Microwave Devices Global Market Report 2024

Microwave devices are instruments capable of generating, modifying, amplifying, detecting, and measuring microwave frequencies. Microwaves technology, often known as line-of-sight wireless communication technology, utilizes high-frequency radio waves to establish high-speed wireless connections.

The main types of microwave devices can be categorized as active and passive. In the Active Microwave Components domain, semiconductor technologies and components are employed for processes like amplification, mixing, switching, and the generation of microwave radio signals. These signals typically operate within frequencies ranging from 300 MHz (wavelength 1m) to 300 GHz (wavelength 1mm). Various frequency bands are involved, including Ku band, Ka-band, S-band, C band, X band, and L band. Microwave devices are utilized across diverse sectors, including space and communication, defense, commercial applications, and others.

The microwave devices market research report is one of a series of new reports that provides microwave devices market statistics, including microwave devices industry global market size, regional shares, competitors with a microwave devices market share, detailed microwave devices market segments, market trends and opportunities, and any further data you may need to thrive in the microwave devices industry. This microwave devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The microwave devices market size has grown strongly in recent years. It will grow from $7.06 billion in 2023 to $7.6 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth observed in the historical period can be attributed to several factors, including the utilization of microwave devices in military applications, satellite communications, wireless networks, microwave ovens, and radar systems. These applications have contributed to the historical development and adoption of microwave technology in various sectors.

The microwave devices market size is expected to see strong growth in the next few years. It will grow to $10.36 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The anticipated growth in the forecast period can be attributed to several factors, including the increasing use of microwave devices in medical imaging, the development of telecommunication infrastructure, the integration of microwave technology in consumer electronics, space exploration initiatives, scientific research applications, and energy harvesting projects. Key trends expected in the forecast period encompass the expansion of microwave devices in biomedical applications, their role in sustainable agriculture practices, contributions to the development of smart grids, advancements in 5G technology, and the exploration of microwave applications in quantum computing.

The substantial increase in military and defense spending is a significant driver of growth in the microwave devices market. The military and defense sectors, responsible for a country's security and defense, heavily rely on microwave devices for secure and reliable operations, including intensive signal processing, data security, and efficient information transmission in critical environments. The ongoing focus and investment by the military in advanced devices contribute to the expansion of the microwave devices market. Notably, the Stockholm International Peace Research Institute reported a 3.7% increase in global military spending in 2022, reaching $2240 billion in real terms, highlighting the driving force of rising military and defense expenditures in the microwave devices market.

The growing demand for automobiles is expected to be a significant factor propelling the future growth of the microwave device market. Microwave devices play a crucial role in the automotive industry, particularly in autonomous vehicles (self-driving cars), where they are used to create detailed 3D maps for navigation and object detection. With global automobile production reaching 85.4 million units in 2022, representing a substantial 5.7% increase from the previous year, and unit sales in the automobile sector achieving approximately 78 million in 2022, indicating a remarkable 10% growth, the increasing demand for automobiles is a key driver of the microwave device market.

Innovation in product development emerges as a prominent trend shaping the microwave devices market. Market players are actively introducing advanced products with innovative features to drive market growth. For instance, NEC India launched iPASOLINK EX Advanced Dual in September 2021, a wireless microwave radio system supporting 70-80 GHz E-band communications. This integrated and ultra-compact microwave radio system operates on advanced LTE and 5G services, reflecting the trend of technological innovation in the microwave devices market.

Major companies in the microwave device market are directing their efforts toward innovating products with cutting-edge technology, as exemplified by the iWave. iWave serves as a microwave device for non-surgical body contouring treatments, offering a safe and effective solution. Promoitalia introduced iWave in October 2022, utilizing microwave RD radial microwaves and cold HP oxygen technologies to provide non-invasive fat melting, cellulite treatment, and tissue toning. Equipped with a built-in iWave sensor, the device ensures safe and precise treatments.

In August 2021, Knowles Precision Devices expanded its aerospace and defense market portfolio by acquiring Integrated Microwave Corporation (IMC), a move aimed at offering a broader range of microwave filtering solutions and radio frequency (RF) support for the Ka-band. Integrated Microwave Corporation, known for designing and manufacturing microwave filters, particularly in the aerospace, test equipment, defense, and communications industry, complements Knowles Precision Devices' strategic growth initiatives in the microwave devices market.

Major companies operating in the microwave devices market include L3 Technologies Inc., API Technologies Corp., Thales Group, Electron Energy Corporation, CableFree, Teledyne UK Limited, Toshiba Corporation, CPI International Inc., Cytec Corporation, TMD Technologies Ltd., Richardson Electronics Ltd., Microsemi Corporation, Qorvo Inc., Texas Instruments Inc., Communications & Power Industries LLC, NXP Semiconductors N.V., MACOM Technology Solutions Inc., Analog Devices Inc., Fujitsu Limited, Hitachi Ltd., Infineon Technologies AG, Kyocera Corporation, LG Electronics Inc., Mitsubishi Electric Corporation, Murata Manufacturing Co. Ltd., NEC Corporation, Panasonic Corporation, Samsung Electronics Co. Ltd., Sharp Corporation, Skyworks Solutions Inc., Sony Corporation

North America was the largest region in the microwave devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the microwave devices market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the microwave devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The microwave devices market consists of sales of relays and coaxial switches-based microwave devices. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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