The global Millimeter Wave Technology Market was valued at USD 290.12 million in 2016 and is projected to reach USD 4,376.01 million by 2025, growing at a CAGR of 35.19% from 2017 to 2025.
Radio waves in this band have wavelengths from ten to one millimetre, giving it the name millimetre band or millimetre wave, sometimes abbreviated MMW or mmW. With technological advancements and more focus on cell backhaul networks, the market is growing at a high CAGR.
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1. Market Drivers
1.1 Increasing Mobile data traffic and demand for bandwidth application
1.2 Growingusage of millimeter wave in small cell backhaul networks
1.3 Growing demand for innovative applications
1.4 High potential for usage in consumer electronics
2. Market Restraints
2.1 Adverse Impact on the Environment
1. Global Millimeter Wave Technology Market, by Frequency:
1.1 Band Between 24 GHz and 57 GHz
1.2 Band Between 57 GHz and 86 GHz
1.3 Band Between 86 GHz and 300 GHz
2. Global Millimeter Wave Technology Market, by Product:
2.1 Scanner Systems
2.1.1 Active Systems
2.1.2 Passive Systems
2.2 Radar and Satellite Communications Systems
2.2.1 Perimeter Surveillance Radar Systems
2.2.2 Application-Specific Radar Systems
2.2.3 Satellite Communication Systems
2.3 Telecommunication Equipment
2.3.1 Mobile Backhaul Equipment
188.8.131.52 Small-Cell Equipment
184.108.40.206 Macrocell Equipment
3. Global Millimeter Wave Technology Market, by Application:
3.1 Mobile and Telecom
3.1.1 5G Cellular (Inception in 2020/2021)
3.2 Consumer and Commercial
3.5 Automotive and Transportation
3.5.1 Autonomous Vehicle
3.6 Military, Defense, and Aerospace
4. Global Millimeter Wave Technology Market, by License Type:
4.1 Light Licensed Frequency Millimeter Wave
4.2 Unlicensed Frequency Millimeter Wave
4.3 Fully Licensed Frequency Millimeter Wave
5. Global Millimeter Wave Technology Market, by Component:
5.1 Antennas and Transceiver Components
5.2 Frequency Sources and Related Components
5.3 Communication and Networking Components
5.4 Imaging Components
5.5 RF and Radio Components
5.6 Sensors and Controls
5.7 Interface Components
5.8 Power and Battery Components
6. Global Millimeter Wave Technology Market, by Region:
6.1 North America (U.S., Canada, Mexico)
6.2 Europe (Germany, UK, France, Rest of Europe)
6.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
6.4 Latin America (Brazil, Argentina, Rest of Latin America)
6.5 Middle East & Africa
The major players in the market are as follows:
1. Bridgewave Communications, Inc.
2. Keysight Technologies
3. NEC Corporation
4. Sage Millimeter, Inc.
5. Siklu Communication Ltd
6. Aviat Networks, Inc.
7. Farran Technology
8. Millimeter Wave Products Inc.
9. Millivision Technologies
10. Vubiq Networks, Inc
11. E-Band Communications, LLC
12. Smiths Group PLC.
13. L3 Technologies, Inc.
15. Proxim Wireless
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Millimeter Wave Technology Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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