PUNE, India, Jan. 04, 2021 (GLOBE NEWSWIRE) --
The Millimeter Wave Sensor & Modules Market - Global Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.
The Global Millimeter Wave Sensor & Modules market was worth US$ 250 million in 2019 and is expected to cross the billion market by 2030. Millimeter wave or extremely high frequency (EHF) refers to band of radio frequency well suited for 5G networks. The demand for millimeter wave sensor & module is increasing rapidly owing to the growing need for high speed and bandwidth requirements from commercial and residential applications. The millimeter wave technology is extensively used for radar and security applications across military and defense industry. Additionally, increased adoption of millimeter wave technology in small cell backhaul networks is contributing towards the growth of the global millimeter wave sensor & module market. Growth of bandwidth intensive applications and expansion of IT & telecommunication infrastructure across the globe is anticipated to drive the growth of the global millimeter wave sensor & module market during the forecast period.
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Strong penetration across telecommunication applications to drive growth of E-band based millimeter wave sensors & modules
The global millimeter wave sensor & module market is segmented on the basis of frequency band, end use industry, and geography. Based on frequency band, the global millimeter wave sensor & module market is segmented into V-band, E-band, and others. The E-band segment contributed the largest share to the global market in 2019 and is expected to be a dominating segment throughout the forecast period owing to strong demand from telecommunication equipment. Increased investment in expansion of telecommunication infrastructure is anticipated to contribute towards the growth of the E-band based millimeter wave sensor & module market during the forecast period. The V-band millimeter wave sensor & modules are extensively used across military communication and satellite communications and are anticipated to grow significantly during the forecast period.
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Increased investment in IT & telecommunication infrastructure and rising demand for high speed data transfer & communication to drive the growth of market
Based on end use industry, the global millimeter wave sensor & module market is segmented into IT & telecommunication, aerospace & defense, automotive & transportation, healthcare, semiconductor & electronics, energy & utility, and others. The IT & telecommunication segment held the largest share of the global millimeter wave sensor & module market in 2019 owing to increased demand for high speed communication and data transfer across the globe. Increasing investment in IT & telecommunication infrastructure across the globe is anticipated to contribute towards the growth of global millimeter wave sensor & module market during the forecast period.
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Based on geography, the global millimeter wave sensor & module market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America held the largest share of the global millimeter wave sensor & module market in terms of revenue and volume in 2019 owing to early adoption of millimeter wave technology across the United States and Canada. Increased investment in research & development of millimeter wave technology in the United States is anticipated to drive the growth of North America millimeter wave sensor & module market during the forecast period. Asia Pacific is anticipated to be the fastest growing segment during the forecast period owing to expanding telecommunication industry and rising adoption of millimeter wave technology across the leading countries.
Major players active in the global millimeter wave sensor & module market include Aviat Networks, Inc., Bridgewave Communications, Inc., E-band Communications LLC, Farran Technology Ltd., Keysight Technologies, Inc., Lightpointe Communications, Inc., Millitech, Inc., NEC Corporation, QuinStar Technology, Inc., Sage Millimeter, Inc., Siklu Communication Ltd., and Trex Enterprises Corporation.
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