Millimeter Wave Sensors & Modules Market: Global Industrial Analysis and Forecast (2023-2029)

Millimeter Wave Sensors & Modules Market size was valued at US$ 131.3 Mn. in 2022 and the total revenue is expected to grow at 37.8 % through 2023 to 2029, reaching nearly US$ 1239.4 Mn.
Millimeter Wave Sensors & Modules Market Overview:
Within the broad wireless data transmission group, the millimeter waveband is a microwave subset (radio wave spectrum band). In comparison to Wi-Fi and other wireless communication systems, millimeter-wave radios necessitate antennas that are measured in inches. The current spectrum of millimeter wave technology includes sensors and modules such as radar communication systems, satellite communications networks, and communication facilities. Virtual reality devices use Mm Wave sensors and modules to transmit high-definition audio and video.To know about the Research Methodology :- Request Free Sample Report
Dynamics:
The demand for high-speed data in mobile phones and mobile broadband, high-definition games, high-definition multimedia and OTT services continues to increase. Devices are in reduced visibility and severe storms (such as smoke, fog, rain, and thunderstorms with minimal noise), and automotive long-range radar (LRR), Advanced avionics navigation systems, and instrument landing systems (ILS) are rapidly increasing, the digitization of automotive radar systems, advancement fifth-due to the need for higher bandwidth, more and more Internet-driven applications and solutions are some of the main and crucial factors,

The need for high-bandwidth, high-speed internet across the telecom sector is necessitated by continuously up this opportunity from bandwidth-intensive applications, coming primarily from consumer electronic items such as smartphones and wearable electronics. Development of high sensors and devices is expected to rise as data-intensive applications such as video streaming; unified communications, internet-based media exchange, and high-speed online gaming grow in popularity, raising demand for MMW (millimeter wave) sensors and modules.

Rapidly increasing kinds of government spending, as well as a spike in the proportion of R&D activities, would, on the other hand, aid the advancement of the millimeter wave (mm Wave) sensors and modules market in the anticipated period by producing substantial potential.

However, Low access power through objects along with non-uniform licensing approach which will likely to act as market restraints factor for the growth of the millimeter wave (mmWave) sensors and modules over the forecast period. Ease of use of alternative beside with threat of new competitor which will turn out to be the major and key challenge for the growth of the market.
Millimeter Wave Sensors & Modules Market Segment Analysis:
Based on the Frequency Band, the global Millimeter Wave Sensors & Modules market is sub-segmented into V-Band, E-Band and Other Frequency Bands. The E-Band segment held the largest market share of 68% in 2022. Over the forecasted period, the market for E-band frequency applications is expected to undergo a significant transition. E-band frequencies have a wide range of applications in the telecommunications industry. The telecommunications industry is expected to maintain its position as the market leader.

Based on the Application, the global Millimeter Wave Sensors & Modules market is sub-segmented into Telecommunications, Military & Defense, Automotive & Transport, Healthcare, Electronics & Semiconductor and Security. The Telecommunications segment held the largest market share of 52% in 2022. As a result of rapid urbanization for high-speed data transmission and communication in the residential and commercial sectors, such as data centres and IT offices. Also, the Military & Defense is expected to grow at a highest CAGR of xx% in the global millimetre wave sensors & modules market during the forecast period. Because MMW modules and sensors are increasingly being used in military and defence applications. During the forecast period, the security application segment is estimated to grow effectively to create significant economic benefits. MMW scanners are in high competition and are being used by international airport authorities across the globe.
Regional Insights:
North America held the largest market share of 47% in 2022. The increasing mm Wave technology market has resulted in greater spending in the defense sector. Mm Wave sensors and signal devices are gradually being used by the military to enhance strong encryption. Also, Leading and early majority of continually evolving innovation are countries such as the United States and Canada. As a consequence of these characteristics, MM wave technology can be used in a multitude of scenarios.

Asia Pacific is expected to grow at a highest CAGR of xx% in the global Millimeter Wave Sensors & Modules market during the forecast period. The growth and enhancement of Asia Pacific's telecom infrastructures can be attributed to the region's rapid technological advancement. Also, the deployment of new telecom equipment based on MM wave technology is likely to have a substantial impact on the market in the region.

The objective of the report is to present a comprehensive analysis of the global Millimeter Wave Sensors & Modules Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also helps in understanding the global Millimeter Wave Sensors & Modules Market dynamic, structure by analyzing the market segments and project the global Millimeter Wave Sensors & Modules Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Millimeter Wave Sensors & Modules Market make the report investor’s guide.
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Millimeter Wave Sensors & Modules Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 131.3 Mn.


Forecast Period 2023 to 2029 CAGR:
37.8 %
Market Size in 2029:
US $ 1239.4 Mn.


 Segments Covered:
by Frequency Band
V-Band
E-Band
Other Frequency Bands


by Application
Telecommunications
Military & Defense
Automotive & Transport
Healthcare
Electronics & Semiconductor
Security



by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Millimeter Wave Sensors & Modules Market Key Players
1. Aviat Networks, Inc.
2. Siklu Communication Ltd.
3. E-band Communications LLC
4. Sage Millimeter, Inc.
5. Bridgewave Communications, Inc.
6. Farran Technology Ltd.
7. Keysight Technologies, Inc.
8. Lightpointe Communications, Inc.
9. Millitech, Inc.
10.NEC Corporation
11.QuinStar Technology, Inc.
12.Trex Enterprises Corporation
13.Texas Instruments
14.Virginia Diodes
15.MediaTek Inc.
16.Pulsar Process Management Ltd
17.Infineon Technologies AG

Frequently Asked Questions:

1] What segments are covered in Millimeter Wave Sensors & Modules Market report?
Ans. The segments covered in market report are based on Frequency Band and Application.

2] Which region is expected to hold the highest share in the Millimeter Wave Sensors & Modules Market?
Ans. North America is expected to hold the highest share in the market.

3] What is the market size of Millimeter Wave Sensors & Modules Market by 2029?
Ans. The market size of market is expected to reach US $ 1239.4  Mn. by 2029.

4] Who are the top key players in the Millimeter Wave Sensors & Modules Market?
Ans. Aviat Networks, Inc., Siklu Communication Ltd., E-band Communications LLC, Sage Millimeter, Inc. and Bridgewave Communications, Inc. are the top key players in the global market.

5] What was the market size of Millimeter Wave Sensors & Modules Market in 2022?
Ans. The market size of market in 2022 was US $ 131.3 Mn.