Global Millimeter Wave Sensors & Modules Market Size, Trends & Analysis - Forecasts To 2026 By Frequency Band (V-Band, E-Band, Others), By Application (Automotive & Transport, Military & Defense, Electronics & Semiconductor, Telecommunications, Healthcare, Security), By Region (North America, Europe, Asia Pacific, MEA, CSA); Vendor Landscape, End User Landscape and Company Market Share Analysis & Competitor Analysis
Millimeter Wave Sensors & Modules Market: Insights
The global millimeter wave sensors & modules market is estimated to witness a significant CAGR during the forecast period (2020-2026). Growing demand for bandwidth-intensive applications, along with rising demand for high-speed data transfer and communication arising from the residential and commercial sector are some of the major factors expected to drive the market growth during the forecast period. Millimeter waveband is the subset of microwave (radio wave spectrum band) which operates in the broad category of wireless data transmission. Millimeter-wave radios require very small antennas, measured in inches as compared to Wi-Fi and other wireless connectivity technologies. The increasing research and development activities in the millimeter-wave technology and constantly increasing demand for bandwidth-intensive applications drive the robust growth of the market. Moreover, consumer electronic products such as smart-phones and wearable electronics, data-intensive services, media exchange over the internet, and high-speed online gaming also boosts the growth of the market. However, adverse environmental conditions like fog, rain, snow and dust, lower frequency, and high-speed communications are some of the factors restraining the growth of the market.
Millimeter Wave Sensors & Modules Market Size: By Frequency Band
Based on the frequency band, the market is bifurcated into V-band and E-band. E-band segment is expected to hold the largest market share during the forecast period due to the increasing application across the telecommunication equipment market. The v-band segment is estimated to witness the fastest growth pace during the forecast period. The provision of the largest amount of contiguous spectrum, offering an opportunity for 5G deployment drives the substantial growth of the market. These bands are widely used in military and defense applications. Moreover, the V-band frequencies are extensively used in radar and satellite communications.
Millimeter Wave Sensors & Modules Market Size: By Application
Based on the application, the market is segmented into telecommunications, military & defense, automotive & transport, healthcare, electronics & semiconductor, and security. The telecommunications segment is expected to hold the largest market share during the forecast period due to the growing demand for high-speed data transfer and communication arising from the residential and commercial sectors, such as data centers and IT offices. The military and defense segment is projected to grow at a high CAGR during the forecast period due to the growing adoption of MMW modules and sensors in various military and defense applications. Furthermore, the growing adoption of the MMW scanners on account of the global terrorism issue is expected to propel the growth of the MM wave technology across the security application segment.
Millimeter Wave Sensors & Modules Market Size: By Region
Based on region, the global millimeter wave sensors & modules market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. North America is anticipated to dominate the largest market share during the forecast period. Increasing high investments in the defense sector due to the growing millimeter wave technology market drives the growth of the market. Furthermore, increasing adoption of millimeter-wave sensors and radar modules to facilitate secure communication also augments the growth of the market. Furthermore, Asia Pacific is expected to grow at a high CAGR during the forecast period. The growing prevalence of technology such as bandwidth-intensive applications by the IT & telecommunication sector due to the developments and up-gradation in its telecom infrastructures drives the growth of the market. Furthermore, the installation of new telecom equipment based on the MM wave technology is expected to propel the market growth.
Millimeter Wave Sensors & Modules Market Share & Competitor Analysis
Some of the key players operating in the millimeter wave sensors & modules market include: Aviat Networks, Inc., Sage Millimeter, Inc., Bridgewave Communications, Inc., Farran Technology Ltd., Keysight Technologies, Inc., Siklu Communication Ltd., E-band Communications LLC, Millitech, Inc., NEC Corporation, QuinStar Technology, Inc., Lightpointe Communications, Inc., and Trex Enterprises Corporation, among others.
Please note: This is not an exhaustive list of companies profiled in the report.
Millimeter Wave Sensors & Modules Market: By Frequency Band
Millimeter Wave Sensors & Modules Market: By Application
Millimeter Wave Sensors & Modules Market: By Region
The global Millimeter Wave Sensors & Modules Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Millimeter Wave Sensors & Modules Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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