IMARC Group’s latest report, titled “Microwave Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global microwave devices market size reached US$ 5.6 Billion in 2021. Microwave devices refer to electronic devices that can generate, amplify, modify, detect, and measure microwaves. They enable users to send and receive voice, video, and data information by providing high-speed wireless connections. They have excellent bandwidth that facilitates high rates of data transmission. They are widely used in point-to-point communications on the surface of the Earth and satellite and deep-space radio communications. As a result, microwave devices find extensive applications in satellite communications, radar signals, sensor systems, radio astronomy, and navigation systems.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Microwave Devices Market Trends:
The emerging military and defense applications of microwave devices due to the surging need for enhanced communication services for transferring confidential information represents the primary factor driving the market growth. Besides this, the increasing usage of high-power microwave technology in developing electromagnetic bombs during strategic and tactical information warfare is another major growth-inducing factor. In addition, there has been rising product adoption in the healthcare sector for medical imaging, cancer detection, thermal ablation of tissues, and bleeding coagulation in vascular organs. Along with this, the growing utilization of microwave devices in advanced warming devices used in operating rooms and intensive care units (ICUs) to assist patients with hypothermia or other rare conditions has augmented the product demand. Furthermore, the leading manufacturers are introducing next-generation microwave devices with hybrid spin electromagnetic waves in ferrite-ferroelectric layered structures. In line with this, several product innovations, such as the launch of improved and expanded lines of attenuators and terminations, cavity filters, and directional couplers, have propelled market growth. Other factors, including the rising incidences of chronic diseases, increasing space exploration activities, surging penetration of wireless communication networks, and shifting focus toward the implementation of connected technology, such as the Internet of Things (IoT), are also creating a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 8.0 Billion by 2027, expanding at a CAGR of 5.97% during 2022-2027.
- Based on the product type, the market has been bifurcated into passive and active microwave devices.
- On the basis of the frequency, the market has been classified into L, X, S, C, Ku, Ka, and other bands.
- The market has been segregated based on the application into defense, commercial, space and communication, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being Analog Devices Inc., CPI International Inc., Kratos Defense & Security Solutions Inc., L3Harris Technologies Inc., Littelfuse Inc, MACOM Technology Solutions, Microchip Technology Inc., Qorvo Inc, Teledyne Technologies Incorporated, Thales Group, and Toshiba Corporation.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800