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Millimeter Wave Technology Market Size to Grow USD 3182 Million by 2030 at a CAGR of 20.6% | Valuates Reports

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BANGALORE, India, July 5, 2024 /PRNewswire/ — Millimeter Wave Technology Market is Segmented by Type (24GHz – 57GHz, 57GHz – 86GHz, 86GHz – 300GHz), by Application (Communication, Medical, Automobile, Military, Imaging, Other): Global Opportunity Analysis and Industry Forecast, 2024-2030.

The global Millimeter Wave Technology market was valued at USD 832.6 million in 2023 and is anticipated to reach USD 3182 million by 2030, witnessing a CAGR of 20.6% during the forecast period 2024-2030.

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Major Factors Driving the Growth of Millimeter Wave Technology Market:

The market for millimeter wave (mmWave) technology is mainly driven by the growing need for wireless communication at high speeds, especially with the introduction of 5G networks. Faster data transmission rates and reduced latency are made possible by mmWave technology, and these features are essential for applications like IoT devices, augmented reality (AR), virtual reality (VR), and driverless cars. The industry is developing even faster due to the increasing demand for bandwidth-intensive services like improved telephony and high-definition video streaming. Furthermore, the broad deployment of mmWave technology is facilitated by developments in semiconductor technology and the creation of small and effective mmWave components. The market is propelled ahead in large part by regulatory assistance as well as rising expenditures in infrastructure and research.

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TRENDS INFLUENCING THE GROWTH OF THE MILLIMETER WAVE TECHNOLOGY MARKET

One major factor propelling the millimeter wave technology industry is the growing need for fast wireless communication. Faster and more dependable internet access is desperately needed given the growth of data-intensive applications and the proliferation of smart devices. Operating in the 24 GHz to 86 GHz range, millimeter wave technology provides significant bandwidth and fast data transfer rates, which makes it perfect for fulfilling these requirements. Next-generation wireless networks, such as 5G, which are expected to provide previously unheard-of speeds and minimal latency, are made possible by this technology and will help meet the growing demands of contemporary digital communication.

One major element propelling the millimeter wave technology market’s growth is the rollout of 5G networks. For 5G technology to provide high-speed, low-latency connectivity, millimeter waves play a major role. Millimeter wave frequencies are required for 5G infrastructure rollout, including small cells and backhaul solutions. In addition to improving mobile broadband services, this expansion opens up new possibilities for cutting-edge applications like industrial automation, smart cities, and driverless cars. The need for millimeter wave technology is expected to rise significantly as 5G networks are implemented in more nations, driving market expansion.

The market for millimeter wave (mmWave) technology is mainly driven by the growing need for wireless communication at high speeds, especially with the introduction of 5G networks. Faster data transmission rates and reduced latency are made possible by mmWave technology, and these features are essential for applications like IoT devices, augmented reality (AR), virtual reality (VR), and driverless cars. The industry is developing even faster due to the increasing demand for bandwidth-intensive services like improved telephony and high-definition video streaming. Furthermore, the broad deployment of mmWave technology is facilitated by developments in semiconductor technology and the creation of small and effective mmWave components. The market is propelled ahead in large part by regulatory assistance as well as rising expenditures in infrastructure and research.

The market for millimeter wave technology is expanding because of applications that need very high data transfer rates and low latency, which are served by the 57 GHz–86 GHz frequency spectrum. In densely populated areas, this frequency is necessary for backhaul solutions that enable effective communication between small cell networks in 5G infrastructure. It also enables cutting-edge technology including high-resolution radar systems and wireless HD video transmission. The market is being driven ahead by the growing usage of these high-frequency bands for sophisticated communication solutions as well as the demand for improved bandwidth and connection in contemporary applications.

Millimeter wave technology is being more widely used in the automobile sector, especially in advanced driver assistance systems (ADAS) and driverless cars. Adaptive cruise control, blind spot monitoring, and object detection all depend on millimeter wave radar sensors. These sensors deliver high-resolution data and perform well in a variety of weather scenarios, which is crucial for the security and efficiency of autonomous driving systems. The incorporation of millimeter wave technology is becoming more common as the automotive industry strives towards higher levels of vehicle automation and safety features, which is fueling market development.

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MILLIMETER WAVE TECHNOLOGY MARKET SHARE ANALYSIS

The market for millimeter wave technology is dominated by North America due to the region’s early adoption of cutting-edge innovations and massive expenditures in 5G infrastructure. The U.S. is home to several R&D operations and significant technological businesses, both of which support market expansion. The dominance of the region is further reinforced by government measures aimed at improving communication networks and the growing demand for high-speed internet services. The extensive use of millimeter wave technology in industries including healthcare, automotive, and telecommunications strengthens North America’s position as the industry leader.

Key Players:

BridgeWave CommunicationsKeysight TechnologiesNECSAGE MillimeterSiklu CommunicationAviat NetworksFarran TechnologyMillimeter Wave ProductsMillivision TechnologiesVubiq NetworksE-Band CommunicationsSmiths GroupL3 TechnologiesProxim Wireless

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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!

–  Millimeter Wave Radar Level Measuring Instrument Market

–  77G Millimeter Wave Radar Market

–  The global Millimeter Wave Absorbing Materials market was valued at USD 56 million in 2023 and is anticipated to reach USD 86.7 million by 2030, witnessing a CAGR of 5.7% during the forecast period 2024-2030.

–  The global market for Millimeter Wave Absorber was estimated to be worth USD 49 million in 2023 and is forecast to a readjusted size of USD 107.6 million by 2030 with a CAGR of 5.7% during the forecast period 2024-2030

–  Millimeter Wave Measuring Instrument Market

–  The global Automotive Millimeter Wave (MMW) Radar market size is expected to reach USD 11710 million by 2029, growing at a CAGR of 4.3% from 2023 to 2029.

–  The global Test and Measurement Equipment market was valued at USD 11810 million in 2023 and is anticipated to reach USD 18710 million by 2030, witnessing a CAGR of 6.4% during the forecast period 2024-2030.

–  The global market for 60GHz mmWave Radar was estimated to be worth USD 24 million in 2023 and is forecast to a readjusted size of USD 275.8 million by 2030 with a CAGR of 38.3% during the forecast period 2024-2030

–  4D mmWave Radar Chip Market

–  The global Wave Power Generation Equipment market was valued at USD 27 million in 2023 and is anticipated to reach USD 118.7 million by 2030, witnessing a CAGR of 21.1% during the forecast period 2024-2030.

–  Wave Pools Market

–  Bulk Acoustic Wave Devices Market

–  Wave Energy Converters Market

–  The global Strain Wave Gearing Devices market was valued at USD 427 million in 2023 and is anticipated to reach USD 882.7 million by 2030, witnessing a CAGR of 10.8% during the forecast period 2024-2030.

–  The global Bulk Acoustic Wave Delay Line market was valued at USD 187 million in 2023 and is anticipated to reach USD 286.1 million by 2030, witnessing a CAGR of 5.8% during the forecast period 2024-2030.

–  The global Surface Acoustic Wave Filter market was valued at USD 4814 million in 2023 and is anticipated to reach USD 8359.6 million by 2030, witnessing a CAGR of 8.5% during the forecast period 2024-2030.

–  The global renewable energy market was valued at USD 881.7 billion in 2020, and is projected to reach USD 1,977.6 billion by 2030, growing at a CAGR of 8.4% from 2021 to 2030.

–  The global Backward Wave Oscillator market is projected to reach USD 18 million in 2029, increasing from USD 13 million in 2022, with the CAGR of 4.2% during the period of 2023 to 2029.

–  The global Traveling Wave Tubes (TWT) revenue was USD 764.4 million in 2022 and is forecast to a readjusted size of USD 1044 million by 2029 with a CAGR of 4.5% during the forecast period (2023-2029).

–  The global Strain Wave Gearing Devices revenue was USD 427 million in 2022 and is forecast to a readjusted size of USD 882.7 million by 2029 with a CAGR of 10.8% during the forecast period (2023-2029).

–  Millimeter Wave Connectors Market

–  Automotive Millimeter Wave 4D Radar Market

–  Millimeter Wave Oscillator Market

–  The global market for Millimeter Wave RF Modules was estimated to be worth USD 122 million in 2023 and is forecast to a readjusted size of USD 3657.7 million by 2030 with a CAGR of 61.7% during the forecast period 2024-2030

–  Automobile Millimeter Wave Compatible Emblem Market

–  Millimeter Wave Sensors and Modules

–  Millimeter Wave Human Body Security Screening Equipment Market

–  Automotive Millimeter Wave Radar PCB Market

–  Millimeter Wave Body Scanner Market

–  Millimeter Level Cable Seal Market

–  Millimeter Wave Radar for Smart Elderly Care Market

–  The global 77 GHz Automotive Millimeter Wave Radar PCB market was valued at USD 187 million in 2023 and is anticipated to reach USD 473 million by 2030, witnessing a CAGR of 13.5% during the forecast period 2024-2030.

–  4D Millimeter Wave Imaging Radar Market

–  The global market for 60GHz mmWave Radar was estimated to be worth USD 24 million in 2023 and is forecast to a readjusted size of USD 275.8 million by 2030 with a CAGR of 38.3% during the forecast period 2024-2030

–  Vehicle 4D Millimeter Wave Radar Market

–  5G Millimeter Wave Radio Frequency Chips Market

–  Millimeter Wave Radar Circuit Board Market

–  Millimeter Wave Radar Semiconductor Sensor Market

–  Millimeter Wave Frequency Converter Market

–  Millimeter Wave Ceramic Dielectric Resonators Market

–  Portable Millimeter Wave Therapeutic Device Market

–  The global Millimeter Wave Active Phased Array Antenna market is projected to reach USD 549.4 million in 2029, increasing from USD 396 million in 2022, with the CAGR of 5.0% during the period of 2023 to 2029.

–  Calibrated Variable Waveguide Attenuators Market

–  Stage Micrometer Market

–  Variable Waveguide Attenuators Market

–  The global RF Front End MMIC market was valued at USD 9013.5 million in 2023 and is anticipated to reach USD 23980 million by 2030, witnessing a CAGR of 15.0% during the forecast period 2024-2030.

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Technology

Edge Data Center Market to Grow by USD 45.1 Billion (2025-2029), Driven by Video Streaming Demand and AI Redefining the Market Landscape – Technavio

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NEW YORK, Jan. 7, 2025 /PRNewswire/ — Report with market evolution powered by AI – The global edge data center market size is estimated to grow by USD 45.1 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of almost 32.8% during the forecast period. Rising demand for video streaming services is driving market growth, with a trend towards implementation of ai in data centers. However, monitoring edge data center equipment across multiple locations poses a challenge. Key market players include 365 Data Centers, Compass Datacenters LLC, DC BLOX Inc., Dell Technologies Inc., Digital Realty Trust Inc., Eaton Corp plc, EdgeConneX Inc., Equinix Inc., Flexential Corp., Friedhelm Loh Stiftung and Co. KG, Fujitsu Ltd., Hewlett Packard Enterprise Co., Hitachi Ltd., Huawei Technologies Co. Ltd., International Business Machines Corp., Johnson Controls International Plc, Panduit Corp., Schneider Electric SE, Vapor IO Inc., Vertiv Holdings Co., ATC IP LLC; Cisco Systems Inc; Endeavor Business Media LLC, IBM, NVIDIA Corporation, CommScope.

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Edge Data Center Market Scope

Report Coverage

Details

Base year

2024

Historic period

2019 – 2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 32.8%

Market growth 2025-2029

USD 45102 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

24.8

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 47%

Key countries

US, Germany, China, Canada, UK, France; Italy; Spain; India; Japan; Australia; South Korea; Brazil; Mexico; Argentina; UAE; Saudi Arabia; South Africa

Key companies profiled

365 Data Centers, Compass Datacenters LLC, DC BLOX Inc., Dell Technologies Inc., Digital Realty Trust Inc., Eaton Corp plc, EdgeConneX Inc., Equinix Inc., Flexential Corp., Friedhelm Loh Stiftung and Co. KG, Fujitsu Ltd., Hewlett Packard Enterprise Co., Hitachi Ltd., Huawei Technologies Co. Ltd., International Business Machines Corp., Johnson Controls International Plc, Panduit Corp., Schneider Electric SE, Vapor IO Inc., Vertiv Holdings Co, ATC IP LLC; Cisco Systems Inc; Endeavor Business Media LLC, IBM, NVIDIA Corporation, CommScope

Market Driver

Edge data centers are gaining popularity in today’s digital world due to the increasing demand for real-time data analysis, low latency, and improved application performance. Big data, artificial intelligence, cloud, streaming services, and 5G are driving this trend. Edge data centers enable businesses to process data closer to the source, reducing network traffic and improving the streaming experience for customers. E-commerce platforms like Walmart, branch offices, production floors, and remote sites benefit from edge data centers for data processing and industrial automation. Industries like logistics, healthcare, and retail are adopting edge data centers for AI applications, machine learning, and natural language processing. Companies like Dell Technologies, Equinix Inc, and EdgeConneX Inc provide components and services for edge data centers, including modular data centers, IT racks & enclosures, DCIM software, and colocation services. The edge data center market is expected to grow as more industries seek to enhance business agility and application performance while minimizing operating costs. Additionally, industries like gaming & entertainment, industrial automation, and autonomous automobiles are expected to drive further growth in the edge data center market. However, challenges such as dust, heat, and vibration must be addressed to ensure reliable remote operations. 

Edge data centers are enhancing energy efficiency through the application of Artificial Intelligence (AI). By computing server, power system, and cooling system performance, AI enables faster decision-making and efficiency. Service providers utilize AI in data center automation software to reduce human resources and optimize energy use. Additionally, AI facilitates energy-efficient cooling through controlled mechanical cooling processes, maximizing power usage effectiveness in the overall data center operation. 

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Market Challenges

Edge data centers are becoming essential for businesses to address the challenges of big data, artificial intelligence, cloud, streaming services, and 5G. These centers enable real-time data analysis, improved application performance, and better streaming experience for customers. E-commerce platforms like Walmart and industrial applications in sectors such as logistics, healthcare, and retail rely on edge data centers for business agility and reduced latency. Edge data centers are also crucial for industrial automation, autonomous automobiles, and AI applications like machine learning and natural language processing. Dell Technologies, Equinix Inc, EdgeConneX Inc, and vXchnge are key players in this market, offering components, services, and IT racks & enclosures. Edge data centers help businesses operate efficiently by minimizing network traffic and managing operating costs. Modular data centers are a popular solution for branch offices, production floors, and remote sites. However, challenges such as dust, heat, vibration, and remote operations require specialized solutions.Managing edge data centers involves overseeing unique power and cooling systems at multiple locations. Accurately maintaining an inventory of assets across these sites necessitates real-time monitoring of cabinet equipment, including servers, networking devices, power distribution units (PDUs), and patch panels, as well as infrastructure devices and structured cabling. To effectively address this challenge, end-users require a centralized dashboard displaying real-time power and environmental status of their edge data centers. This information enables early detection of potential issues such as hot spot formation, power capacity limitations, and redundancy loss. However, to efficiently manage IT equipment from the core to the edge data center, organizations must employ Network Operations Center (NOC) technicians and experts.

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Segment Overview 

This edge data center market report extensively covers market segmentation by

End-user 1.1 IT and telecommunication1.2 Manufacturing and automotive1.3 BFSI1.4 Healthcare and life sciences1.5 OthersComponent 2.1 IT infrastructure2.2 General construction2.3 Power management systems2.4 Cooling systems2.5 OthersGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and AfricaFacility size

1.1 IT and telecommunication- The edge data center market in the IT and telecommunication sectors refers to the provision of decentralized facilities designed to cater to the specific needs of these industries. Edge data centers, located near end-users or data sources, offer low latency and high-bandwidth processing and storage. In the IT segment, they support services like cloud computing, CDNs, IoT, AI, and real-time analytics, by providing local processing power, storage, and network connectivity. Telecommunication companies benefit from edge data centers by minimizing latency, offering high bandwidth, and enabling localized data processing. These data centers also enhance reliability and security. In the telecom industry, they support activities such as NFV and SDN, optimizing network performance and reducing infrastructure costs. The growth of data-intensive applications, IoT devices, real-time analytics, and cloud-based services is driving the demand for edge data centers in both IT and telecommunication sectors, leading to market expansion during the forecast period.

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Research Analysis

The Edge Data Center Market is experiencing significant growth due to the increasing demand for real-time data analysis, low latency, and high performance in various industries. Big data, artificial intelligence, cloud, streaming services, and 5G are driving this trend, as businesses seek to improve business agility and enhance the streaming experience for customers. Edge data centers are being deployed in diverse settings, from e-commerce platforms and Walmart’s supply chain to branch offices, production floors, remote sites, and industrial automation. Edge data centers are essential for AI applications, machine learning, natural language processing, and other data-intensive tasks. However, they present unique challenges, such as managing operating costs, network traffic, and dealing with dust, heat, vibration, and other environmental factors. Dell Technologies and other key players are addressing these challenges with innovative solutions for remote operations and maintenance.

Market Research Overview

The Edge Data Center Market is experiencing significant growth due to the increasing demand for real-time data analysis and application performance in various industries. Big data, artificial intelligence, cloud, streaming services, and 5G are driving the need for data processing at the edge, closer to the source of data generation. Network traffic and latency are key concerns, as businesses seek to improve the streaming experience for customers, enhance business agility, and support industrial automation and AI applications. E-commerce platforms, branch offices, production floors, remote sites, and the logistics industry are among the sectors benefiting from edge data centers. Dust, heat, and vibration are challenges to be addressed in edge data center design and operations. Modular data centers, components, IT racks & enclosures, DCIM software, and services are essential for building and managing edge data centers. Industries such as healthcare & life science, retail & e-commerce, gaming & entertainment, and industrial automation are also leveraging edge data centers for data processing and AI applications, including machine learning and natural language processing. Dell Technologies, Equinix Inc, EdgeConneX Inc, and vXchnge are some of the companies providing edge data center solutions.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userIT And TelecommunicationManufacturing And AutomotiveBFSIHealthcare And Life SciencesOthersComponentIT InfrastructureGeneral ConstructionPower Management SystemsCooling SystemsOthersGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Technology

Sports Coaching Market , 36% of Growth to Originate from Europe, Technavio

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NEW YORK, Jan. 7, 2025 /PRNewswire/ — The global sports coaching market size is estimated to grow by USD 4.77 billion from 2025 to 2029, according to Technavio. The market is estimated to grow at a CAGR of 6.2% during the forecast period.

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Report Attribute

Details

Base Year

2024

Forecast period

2025-2029

Historic Data for

2019 – 2023

Segments Covered

Type (Sports camps and personalized trainings and Recreational camps), Application (Men, Women, and Kids), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Key Companies Covered

Challenger Sports, CMT Learning Ltd., Elle Football Academy, ESM Academy, Firstbeat Technologies Oy, FRONT RUSH LLC, Global Sports PD Network, Ignite Sport UK Ltd., IMG Academy, ISM Sports, Khelomore Sports Pvt. Ltd., Mentally Fit Institute, Neuro Training For Athletes, Smaller Earth Ltd., TENVIC, The Coach Crew, TrainingPeaks LLC, UK Coaching, and US Sports Camps

Regions Covered

North America, Europe, APAC, South America, and Middle East and Africa

Region Outlook

North AmericaEuropeAsiaRest of World

1. North America – Europe is estimated to contribute 36%. To the growth of the global market. The Sports Coaching Market report forecasts market growth by revenue at global, regional & country levels from 2017 to 2027. 

In 2024, North America held the largest share of the global sports coaching market, with the US being the primary contributor. The US is the leading market for sports coaching worldwide. The North American sports coaching market is projected to significantly contribute to the expansion of the global market. The continuous increase in sports participation fuels the demand for sports coaches and coaching services in the region. Government initiatives to encourage sports participation further boost market growth in North America.

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Segmentation Overview

Type 1.1 Sports camps and personalized trainings1.2 Recreational campsApplication 2.1 Men2.2 Women2.3 KidsGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Fastest growing segment:

The sports coaching market’s largest segment in 2024 was sports camps and personalized training. This sector’s growth is significant due to the increasing player participation in international sports and domestic leagues. In emerging countries, the launch of new domestic leagues, such as Pro Kabbadi League (PKL), Indian Super League (ISL), Hockey India League (HIL), and Premier Badminton League (PBL), provides young talents an opportunity to showcase their abilities. These leagues have been successful in identifying and nurturing new talents, leading to an increase in enrolment in sports coaching centers. Additionally, government initiatives to promote sports participation in countries like China, the US, and Singapore contribute to the segment’s growth. Overall, the sports camps and personalized training segment is expected to witness a year-over-year growth during the forecast period.

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Research Analysis

The Sports Coaching Market is experiencing significant growth due to the integration of software technology into coaching and training. Coaches and trainers are leveraging online platforms, smartphones, and laptops to provide real-time analysis and individualized assistance to athletes in various sports industries. Virtual platforms offer democratic, autocratic, and holistic coaching styles, allowing sportspersons to choose the approach that best suits their needs. Wearable devices like Fitbit trackers and smartwatches provide performance tracking and data analysis, enhancing training plans and virtual coaching sessions. Educational materials, video lectures, and customized training plans are also available online, offering professional advice and access to expertise that was once limited to in-person interactions. Overall, technology is revolutionizing the sports coaching landscape, enabling more effective and efficient training and performance analysis.

Market Overview

The Sports Coaching Market is experiencing significant growth due to the integration of software technology into coaching and training. Coaches and trainers are leveraging online platforms, smartphones, and laptops to connect with athletes, regardless of location. Virtual platforms and video analytics platforms enable data collection through biometric sensors, wearable devices like Fitbit trackers and smartwatches, and real-time performance tracking. Artificial Intelligence and Machine Learning are used for data analytics, software development, and hardware infrastructure. Schools and sports clubs are adopting these technologies for individualized assistance, performance analysis, communication tools, and training plans. Pricing models range from one-time license-based to subscription-based. Various sports, including baseball, fitness, soccer, basketball, swimming, and golf, are utilizing these technologies. Autocratic, democratic, and holistic coaching styles are being augmented by sports coaching platforms, virtual coaching sessions, and educational materials. Virtual reality technologies offer personalized coaching experiences, while video analysis and biomechanics provide professional advice. Referees, physiotherapists, physiologists, nutritionists, and sports scientists are also benefiting from these advancements. The Sports industry is embracing digital platforms for non-professional and professional sports, with baseball, fitness, soccer, basketball, swimming, and other sports segments adopting these technologies. Virtual simulations, gamification, interactive learning, leaderboards, badges, points, and polls are enhancing the user experience. Wearable technologies, such as heart rate monitors and performance metrics, offer real-time insights. Overall, the Sports Coaching Market is revolutionizing the way coaches, trainers, and athletes interact and improve performance.

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Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation
 7 Customer Landscape
 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Technology

CNC Vertical Machining Centers Market to Grow by USD 1.09 Billion (2025-2029), Driven by Demand for CNC Tools and AI-Powered Market Evolution – Technavio

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NEW YORK, Jan. 7, 2025 /PRNewswire/ — Report on how AI is driving market transformation – The global CNC vertical machining centers market size is estimated to grow by USD 1.09 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of almost 5% during the forecast period. Increasing demand for cnc-incorporated machine tools is driving market growth, with a trend towards emergence of autonomous and electric cars. However, availability of horizontal machining centers and refurbished vertical machining centers poses a challenge. Key market players include Bharat Fritz Werner Ltd., Chiron Group SE, DMG MORI Co. Ltd., DN Solutions Co. Ltd., Gebr. Heller Maschinenfabrik GmbH, GF Machining Solutions AG, Haas Automation Inc., Hurco Companies Inc., Jyoti CNC Automation Ltd., Komatsu Ltd., Makino Milling Machine Co. Ltd., Maschinenfabrik Berthold Hermle AG, Maxmill Machinery Co. Ltd., Micromatic Machine Tools Pvt. Ltd., Mitsubishi Electric Corp., Okuma Corp, SCM GROUP Spa, Shandong Luzhong Machine Tool Co. Ltd., Shenyang Yiji Machine Tool Sales Co. Ltd., and Yamazaki Mazak Corp..

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CNC Vertical Machining Centers Market Scope

Report Coverage

Details

Base year

2024

Historic period

2019 – 2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 5%

Market growth 2025-2029

USD 1090.8 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.8

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 38%

Key countries

US, China, Germany, Japan, Canada, Italy, India, South Korea, UK, and France

Key companies profiled

Bharat Fritz Werner Ltd., Chiron Group SE, DMG MORI Co. Ltd., DN Solutions Co. Ltd., Gebr. Heller Maschinenfabrik GmbH, GF Machining Solutions AG, Haas Automation Inc., Hurco Companies Inc., Jyoti CNC Automation Ltd., Komatsu Ltd., Makino Milling Machine Co. Ltd., Maschinenfabrik Berthold Hermle AG, Maxmill Machinery Co. Ltd., Micromatic Machine Tools Pvt. Ltd., Mitsubishi Electric Corp., Okuma Corp, SCM GROUP Spa, Shandong Luzhong Machine Tool Co. Ltd., Shenyang Yiji Machine Tool Sales Co. Ltd., and Yamazaki Mazak Corp.

Market Driver

The CNC vertical machining centers market is experiencing significant growth due to increased demand for metal components in various industries. Hard metals, steel, and aluminum are popular materials in manufacturing, particularly for complex jobs and industrial processes. Templates and cams are essential tools for CNC machining, enabling efficient manufacturing of metal components. Vertical machining centers are ideal for manufacturing molds, die cavities, engine propellers, and impellers. Advanced CNC controls, high-speed spindles, and automatic tool changers enhance production capacity and efficiency. Giant manufacturing countries lead the market, with trends towards automation technologies such as collaborative robots and lights-out production. The manufacturing industry segment is a major consumer, with the electrical industry, automotive, and aerospace sectors driving demand. Raw materials like steel, carbon, and electricity costs impact CNC machining capacity. CNC machining centers are used for milling, drilling, and cutting various workpieces, including metals and wood. The market for CNC machining centers is expanding, with applications in the industrial automation market, electronic products, semiconductors, and consumer electronics. Horizontal machining centers and CNC milling machines are alternative solutions, with 3-axis and advanced tool axes offering flexibility for milling and rotary cutting. The market for CNC machining centers is expected to grow, driven by the increasing demand for automation and the need for high-precision components. 

The global shift towards electric vehicles (EVs) is significantly impacting the CNC vertical machining centers market. With the elimination of traditional internal combustion engine (ICE) components like exhaust systems, pistons, valves, crankshafts, engine blocks, and exhaust headers, the demand for machined parts is decreasing. This reduction in demand may lead to market contraction, potentially affecting numerous vendors in this complex industry. Simultaneously, the automotive sector’s growing focus on autonomous vehicles presents new opportunities for innovation and growth in manufacturing processes. 

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Market Challenges

The CNC vertical machining centers market faces several challenges in manufacturing metal components for various industries. Hard metals and steel require high CNC machining capacity and advanced controls for efficient production. Aluminum, used in flat works and manufacturing molds and die cavities, presents challenges due to its heat sensitivity. Manufacturing complex jobs in hard metals, steel, and aluminum for industries like aerospace, automotive, and heavy machinery requires vertical machining centers with high-speed spindles and automatic tool changers. The cost of raw materials, such as steel and carbon, as well as electricity, impacts the profitability of CNC machining centers. The manufacturing industry segment seeks automation technologies like collaborative robots and lights-out production for increased efficiency. In contrast, horizontal machining centers cater to industries producing large components, such as engine propellers and impellers. The industrial automation market’s growth in sectors like the electrical industry, electronic products, semiconductors, and consumer electronics drives the demand for CNC machining centers. CNC milling machines, with their tool axes, are essential for milling and cutting workpieces made of metal, wood, and other raw materials. The use of CAM software and rotary cutters enhances the productivity of CNC machining centers. Ferrous and non-ferrous metals, including metals used in industrial processes, present unique challenges for CNC machining centers. Overall, the CNC machining centers market must adapt to these challenges to remain competitive in the evolving manufacturing landscape.The CNC vertical machining center market in mature industries of the US and Europe is facing challenges due to rising labor costs and stringent emission norms, leading to the closure of several manufacturing operations. This surplus of used equipment has increased the availability of refurbished CNC vertical machining centers in the market, making it a cost-effective option for industries in developing countries like China, India, and Singapore. However, the affordability of refurbished machines may hinder the demand for new CNC vertical machining centers. Additionally, CNC horizontal machining centers can serve as viable alternatives, adding complexity to the market dynamics.

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Segment Overview 

This cnc vertical machining centers market report extensively covers market segmentation by  

Product 1.1 Less than 5-axis1.2 5-axis or moreEnd-user 2.1 Automotive2.2 Aerospace2.3 Metal fabrication2.4 OthersGeography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa

1.1 Less than 5-axis-  CNC vertical machining centers come in three variants: 2.5-axis, 3-axis, and 4-axis. In 2.5-axis machines, only two axes can rotate simultaneously. In contrast, 3-axis and 4-axis models enable the cutting tool to move around three axes (X, Y, and Z) and a rotating X-axis, respectively. While 2.5-axis machines are mostly outdated, 4-axis models have gained popularity. However, 5-axis CNC vertical machining centers lead the market due to their extensive capabilities. For simple metal designs like gear cutting, 3-axis and 4-axis machines are preferred due to their affordability. The adoption of 3+2 CNC vertical machining centers is increasing, offering a cost-effective way to upgrade capabilities. SMEs and start-ups, constrained by budgets, will continue to drive demand for 3-axis CNC vertical machining centers, fueling market growth.

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Research Analysis

CNC Vertical Machining Centers (VMCs) are essential machines in the manufacturing industry for producing metal components from hard metals, steel, aluminum, and various ferrous and non-ferrous metals. VMCs utilize Computer Numerical Control (CNC) technology, including templates, cams, and rotary devices, to precisely machine parts along the spindle axis. These machines are widely used in the manufacturing industry segment for producing complex components in large quantities. CNC VMCs can be integrated with collaborative robots for lights-out production and CAM software for optimized tool path planning. Rotary cutters and milling machines are common types of VMCs used for cutting and milling materials like wood, steel, and electrical industry components. The tool axes in VMCs can be configured to accommodate various cutting tools, enabling the production of intricate parts for diverse industries, including automotive, aerospace, and industrial automation market.

Market Research Overview

CNC Vertical Machining Centers (VMCs) are essential machines used in manufacturing industry for producing metal components from hard metals, steel, and aluminum. VMCs utilize Computer Numerical Control (CNC) technology, templates, cams, and rotary devices to machine complex jobs on flat works, molds, die cavities, engine propellers, and impellers. Industrial processes, including manufacturing activities in giant manufacturing countries, increasingly rely on VMCs for their high precision and efficiency. VMCs can be distinguished from Horizontal Machining Centers (HMCs) by their vertical spindle axis. Advanced CNC controls, high-speed spindles, automatic tool changers, and automation technologies such as collaborative robots enable lights-out production. CNC machining capacity is influenced by raw material costs, including steel, carbon, and electricity, as well as the manufacturing industry segment. CNC machining centers are used in various industries, including electrical, automotive, aerospace, and consumer electronics, to produce parts for semiconductors, printed circuit boards, heat sinks, and more. Milling, rotary cutters, and milling machines are common applications for VMCs, which can machine metal, wood, and other materials using tool axes.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductLess Than 5-axis5-axis Or MoreEnd-userAutomotiveAerospaceMetal FabricationOthersGeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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