At present, the development of China’s Internet of Things industry is in the cross-border integration, accelerating innovation and deep adjustment of the historical period, the sensor as the core components of the Internet of Things perception layer, is the “sense the world” of the base, but also the “Internet of Everything” of the book, to support the construction of the Internet of Things It is important to support the construction of IoT industrial system.
As a kind of radar sensor working in millimeter wave band, millimeter wave radar is widely used in vehicle, transportation, security, industrial measurement, home, recreation and many other fields by accurately detecting the distance, speed, azimuth and micro-motion of the target. In recent years, thanks to the rapid development of automotive intelligence and the progress of radar chip production process, the overall domestic millimeter wave radar market is growing rapidly.
According to preliminary estimates by AIOT Star Chart Research Institute, the total size of China’s millimeter wave radar market is expected to reach 8.6 billion yuan in 2022, achieving a year-on-year growth of 24.6%. Among them, the scale of vehicle millimeter wave radar is at 7 billion yuan, industrial millimeter wave radar is 1.1 billion yuan, and household millimeter wave radar is 500 million yuan.
In the future, the millimeter wave radar sensor market size will further expand. China’s millimeter wave radar market is expected to approach 20 billion yuan in size by 2026, with a compound annual growth rate of 23%.
Millimeter wave radar market size in China from 2018-2026 (unit: billion yuan)
From the segmented product market structure, 77GHz radar product shipments officially exceeded 24GHz radar products in 2021 and became the mainstream of the market. With the official implementation of the Interim Regulations on Automotive Radar Radio Management, the future high frequency development trend of millimeter wave radar market will be more obvious.
The 24GHz radar product shipments reached 8.36 million units in 2021. Due to the adjustment of China’s new automotive radar radio management regulations on the automotive radar frequency band, the incremental demand space for 24GHz radar products is predicted to be limited in the next few years.
China’s millimeter wave radar shipments from 2018-2026 (unit: million units)
In order to better promote the practical application of millimeter wave radar sensors in the Internet of Things, help companies find differentiated areas and actively explore new markets, AIOT Star Chart Research Institute, in conjunction with IOT Media and Shenzhen Internet of Things Industry Association, organized the – 2022 China millimeter wave radar market research activities, and through in-depth research on domestic millimeter wave radar companies to form the “2022 China millimeter wave radar sensor market research report”.
