mmWave Sensors and Modules Market Size was valued at USD 0.187 billion in 2023 and is expected to reach USD 1.81 Billion by 2031 and grow at a CAGR of 32.85 % over the forecast period 2024-2031.
Millimeter waveband is a subset of microwave (radio wave spectrum band) that is used for wireless data transmission. In comparison to Wi-Fi and other wireless connectivity technologies, millimeter-wave radios require very small antennas measured in inches. The millimeter wave technology market currently encompasses sensors and modules such as radar communication systems, satellite communication systems, and telecommunication equipment.
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mmWave sensors and modules are used in virtual reality devices to transmit HD audio and video. Because of the requirement for small-sized components, mmWave can be used in mobile devices to enable highly secure data transmission. In the forecast period, the mmWave sensor and modules market is expected to be driven by rising demand for high-speed data in mobile phones and mobile broadband, high-definition gaming, high-definition multimedia, and over-the-top (OTT) services.
KEY DRIVERS:
The growing demand for high-speed data in mobile phones.
Millimeter wave technology is becoming increasingly popular in radar and security applications.
The widespread use of mmWave in consumer electronics.
RESTRAINTS:
Delay in Spectrum Allocation Standardization.
OPPORTUNITIES:
Evolution of 5G in Mobile Broadband and IoT.
CHALLENGES:
This will be covered under the final version of the report.
Based on frequency band, the mmWave sensors and modules market is segmented into V-Band, E-Band, and Other Bands. The E-band frequency segment had the largest market share and is expected to grow at the fastest CAGR during the forecast period. Over the forecast period, the market for E-band frequency applications is expected to undergo a significant shift. E-band frequencies have numerous applications in the telecommunications equipment industry. The telecommunications industry is expected to maintain its dominance over the entire market. V-band frequencies range from 40 GHz to 70 GHz, and millimetre waves in these bands are especially useful in military and defence applications. Furthermore, V-band frequencies are widely used in radar and satellite communications.
Based on application, the mmWave sensors and modules market is segmented into IT & Telecommunications, Automotive & Transport, Electronics & Semiconductor, Military & Defense, Healthcare, and Security. Because of the increasing adoption of mmWave modules and sensors in various military and defence applications, the military and defence segment is expected to grow at the fastest rate over the forecast period. Over the forecast period, the security application segment is expected to grow rapidly and generate significant revenue. Millimeter wave scanners are in high demand and are being adopted by international airport authorities all over the world. Because of the global terrorism issue, increased adoption of mmWave scanners is expected to propel the growth of mmWave technology across the security application segment.
BY FREQUENCY BAND
V-Band
E-Band
Other Bands
BY APPLICATION
IT & Telecommunications
Automotive & Transport
Electronics & Semiconductor
Military & Defense
Healthcare
Security
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The market for mmWave sensors and modules is divided into North America, Europe, Asia Pacific, South America, and MEA. North America held the largest market due to greater technological acceptance in the region. Countries such as the United States and Canada are prominent and early adopters of emerging technologies. As a result of these factors, the mmWave technology is finding new applications.
The millimeter-wave technology market in Asia Pacific, South America, and MEA is expected to grow significantly during the forecast period. Asia Pacific is expected to have the fastest CAGR during the forecast period. The rapid growth of technology in Asia Pacific can be attributed to the development and improvement of its telecom infrastructures. Furthermore, the installation of new telecom equipment based on mmWave technology is expected to significantly drive the market across the region.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The key players in the mmWave sensors and modules market are Aviat Networks, E-band Communications, Farran Technology, Lightpointe Communications, NEC Corporation, Siklu Communication, Bridgewave Communications, Keysight Technologies, Millitech, Trex Enterprises Corporation & Other Players.
Farran Technology-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 0.187 Billion |
| Market Size by 2031 | US$ 1.81 Billion |
| CAGR | CAGR of 32.85 % From 2024 to 2031 |
| Base Year | 2022 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Frequency Band (V-Band, E-Band, Other Bands) • By Application (IT & Telecommunications, Automotive & Transport, Electronics & Semiconductor, Military & Defense, Healthcare, Security) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Aviat Networks, E-band Communications, Farran Technology, Lightpointe Communications, NEC Corporation, Siklu Communication, Bridgewave Communications, Keysight Technologies, Millitech, and Trex Enterprises Corporation. |
| Key Drivers | • The growing demand for high-speed data in mobile phones. • Millimeter wave technology is becoming increasingly popular in radar and security applications. |
| RESTRAINTS | • Delay in Spectrum Allocation Standardization. |
The market value is expected to reach USD 1.81 Billion by 2031.
Delay in Spectrum Allocation Standardization are limiting the mmWave Sensors and Modules Market's expansion.
The key players in the mmWave sensors and modules market are Aviat Networks, E-band Communications, Farran Technology, Lightpointe Communications, NEC Corporation, Siklu Communication, Bridgewave Communications, Keysight Technologies, Millitech, and Trex Enterprises Corporation.
Top-down research, bottom-up research, qualitative research, quantitative research, and Fundamental research.
Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. mmWave Sensors and Modules Market Segmentation, by Frequency Band
8.1Introduction
8.2 V-Band
8.3 E-Band
8.4 Other Bands
9. mmWave Sensors and Modules Market Segmentation, by Application
9.1Introduction
9.2 IT & Telecommunications
9.3 Automotive & Transport
9.4 Electronics & Semiconductor
9.5 Military & Defense
9.6 Healthcare
9.7 Security
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 USA
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4 Asia-Pacific
10.4.1 Japan
10.4.2 South Korea
10.4.3 China
10.4.4 India
10.4.5 Australia
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.1 Israel
10.5.2 UAE
10.5.3 South Africa
10.5.4 Rest
10.6 Latin America
10.6.1 Brazil
10.6.2 Argentina
10.6.3 Rest of Latin America
11.Company Profiles
11.1 Trex Enterprises Corporation
11.1.1 Financial
11.1.2 Products/ Services Offered
11.1.3 SWOT Analysis
11.1.4 The SNS view
11.2 Aviat Networks
11.3 E-band Communications
11.4 Farran Technology
11.5 Lightpointe Communications
11.6 NEC Corporation
11.7 Siklu Communication
11.8 Bridgewave Communications
11.9 Keysight Technologies
11.10 Millitech
12.Competitive Landscape
12.1 Competitive Benchmark
12.2 Market Share analysis
12.3 Recent Developments
13.Conclusion
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