Market and Technology Trends

Status of the Radar Industry 2024

By Yole Intelligence — Apr 2024

Radars are rapidly moving beyond their traditional uses and are being adopted by a wider range of industries. This growth is driven by two factors: recent regulation changes and advancements in radar technology.

YINTR24415

After conquering the automotive industry, radar sets its sights on another multi-billion dollar market

Radar applications are expanding beyond traditional uses, driven by new regulations and advancements in radar technology. This trend is happening not only in established industries like automotive, industrial, and defense, but also in new areas like consumer electronics and healthcare. Improvements in accuracy, size, cost, and power consumption are making radar a perfect fit for these new markets, opening doors to massive opportunities.

This report analyzes the radar market from 2023 to 2029. It dives deep into the Radar supply chain, the systems that use radar technology, and the latest trends in radar technology at various levels, from entire systems to antennas and devices. It explains the key factors that influence the global Radar market.

Overall, the Radar module market is projected to reach close to $36.5 billion by 2029, exhibiting a 5% compound annual growth rate from the $26.7 billion revenues recorded in 2023.

Intensifying competition is forcing major chipmakers to re-evaluate their strategies

The market for radar modules is highly competitive, with a wide range of companies battling for market share. This competition is fierce across all sectors, from the overcrowded automotive radar to the specialized niche of industrial applications. As a result, module providers are constantly driving down prices to remain competitive. Recent collaborations among OEMs, Tier 1 suppliers, chipmakers, and antenna manufacturers are gaining momentum, shedding light on the strategic positions adopted by each participant.

While the module provider landscape is fragmented, the radar device market is a tight race with only a few players at the forefront. These established players, who often supply across industries, are now facing a new wave of competition by totally different players, from consumer electronics companies to OEMs and Tier1s looking to climb the value chain by developing their own chips.

Recent technological advancements are poised to make their mark on the market this year, heralding significant shifts in the supply chain landscape. The integration of transceiver and processing into a single radar chip, made possible by CMOS-based radar, promises cost savings, space efficiency, and streamlining of the supply chain for OEMs. Moreover, automotive companies are gearing up for a transformative phase in E/E architecture, which will fundamentally redefine the roles of industry participants.

In the relentless pursuit of autonomous driving, the radar industry is navigating a transformative journey

Special focus has been made on the automotive industry, recognized as the most technologically dynamic market. While the automotive sector is highlighted, we also delve into technological trends across various industries.

In the rapidly evolving realm of automotive technology, the shift from GaAs to SiGe, and now to CMOS radar modules, has been groundbreaking. This progression has not only slashed costs significantly but also suggests a future where the standard 77GHz radar's price could plummet to as low as $30 by 2030. Yet, the ambitions go further; there's a concerted effort to lower the average selling price of cutting-edge 4D imaging radar to fit within OEMs' budget constraints.

Despite advancements in radar technology, current capabilities still fall short of meeting the demands for full autonomous driving. Module manufacturers are actively exploring various architectural approaches to bridge this gap, aiming to widen the FOV and enhance angular resolution. This experimentation involves increasing RF channels, boosting computing power, or employing a blend of both strategies for optimal impact. It's a dynamic landscape fostering innovation in pursuit of the ultimate goal of autonomous driving.

Furthermore, OEMs are spearheading a significant shift toward vehicle centralization, expected to be fully realized between 2030 and 2035. This transition foretells a future where more affordable, compact radars with enhanced computational capabilities and superior system performance become standard, paving the way for a genuinely autonomous driving experience.

Report objectives

Provide market metrics for radar modules in Automotive, Defense & Aerospace, Industrial, Consumer and Medical markets.
Provide market metrics for radar devices (transceivers, processors, PMIC, networking, timing, AiP/AoP/LoP/RoC, single chip) for Automotive, Industrial, Consumer and Medical.
Present main market trends in radar for Automotive, Defense & Aerospace, Industrial, Consumer and Medical.
Oversee the radar system and device supply chain and its regulation landscape. Highlight recent supply chains and business model evolutions.
Provide deep insight into radar module and device suppliers, their portfolio and their business and marketing strategy.
Analyze the ASP of different radar modules and devices.
Focus on automotive: ADAS package trends and evolution.
Provide main technological trends for radars, especially in interference management, E/E centralization and antennas.
Status of currently available products in the market with a focus on the Chinese ecosystem.

Key features:

2019-2029 forecast for radar modules revenues ($M) and shipments (Munits), split by application and frequency.
Focus automotive: 2019-2029 forecast for radar modules revenues ($M) and shipments (Munits), split by frequency, mounting position, computing and antenna type.
2019-2029 forecast for automotive in-cabin radar modules revenues ($M) and shipments (Munits).
2019-2029 forecast for radar devices (transceivers, processors, PMIC, networking, timing, AiP/AoP/LoP/RoC, single chip), split by application, frequency and component type and technology platform..
From module to device: overview of the radar supply chain and its regulation landscape.
Deep insight into radar module and device suppliers, their portfolio and their marketing strategy.
ASP analysis of radar module, device and ADAS packages.
Overview of the technology trends in radar, from module to antenna and devices.

Do you have an account?