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Millimeter Wave Sensors and Modules Market Size, Share & Trends Analysis Report By Frequency Band, By Application, By Regional Outlook and Forecast, 2024 - 2031

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    Report

  • 229 Pages
  • December 2024
  • Region: Global
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 6036044
The Global Millimeter Wave Sensors and Modules Market size is expected to reach $677.49 Million by 2031, rising at a market growth of 29.8% CAGR during the forecast period.

The Asia Pacific segment garnered 36% revenue share in the market in 2023. Countries such as China, Japan, South Korea, and India have invested heavily in 5G infrastructure, creating significant demand for mmWave technology in telecommunications. Additionally, the region’s growing consumer electronics market, expanding automotive industry, and increasing adoption of smart city projects further contribute to its leading revenue share.



Millimeter wave (mmWave) technology is a transformative solution, offering ultra-high bandwidth that facilitates fast data transfer rates and minimizes latency. These characteristics are crucial for modern applications that rely on seamless and uninterrupted communication, such as video streaming, online gaming, and cloud computing. The unparalleled speed and efficiency of mmWave technology are reshaping how data is transmitted and consumed. Hence, these factors will drive the expansion of the market.

Additionally, Continuous research and development (R&D) efforts have driven significant improvements in the cost efficiency, reliability, and miniaturization of mmWave sensors and modules. These breakthroughs have transformed mmWave technology from a niche, high-cost solution to a versatile and accessible tool for mainstream applications. One of the most notable advancements is the miniaturization of mmWave sensors, enabling their integration into compact devices without compromising performance. Thus, technological advancements have positioned mmWave sensors and modules as a key enabler of innovation across multiple domains.

However, The deployment and development of millimeter wave (mmWave) sensors and modules face significant financial challenges due to the high costs associated with the entire lifecycle of these technologies. Research and development (R&D) activities in this field demand substantial investment as they involve exploring advanced frequency technologies, designing innovative systems, and ensuring precision in operations. Hence, the cumulative effect of these factors - expensive R&D, complex manufacturing processes, and the need for specialized expertise - results in high implementation costs.



The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.

Driving and Restraining Factors

Drivers
  • Increased Demand For High-Speed Wireless Communication
  • Rapid Advancements In Millimeter Wave Technology
  • Rise Of Smart Cities Around The Globe
Restraints
  • High Costs Of Implementation
  • Complexity In Manufacturing Of Mmwave Sensors And Modules
Opportunities
  • Expanding Role In 6G Technology
  • Regulatory Support And Spectrum Availability
Challenges
  • Competition From Alternative Technologies
  • Stringent Regulations And Licensing Requirements

Frequency Band Outlook

Based on frequency band, the market is classified into V-band, E-band, and others. The V-band segment garnered 25% revenue share in the market in 2023. The V-band segment is driven by its ability to support large bandwidths, making it ideal for high-speed wireless communication applications such as 5G networks, fixed wireless access, and enterprise networking. Its unlicensed spectrum availability in several regions facilitates widespread adoption by reducing regulatory hurdles and operational costs.



Application Outlook

On the basis of application, the market is divided into telecommunications, security, military & defense, automotive & transport, electronics & semiconductor, and others. The security segment recorded 18% revenue share in the market in 2023. The growing need for advanced surveillance and screening technologies in public and private spaces propels the security segment. mmWave sensors offer unparalleled capabilities for detecting concealed objects and providing detailed imaging, making them indispensable for airport security, public transportation hubs, and perimeter surveillance.

Regional Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe segment procured 28% revenue share in the market in 2023. The region’s focus on developing autonomous vehicles and advanced driver assistance systems (ADAS) has driven the adoption of mmWave sensors for precise object detection and navigation. Furthermore, increasing investments in defense technologies and the growing need for high-performance telecommunications infrastructure have bolstered the market.

List of Key Companies Profiled

  • Texas Instruments, Inc.
  • NEC Corporation
  • Keysight Technologies, Inc.
  • Qualcomm Incorporated (Qualcomm Technologies, Inc.)
  • MediaTek, Inc.
  • Infineon Technologies AG
  • Smiths Group PLC
  • Eravant, Inc.
  • Mistral Solutions Pvt. Ltd. (Axicades Technologies)
  • QuinStar Technology, Inc.

Market Report Segmentation

By Frequency Band
  • E-Band
  • V-Band
  • Other Frequency Band
By Application
  • Telecommunications
  • Security
  • Military & Defense
  • Automotive & Transport
  • Electronics & Semiconductor
  • Other Application
By Geography
  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Millimeter Wave Sensors and Modules Market, by Frequency Band
1.4.2 Global Millimeter Wave Sensors and Modules Market, by Application
1.4.3 Global Millimeter Wave Sensors and Modules Market, by Geography
1.5 Methodology for the Research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
Chapter 4. Competition Analysis - Global
4.1 Market Share Analysis, 2023
4.2 Porter Five Forces Analysis
Chapter 5. Global Millimeter Wave Sensors and Modules Market by Frequency Band
5.1 Global E-Band Market by Region
5.2 Global V-Band Market by Region
5.3 Global Other Frequency Band Market by Region
Chapter 6. Global Millimeter Wave Sensors and Modules Market by Application
6.1 Global Telecommunications Market by Region
6.2 Global Security Market by Region
6.3 Global Military & Defense Market by Region
6.4 Global Automotive & Transport Market by Region
6.5 Global Electronics & Semiconductor Market by Region
6.6 Global Other Application Market by Region
Chapter 7. Global Millimeter Wave Sensors and Modules Market by Region
7.1 North America Millimeter Wave Sensors and Modules Market
7.1.1 North America Millimeter Wave Sensors and Modules Market by Frequency Band
7.1.1.1 North America E-Band Market by Country
7.1.1.2 North America V-Band Market by Country
7.1.1.3 North America Other Frequency Band Market by Country
7.1.2 North America Millimeter Wave Sensors and Modules Market by Application
7.1.2.1 North America Telecommunications Market by Country
7.1.2.2 North America Security Market by Country
7.1.2.3 North America Military & Defense Market by Country
7.1.2.4 North America Automotive & Transport Market by Country
7.1.2.5 North America Electronics & Semiconductor Market by Country
7.1.2.6 North America Other Application Market by Country
7.1.3 North America Millimeter Wave Sensors and Modules Market by Country
7.1.3.1 US Millimeter Wave Sensors and Modules Market
7.1.3.1.1 US Millimeter Wave Sensors and Modules Market by Frequency Band
7.1.3.1.2 US Millimeter Wave Sensors and Modules Market by Application
7.1.3.2 Canada Millimeter Wave Sensors and Modules Market
7.1.3.2.1 Canada Millimeter Wave Sensors and Modules Market by Frequency Band
7.1.3.2.2 Canada Millimeter Wave Sensors and Modules Market by Application
7.1.3.3 Mexico Millimeter Wave Sensors and Modules Market
7.1.3.3.1 Mexico Millimeter Wave Sensors and Modules Market by Frequency Band
7.1.3.3.2 Mexico Millimeter Wave Sensors and Modules Market by Application
7.1.3.4 Rest of North America Millimeter Wave Sensors and Modules Market
7.1.3.4.1 Rest of North America Millimeter Wave Sensors and Modules Market by Frequency Band
7.1.3.4.2 Rest of North America Millimeter Wave Sensors and Modules Market by Application
7.2 Europe Millimeter Wave Sensors and Modules Market
7.2.1 Europe Millimeter Wave Sensors and Modules Market by Frequency Band
7.2.1.1 Europe E-Band Market by Country
7.2.1.2 Europe V-Band Market by Country
7.2.1.3 Europe Other Frequency Band Market by Country
7.2.2 Europe Millimeter Wave Sensors and Modules Market by Application
7.2.2.1 Europe Telecommunications Market by Country
7.2.2.2 Europe Security Market by Country
7.2.2.3 Europe Military & Defense Market by Country
7.2.2.4 Europe Automotive & Transport Market by Country
7.2.2.5 Europe Electronics & Semiconductor Market by Country
7.2.2.6 Europe Other Application Market by Country
7.2.3 Europe Millimeter Wave Sensors and Modules Market by Country
7.2.3.1 Germany Millimeter Wave Sensors and Modules Market
7.2.3.1.1 Germany Millimeter Wave Sensors and Modules Market by Frequency Band
7.2.3.1.2 Germany Millimeter Wave Sensors and Modules Market by Application
7.2.3.2 UK Millimeter Wave Sensors and Modules Market
7.2.3.2.1 UK Millimeter Wave Sensors and Modules Market by Frequency Band
7.2.3.2.2 UK Millimeter Wave Sensors and Modules Market by Application
7.2.3.3 France Millimeter Wave Sensors and Modules Market
7.2.3.3.1 France Millimeter Wave Sensors and Modules Market by Frequency Band
7.2.3.3.2 France Millimeter Wave Sensors and Modules Market by Application
7.2.3.4 Russia Millimeter Wave Sensors and Modules Market
7.2.3.4.1 Russia Millimeter Wave Sensors and Modules Market by Frequency Band
7.2.3.4.2 Russia Millimeter Wave Sensors and Modules Market by Application
7.2.3.5 Spain Millimeter Wave Sensors and Modules Market
7.2.3.5.1 Spain Millimeter Wave Sensors and Modules Market by Frequency Band
7.2.3.5.2 Spain Millimeter Wave Sensors and Modules Market by Application
7.2.3.6 Italy Millimeter Wave Sensors and Modules Market
7.2.3.6.1 Italy Millimeter Wave Sensors and Modules Market by Frequency Band
7.2.3.6.2 Italy Millimeter Wave Sensors and Modules Market by Application
7.2.3.7 Rest of Europe Millimeter Wave Sensors and Modules Market
7.2.3.7.1 Rest of Europe Millimeter Wave Sensors and Modules Market by Frequency Band
7.2.3.7.2 Rest of Europe Millimeter Wave Sensors and Modules Market by Application
7.3 Asia Pacific Millimeter Wave Sensors and Modules Market
7.3.1 Asia Pacific Millimeter Wave Sensors and Modules Market by Frequency Band
7.3.1.1 Asia Pacific E-Band Market by Country
7.3.1.2 Asia Pacific V-Band Market by Country
7.3.1.3 Asia Pacific Other Frequency Band Market by Country
7.3.2 Asia Pacific Millimeter Wave Sensors and Modules Market by Application
7.3.2.1 Asia Pacific Telecommunications Market by Country
7.3.2.2 Asia Pacific Security Market by Country
7.3.2.3 Asia Pacific Military & Defense Market by Country
7.3.2.4 Asia Pacific Automotive & Transport Market by Country
7.3.2.5 Asia Pacific Electronics & Semiconductor Market by Country
7.3.2.6 Asia Pacific Other Application Market by Country
7.3.3 Asia Pacific Millimeter Wave Sensors and Modules Market by Country
7.3.3.1 China Millimeter Wave Sensors and Modules Market
7.3.3.1.1 China Millimeter Wave Sensors and Modules Market by Frequency Band
7.3.3.1.2 China Millimeter Wave Sensors and Modules Market by Application
7.3.3.2 Japan Millimeter Wave Sensors and Modules Market
7.3.3.2.1 Japan Millimeter Wave Sensors and Modules Market by Frequency Band
7.3.3.2.2 Japan Millimeter Wave Sensors and Modules Market by Application
7.3.3.3 India Millimeter Wave Sensors and Modules Market
7.3.3.3.1 India Millimeter Wave Sensors and Modules Market by Frequency Band
7.3.3.3.2 India Millimeter Wave Sensors and Modules Market by Application
7.3.3.4 South Korea Millimeter Wave Sensors and Modules Market
7.3.3.4.1 South Korea Millimeter Wave Sensors and Modules Market by Frequency Band
7.3.3.4.2 South Korea Millimeter Wave Sensors and Modules Market by Application
7.3.3.5 Singapore Millimeter Wave Sensors and Modules Market
7.3.3.5.1 Singapore Millimeter Wave Sensors and Modules Market by Frequency Band
7.3.3.5.2 Singapore Millimeter Wave Sensors and Modules Market by Application
7.3.3.6 Malaysia Millimeter Wave Sensors and Modules Market
7.3.3.6.1 Malaysia Millimeter Wave Sensors and Modules Market by Frequency Band
7.3.3.6.2 Malaysia Millimeter Wave Sensors and Modules Market by Application
7.3.3.7 Rest of Asia Pacific Millimeter Wave Sensors and Modules Market
7.3.3.7.1 Rest of Asia Pacific Millimeter Wave Sensors and Modules Market by Frequency Band
7.3.3.7.2 Rest of Asia Pacific Millimeter Wave Sensors and Modules Market by Application
7.4 LAMEA Millimeter Wave Sensors and Modules Market
7.4.1 LAMEA Millimeter Wave Sensors and Modules Market by Frequency Band
7.4.1.1 LAMEA E-Band Market by Country
7.4.1.2 LAMEA V-Band Market by Country
7.4.1.3 LAMEA Other Frequency Band Market by Country
7.4.2 LAMEA Millimeter Wave Sensors and Modules Market by Application
7.4.2.1 LAMEA Telecommunications Market by Country
7.4.2.2 LAMEA Security Market by Country
7.4.2.3 LAMEA Military & Defense Market by Country
7.4.2.4 LAMEA Automotive & Transport Market by Country
7.4.2.5 LAMEA Electronics & Semiconductor Market by Country
7.4.2.6 LAMEA Other Application Market by Country
7.4.3 LAMEA Millimeter Wave Sensors and Modules Market by Country
7.4.3.1 Brazil Millimeter Wave Sensors and Modules Market
7.4.3.1.1 Brazil Millimeter Wave Sensors and Modules Market by Frequency Band
7.4.3.1.2 Brazil Millimeter Wave Sensors and Modules Market by Application
7.4.3.2 Argentina Millimeter Wave Sensors and Modules Market
7.4.3.2.1 Argentina Millimeter Wave Sensors and Modules Market by Frequency Band
7.4.3.2.2 Argentina Millimeter Wave Sensors and Modules Market by Application
7.4.3.3 UAE Millimeter Wave Sensors and Modules Market
7.4.3.3.1 UAE Millimeter Wave Sensors and Modules Market by Frequency Band
7.4.3.3.2 UAE Millimeter Wave Sensors and Modules Market by Application
7.4.3.4 Saudi Arabia Millimeter Wave Sensors and Modules Market
7.4.3.4.1 Saudi Arabia Millimeter Wave Sensors and Modules Market by Frequency Band
7.4.3.4.2 Saudi Arabia Millimeter Wave Sensors and Modules Market by Application
7.4.3.5 South Africa Millimeter Wave Sensors and Modules Market
7.4.3.5.1 South Africa Millimeter Wave Sensors and Modules Market by Frequency Band
7.4.3.5.2 South Africa Millimeter Wave Sensors and Modules Market by Application
7.4.3.6 Nigeria Millimeter Wave Sensors and Modules Market
7.4.3.6.1 Nigeria Millimeter Wave Sensors and Modules Market by Frequency Band
7.4.3.6.2 Nigeria Millimeter Wave Sensors and Modules Market by Application
7.4.3.7 Rest of LAMEA Millimeter Wave Sensors and Modules Market
7.4.3.7.1 Rest of LAMEA Millimeter Wave Sensors and Modules Market by Frequency Band
7.4.3.7.2 Rest of LAMEA Millimeter Wave Sensors and Modules Market by Application
Chapter 8. Company Profiles
8.1 Texas Instruments, Inc.
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expense
8.1.5 Recent Strategies and Developments
8.1.5.1 Product Launches and Product Expansions
8.1.6 SWOT Analysis
8.2 NEC Corporation
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expenses
8.2.5 SWOT Analysis
8.3 Keysight Technologies, Inc.
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expenses
8.3.5 Recent Strategies and Developments
8.3.5.1 Product Launches and Product Expansions
8.3.6 SWOT Analysis
8.4 Qualcomm Incorporated (Qualcomm Technologies, Inc.)
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expense
8.4.5 Recent Strategies and Developments
8.4.5.1 Product Launches and Product Expansions
8.4.6 SWOT Analysis
8.5 MediaTek, Inc.
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Regional Analysis
8.5.4 Research & Development Expenses
8.5.5 SWOT Analysis
8.6 Infineon Technologies AG
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.6.4 Research & Development Expense
8.6.5 SWOT Analysis
8.7 Smiths Group PLC
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Regional Analysis
8.7.4 Research & Development Expenses
8.7.5 SWOT Analysis
8.8 Eravant, Inc.
8.8.1 Company Overview
8.9 Mistral Solutions Pvt. Ltd. (Axicades Technologies)
8.9.1 Company Overview
8.10. QuinStar Technology, Inc.
8.10.1 Company Overview
Chapter 9. Winning Imperatives of Millimeter Wave Sensors and Modules Market

Companies Mentioned

  • Texas Instruments, Inc.
  • NEC Corporation
  • Keysight Technologies, Inc.
  • Qualcomm Incorporated (Qualcomm Technologies, Inc.)
  • MediaTek, Inc.
  • Infineon Technologies AG
  • Smiths Group PLC
  • Eravant, Inc.
  • Mistral Solutions Pvt. Ltd. (Axicades Technologies)
  • QuinStar Technology, Inc.

Methodology

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