Pune, Oct. 02, 2024 (GLOBE NEWSWIRE) -- Market Size and Growth Analysis:
The mmWave Sensors and Modules Market was valued at USD 0.25 Billion in 2023 and is expected to reach USD 2.40 Billion by 2032, growing at a remarkable CAGR of 28.59% over the forecast period from 2024 to 2032.
The market for mmWave sensors and modules is rapidly growing owing to advances in technology and increased demand for speedy systems for communication. The reason for mmWave sensors and modules’ active participation in modern-day communication networks is their ability to rapidly transmit and receive data with little impedance or less delay. As such, by the close of 2023, the adoption of 5G is surging to amazing heights across the world, reaching over 1.5 billion connections, hence, marking it as mobile technology with the fastest rate of growth. There is a projection that this number can as much as increase fivefold by the end of 2028, as they reach 5 billion subscriptions and make up about 55% of the world’s total subscriptions. The most noticeable rise is in North America and Northeast which is as high as around 35% as at 2023. The advent of 5G is expected to have a massive impact on the global economy, where it is estimated to add around USD 1 trillion by 2030 by introducing new uses across various industries. As of now, over 230 telecommunication companies across the globe have adopted the use of 5G and there are over 700 models of 5G smartphones for sale.
Get a Sample Report of mmWave Sensors and Modules Market Forecast @ https://www.snsinsider.com/sample-request/2594
Leading Market Players Listed in this Research Report are:
- Aviat Networks (E-band radios, Microwave backhaul solutions)
- E-band Communications (E-band radio, E-band microwave backhaul)
- Farran Technology (Farran 100-300 GHz Frequency Synthesizers, Farran 90 GHz High Power Amplifiers)
- Lightpointe Communications (LightPointe Aire X2, LightPointe 60 GHz FastBridge)
- NEC Corporation (NEC mmWave radios, NEC microwave transmission solutions)
- Siklu Communication (EtherHaul 1200 Series, EtherHaul 600 Series)
- Bridgewave Communications (Bridgewave FlexPort, Bridgewave 80 GHz radios)
- Keysight Technologies (Keysight E7500A, Keysight M8195A)
- Millitech (Millitech 75 GHz Frequency Multiplier, Millitech Low Noise Amplifiers)
- Trex Enterprises Corporation (Trex 100 GHz mmWave Sensors, Trex High Frequency Radar Systems)
- Qorvo (Qorvo RF Solutions, Qorvo mmWave Radar Sensors)
- Analog Devices (ADMV1014 mmWave Upconverter, ADMV1003 mmWave Downconverter)
- NXP Semiconductors (NXP RF Power Amplifiers, NXP mmWave Transceivers)
- Raytheon Technologies (Raytheon X-band Radar, Raytheon mmWave Sensors)
- Texas Instruments (TI AWR1642 mmWave Sensor, TI mmWave Radar Development Kits)
- Infineon Technologies (Infineon mmWave Radar Sensors, Infineon RF Transmitters)
- L3Harris Technologies (L3Harris mmWave Radar Systems, L3Harris Communication Modules)
- Samsung Electronics (Samsung mmWave Radios, Samsung 5G mmWave Solutions)
- STMicroelectronics (ST 24 GHz Radar Sensor, ST RF Amplifiers)
- Chalmers University of Technology (Chalmers 60 GHz Research Modules, Chalmers mmWave Communication Systems)
"Comprehensive Segment Breakdown Highlights Emerging Opportunities in the Market"
By Frequency Band: The 57GHz-96GHz frequency range dominated the mmWave sensors and modules market in 2023 with a 52% market share. The reason for the range’s influence is that it is a perfect combination of distance covered and data bandwidth, which allows for accurate and reliable applications. This range of frequency is widely used in the telecommunication department, particularly in the backhaul connections for the 5G network and advanced imaging technologies. Primary players such as Qualcomm have made use of the frequency band to power their wireless strategies to guarantee excellent phones and network connections.
By Applications: In 2023, the telecommunications sector held the highest revenue share of 41% and led the mmWave sensors and modules market. The reason for the continued dominance is the increasing appetite for swift data and implementation of 5G networks. Using the mmWave sensors and modules technology, the application is used in units such as antennas, backhaul connections, and base station infrastructures. In a massive show of faith, large telecommunication firms such as Verizon and AT $T are investing heavily in mmWave sensors and modules to improve network performance and enlarge the coverage.
Do you Have any Specific Queries or Need any Customize Research on mmWave Sensors and Modules Market, Request for Analyst Call @ https://www.snsinsider.com/request-analyst/2594
"Navigating Regional Variations: Key Drivers and Challenges in Market Expansion"
North America dominated the market with a major share of 51% in 2023 by holding the leading position. The dominance is attributed to the presence of advanced technology firms, heavy investment in research and development, and a high need for top-tier sensors for various applications. Moreover, the emphasis of the United States on advanced automotive technologies, such as autonomous cars and smart transportation systems, has pushed the market expansion at a rapid pace. The industry leaders namely Texas Instruments, Analog Devices, and Qualcomm have been actively innovating and deploying advanced mmWave solutions in segments like automotive, telecommunications, and industrial automation.
Asia Pacific is to emerge as the fastest-growing region in the market during 2024-2032. The rapid industrialization, urbanization, and booming consumer electronics sectors in countries like China, Japan, and South Korea are contributing heavily to the growth of the mmwave sensors and modules market. Moreover, the nations are making substantial investments in the 5G technology with its supportive infrastructure, thereby fostering the technology application. The growing need for high-speed data transmission and innovative car features are contributing to the rising adoption of mmWave.
Recent Developments
- In April 2024, TechCorp announced the launch of its latest mmWave sensor module for automotive applications which allows improving safety features in autonomous vehicles.
- In July 2024, Global Communications entered a partnership with regional telecom operators expanding the use of mmWave in downtown areas that would help deploy 5G across busy sections of cities.
- In September 2024, MedTech Innovations developed a new mmWave sensor for healthcare applications being able to continuously monitor and record medical data, such as all vital signs in a non-invasive manner.
Purchase Single User License of mmWave Sensors and Modules Market Report at USD 3350 (33% Discount) @ https://www.snsinsider.com/checkout/2594
Future Trends for the mmWave Sensors and Modules Market:
| Trend | Description |
| Integration with AI | Increased integration of AI with mmWave technology for enhanced data processing and decision-making capabilities. |
| Growth in Automotive Applications | Expanding use of mmWave sensors in automotive safety and autonomous driving features. |
| Rise of Smart Cities | Implementation of mmWave technology in smart city infrastructure for improved connectivity and efficiency. |
| Healthcare Innovations | Development of mmWave solutions for advanced healthcare monitoring and diagnostic applications. |
| Telecommunications Advancements | Ongoing improvements in telecommunications infrastructure, particularly with 5G and beyond. |
The mmWave Sensors and Modules Market is on a trajectory of rapid growth, driven by the demand for high-speed connectivity across various sectors. With continued advancements in technology and increased investments, the market is poised to become a critical component of future innovations in telecommunications, automotive, healthcare, and beyond.
Table of Contents - Key Points Analysis
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Trends and Adoption Rates (2023)
5.2 Sales Volume and Revenue Analysis, (2023), by Region
5.3 Sales Volume and Revenue Analysis, by Region (2020-2032)
5.4 Supply Chain Dynamics, 2023
6. Competitive Landscape
7. mmWave Sensors and Modules Market Segmentation, by Frequency Band
8. mmWave Sensors and Modules Market Segmentation, by Application
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
Access Complete Report Insights of mmWave Sensors and Modules Market Growth & Outlook 2024-2032@ https://www.snsinsider.com/reports/mmwave-sensors-and-modules-market-2594
[For more information or need any customization research mail us at info@snsinsider.com]
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
