How to promote the application of millimeter wave radar sensors in the Internet of Things
Currently, the development of China's Internet of Things industry is in a historical period of cross-border integration, accelerated innovation, and deep adjustment. As the core component of the sensing layer of the Internet of Things, sensors are the foundation of "perceiving the world", and also the foundation of "Internet of Things", which is of great significance for supporting the construction of the Internet of Things industrial system.
Millimeter wave radar, as a radar sensor operating in the millimeter wave frequency band, is widely used in many fields such as vehicle, transportation, security, industrial measurement, home, health, and other fields by accurately detecting the distance, speed, azimuth, and micro motion of targets. In recent years, thanks to the rapid development of automotive intelligence and the progress of radar chip manufacturing technology, the overall domestic millimeter wave radar market has grown rapidly.
According to preliminary estimates by AIOT Star Map Research Institute, the total size of China's millimeter wave radar market is expected to reach 8.6 billion yuan in 2022, with a year-on-year growth of 24.6%. Among them, the scale of vehicular millimeter wave radar is 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 market scale of millimeter wave radar sensors will further expand. It is expected that the millimeter wave radar market in China will approach a scale of 20 billion yuan by 2026, with a compound annual growth rate of 23%.