Millimeter Wave Sensors Market Outlook (2023 to 2033)
A newly-released millimeter wave sensors market analysis report by Future Market Insights shows that sales are expected to grow to US$ 5.76 billion in 2023. With an expected CAGR of 7% from 2023 to 2033, the market is expected to reach a valuation of US$ 11.33 billion. Applications in telecommunication equipment will experience the maximum surge, growing at a CAGR of 6.7%. Increasing connectivity demands from residential and commercial applications are driving the demand for millimeter wave sensors & modules.
Several industries, including drones, medical applications, transportation, and mines, are enjoying revenue gains due to the advancement of millimeter wave sensors. Industrial and manufacturing applications have seen an upsurge in demand for millimeter wave sensors, being used for monitoring personnel and machinery, measuring temperature in rooms, and detecting hazardous substances. Strong demand for bandwidth-intensive applications and the increasing number of research and development activities in millimeter wave technology is expected to propel the market growth in the next few years. In contrast to other radar technologies, this technology is not affected by inclement weather conditions, which has made it widely used in satellite remote sensing and missile navigation.
High-bandwidth, high-speed internet across the telecom sector is becoming increasingly important as bandwidth-intensive applications, especially from consumer electronics, such as smartphones and wearable electronics, become more prevalent in the market. Across the military and defense industries, millimeter wave sensors can be found in radars and security systems. Furthermore, the increased use of millimeter wave equipment in wireless backhaul networks will continue to contribute positively to the growth of the millimeter wave sensor market in the future. 5G mobile communications are one of the most promising applications for the millimeter wave sensors market and might offer vast opportunities for players in this industry.
For instance, Fujitsu developed a video-based behavioral analysis AI technology called Actlyzer in 2019. With the help of data, the Actlyzer AI model recognizes approximately 100 basic human movements. Millimeter-wave sensors were designed for places where cameras were forbidden, including hospitals and nursing homes.
Texas Instruments releases their mmWave AWR1642 and IWR1642 sensors that support 76 to 81 GHz. With a fraction of the power of comparable sensor technologies, the sensors deliver three times more accurate sensing. By late 2018, mmWave radar sensors started showing up in vehicles, allowing long, short, and medium-range radar applications. In addition to making the car safer, these applications made it smarter. Additionally, engineers developed autonomous parking systems based on the automotive-qualified AWR1642 sensor that detects free space, obstacles, occupants, intruder alerts, and smart parking.
The millimeter wave sensor market in North America is expected to grow at the fastest rate owing to the early adoption of emerging technologies and growing demand from countries such as the United States and Canada. Asia Pacific's telecom infrastructure is being developed and upgraded, contributing to the rapid growth of technology. Additionally, as MM wave sensors are installed in new telecom equipment across the region, the market is expected to grow at a significant rate.
Automotive and aerospace industries are expected to benefit greatly from millimeter wave sensors in the future. Driver assistance systems are rapidly gaining traction with millimeter wave sensors, and the technology is employed in several applications, including automatic parking systems, cruise control systems, and lane departure warning systems. As part of its collision avoidance and aircraft surveillance efforts, the aerospace industry is investing significantly in millimeter wave sensors. Millimeter wave sensors will continue to be in demand in the future as autonomous vehicles become more popular. Millimeter wave sensors are also becoming more affordable, making them more accessible to industries across the board.
Data Points
Key Statistics
Expected Market Value in 2023
US$ 5.76 billion
Projected Market Value in 2033
US$ 11.33 billion
Growth Rate (2023 to 2033)
CAGR of 7%
Millimeter wave (mmWave) radar is a type of radar that uses short-wavelength electromagnetic waves. Radar systems emit electromagnetic wave signals that are reflected by objects in their path. A radar system can determine the range, velocity, and angle of the objects by capturing the reflected signal.
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2018 to 2022 Millimeter Wave Sensors Market Demand Outlook Compared to 2023 to 2033 Forecast
The millimeter wave sensors market is estimated to grow at a CAGR of 25.5% for the forecast period of 2023 to 2033, in comparison to the 18.4% growth of millimeter wave sensors for the historic period 2018 to 2022.
The primary factors driving the growth of the millimetre wave sensors market are continuous investments in developing new sensor technologies and upgrading the existing infrastructure to support IoT and automation. Furthermore, the continuous innovation in sensor technology, as well as the growing demand for smart and intelligent sensors, are expected to drive the growth of the millimeter wave sensors market
Millimeter wave sensors are progressively being used in bandwidth-intensive applications and data-intensive services
The demand for OTT services, high-definition games, high-definition multimedia, and mobile broadband with high-speed data is on the rise. Instrument landing systems (ILS), advanced avionics navigation systems, and automotive long-range radar (LRR), as well as the digitization of automotive radar systems and advancement due to the need for higher bandwidth, are some of the main driving factors.
One of the major driving factors is the need for more bandwidth and the emergence of Internet-based applications and solutions.
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Regional Analysis
North America is the region that had the largest market share in 2022, with a market share of 22.3%.
On a regional basis, North America is anticipated to be one of the key markets for millimeter wave sensors due to the presence of various key millimeter wave sensor manufacturers and the growing adoption of technological innovations such as IIoT and 5G.
The South Asia and Pacific region, however, is estimated to witness the highest growth of CAGR at 26.7%.
Country wise insights
Increased Use of wireless communications and Radar systems in the USA
The USA is analysed to dominate the global millimeter wave sensors market and is analysed to grow at a fast rate during the forecast period. This market growth can be attributed to the various factors such as the presence of key market players namely Aviant Networks Inc. and E-band Communications.
Moreover, the implementation of new telecom equipment and millimeter wave radar systems is expected to drive the market in the United States.
The USA estimated market share value was 15.4% in 2022, with a 19.2% CAGR over the forecast period.
Rising Network Infrastructure Demand and Increasing Wireless Network Implementation in India Are Creating Potential Opportunities for Expansion for The Millimeter Wave Sensors Market
The primary factors driving the growth of the millimeter wave sensors market are continuous investments in developing new sensor technologies and upgrading the existing infrastructure to support IoT and automation. Furthermore, the continuous innovation in sensor technology, as well as the growing demand for smart and intelligent sensors, are expected to drive the growth of the millimeter wave sensors market.
This allowed India to have held the market to grow at a CAGR of 26.5%.
Early Adoption Drives the Growth for Millimeter Wave Sensors in China
The country's early adoption of upcoming and emerging technology, is estimated to allow the market to hold a respectable market share.
Millimeter wave sensors are increasingly being used in bandwidth-intensive applications and data-intensive assistance such as video streaming, video conferencing, internet-based media exchange, and high-speed online gaming.
Consumer electronics, such as smartphones and wearable electronics, are estimated to drive the millimeter wave sensors market during the forecast period.
Due to the above mentioned reasons, China was estimated to have held a market share of 13.2% in 2022.
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Category wise Insights
Why Does the Telecommunications Equipment Segment of the Millimeter Wave Sensors Market Have a High Market Share?
As technology advances and people become more reliant on their devices the demand for telecom carriers to provide faster network services will grow. This gives rise to the 5G generation of communications technology.
While 5G is still in its early stages, the industry is currently focused on implementing it and determining how to effectively support it.
For these reasons, the telecommunications equipment segment is estimated to have a higher CAGR of 24.3%.
Why E-Band Frequencies Held the Largest Market Share for the Millimeter Wave Sensors Market?
The E-band covers the frequency range of 60 to 90 GHz. The wavelengths of signals in this frequency range from 3.33 mm to 5 mm. Because short wavelengths provide directional signals at these frequencies, this band is widely used for RF/Microwave backhaul links.
In most countries, the E-Band is a licensed or lightly licensed band used for ultra-high capacity backhaul applications with a range of up to 3 km.
It can also be used for longer-distance transmission (10 km in some cases), but due to atmospheric absorption of waves at these frequencies, such systems require extremely high-power levels.
Based upon the above mentioned reasons, it was estimated that E-band frequency held the largest market share of 35.6% for 2022.
Competitive Landscape
Most of the market's leading players in millimeter wave sensors are focusing on partnerships and collaborations to can provide innovative products for emerging technologies such as 5G and IoT.
In January 2023, Sona Comstar expands into the ADAS sensor market by acquiring Novelic
The strategic acquisition of a Serbian tech supplier is expected to be accretive for Sona Comstar shares and marks Group’s foray into the ADAS sensors and software domain in the automotive ecosystem.
In January 2023, MilwebTM millimeter wave sensor technology with integrated algorithms to be introduced by SMK Electronics Corporation, as just one of a broad spectrum of applications, SMK’s new Milweb sensor can be utilized by automotive partners to detect vehicle rear seat occupancy–a function that can be then integrated into the car’s optical system.
Scope of report
Attribute
Details
Market value in 2022
US$ 69.4 Million
Market CAGR 2023 to 2033
25.5%
Share of top 5 players
Around 25%
Forecast Period
2023 to 2033
Historical Data Available for
2018 to 2022
Market Analysis
USD Million for Value
Key Regions Covered
North America, Latin America, Europe, South Asia & Pacific, East Asia, and the Middle East & Africa
Key Countries Covered
USA, Canada, Germany, United kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Australia & New Zealand, GCC Countries, Turkey, and South Africa
