Market Highlights
The current scope of the millimeter wave technology market covers sensors and modules such as radar communication systems, satellite communication systems, and telecommunication equipment. The global mmWave sensor and module market has been segmented based on the frequency band, application, and region. The proliferation of mmWave in consumer electronics and increasing demand for millimeter wave technology in radar and security applications are the key factors that aid market growth. Vendors in the millimeter wave technology market are focusing on improving their services and expanding to the underdeveloped and developing economies.
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Key Players
The Key Players in the mmWave Sensors and Modules Market are identified across all the major regions based on their country of origin, presence, recent key developments, product diversification, and industry expertise. Some of them are Texas Instruments, Mistral Solutions Pvt Ltd, Qualcomm Inc, Keysight Technologies, Radio Gigabit Inc, Virginia Diodes, MediaTek Inc, NOVELIC LLC, Pulsar Process Management Ltd, and Infineon Technologies AG. among others. These players contribute significantly to market growth. Apart from the top key players, the other players contribute nearly 30–40% in the mmWave sensor and modules market.
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Regional Analysis
On the basis of geography, the market is studied for North America, Europe, Asia-Pacific, Middle East & Africa, and Central & South America. Among the regions mentioned above, North America is expected to dominate the market throughout the forecast period. The US and Canada are the major companies that primarily contribute to mmWave sensors and modules market. These countries have deployed mmWave technology-enabled full-body scanners at several entry points of the country owing to their high rate of accuracy as compared to X-ray scanners. Major players operating in the region include Texas Instruments, E-Band Communications LLC, L3 Technologies Inc, and Keysight Technologies among others. The US is also the first country to use mmWave in the form of E-band frequencies for commercial purposes. The market growth in Europe is mainly attributed to advancement in the telecommunication industry, and the collaboration of major players with small start-ups for the extensive deployment of mmWave technology.
Asia-Pacific is expected to show the highest CAGR during the forecast period. This is largely due to the high demand for bandwidth-intensive applications by the IT & telecommunication sector across the region. Also, the region has witnessed a rise in the number of government approval trials of mmWave bands using millimeter wave technology that further boosts advancements of mmWave sensors and modules market. Fujitsu and NEC Corporation are the major players operating in the market, heavily investing in the development of mmWave technology.
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