Key Market Overview:
Microwave Devices Market was valued at USD 5.5 Billion in 2021, registering a CAGR of 7.2% during the forecast period (2022-2030), and the market is expected to be worth USD 10.3 Billion by 2030.
The microwave devices market refers to the production and sales of various microwave-based products such as microwave ovens, microwave components, microwave power devices, microwave test & measurement equipment, and microwave communication systems. The market is driven by factors such as the increasing demand for consumer electronics & telecommunication equipment and advancements in microwave technology such as the development of 5G technology. The growing demand for wireless connectivity, both in urban and rural areas, is also fueling the growth of the market. The emergence of the Internet of Things (IoT) and smart homes is boosting the growth of the market, as microwave-based products, such as microwave ovens and microwave components, are increasingly integrated into smart home systems.
The increasing demand for microwave-based products, such as microwave ovens, in the food industry, is propelling the growth of the market. Companies are constantly applying innovations and technological advancements to hold their position in the market and to raise the market share. For instance, LG has launched a new range of microwave ovens with a charcoal lighting feature in India. The new feature in microwaves, provide a healthier way of cooking besides protecting the authentic cooking taste. The government’s support for research and development in microwave technology, through funding and incentives, is another driving factor for the growth of the market. The market is therefore, expected to grow significantly over the forecast period, driven by the increasing demand for high-speed communication systems, the growing adoption of smart homes, and the increasing demand for microwave-based products in the industrial and medical sectors.
Market Dynamics:
Driver:
- The increasing demand for consumer electronics, such as smartphones and laptops, and telecommunication equipment, including modems and routers, is driving the growth of the microwave devices market.
- The rising demand for high-speed communication systems, such as broadband wireless access systems and backhaul systems, is further fueling the market growth.
- The continuous advancements in microwave technology, such as the development of millimeter-wave technology and 5G technology, are the major factors driving the growth of the market.
- Microwaves are widely used in the healthcare sector for detecting cancer that plays a crucial role in diagnosing against lung cancer, liver tumor, and prostate ablation.
Restraint:
The high cost associated with the development and deployment of microwave-based products is a major factor restraining the growth of the market. Owing to the aforementioned factor, the low-scale and small-medium enterprises are majorly affected. Additionally, environmental concerns such as the potential health hazards associated with exposure to electromagnetic radiation, hinder the growth of microwave devices market. Also, stringent government regulations and certifications such as FCC regulates the electromagnetic radiation emitted by microwave devices to ensure that microwaves do not pose a health risk to consumers, are other major restraints for market growth.
Opportunities:
- The integration of microwave technology on the Internet of Things (IoT) and smart homes is a major opportunity for the growth of the market, especially in Asia-Pacific countries as it is headquartered for top manufacturers.
- The development of energy-efficient microwave devices, such as microwave ovens with advanced features to consume less power, is a major opportunity for the growth of the market in commercial segments.
Microwave Devices Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2016-2030 |
| Market Size in 2030 (USD Billion) | 10.3 Billion |
| CAGR (2022-2030) | 7.2% |
| By Product | Active Devices and Passive Devices |
| By Frequency | C-Band, L-Band, S-Band, X-Band, Ku-Band, and Ka-Band |
| By End-User | Telecommunication, Military & Defense, Healthcare, and Others |
| By Geography | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Key Players | Huawei Technologies Co. Ltd., Ericsson, Nokia, ZTE Corporation, Samsung Electronics Co. Ltd., Qualcomm Inc., Broadcom Inc., Analog Devices, Inc., Qorvo, Inc., Skyworks Solutions, Inc. |
Market Segmentation:
By Product
The product segment is separated into active devices and passive devices. Passive microwave devices dominates the market by generating maximum revenue and includes filters, couplers, and transformers are used in various applications, such as communication systems, radar systems, and electronic warfare systems. Passive devices also contribute to market share by forming an essential component in communication systems, such as cell phone networks and satellite communication systems.
The active devices segment is expected to grow with the fastest CAGR during the forecast period due to the increasing demand for high-power and high-frequency applications, such as 5G communication systems. Active microwave devices are capable of generating and controlling electromagnetic waves and include amplifiers, oscillators, and mixers. The advancements in technology have led to the development of smaller and more efficient active components, making active devices more desirable to consumers. Moreover, the active components provide better performance compared to passive components and are more cost-effective hence, are accessible to a wider range of consumers.
By Frequency
The frequency segment is bifurcated into C-band, L-band, S-band, X-band, Ku-band, and Ka-band. The Ku-band contributes the largest share in terms of revenue in 2021 due to the increasing demand for high-frequency applications such as 5G communication systems. Ku-Band is a frequency band ranging from 12 to 18 GHz and is used for satellite communications due to the increasing demand for high-speed internet connectivity, especially in remote and underserved areas. The Ku-Band has a large bandwidth that allows for more efficient use of satellite capacity and reduces the number of satellites required for a particular application. For instance, in August 2020, MACOM introduced New MAAP-011313 Ku-Band 4-Watt Power Amplifier assembled in a lead-free 5 mm 32-lead air cavity QFN plastic package. The device is ideally suited for linear Ku-band VSAT communications.
C-band ranges from 4 to 8 GHz and has a wide range of applications in military communications and weather radar systems. L-band ranges from 1 to 2 GHz and will register the fastest CAGR during the forecast period due to the extensive use in global positioning systems (GPS). S-band ranges from 2 to 4 GHz and is employed in maritime and aviation communications. X-band’s range lies from 8 to 12 GHz and is used in military communications and weather radar systems. Ka-band ranges from 26 to 40 GHz and is utilized for a variety of automotive applications, such as collision avoidance systems and intelligent cruise control.
By End-User
The end-user segment is divided into telecommunication, military & defense, healthcare, and others. The telecommunication segment dominates the market in 2021 and contributes the largest share of the industry growth followed by the military and defense industry. The telecommunication industry is a major end-user of microwave devices, as they are used in various applications, such as satellite communications, mobile networks, and point-to-point communications. The military and defense industry are another significant end-user of microwave devices, since microwaves are employed in various military applications, such as radar systems, electronic warfare systems, and communication systems.
The growing demand for microwave devices in the healthcare industry is expected to register fastest CAGR growth during the forecast period. Microwaves are exercised in numerous medical applications, such as cancer treatment, pain management, and wound healing.
By Region
The regional segment includes Europe, North America, and Asia Pacific. North America dominated the market by generating maximum revenues in 2021 due to the rising adoption of advanced communication systems in the energy and power industry. For instance, in August 2022, Ferrite Microwave Technologies in Nashua, NH produced record-breaking number of generators using microwaves. The company has produced double the number of 915 MHz, 100 kW generators as compared to their previous years manufacturing rate. Additionally, the presence of a large number of key players in the region such as Qualcomm Inc., Analog Devices, Inc., Qorvo, Inc. and Broadcom Inc. are driving the growth of the market.
Asia-Pacific is expected to register the fastest CAGR during the forecast period as the government in Japan, Australia, India, and China is spending heavily on the development of 5G infrastructure. The growing healthcare industry in the region will promote market growth during the forecast period. For instance, in March 2020, researchers at the University of London invented a wearable device named Hydration Sensor that uses microwaves are used to measure the signs of dehydration in human body. The scientists make use of microwave devices to examine protein and salt changes, present in blood and influenced by dehydration.
Microwave Devices Market Competitive Landscape:
The market is highly competitive, with a large number of players operating at the global and regional levels. The players compete on various parameters such as price, quality, innovation, and customer service. They are constantly investing in research and development to improve their products and expand their market share. Mergers, acquisitions, and partnerships are also common strategies employed by companies to enhance their market position and expand their product portfolio. Key players in the market include-
- Huawei Technologies Co. Ltd.
- Ericsson
- Nokia
- ZTE Corporation
- Samsung Electronics Co. Ltd.
- Qualcomm Inc.
- Broadcom Inc.
- Analog Devices, Inc.
- Qorvo, Inc.
- Skyworks Solutions, Inc.
Recent Developments:
- In 2021, Huawei Technologies Co. Ltd. partnered with China Unicom to jointly develop 5G applications and services in China.
- In 2021, two Bulk Acoustic Wave (BAW) filters QPQ3500 and QPQ3501 are launched by Qorvo, Inc. to reduce insertion loss and offer better 5G base stations.
- In 2020, Ericsson acquired Cradlepoint, a provider of cloud-based wireless edge solutions, to expand its portfolio of 5G solutions and enhance its position in the 5G market.
- In 2020, Nokia partnered with China Mobile to jointly develop 5G solutions and services in China.
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