According to a new report, published by KBV research, The Global Millimeter Wave Sensors and Modules Market size is expected to reach $677.49 million by 2031, rising at a market growth of 29.8% CAGR during the forecast period.
The rapid urbanization and demand for advanced infrastructure have led to the widespread adoption of millimeter wave solutions in cities worldwide. By making it possible to monitor and optimize traffic flow in real-time, these technologies are revolutionizing traffic management systems. For instance, Singapore uses mmWave sensors to dynamically adjust signal timings, reducing delays and fuel consumption, while London incorporates similar technology into smart traffic lights and public transport systems to enhance urban mobility.
The E-Band segment led the maximum revenue in the Global Millimeter Wave Sensors and Modules Market by Frequency Band in 2023, thereby, achieving a market value of $410.3 million by 2031. It is propelled by its effectiveness in providing high-capacity wireless backhaul solutions, particularly for 5G infrastructure. Its ability to deliver multi-gigabit data rates over relatively short distances makes it an essential component in urban network densification and high-performance communication systems.
The Telecommunications segment is growing at a CAGR of 28.5 % during the forecast period. The telecommunications segment is primarily driven by the rapid deployment of 5G networks, which require high-speed, low-latency communication solutions enabled by mmWave technology. The ability of mmWave sensors to handle large bandwidths and provide ultra-fast data transmission makes them essential for mobile broadband, fixed wireless access, and backhaul connectivity applications.
Full Report: https://www.kbvresearch.com/millimeter-wave-sensors-and-modules-market/
The Asia Pacific region dominated the Global Millimeter Wave Sensors and Modules Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $254,607.2 Thousands by 2031. The North America region is anticipated to grow at a CAGR of 29% during (2024 - 2031). Additionally, The Europe region would witness a CAGR of 29.5% during (2024 - 2031).
By Frequency Band
By Application
Unique Offerings 
