The Integrated Microwave Assembly Market is expected to grow from USD 1.5 billion in 2022 to USD 2.0 billion by 2027; it is expected to grow at a CAGR of 6.8% during the forecast period. Major factors driving the growth of the Integrated Microwave Assembly Market are expected to be driven by the rising defense expenditure globally to design advanced warfare equipment, including secure communication products and military radars. Likewise, with technological advancements and rapid growth in the adoption of 5G, the demand for integrated microwave assembly-based RF modules has increased significantly, creating lucrative opportunities for the market players.
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The communications segment is projected to register the highest CAGR during the forecast period. The data transfer rate using 5G technology is expected to increase significantly, leading to a rise in demand for integrated microwave assemblies to be used in smartphone technologies. The growing use of smartphones and increasing demand for fast transfer data rates are expected to fuel the growth of the communications segment during the forecast period.
The market in North America is expected to have the largest market size during the forecast period. The Integrated Microwave Assembly Market in North America is the largest considering the verticals that use integrated microwave assembly devices, including military defense and communications. With increasing military expenditure in the US, integrated microwave assemblies with higher performance capabilities are in high demand.
Key Players in the Integrated Microwave Assembly Market are grabbing opportunities by indulging in agreements, partnerships and acquisitions. Product development and expansions were a few of the other strategies adopted by companies in this market to strengthen their market position.
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