24GHz Radar Chip Market Analysis:
The global 24GHz Radar Chip Market was valued at 14.9 million in 2023 and is projected to reach US$ 61.9 million by 2030, at a CAGR of 23.1% during the forecast period.
24GHz Radar Chip Market Overview
A 24GHz radar chip is a semiconductor device designed to operate at a frequency of 24 gigahertz. It is widely used in:
Automotive radar systems
Industrial sensors
Traffic monitoring
Short-range radar applications
These chips transmit and receive electromagnetic signals at 24GHz to detect objects, measure distances, and provide critical sensing data for a variety of applications.
We have surveyed the 24GHz Radar Chip manufacturers, suppliers, distributors, and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks
This report aims to provide a comprehensive presentation of the global market for 24GHz Radar Chip, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding 24GHz Radar Chip. This report contains market size and forecasts of 24GHz Radar Chip in global, including the following market information:
- Global 24GHz Radar Chip market revenue, 2019-2024, 2025-2030, ($ millions)
- Global 24GHz Radar Chip market sales, 2019-2024, 2025-2030, (K Units)
- Global top five 24GHz Radar Chip companies in 2023 (%)
24GHz Radar Chip Key Market Trends :
Growing Automotive Integration
24GHz radar chips are increasingly integrated into vehicles for features like collision warning, blind-spot detection, and automated parking assistance.Expansion into Industrial Automation
The use of 24GHz radar technology is rapidly expanding into warehouse logistics, robotics, and manufacturing for object detection and motion sensing.Smart City Deployments
Radar chips are playing a major role in traffic monitoring, pedestrian detection, and urban surveillance systems within smart city projects.IoT and Edge Computing Integration
24GHz radar chips are being embedded in IoT devices and edge platforms to enable real-time sensing, analytics, and smart decision-making.Focus on Cost-Effective Radar Solutions
The market is favoring affordable 24GHz radar chips that deliver reliable short- to medium-range detection for mass-market applications.
24GHz Radar Chip Market Regional Analysis :
North America:
Strong demand driven by EVs, 5G infrastructure, and renewable energy, with the U.S. leading the market.
Europe:
Growth fueled by automotive electrification, renewable energy, and strong regulatory support, with Germany as a key player.
Asia-Pacific:
Dominates the market due to large-scale manufacturing in China and Japan, with growing demand from EVs, 5G, and semiconductors.
South America:
Emerging market, driven by renewable energy and EV adoption, with Brazil leading growth.
Middle East & Africa:
Gradual growth, mainly due to investments in renewable energy and EV infrastructure, with Saudi Arabia and UAE as key contributors.
Total Market by Segment:
Global 24GHz Radar Chip market, by Type, 2019-2024, 2025-2030 ($ millions) & (K Units)
Global 24GHz Radar Chip market segment percentages, by Type, 2023 (%)
- 1D
- 2D
Global 24GHz Radar Chip market, by Application, 2019-2024, 2025-2030 ($ Millions) & (K Units)
Global 24GHz Radar Chip market segment percentages, by Application, 2023 (%)
- Automotive
- IoT
- Others
Competitor Analysis
The report also provides analysis of leading market participants including:
- Key companies 24GHz Radar Chip revenues in global market, 2019-2024 (estimated), ($ millions)
- Key companies 24GHz Radar Chip revenues share in global market, 2023 (%)
- Key companies 24GHz Radar Chip sales in global market, 2019-2024 (estimated), (K Units)
- Key companies 24GHz Radar Chip sales share in global market, 2023 (%)
Further, the report presents profiles of competitors in the market, key players include:
- Infineon
- Socionext
Key Market Drivers
Automotive Safety Features
The growing demand for advanced driver assistance systems (ADAS) such as collision avoidance, parking assistance, and lane-change support is driving the adoption of 24GHz radar chips.Cost-Effectiveness Compared to Higher-Frequency Radars
24GHz radar chips offer a more affordable solution for manufacturers looking to equip vehicles and industrial systems with reliable sensing capabilities.Environmental Resilience
These radar chips maintain strong performance in harsh weather conditions like rain, fog, and snow, making them ideal for safety-critical applications.
Key Market Restraints
Interference and Signal Clutter
Managing external interference and nearby object clutter remains a challenge in optimizing radar chip performance.Resolution and Accuracy Trade-Offs
Balancing the range, resolution, and accuracy requirements is complex, especially for applications needing high-definition object detection.Regulatory Compliance Challenges
Ensuring that 24GHz radar chips meet stringent RF emission standards and electromagnetic compatibility requirements can limit market entry for some players.
Key Market Opportunities
Smart City Infrastructure Development
The rising investment in smart cities and intelligent traffic systems creates significant opportunities for the adoption of 24GHz radar chips.Industrial IoT Expansion
Growing industrial IoT (IIoT) networks demand advanced sensing technologies, opening new avenues for 24GHz radar chips in warehouses, factories, and logistics hubs.Autonomous System Innovations
With advancements in autonomous vehicles and robotics, the demand for reliable and cost-effective radar solutions like 24GHz chips is projected to rise sharply.
Key Market Challenges
Complex Sensor Fusion
Combining data from radar, lidar, cameras, and other sensors requires sophisticated algorithms and high processing power, posing integration challenges.Supply Chain Vulnerabilities
Global semiconductor shortages and geopolitical risks could impact the steady supply of 24GHz radar chips.Environmental Testing Requirements
Comprehensive real-world testing for different weather and operational conditions remains a critical but challenging step in radar chip development.
FAQs
Q1. What are the key driving factors and opportunities in the 24GHz Radar Chip market?
A1. The key drivers include increasing automotive safety applications, cost-effective radar solutions, and industrial automation. Opportunities lie in smart city projects, IoT integration, and autonomous systems development.
Q2. Which region is projected to have the largest market share?
A2. Asia-Pacific is expected to dominate the 24GHz Radar Chip market, driven by high automotive production, industrial automation, and smart city initiatives.
Q3. Who are the top players in the global 24GHz Radar Chip market?
A3. Leading companies include Texas Instruments, Infineon Technologies, NXP Semiconductors, STMicroelectronics, and Analog Devices.
Q4. What are the latest technological advancements in the industry?
A4. Recent advancements include improved radar chip resolution, enhanced sensor fusion techniques, miniaturization for IoT devices, and edge AI integration for real-time analytics.
Q5. What is the current size of the global 24GHz Radar Chip market?
A5. The global 24GHz Radar Chip market was valued at $14.9 million in 2023 and is projected to reach $61.9 million by 2030, growing at a CAGR of 23.1%.
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