Qian Zhan Wang·2025-04-03 08:15Group 1 - The global millimeter-wave radar market is projected to reach approximately $4.7 billion in 2024, up from $3.49 billion in 2022, indicating significant growth driven by advancements in autonomous driving technology [1][3] - By 2030, the market size is expected to expand to around $11.45 billion, reflecting the rapid penetration of millimeter-wave radar across various price segments in the automotive industry [3] - The demand for short- and mid-range millimeter-wave radar is the primary focus in the automotive market, with short- and mid-range mmWave accounting for 38% of the market share in 2023 [6] Group 2 - Level 3 autonomous vehicles typically utilize five millimeter-wave radars, while Level 5 vehicles are anticipated to employ eight radars, enhancing their sensing capabilities [5] - The current market composition for vehicle-mounted millimeter-wave radar includes 2% for LiDAR, 26% for camera modules, 34% for long-range mmWave, and 38% for short- and mid-range mmWave [6] - Major listed companies in the industry include Desay SV Automotive, Huayu Automotive Systems, Luxshare Precision, OFILM Group, Jingwei Hirain Technologies, and United Imaging [1]