Millimeter Wave Technology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

October 2022
144 pages
ID: 5997555
Format: PDF
IMARC Group

Summary

Table of Contents

The global millimeter wave technology market size reached US$ 1.7 Billion in 2021. Looking forward, the analyst expects the market to reach US$ 5.8 Billion by 2027, exhibiting a growth rate (CAGR) of 21.55% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Millimeter wave (MMW or mmWave), also known as extremely high frequency (EHF), is an electromagnetic or radio wave that lies within the frequency range of 30-300 GHz with a wavelength between 1-10 mm. MMW technology is capable of transmitting massive amounts of data at high speed with minimal latency, which assists in increasing the performance, reliability, and bandwidth and scalable capacities. Consequently, the technology is extensively utilized in radio astronomy, remote sensing, automotive radars, wireless sensing, imaging, security screening and telecommunications.

The increasing telecom infrastructural deployments on account of the escalating demand for high-speed networks in the residential and commercial sectors represent one of the key factors stimulating the market growth. Moreover, with the incorporation of MMW technology in radio and satellite communication systems that form an integral part of national security, the security processes have become more efficient and reliable. This, along with the rising penetration of wireless communication technologies and e-computing services, is acting as another growth-inducing factor. Moreover, millimeter-wave therapy (MWT) is utilized for treating various diseases, such as cardiovascular and gastrointestinal ailments, diabetes, dermatitis, and depression, which, in turn, is also strengthening the market growth. Furthermore, on account of the increasing internet usage and the escalating need for bandwidth and speed-boosting technologies, the leading players are focusing on introducing MMW technology to meet the capacity requirements of 5G networks. However, due to the outbreak of the coronavirus disease (COVID-19) and several restrictions imposed by governments of various countries, the launch of 5G networks that relies on MMW technology has been delayed.

Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global millimeter wave technology market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, product, frequency band, license type and application.

Breakup by Component:
Antennas and Transceivers
Amplifiers
Oscillators
Control Devices
Frequency Converters
Passive Components
Others

Breakup by Product:
Telecommunication Equipment
Imaging and Scanning Systems
Radar and Satellite Communication Systems
Services

Breakup by Frequency Band:
30 GHz - 57 GHz
57 GHz - 96 GHz
96 GHz -300 GHz

Breakup by License Type:
Light Licensed Frequency Millimeter Wave
Unlicensed Frequency Millimeter Wave
Fully Licensed Frequency Millimeter Wave

Breakup by Application:
Telecommunication
Military and Defense
Automotive and Transport
Healthcare
Electronics and Semiconductor
Others

Breakup by Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Aviat Networks Inc., AXXCSS Wireless Solutions Inc., Farran Technology Ltd., Fastback Networks Inc., Keysight Technologies Inc., L3 Technologies Inc., Millimeter Wave Products Inc., Mistral Solutions Pvt. Ltd. (AXISCADES Engineering Technologies Ltd.), NEC Corporation, Siklu Communication Ltd., Smiths Group Plc and Vubiq Networks Inc.

Key Questions Answered in This Report
1. What was the size of the global millimeter wave technology market in 2021?
2. What is the expected growth rate of the global millimeter wave technology market during 2022-2027?
3. What has been the impact of COVID-19 on the global millimeter wave technology market?
4. What are the key factors driving the global millimeter wave technology market?
5. What is the breakup of the global millimeter wave technology market based on the component?
6. What is the breakup of the global millimeter wave technology market based on the product?
7. What is the breakup of the global millimeter wave technology market based on the frequency band?
8. What is the breakup of the global millimeter wave technology market based on the license type?
9. What is the breakup of the global millimeter wave technology market based on the application?
10. What are the key regions in the global millimeter wave technology market?
11. Who are the key players/companies in the global millimeter wave technology market?

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