The mmWave Sensors and Modules Market size was valued at USD 181.7 million in 2023 and is expected to reach USD 2029.1 million by 2031 with a growing CAGR of 35.2 % over the forecast period 2024-2031.
The mmWave sensor and module market is experiencing a surge driven by the ever-increasing demand for high-speed connectivity. Activities like video streaming and online gaming require faster data speeds, and traditional solutions are reaching their limits. 5G network rollouts are heavily reliant on mmWave technology to achieve the high bandwidth needed for these applications. Companies like Verizon (US) and Huawei (China) are leading the way in deploying mmWave technology for 5G. Beyond just connectivity, mmWave technology is transforming transportation. Precise object detection and distance measurement capabilities make mmWave radar sensors ideal for autonomous vehicles and advanced driver-assistance systems. Companies like Texas Instruments, NXP Semiconductors and Continental are at the forefront of developing these sensors for the automotive industry. The impact extends to industrial automation as well. mmWave sensors are enhancing production line monitoring and object tracking, leading to improved efficiency for manufacturers. Applications include robotic automation, material handling, and quality control. Companies like Siemens (Germany), Rockwell Automation, and Mitsubishi Electric are actively exploring this potential.
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KEY DRIVERS:
The rise of industrial automation necessitates reliable object detection and monitoring systems in factories.
The growing demand for high-speed data in mobile phones is a major force fueling the market growth for mobile data and related technologies.
The need for faster data speeds drives investment in network infrastructure like cell towers and fiber optic cables. This creates growth in related industries like telecom equipment manufacturing and network service providers. This creates growth in related industries like telecom equipment manufacturing and network service providers. also, the surge in demand for data-based solutions and service, such as online video and cloud storage is creating opportunities for developers and service providers for eg,
Companies like Verizon and AT&T are investing heavily in 5G network services that rollouts to cater to the growing demand for high-speed data. also Apple and Samsung are constantly upgrading their processors and modems to deliver faster data speeds on their smartphones.
RESTRAINTS:
mmWave technology has limitations in adverse weather.
Millimeter wave (mmWave) technology offers numerous advantages in terms of high bandwidth and fast data transmission speeds. But, Negative weather conditions, particularly heavy rain and fog can detract from its effectiveness. for eg. In self-driving cars, mmWave radar sensors are crucial for object detection and distance measurement. Heavy rain or fog can weaken the signal, potentially leading to missed detections or inaccurate readings. This can compromise the safety and reliability of autonomous vehicles in such conditions.
OPPORTUNITIES:
Advanced Imaging and Scanning
AI and Machine Learning Integration can significantly enhance their capabilities.
mmWave sensors can be used to develop sophisticated imaging and scanning systems. Applications range from security and surveillance scanners to medical imaging for non-invasive diagnostics. For instance, researchers are developing mmWave security scanners that can detect concealed weapons without physical contact
CHALLENGES:
Strict regulatory requirements and safety standards, particularly in sectors like automotive and healthcare, can create hurdles for market expansion.
Regulatory bodies impose stringent safety standards on mmWave sensors to ensure they operate within safe power limits and do not interfere with other devices. This can lengthen the development and approval process for new mmWave sensor applications. also Regulatory frameworks for mmWave technology are still evolving, particularly regarding spectrum allocation and usage. This can create uncertainty for manufacturers and hinder market growth.
In 2023, a medical device startup developing a novel mmWave cancer detection system faced delays in obtaining regulatory approval due to evolving guidelines on the safe use of mmWave technology in healthcare applications. The company had to adapt their design and conduct additional safety testing to comply with the latest regulations.
Ukraine is a major producer of high-purity neon gas, a critical element in the laser lithography process used for chip manufacturing. mmWave sensors rely on advanced semiconductors. The shortage of chips due to the neon crisis directly affects the production of mmWave sensors, potentially causing delays and production slowdowns. for eg, In April 2024, a leading manufacturer of mmWave radar sensors for autonomous vehicles announced a production cut of 20% due to the global chip shortage. The company cited difficulties in procuring essential semiconductors needed for their mmWave sensor modules. secondly, Russia is a major exporter of several metals like palladium and platinum, which are essential components in mmWave sensors. The war and subsequent sanctions have led to a surge in the prices of these metals. The increased cost of raw materials puts pressure on mmWave sensor manufacturers, squeezing their profit margins and potentially leading to price hikes for end-users. In a Q1 2024 earnings report, a manufacturer of mmWave modules for 5G networks reported a significant rise in material costs due to the war. The company is considering price adjustments for their mmWave modules to offset the increased expenses.
During economic slowdown, companies often tighten their budgets and delay capital expenditures. This can significantly impact industries like automotive and industrial automation, which are major adopters of mmWave sensors. Businesses may become more cautious about investing in new technologies like mmWave sensors, especially if the return on investment (ROI) is uncertain. This could lead to a slowdown in market growth. also, Consumers may cut back on discretionary spending during an economic slowdown. This could affect the demand for smartphones with advanced mmWave technology for faster data speeds, potentially impacting a segment of the mmWave sensor market. on the other hand , Economic downturns often lead to increased scrutiny of government spending. This could result in reduced investments in infrastructure projects like 5G network rollouts, which heavily rely on mmWave technology.
For Eg, Economic downturns often lead to increased scrutiny of government spending. This could result in reduced investments in infrastructure projects like 5G network rollouts, which heavily rely on mmWave technology.
By Frequency Band
V-Band
E-Band
Other Bands
Based on frequency band, the mmWave sensors and modules market is segmented into V-Band, E-Band, and Other Bands. the E-band currently holds the largest market share, exceeding 60% and is expected to grow at the fastest CAGR during the forecast period. Over the forecast period, The E-band frequency range is well-suited for high-bandwidth applications like 5G backhaul and millimeter wave communication in telecom infrastructure. This focus on telecommunications has driven market growth for E-band mmWave sensors and modules. 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.
By Application
IT & Telecommunications
Electronics & Semiconductor
Automotive & Transport
Military & Defense
Healthcare
Security
Based on application, the mmWave sensors and modules market is segmented into IT & Telecommunications, Automotive & Transport, Electronics & Semiconductor, Military & Defense, Healthcare, and Security. Telecommunications segment is currently the largest driver of the mmWave sensor and module market, likely holding a market share exceeding 40% . The focus on 5G network rollouts and high-speed data transmission heavily relies on E-band mmWave technology.
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.
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Asia Pacific is poised to exhibit the fastest CAGR of between 42% and 43.5% over the forecast period in the mmWave Sensors and Modules Market. Asia Pacific is a major hub for electronics manufacturing. This proximity to production facilities can benefit the cost-effectiveness and scalability of mmWave sensors and modules. In adiition, Many Asian governments are investing heavily in infrastructure development and technological advancements. This creates a supportive environment for the adoption of mmWave technology.
For Eg, China's ambitious plans for 5G network infrastructure development which heavily relies on mmWave technology. Also, the Growing demand for advanced driver-assistance systems (ADAS) in the Asian automotive market, leading to increased adoption of mmWave radar sensors.
North America currently holds the largest market share for mmWave sensors and modules, exceeding 40%. because of its early adoption of new technologies. Companies in the US and Canada have been at the forefront of developing and deploying mmWave technology across various sectors. The rollout of 5G networks is a major driver in North America. mmWave technology plays a crucial role in achieving the high-speed data transmission capabilities needed for 5G.
For eg. Verizon's deployment of mmWave technology for ultrafast 5G internet in major US cities. and Early integration of mmWave radar sensors in self-driving car prototypes by American automotive companies.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
KEY PLAYERS:
The major key players are Aviat Networks, E-band Communications, Farran Technology, Lightpointe Communications, NEC Corporation, Siklu Communication, Bridgewave Communications, Keysight Technologies, Millitech, Trex Enterprises Corporation, and other key players.
Farran Technology-Company Financial Analysis
In May 9, 2024, NXP Announces New High-Performance mmWave Radar Chipset:
NXP Semiconductors, a leading manufacturer of semiconductors, announced the launch of their new "TEF82xx" mmWave radar chipset. This chipset is designed for automotive applications and offers improved range, resolution, and power efficiency compared to previous models.
In April 12, 2024, Infineon and Denso Collaborate on mmWave Radar for Autonomous Vehicles:
Infineon Technologies, a major semiconductor company, and Denso Corporation, a leading automotive parts supplier, announced a collaboration to develop a next-generation mmWave radar sensor specifically designed for autonomous vehicles.
In March 15, 2024, Samsung Unveils New mmWave Module for 5G Smartphones:
Samsung Electronics, a global technology giant, unveiled their new "Exynos mmWave5" module on March. This module is designed to enable faster data speeds and improved connectivity for 5G smartphones.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 181.7 Million |
| Market Size by 2031 | US$ 2029.1 Million |
| CAGR | CAGR of 35.2% 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 (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia 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. |
Ans. The mmWave Sensors and Modules market size is forecasted to surpass USD 2029.1 million 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. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact Of Russia Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. mmWave Sensors and Modules Market Segmentation , By Frequency Band
9.1 Introduction
9.2 Trend Analysis
9.3 V-Band
9.4 E-Band
9.5 Other Bands
10. mmWave Sensors and Modules Market Segmentation , By Application
10.1Introduction
10.2 Trend Analysis
10.3 IT & Telecommunications
10.4 Electronics & Semiconductor
10.5 Automotive & Transport
10.6 Military & Defense
10.7 Healthcare
10.8 Security
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 Trend Analysis
11.2.2 North America mmWave Sensors and Modules Market by Country
11.2.3 North America mmWave Sensors and Modules Market By Frequency Band
11.2.4 North America mmWave Sensors and Modules Market By Application
11.2.5 USA
11.2.5.1 USA mmWave Sensors and Modules Market By Frequency Band
11.2.5.2 USA mmWave Sensors and Modules Market By Application
11.2.6 Canada
11.2.6.1 Canada mmWave Sensors and Modules Market By Frequency Band
11.2.6.2 Canada mmWave Sensors and Modules Market By Application
11.2.7 Mexico
11.2.7.1 Mexico mmWave Sensors and Modules Market By Frequency Band
11.2.7.2 Mexico mmWave Sensors and Modules Market By Application
11.3 Europe
11.3.1 Trend Analysis
11.3.2 Eastern Europe
11.3.2.1 Eastern Europe mmWave Sensors and Modules Market by Country
11.3.2.2 Eastern Europe mmWave Sensors and Modules Market By Frequency Band
11.3.2.3 Eastern Europe mmWave Sensors and Modules Market By Application
11.3.2.4 Poland
11.3.2.4.1 Poland mmWave Sensors and Modules Market By Frequency Band
11.3.2.4.2 Poland mmWave Sensors and Modules Market By Application
11.3.2.5 Romania
11.3.2.5.1 Romania mmWave Sensors and Modules Market By Frequency Band
11.3.2.5.2 Romania mmWave Sensors and Modules Market By Application
11.3.2.6 Hungary
11.3.2.6.1 Hungary mmWave Sensors and Modules Market By Frequency Band
11.3.2.6.2 Hungary mmWave Sensors and Modules Market By Application
11.3.2.7 Turkey
11.3.2.7.1 Turkey mmWave Sensors and Modules Market By Frequency Band
11.3.2.7.2 Turkey mmWave Sensors and Modules Market By Application
11.3.2.8 Rest of Eastern Europe
11.3.2.8.1 Rest of Eastern Europe mmWave Sensors and Modules Market By Frequency Band
11.3.2.8.2 Rest of Eastern Europe mmWave Sensors and Modules Market By Application
11.3.3 Western Europe
11.3.3.1 Western Europe mmWave Sensors and Modules Market by Country
11.3.3.2 Western Europe mmWave Sensors and Modules Market By Frequency Band
11.3.3.3 Western Europe mmWave Sensors and Modules Market By Application
11.3.3.4 Germany
11.3.3.4.1 Germany mmWave Sensors and Modules Market By Frequency Band
11.3.3.4.2 Germany mmWave Sensors and Modules Market By Application
11.3.3.5 France
11.3.3.5.1 France mmWave Sensors and Modules Market By Frequency Band
11.3.3.5.2 France mmWave Sensors and Modules Market By Application
11.3.3.6 UK
11.3.3.6.1 UK mmWave Sensors and Modules Market By Frequency Band
11.3.3.6.2 UK mmWave Sensors and Modules Market By Application
11.3.3.7 Italy
11.3.3.7.1 Italy mmWave Sensors and Modules Market By Frequency Band
11.3.3.7.2 Italy mmWave Sensors and Modules Market By Application
11.3.3.8 Spain
11.3.3.8.1 Spain mmWave Sensors and Modules Market By Frequency Band
11.3.3.8.2 Spain mmWave Sensors and Modules Market By Application
11.3.3.9 Netherlands
11.3.3.9.1 Netherlands mmWave Sensors and Modules Market By Frequency Band
11.3.3.9.2 Netherlands mmWave Sensors and Modules Market By Application
11.3.3.10 Switzerland
11.3.3.10.1 Switzerland mmWave Sensors and Modules Market By Frequency Band
11.3.3.10.2 Switzerland mmWave Sensors and Modules Market By Application
11.3.3.11 Austria
11.3.3.11.1 Austria mmWave Sensors and Modules Market By Frequency Band
11.3.3.11.2 Austria mmWave Sensors and Modules Market By Application
11.3.3.12 Rest of Western Europe
11.3.3.12.1 Rest of Western Europe mmWave Sensors and Modules Market By Frequency Band
11.3.2.12.2 Rest of Western Europe mmWave Sensors and Modules Market By Application
11.4 Asia-Pacific
11.4.1 Trend Analysis
11.4.2 Asia Pacific mmWave Sensors and Modules Market by Country
11.4.3 Asia Pacific mmWave Sensors and Modules Market By Frequency Band
11.4.4 Asia Pacific mmWave Sensors and Modules Market By Application
11.4.5 China
11.4.5.1 China mmWave Sensors and Modules Market By Frequency Band
11.4.5.2 China mmWave Sensors and Modules Market By Application
11.4.6 India
11.4.6.1 India mmWave Sensors and Modules Market By Frequency Band
11.4.6.2 India mmWave Sensors and Modules Market By Application
11.4.7 Japan
11.4.7.1 Japan mmWave Sensors and Modules Market By Frequency Band
11.4.7.2 Japan mmWave Sensors and Modules Market By Application
11.4.8 South Korea
11.4.8.1 South Korea mmWave Sensors and Modules Market By Frequency Band
11.4.8.2 South Korea mmWave Sensors and Modules Market By Application
11.4.9 Vietnam
11.4.9.1 Vietnam mmWave Sensors and Modules Market By Frequency Band
11.4.9.2 Vietnam mmWave Sensors and Modules Market By Application
11.4.10 Singapore
11.4.10.1 Singapore mmWave Sensors and Modules Market By Frequency Band
11.4.10.2 Singapore mmWave Sensors and Modules Market By Application
11.4.11 Australia
11.4.11.1 Australia mmWave Sensors and Modules Market By Frequency Band
11.4.11.2 Australia mmWave Sensors and Modules Market By Application
11.4.12 Rest of Asia-Pacific
11.4.12.1 Rest of Asia-Pacific mmWave Sensors and Modules Market By Frequency Band
11.4.12.2 Rest of Asia-Pacific mmWave Sensors and Modules Market By Application
11.5 Middle East & Africa
11.5.1 Trend Analysis
11.5.2 Middle East
11.5.2.1 Middle East mmWave Sensors and Modules Market by Country
11.5.2.2 Middle East mmWave Sensors and Modules Market By Frequency Band
11.5.2.3 Middle East mmWave Sensors and Modules Market By Application
11.5.2.4 UAE
11.5.2.4.1 UAE mmWave Sensors and Modules Market By Frequency Band
11.5.2.4.2 UAE mmWave Sensors and Modules Market By Application
11.5.2.5 Egypt
11.5.2.5.1 Egypt mmWave Sensors and Modules Market By Frequency Band
11.5.2.5.2 Egypt mmWave Sensors and Modules Market By Application
11.5.2.5 South Africa
11.5.2.5.1 South Africa mmWave Sensors and Modules Market By Frequency Band
11.5.2.5.2 South Africa mmWave Sensors and Modules Market By Application
11.5.2.6 Rest of Africa
11.5.2.6.1 Rest of Africa mmWave Sensors and Modules Market By Frequency Band
11.5.2.6.2 Rest of Africa mmWave Sensors and Modules Market By Application
11.5.2.6 Saudi Arabia
11.5.2.6.1 Saudi Arabia mmWave Sensors and Modules Market By Frequency Band
11.5.2.6.2 Saudi Arabia mmWave Sensors and Modules Market By Application
11.5.2.7 Qatar
11.5.2.7.1 Qatar mmWave Sensors and Modules Market By Frequency Band
11.5.2.7.2 Qatar mmWave Sensors and Modules Market By Application
11.5.2.8 Rest of Middle East
11.5.2.8.1 Rest of Middle East mmWave Sensors and Modules Market By Frequency Band
11.5.2.8.2 Rest of Middle East mmWave Sensors and Modules Market By Application
11.5.3 Africa
11.5.3.1 Africa mmWave Sensors and Modules Market by Country
11.5.3.2 Africa mmWave Sensors and Modules Market By Frequency Band
11.5.3.3 Africa mmWave Sensors and Modules Market By Application
11.6 Latin America
11.6.1 Trend Analysis
11.6.2 Latin America mmWave Sensors and Modules Market by Country
11.6.3 Latin America mmWave Sensors and Modules Market By Frequency Band
11.6.4 Latin America mmWave Sensors and Modules Market By Application
11.6.5 Brazil
11.6.5.1 Brazil mmWave Sensors and Modules Market By Frequency Band
11.6.5.2 Brazil mmWave Sensors and Modules Market By Application
11.6.6 Argentina
11.6.6.1 Argentina mmWave Sensors and Modules Market By Frequency Band
11.6.6.2 Argentina mmWave Sensors and Modules Market By Application
11.6.7 Colombia
11.6.7.1 Colombia mmWave Sensors and Modules Market By Frequency Band
11.6.7.2 Colombia mmWave Sensors and Modules Market By Application
11.6.8 Rest of Latin America
11.6.8.1 Rest of Latin America mmWave Sensors and Modules Market By Frequency Band
11.6.8.2 Rest of Latin America mmWave Sensors and Modules Market By Application
12. Company Profiles
12.1 Aviat Networks
12.1.1 Company Overview
12.1.2 Financial
12.1.3 Products/ Services Offered
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 E-band Communications
12.2.1 Company Overview
12.2.2 Financial
12.2.3 Products/ Services Offered
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 Farran Technology
12.3.1 Company Overview
12.3.2 Financial
12.3.3 Products/ Services Offered
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 Lightpointe Communications
12.4.1 Company Overview
12.4.2 Financial
12.4.3 Products/ Services Offered
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 NEC Corporation
12.5.1 Company Overview
12.5.2 Financial
12.5.3 Products/ Services Offered
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 Siklu Communication
12.6.1 Company Overview
12.6.2 Financial
12.6.3 Products/ Services Offered
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 Bridgewave Communications
12.7.1 Company Overview
12.7.2 Financial
12.7.3 Products/ Services Offered
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Keysight Technologies
12.8.1 Company Overview
12.8.2 Financial
12.8.3 Products/ Services Offered
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Millitech
12.9.1 Company Overview
12.9.2 Financial
12.9.3 Products/ Services Offered
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 Trex Enterprises Corporation
12.10.1 Company Overview
12.10.2 Financial
12.10.3 Products/ Services Offered
12.10.4 SWOT Analysis
12.10.5 The SNS View
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. USE Cases And Best Practices
15. Conclusion
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