The MM wave sensors and modules are extensively used in applications across various sectors, such as military and defence, telecommunication, automotive, security, and healthcare. Increasing demand arriving from all these industrial and commercial sectors is further expected to catapult the market at a considerable pace. The usage of wireless and mobile networking equipment has risen drastically in the last few years. Increasing number of internet-driven applications and solutions is resulting in an augmented need for large amount of data transfer among various devices in the mobile connectivity ecosystem. This is expected to develop high-speed data transfer devices, wherein millimeter-wave modules and sensors are extensively used.

Major application areas of these devices include telecommunication, military and defence, security services, and medical and healthcare. Recent developments and continuous research and progress in the telecom industry are likely to lead to the evolution of the 5G technology.

Grand View researchers anticipate that millimeter wave sensors and modules will play a vital role in the development of fifth-generation technology owing to the need for higher bandwidth. The 5G technology is predicted to emerge in the coming years and the market is likely to witness its significant adoption. Eventually, demand for MMW sensors and modules is expected to boost, thus propelling the overall market growth, particularly across the telecom industry.

Increased government funding and initiatives, coupled with R&D activities carried out by the public and private sectors, are driving the market. E-band frequencies have extensive applications in the telecommunication sector and the segment is anticipated to generate the largest revenue over the forecast period on account of its growing applications in the sector. Therefore, the analysts predict that the overall market is poised to witness significant growth over the forecast period.

Some of the major players in this sector and covered in the report include, Aviat, Sage Millimeter, Bridgewave Communications , NEC, Siklu and E-Band, Farran Technology and Keysight Technogies, amongst others.