The global Microwave Devices Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The global Microwave Devices Market size is expected to value at USD 11.86 billion by 2024. The market is subject to witness a substantial growth due to the increasing consummation of Gallium Nitride (GaN) and Silicon Carbide (SiC) devices. These devices provide benefits such as high efficiency and heat tolerance. Additionally, the devices are capable of performing precisely in harsh environments..Such advantages are expected to drive the demand of the market over the forecast period.
Key Players:
- Communications & Power Industries (CPI)
- Cytec Corporation
- e2V
- L-3 Communications
- MicroWave Technology, Inc.
- RF Microwave Devices
- Richardson Electronic, Ltd.
- Teledyne Technologies, Inc.
- Thales Group
- TMD Technologies, Ltd.
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Growth Drivers:
Globally, the microwave devices market is predicted to grow at a higher CAGR in forecast period, providing numerous opportunities for market players to invest in research and development in the market. With recent technological advancement in microwave technology, has led to improved accuracy, and superior performance, thus driving demand of the microwave devices in number of telecommunication applications. Growing popularity of the microwave devices in various telecommunications applications is attributed to high bandwidth and faster data transmission rate. Some of the major applications of the microwave devices include generation, amplification, detection, and measurement of the microwave signal. The current developments in telecom sector involving introduction of 4G and 5G technology is making businesses to adopt highly advanced microwave emitting hardware across network bridges. These factors are critical for the sustained growth of the microwave devices industry over the forecast period.
Rise in the demand of the power modules, amplifiers, and transmitters from various electronic manufacturing industries is expected to boost the growth of microwave devices industry in years to come. Furthermore, substantial increase in the investments by private organization in research and developments, is leading development of the by modern and sophisticated microwave devices. Growing customer base owing to increasing focus towards implementation of connected technology such as IoT is anticipated to boost market growth in upcoming years as well. Higher penetration of mobile phones in developing countries is driving demand of the microwave devices due to higher frequencies associated with these devices and capability to perform long-range communication.
Band Frequency Scope:
- S-Band
- C-Band
- X-Band
- Ku-Band
- Ka-Band
Application Outlook:
- Communication
- Medical
- Military & Defense
Regional Insights:
The microwave devices industry is divided by region such as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies such as broadband data links, countermeasures, and surface radars, and existence of well-established industrial infrastructure.
Asia-Pacific region is predicted to hold major market share in the microwave devices market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with increasing defense expenditure by regional governments and significant investment by leading industry players considering potential opportunities in the region.
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