Market Overview
The global mmWave sensors and modules market is expected to exhibit a robust 33.2% CAGR over the forecast period from 2019 to 2025, according to the latest research report from Market Research Future (MRFR). The global mmwave sensors and modules market trends was valued at USD 73 million in 2018 and is expected to rise to a valuation of USD 532.9 million by 2025, according to the report. The report presents a detailed evaluation of the global mmWave sensors and modules market to provide readers a comprehensive overview of the market. The historical growth trajectory exhibited by the global mmWave sensors and modules market is examined in detail in the report in order to derive useful pointers as to the trends on display in the market. The present condition of the global mmWave sensors and modules market is examined in detail in the report. Major drivers and restraints affecting the global mmwave sensors and modules market trends are examined in detail in the report, giving readers a clear overview of the major motivators of the market. Major players operating in the global mmWave sensors and modules market are also profiled in the report. The impact of the COVID-19 pandemic on the global mmWave sensors and modules market is also assessed in the report.
Millimeter waveband is the subset of microwave (radio wave spectrum band) that 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 current scope of the millimeter wave technology market covers sensors and modules used in radar communication systems, satellite communication systems, and telecommunication equipment. mmWave sensors and modules are also used in virtual reality devices to provide HD audio and video transmission. Due to the need for small-sized components, mmWave can be used in mobile devices to enable highly secure transmission of data. The rising demand for high-speed data in mobile phones and mobile broadband, high-definition gaming, high-definition multimedia, and over-the-top (OTT) services are expected to drive the mmWave sensor and modules market in the forecast period.
mmWave sensors and modules can also function in low visibility and extreme weather conditions such as smoke, fog, rain, and thunderstorm with minimal noise. In most of the applications, mmWave sensors and modules perform better than microwave- or infrared-based sensor technologies. The adoption of mmWave sensors and modules in the field of automotive radar applications is rapidly increasing in automotive long-range radar (LRR), advanced avionics navigation systems, and instrument landing systems (ILS). Panasonic Corporation has developed wide-angle scanning and high-precision millimeter-wave radar technology which uses high-frequency radio waves. This technology can detect objects within the range of 40 meters in only 0.1 seconds. Such innovations are likely to be a major driver for the global mmWave sensors and modules market over the forecast period.
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Segmentation:
The global mmWave sensors and modules market is segmented on the basis of frequency band, application, and region.
By frequency band, the global mmWave sensors and modules market is segmented into 30-57 GHz, 57-96 GHz, and 96-300 GHz.
By application, the global mmWave sensors and modules market is segmented into IT and telecom, automotive and aerospace, healthcare, consumer and commercial, government and defense, and transportation.
Regional Analysis:
On the basis of geography, the market is studied for North America, Europe, Asia-Pacific, Middle East & Africa, and Central & South America. Among the regions mentioned above, North America is expected to dominate the market throughout the forecast period. The US and Canada are the major companies that primarily contribute to mmWave sensors and modules market. These countries have deployed mmWave technology-enabled full-body scanners at several entry points of the country owing to their high rate of accuracy as compared to X-ray scanners. Major players operating in the region include Texas Instruments, E-Band Communications LLC, L3 Technologies Inc, and Keysight Technologies among others. The US is also the first country to use mmWave in the form of E-band frequencies for commercial purposes. The market growth in Europe is mainly attributed to advancement in the telecommunication industry, and the collaboration of major players with small start-ups for the extensive deployment of mmWave technology.
Asia-Pacific is expected to show the highest CAGR during the forecast period. This is largely due to the high demand for bandwidth-intensive applications by the IT & telecommunication sector across the region. Also, the region has witnessed a rise in the number of government approval trials of mmWave bands using millimeter wave technology that further boosts advancements of mmWave sensors and modules market. Fujitsu and NEC Corporation are the major players operating in the market, heavily investing in the development of mmWave technology.
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Competitive Leaderboard:
Leading players in the global mmWave sensors and modules market include Infineon Technologies AG, Pulsar Process Management Ltd., Novelic LLC, MediaTek Inc., Virginia Diodes, Radio Gigabit Inc., Keysight Technologies, Qualcomm Inc., Mistral Solutions Pvt. Ltd., and Texas Instruments.
In March 2019, The Smiths Detection business division added two scanners compliant with ECAC standard 3.1 for its CTX 9800 DSi baggage explosives detection system. It will provide additional flexibility and productivity while maintaining the highest level of security.
In January 2019, Vubiq developed a hardware/software millimeter-wave hyper imaging system. This system is able to code and decode chipless radio frequency identification (RFID) tags with a higher order of magnitude as compared to the existing solutions.
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