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 interest for millimeter wave sensor and module is expanding quickly attributable to the developing requirement for fast and data transfer capacity necessities from business and private applications sectors. The millimeter wave innovation is broadly utilized for radar and security applications across military and security industry. Additionally, expanded acceptance of millimeter wave technology in microscopic cell back transport electronic network is lending a helping hand towards the modification of the worldwide millimeter wave sensor and module market. Development of data transmission centered applications and expansion of IT and telecommunication groundwork across the globe is expected to drive the evolution of the worldwide millimeter wave sensor and module market during the forecast time frame of 2020-2030.
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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 was seen contributing the biggest share to the worldwide market in 2020 and is postulated to be a dominating segment all through the forecasted period attributable to virile demand from telecommunication sector. Rise in financing ventures are a factor for expansion of telecommunication model and is expected to contribute towards the development of the E-band based millimeter wave sensor and module market during the predicted time period. The V-band millimeter wave sensor and modules are broadly utilized across military communication and satellite communications and are anticipated to develop entirely during the year 2020-2030.
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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 controlled the biggest share of the worldwide millimeter wave sensor and module market in 2020 resulting from expanded demand for high velocity communication and information move across the globe. Expanding funds getting invested in IT and telecommunication framework across the globe is expected to promote the development of worldwide millimeter wave sensor and module market during the estimated time 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 was seen holding the massive share of the worldwide millimeter wave sensor and module market as far as income and volume in 2020 is concerned. Attributable to primal approval of millimeter wave innovation across the regions like US and Canada. Expanded raising of funds and investments taking place in research and advancement of millimeter wave innovation in the US is expected to propel the development of North America millimeter wave sensor and module market during the forecast time period. Asia Pacific is expected to be the quickest developing segment during the conjecture time frame as a result of broadening telecommunication industry and rising acceptance of millimeter wave innovation across the developing and fully developed nations.
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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