Microwave Devices Market to Surpass USD 12.14 Billion by 2032 at a CAGR of 6.05% - Report by SNS Insider

The Microwave Devices Market growth driven by the increasing demand for high-performance communication systems and advanced radar technologies.

AUSTIN, TX, UNITED STATES, January 9, 2025 /EINPresswire.com/ -- Market Size & Industry Insights

According to the SNS Insider Report,“The Microwave Devices Market was valued at USD 7.16 Billion in 2023 and is expected to reach USD 12.14 Billion by 2032, growing at a CAGR of 6.05% over the forecast period of 2024-2032.”

Microwave Devices Market Set for Remarkable Growth Driven by Innovations in 5G Networks and Satellite Communication Systems

The Microwave Devices Market is dramatically transforming due to innovations in semiconductor technologies, RF amplifiers, and integrated circuits. These have greatly improved the performance, reliability, and efficiency of microwave devices in different sectors and, therefore, led to an increase in their application. The spread of 5G networks and expansion of satellite communication systems, requiring high frequency, low latency, greater bandwidth, and high data transfer capabilities, is very crucial for microwave devices.

Moreover, advancements in industries like Ku-band broadband power amplifiers and dual-broadband antennas have come as the latest trend towards compact, energy-efficient solutions. For example, integrated circuits of monolithic microwave having peak power in excess of 30 dBm at 16 GHz and efficiency greater than 30% are achieved using 0.15 µm GaAs pHEMT technology. Similarly, dual broadband antennas designed for modern telecommunication bands exhibit gains up to a value of 2.2 dB.

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SWOT Analysis of Key Players as follows:
- Sony Corporation
- LG Display
- eMagin Corporation
- Himax Technologies
- AU Optronics
- Seiko Epson Corporation
- Syndiant
- MicroVision
- Texas Instruments
- Panasonic Corporation
- Universal Display Corporation
- Oculus VR
- Vuzix Corporation
- Google LLC
- Apple Inc.
- Samsung Electronics
- Microchip Technology Inc.
- Nikon Corporation
- Sharp Corporation.

Microwave Devices Market Poised for Significant Growth Owing to Rising Demand for Advanced Radar and Imaging Systems

Advanced Driver-Assistance Systems (ADAS) in the automotive industry, for instance, rely heavily on radar systems to enhance the safety features of vehicles, such as collision avoidance and adaptive cruise control. For weather forecasting, microwave radar systems are critical and provide accurate information on storm intensity and disaster management.

Microwave Devices Market Thrives on Ka-Band and Communication Segment Dominance, Fueled by 5G Expansion and Satellite Innovations

By Band Frequency
Ka-band segment acquired the largest market share of 39% in 2023. Ka-band frequency operates within the range of 26.5 GHz to 40 GHz and is preferred for its higher data transmission and bandwidths, thereby making it suitable for satellite-based communication.

The broadband services, such as direct-to-home television and military communications, show enhanced significance in this band. Its potential role in 5G networks as well as aerospace applications is giving it a boost in microwave devices market.

By Application
The Communication segment dominated the market in 2023, accounting for 55% of the total revenue. Microwave devices have become an indispensable part of satellite communications, mobile networks, and broadband systems.

The advent of 5G networks has further accelerated this segment's growth, as microwave devices allow for low-latency, high-bandwidth communication. Moreover, their critical role in secure military communication ensures that this segment will continue to dominate.

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KEY MARKET SEGMENTS:

By Band Frequency
S-band
C-band
X-band
Ku-band
Ka-band

By Application Outlook
Communication
Medical
Military & Defense
Others

North America Led Microwave Devices Market While Asia-Pacific Emerged as Fastest-Growing Region amid 5G and Defense Investments

North America was the largest contributor to the revenue of microwave devices globally at around 40% share in 2023. This is mainly due to advanced technological infrastructure, higher R&D investments, and the presence of leading industry players in the region. Deployment of 5G networks and very strong demand from defense and aerospace have boosted growth. The country's strategies through significant defense spending further help the growth of microwave devices mainly in satellite communication and radar systems.

The Asia-Pacific region is expected to grow at the highest rate from 2024 to 2032. This growth is attributed to expanding 5G networks, increasing investments in telecommunication, and growing adoption in defense and aerospace applications. The countries at the forefront of this advancement are China, Japan, and India, backed by robust manufacturing capabilities and cost-effective production. Innovation focus and the burgeoning consumer electronics market further add to the growth trajectory of the region.

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RECENT DEVELOPMENTS

November 2024: LioniX International, Royal Netherlands Aerospace Centre (NLR), will cooperate with Lockheed Martin to design an innovative microwave photonic solution in support of space and defense missions. REMBRANDT develops foundational technologies under international cooperation which support the development of next-generation communication and sensing.

December 2023: Raytheon, an RTX company, will develop two high-power microwave antenna systems, which would be based on the principles of directed energy to combat airborne threats. This USD 31.3 million contract given by Naval Surface Warfare Center Dahlgren Division for the term of three years will entail delivery of a prototype system from Raytheon to U.S. Navy and U.S. Air Force.

TABLE OF CONTENT - Key Points

Chapter 1. Introduction

Chapter 2. Executive Summary

Chapter 3. Research Methodology

Chapter 4. Market Dynamics Impact Analysis

Chapter 5. Statistical Insights and Trends Reporting

Chapter 6. Competitive Landscape

Chapter 7. Microwave Devices Market Segmentation, by Band Frequency

Chapter 8. Microwave Devices Market Segmentation, by Application

Chapter 9. Regional Analysis

Chapter 10. Company Profiles

Chapter 11. Use Cases and Best Practices

Chapter 12. Conclusion

Continued…

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Akash Anand
SNS Insider
+1 415-230-0044
info@snsinsider.com
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