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 Share 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 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 mmWave Sensors and Modules Market Share 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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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.

Key Players

The Key Players in the mmWave Sensors and Modules Market are identified across all the major regions based on their country of origin, presence, recent key developments, product diversification, and industry expertise. Some of them are Texas Instruments, Mistral Solutions Pvt Ltd, Qualcomm Inc, Keysight Technologies, Radio Gigabit Inc, Virginia Diodes, MediaTek Inc, NOVELIC LLC, Pulsar Process Management Ltd, and Infineon Technologies AG. among others. These players contribute significantly to market growth. Apart from the top key players, the other players contribute nearly 30–40% in the mmWave sensor and modules market.

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