Global Millimeter Wave Sensors & Modules Market Size to worth USD 1133.0 Million by 2033: Market Insight Report

Global Millimeter Wave Sensors & Modules Market Size to worth USD 1133.0 Million by 2033

According to a research report published by Spherical Insights & Consulting, The Global Millimeter Wave Sensors & Modules Market Size is Expected to Grow from USD 78.0 Million in 2023 to USD 1133.0 Million by 2033, at a CAGR of 30.68% during the forecast period 2023-2033. 

Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Millimeter Wave Sensors & Modules Market Size, Share, and COVID-19 Impact Analysis, By Frequency Band (V-Band, E-Band, and Others), By Application (Telecommunications, Military & Defense, Automotive & Transport, Healthcare, Electronics & Semiconductor, and Security), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.     

Millimeter wave sensors and modules are sophisticated gadgets that operate within the frequency range of a millimeter wave, which is generally from 30 GHz to 300 GHz. They find extensive applications in high-resolution applications such as imaging, sensing, radar, and communication systems. By exploiting millimeter wave technology, these devices offer precise detection, ranging, and sensing with a high resolution, thus forming a vital component of many industries such as automotive, aerospace, telecommunications, healthcare, and security. Furthermore, several factors are boosting the market for millimeter wave sensors and modules. Increasing requirements for advanced driver assistance systems in the automobile sector and particularly for applications related to collision avoidance and autonomous driving are significant contributors to the increase. Moreover, growing interest in the use of millimeter wave technology for the further enhancement of 5G communication networks regarding speed data transmission and the reduction in latency is boosting market expansion. The need for high-resolution imaging and sensing in medical and industrial applications also supports market growth. However, some restraining factors are affecting the market. High production costs and the complexity of manufacturing millimeter wave sensors and modules can limit their widespread adoption.

The v-band segment is predicted to hold the greatest market share through the forecast period.

Based on the frequency band, the millimeter wave sensors & modules market is classified into v-band, e-band, and others. Among these, the v-band segment is predicted to hold the greatest market share through the forecast period. The v-band, which operates within the frequency range of 40 GHz to 75 GHz, is widely adopted in applications requiring high data transmission rates and high-resolution sensing. This frequency band is particularly popular in sectors such as telecommunications, automotive radar systems, and 5G communication networks, where its ability to provide large bandwidths and support high-speed data transfer is critical.

The automotive & transport segment is anticipated to hold the greatest market share during the projected timeframe.    

Based on the application, the millimeter wave sensors & modules market is divided into telecommunications, military & defense, automotive & transport, healthcare, electronics & semiconductor, and security. Among these, the automotive & transport segment is anticipated to hold the greatest market share during the projected timeframe. This segment is primarily driven by the growing demand for advanced driver assistance systems (ADAS) and autonomous vehicles. Millimeter wave sensors play a crucial role in automotive applications, including collision avoidance, adaptive cruise control, and parking assistance systems, by providing high-precision radar capabilities.

Asia Pacific is estimated to hold the largest millimeter wave sensors & modules market share over the forecast period.

Asia Pacific is estimated to hold the largest millimeter wave sensors & modules market share over the forecast period. This is also mainly because of its large population density, which increases the effectiveness of millimeter wave solutions in overcoming barriers and augmenting connectivity. Countries like Japan, South Korea, and India are investing big-time in the development of telecom infrastructure to support 5G network rollout that would further accelerate the implementation of millimeter wave sensors and modules across various applications.

North America is predicted to have the fastest CAGR growth in the millimeter wave sensors & modules market over the forecast period. This growth is mainly due to the increased demand for advanced communication systems, surveillance, and secure data transmission. Millimeter wave technology benefits include higher bandwidth, lower latency, and better security features, which are crucial for military operations. With defense strategies becoming more advanced in integrating complex technologies like drones and real-time data analytics, the industry demands reliable millimeter wave solutions that make this technology strategically important in modern warfare.

Company Profiling

Major key players in the millimeter wave sensors & modules market are AVIAT NETWORKS, Ceragon, E-band Communications LLC, Eravant, QuinStar Technology, Inc., Farran, Keysight Technologies, Mistral Solutions Pvt. Ltd., Smith’s Interconnect, and NEC Corporation.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In February 2024, Sivers Semiconductors AB announced the launch of its new cost-effective Radio Frequency (RF) Module BFM02803. This module covers the 5G FR2 millimeter wave bands N258, N257, and N261, ranging from 24.25 to 29.5 GHz. The BFM02803 supports 2x2 MIMO with dual-layer polarization for both uplink and downlink across channels up to 1.2 GHz. It features 32 dual-polarized antenna elements with advanced 2D beam steering capacity in both elevation and azimuth. With a transmitter power exceeding +50 dBm per polarization, this innovative RF module is positioned to support a wide range of Fixed Wireless Access (FWA) deployments while minimizing total ownership costs.

Market Segment

This study forecasts global, regional, and country revenue from 2023 to 2033. Spherical Insights has segmented the millimeter wave sensors & modules market based on the below-mentioned segments:

Global Millimeter Wave Sensors & Modules Market, By Frequency Band

• V-Band
• E-Band
• Others

Global Millimeter Wave Sensors & Modules Market, By Application

• Telecommunications
• Military & Defense
• Automotive & Transport
• Healthcare
• Electronics & Semiconductor
• Security

Global Millimeter Wave Sensors & Modules Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa