Press release
Emerging Microwave Devices Market Trends: Product Innovations Driving Growth In The Microwave Devices Market Shaping the Future of the Industry
Microwave Devices Market Growth
Microwave Devices Market Size Growth Forecast: What to Expect by 2025?
In recent times, there has been significant growth observed in the size of the microwave devices market. The market is projected to increase from $7.47 billion in 2024 to $7.99 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.8%. Military applications, satellite communications, wireless networks, microwave ovens, and radar systems contribute to the growth experienced in the historic period.
How Will the Microwave Devices Market Size Evolve and Grow by 2029?
Over the next few years, the market for microwave devices is projected to witness substantial growth, escalating to $10.97 billion by 2029 with a compound annual growth rate (CAGR) of 8.3%. This growth during the forecasted period can be credited to several sectors such as medical imaging, telecommunications infrastructure, consumer electronics, space exploration, scientific research, and energy harvesting. Notable trends within the forecast period are related to biomedical applications, sustainable agriculture, smart grids, 5G technology, and quantum computing.
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What Drivers Are Propelling the Growth of Microwave Devices Market Forward?
The microwave devices market is experiencing substantial growth, owing largely to the escalating expenditures on military and defense. Being at the forefront of national security and protection, the military and defense sectors heavily rely on these devices. They are crucial for conducting critical operations securely and reliably such as complex signal processing, data security, and efficient transmission of information. The industry's growing emphasis and investment in advanced devices are fueling the expansion of the microwave devices sector. As an example, the Stockholm International Peace Research Institute, a globally recognized institute based in Sweden, reported in April 2023 that global military spending increased by 3.7% in 2022, amounting to $2240 billion in real terms. Hence, this mounting expenditure on defense and military sectors is fuelling the microwave devices market's progression.
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Which Emerging Trends Are Transforming the Microwave Devices Market in 2025?
Product advancements are the main trends influencing the microwave devices market. The industry stakeholders are crafting high-tech products with creative solutions to grow their market share. Taking Huawei as an example, the tech giant from China rolled out the MAGICSwave in March 2023. The MAGICSwave was created for regular microwave uses such as urban high-capacity and suburban ultra-long-distance transmission. It amalgamates cutting-edge technologies like all-band new 2T, true wideband, ultra-long-distances transportation, and a highly unified platform that allows operators to construct economical 5G transport networks.
What Are the Key Segments in the Microwave Devices Market?
The microwave devices market covered in this report is segmented -
1) By Type: Active, Passive
2) By Frequency: Ku Band, Ka Band, S Band, C Band, X Band, L Band
3) By End User: Space And Communication, Defense, Commercial, Other End-Users
Subsegments:
1) By Active: Microwave Amplifiers, Microwave Oscillators, Microwave Transmitters, Microwave Generators
2) By Passive: Microwave Filters, Microwave Couplers, Microwave Antennas, Microwave Isolators, Waveguides
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Who Are the Key Players Shaping the Microwave Devices Market's Competitive Landscape?
Major companies operating in the microwave devices market include API Technologies Corp., Thales Group, Electron Energy Corporation, CableFree, Teledyne UK Limited, Toshiba Corporation, CPI International Inc., Cytec Corporation, TMD Technologies Ltd., Richardson Electronics Ltd., Microsemi Corporation, Qorvo Inc., Texas Instruments Inc., Communications & Power Industries LLC, NXP Semiconductors N.V., MACOM Technology Solutions Inc., Analog Devices Inc., Fujitsu Limited, Hitachi Ltd., Infineon Technologies AG, Kyocera Corporation, LG Electronics Inc., Mitsubishi Electric Corporation, Murata Manufacturing Co. Ltd., NEC Corporation, Panasonic Corporation, Samsung Electronics Co. Ltd., Sharp Corporation, Skyworks Solutions Inc., Sony Corporation
What Geographic Markets Are Powering Growth in the Microwave Devices Market?
North America was the largest region in the microwave devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the microwave devices market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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