32.96 million in 2023, the 60GHz mmWave Radar market is poised to soar to new heights, reaching an estimated US$ 286.57 million by 2030. This impressive ascent reflects a remarkable Compound Annual Growth Rate (CAGR) of 36.2% during the forecast period from 2023 to 2030.

At its core, 60GHz mmWave Radar is a radar system hinging on millimeter wave technology, specifically designed to operate at the frequency of 60GHz. This advanced system emits electromagnetic wave signals, which, upon encountering objects in their path, are reflected. By capturing these reflected signals, the radar system unveils crucial information such as the distance, velocity, and angle of objects, thus enabling a spectrum of applications.

Market Dynamics

The driving force behind the exponential growth of the 60GHz mmWave Radar market is its widespread applications across diverse industries. The surge in demand is particularly pronounced in Building Automation, Factory Automation, Personal Electronics, and other sectors. Within this dynamic landscape, the 2D segment stands out, projected to achieve a remarkable % CAGR and reach a valuation of US$ million by the end of the analysis period. Simultaneously, the 3D segment anticipates a robust % CAGR over the next seven years, underlining the evolving nature of this technology.

Industry Giants and Global Dominance

In the competitive arena, Infineon emerges as the behemoth, holding the title of the largest manufacturer of 60GHz mmWave Radar globally, boasting an impressive 34% market share. Other key players, including Texas Instruments and Acconeer, contribute to the industry’s dynamism. Geographically, Europe takes the lead, commanding a substantial 54% share of global production, with North America also playing a pivotal role as an important production region.

Product Insights

Dimensions Matter: 2D vs. 3D
In terms of product types, the 2D segment steals the spotlight, commanding a dominant share of approximately 63%. This underscores the prevalent preference for two-dimensional radar applications. Moreover, in the realm of product applications, Building Automation takes the lead with a substantial 57% market share, followed by Factory Automation and Personal Electronics, revealing the diverse utility of 60GHz mmWave Radar.

Report Objectives

This comprehensive report aims to provide invaluable insights into the 60GHz mmWave Radar market across various dimensions.

1. Global Market Size and Forecasts
Delving into growth rates, market dynamics, industry structure, and developments, the report seeks to present a holistic view of the market’s current situation and future trends.

2. Global Market Share and Ranking by Company
The report meticulously details the global 60GHz mmWave Radar market share and ranking of key players, offering a glimpse into their competitive positioning within the 60GHz mmWave Radar landscape.

3. Detailed Segmentation and Analysis
A crucial aspect of the report involves providing a detailed segmentation of the global market for 60GHz mmWave Radar, combining quantitative and qualitative analyses to offer a nuanced understanding.

4. Value Chain Analysis
The report conducts a meticulous value chain analysis, reviewing growth factors essential for both existing market players and new entrants, thereby unraveling the intricacies of the industry.

5. Emerging Opportunities and Future Impact
Anticipating future trends, the report explores emerging opportunities in the market and assesses the potential impact of major drivers and restraints on market dynamics.

Key Features of The Study

1. Market Size and Forecast
The report unfolds a detailed analysis of the global 60GHz mmWave Radar market, presenting market size in US$ million and CAGR projections for the forecast period (2023-2029), with 2022 serving as the base year.

2. Company Profiles
Profiles of key players, including Infineon, Texas Instruments, Acconeer, Socionext, and Calterah, provide insights into their founding details, headquarters, manufacturing bases, product portfolios, sales data, market share, and ranking.

3. Market Opportunities
Unraveling potential market opportunities across different segments, the report elucidates attractive investment proposition matrices for the 60GHz mmWave Radar market.

4. Market Insights
The report presents key insights into market drivers, restraints, opportunities, trends, and regional outlook, contributing to a comprehensive understanding of the 60GHz mmWave Radar landscape.

Market Segmentation

Company Profiles

  1. Infineon
  2. Texas Instruments
  3. Acconeer
  4. Socionext
  5. Calterah

Global 60GHz mmWave Radar Market, by Region

  1. North America (U.S., Canada, Mexico)
  2. Europe (Germany, France, UK, Italy, etc.)
  3. Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
  4. South America (Brazil, etc.)
  5. Middle East and Africa (Turkey, GCC Countries, Africa, etc.)

Global 60GHz mmWave Radar Market, Segment by Type

  1. 2D
  2. 3D

Global 60GHz mmWave Radar Market, by Application

  1. Building Automation
  2. Factory Automation
  3. Personal Electronics
  4. Others
Core Chapters

1. Introduction and Executive Summary
This chapter introduces the study scope, providing an executive summary of market segments by Type and market size segments for North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

2. Competitive Landscape
A detailed analysis of 60GHz mmWave Radar manufacturers, encompassing competitive landscape, pricing, sales, revenue, market share, ranking, and the latest developments, including mergers and acquisitions.

3. Regional Analysis
Analyzing sales and revenue of 60GHz mmWave Radar on a regional level, this chapter offers a quantitative analysis of market size and development potential for each region. It introduces future development prospects and market space globally.

4. Market Segments by Application
Introducing market segments by Application, this chapter details market size segments for North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

5-9. Regional Sales and Revenue
Detailed sales and revenue analysis by country for North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

10. Company Profiles
This chapter provides detailed profiles of key players, offering insights into their product sales, revenue, pricing, gross margin, product introduction, recent development, and more.

11. Industrial Chain Analysis
An in-depth analysis of the industrial chain, encompassing key raw materials, manufacturing cost, and market dynamics. It introduces the market dynamics, latest developments, driving factors, restrictive factors, challenges, risks, and relevant industry

Frequently Asked Questions

The global 60GHz mmWave Radar market size was valued at USD 32.96 million in 2023 and is projected to reach USD 44.89 million by 2024.
The global 60GHz mmWave Radar market is projected to grow at a compound annual growth rate (CAGR) of 36.2% reaching USD 286.57 million by 2030.
Some of the key players operating in the 60GHz mmWave Radar market include Infineon, Texas Instruments, Acconeer, Socionext, Calterah

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