The global microwave devices market size was valued at USD 7.46 billion in 2015 and is expected to witness lucrative growth over the forecast period. The growing usage of SiC and GaN devices, in the upcoming amplifier technology, is expected to drive the industry growth. They offer high efficiency and heat tolerance. They are also able to perform well in harsh environments.
North America microwave devices market, by application, 2014 - 2024 (USD Billion)
Technologically advanced microwave devices, with enhanced accuracy, are being implemented in telecommunication applications. They are used extensively, owing to their high bandwidth that facilitates high rates of data transmission. They are also capable of generating, amplifying, detecting, and even measuring microwaves.
Asia Pacific is one of the significant contributors in the communication sector. The introduction of telecom network bands, such as 4G, enables the implementation of microwave emitting hardware in network towers. This is expected to drive the regional microwave devices market growth over the forecast period.
Countries, such as the UK and Germany, are contributing toward the industry growth, owing to the presence of key vendors such as e2V, Thales Group, and TMD Technologies Ltd. The companies offer a broad range of products such as power modules, amplifiers, and transmitters.
Increasing investments in research and developments, by the key vendors, have encouraged the development of innovative and sophisticated microwave devices. They are used in the connected technology that enables access to an extensive consumer base.
The C-band segment dominated and accounted for a major share in 2015. The X-band segment is anticipated to be the fastest-growing segment with a CAGR of 6.9% from 2016 to 2024.
C-band is used across multiple sectors such as satellite, communications, and television. It is affordable and is also used in communication applications such as fiber optics. Further, it is implemented in radio transmissions and particle accelerators. The abovementioned applications are stimulating the global demand for C-bands.
The medical segment is presumed to be the fastest-growing application segment with a CAGR of 6.6% from 2016 to 2024. The communication application segment is also presumed to witness lucrative growth over the next nine years.
These devices have numerous applications and are used in cancer detection and ablation of tissue & cornea, due to their optimum surface penetration. They are also used in medical diagnostics for imaging and testing. Furthermore, they also facilitate detection of cancer cells at early stages.
The wireless communication segment was valued at USD 1.13 billion in 2015 and is expected to grow over the forecast period. The growing adoption of communication devices, such as laptops and mobile phones, is expected to foster the installation of communication towers and satellites.
Europe microwave devices market, by band frequency, 2015 (%)
Emerging regional markets, such as Asia Pacific, are expected to grow over the next nine years, due to the increasing adoption of wireless handheld electronics such as mobile phones and tablets. Further, the implementation of radars is promoting market growth in these regions.
The Asia Pacific region is expected to be the fastest-growing region with a CAGR of 7.9% over the forecast period. The North American regional market dominated in 2015 and is expected to witness remarkable growth over the next nine years.
Large-scale investments in the defense industry are expected to drive the growth of the North American regional market, owing to the implementation of broadband data links, countermeasures, and surface radars. Furthermore, technological innovations in this region are enabling the development of sophisticated and reliable products.
The key players in the industry include Communications & Power Industries LLC, Cytec Corporation, e2V, L-3 Communication systems, MicroWave Technology, Inc., RFMD, Richardson Electronics, Ltd., Teledyne Technologies, Inc., Thales Group, TMD Technologies Ltd., and Toshiba Corporation, among others.
The industry participants mainly focus on new product developments that enable low-cost and high-quality manufacturing. Organizations undertake mergers & acquisitions and partnerships for broadening their product offerings across various industries.
Report Attribute |
Details |
Market size value in 2020 |
USD 9.83 billion |
Revenue forecast in 2024 |
USD 11.86 billion |
Growth Rate |
CAGR of 5.2% from 2018 to 2024 |
Base year for estimation |
2015 |
Historical data |
2014 - 2015 |
Forecast period |
2018 - 2024 |
Quantitative units |
Revenue in USD million/billion and CAGR from 2018 to 2024 |
Report coverage |
Revenue forecast, company market share, competitive landscape, growth factors, and trends |
Segments covered |
Band frequencies, applications, and regions. |
Regional scope |
North America; Europe; Asia Pacific; Latin America; MEA |
Country scope |
U.S.; Canada; Germany; U.K.; China; India; Japan; Mexico; Brazil |
Key companies profiled |
Communications & Power Industries LLC; Cytec Corporation; e2V; L-3 Communication systems; MicroWave Technology; Inc.; RFMD; Richardson Electronics; Ltd.; Teledyne Technologies; Inc.; Thales Group; TMD Technologies Ltd.; and Toshiba Corporation. |
Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2024. For the purpose of this study, Grand View Research has segmented the global microwave devices market based on band frequencies, applications, and regions.
Band Frequency Scope (Revenue, USD Million; 2014 - 2024)
S-Band
C-Band
X-Band
Ku-Band
Ka-Band
Application Scope (Revenue, USD Million; 2014 - 2024)
Communication
Medical
Military & Defense
Others
Regional Outlook (Revenue, USD Million; 2014 - 2024)
North America
The U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
Japan
India
South America
Brazil
Middle East and Africa (MEA)
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Artificial Intelligence (AI), Virtual Reality (VR), and Augmented Reality (AR) solutions are anticipated to substantially contribute while responding to the COVID-19 pandemic and address continuously evolving challenges. The existing situation owing to the outbreak of the epidemic will inspire pharmaceutical vendors and healthcare establishments to improve their R&D investments in AI, acting as a core technology for enabling various initiatives. The insurance industry is expected to confront the pressure associated with cost-efficiency. Usage of AI can help in reducing operating costs, and at the same time, can increase customer satisfaction during the renewal process, claims, and other services. VR/AR can assist in e-learning, for which the demand will surge owing to the closure of many schools and universities. Further, VR/AR can also prove to be a valuable solution in providing remote assistance as it can support in avoiding unnecessary travel. The report will account for Covid19 as a key market contributor.
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