The mmWave sensors and modules market perceives rapid traction. With the increasing emphasis on improving networking speeds, the market is projected to rise constantly. Market Research Future (MRFR) states that the global mmWave sensors and modules market is expected to escalate from USD 0.15 BN in 2022 to USD 1.9 BN by 2032, registering a 33.10% CAGR throughout the forecast period (2023-2032).
Major Players
Leading mmWave sensors & modules market players include
- Mistral Solutions Pvt.Ltd.
- Texas Instruments
- Qualcomm Inc.
- Rdio Gigabit Inc.
- Keysight Technologies
- Virginia Diodes
- NOVELIC LLC
- Media Tek Inc.
- Pulsar Process Management Ltd.
- Infineon Technologies AG, among others.
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Besides, the significant rise in high-speed connectivity demand and smartphone users would substantiate the market value. Rising automation across industries is estimated to foster market demand, increasing the use of IoT and smart connected devices. Moreover, the rise in end-user industries, such as IT & telecommunication, automotive & aerospace, healthcare, and defense, would influence the market value.
Rapid advancements in navigation and vision technologies and regulatory changes also influence market growth. The rise in demand for better & high definition displays and the need for better situational awareness boost market growth. Rising numbers of OEMs and technological advances increase the market size, improving the accessibility and availability of enhanced telecom systems.
MmWave Sensors and Modules Market – Segments
The market report is segmented into frequency bands, applications, and regions. The frequency band segment is sub-segmented into bands between 30 GHz and 57 GHz, bands between 57 GHz and 96 GHz, and bands between 96 GHz and 300 GHz. The application segment is sub-segmented into IT & telecommunication, automotive & aerospace, healthcare, consumer & commercial, government & defense, and transportation. By region, the mmWave sensors & modules market is segmented into the Americas, Asia-Pacific, Europe, and the rest of the world.
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MmWave Sensors and Modules Market – Geographical Analysis
North America dominates the global mmWave sensors and modules market, with the growing demand for radar and security applications. Besides, the market share is propelled by the larger acceptance of technology and the increasing focus on improving mobile data traffic with bandwidth-intensive applications. Significant R&D investments by industry players for the development and advancements in technologies drive the regional market’s growth.
Global MM Wave Technology Market – Competitive Analysis
Highly competitive, the mmWave sensors and modules market appears fragmented due to several well-established players. Industry players incorporate strategic approaches such as mergers & acquisitions, collaborations, expansion, and product/technology launches to gain a larger competitive share.
Industry/ Innovation/ Related News
Jun. 16, 2023 — The Ministry of Electronics and Information Technology (MeitY) introduced an expression of interest (EoI) for intelligent transportation system technologies, including the Onboard Driver Assistance and Warning System (ODAWS). The ODAWS integrates sub-modules such as the navigational unit, drive assistance console, and mmWave radar sensor. The purpose of the ODAWS tool is similar to any advanced driver assist system (ADAS), such as actively examining the vehicle’s immediate surroundings & sound alerts and minimizing the chance of road accidents.
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