Global Millimeter Wave Technology Market to Grow at 20.1% During 2023-2028, Spurred by the Roll-Out of 5G Network

November 18, 2020 | Electronics and Semiconductors

According to the recent report by IMARC Group, titled “Millimeter Wave Technology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global millimeter wave technology market reached a value of US$ 2.1 Billion in 2022. Millimeter wave (mmWave or MMW) refers to an electromagnetic (radio) wave within the spectrum from 30 to 300 gigahertz (GHz) and wavelength from 1 to 10 mm. It is also classified as the extremely high frequency (EHF) or very high frequency (VHF) by the International Telecommunication Union (ITU). Radio waves have high atmospheric attenuation due to which they are absorbed by the gases in the atmosphere, resulting in a short-range. They can transfer a bulk of data at high speed and help in increasing the bandwidth capacity, performance, and reliability. As a result, they are used in an array of services and products like point-to-point wireless local area networks (WLANs), radio astronomy, security screening, remote sensing, airport security scanners, and automotive radars.

Global Millimeter Wave Technology Market Trends:

The rising demand for wireless technologies and high-speed networks represents one of the major growth-inducing factors for the market. Moreover, the continuation of 5G projects by major telecom operators despite the outbreak of the coronavirus disease (COVID-19) has provided a thrust to the market growth. For instance, the Government of China supported the aggressive roll-out of high-speed mobile networks by 5G infrastructure telecommunication carriers in April 2020. Besides this, millimeter wave technology is utilized in the healthcare sector in therapies to treat diseases like diabetes, cardiovascular ailment, depression, and gastrointestinal disorders. Furthermore, several industry players are investing in research and development to tap into the potential of millimeter wave technology in sectors like defense and military, and automotive. With the evolution of new technologies, MMW is expected to become an integral part of the next-generation network. On account of these factors, the market is expected to grow at a CAGR of 20.1% during 2023-2028.

Market Summary:

Based on the component, the market has been divided into amplifiers, antennas and transceivers, oscillators, passive components, control devices, frequency converters, and others.
On the basis of the product, the market has been categorized into radar and satellite communication systems, telecommunication equipment, imaging and scanning systems, and others.
Based on the frequency band, the market has been segregated into 30 GHz - 57 GHz, 57 GHz - 96 GHz, and 96 GHz - 300 GHz.
On the basis of the license type, the market has been classified into unlicensed, light licensed, and fully licensed frequency millimeter wave.
Based on the application, the market has been segmented into military and defense, healthcare, telecommunication, automotive and transport, electronics and semiconductor, and others.
Region-wise, the market has been segmented into North America (Canada and the United States), Europe (Germany, the United Kingdom, France, Russia, Italy, Spain, and others), Latin America (Brazil, Mexico, and others), Asia Pacific (India, South Korea, Australia, Indonesia, Japan, China, and others), and the Middle East and Africa.
The competitive landscape of the market has been analyzed in the report, with some of the key players being Siklu Communication Ltd., Smiths Group Plc, Vubiq Networks Inc., Aviat Networks Inc., AXXCSS Wireless Solutions Inc., L3 Technologies Inc., Millimeter Wave Products Inc., Mistral Solutions Pvt. Ltd. (AXISCADES Engineering Technologies Ltd.), NEC Corporation, Farran Technology Ltd., Fastback Networks Inc., and Keysight Technologies Inc.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Component, Product, Frequency Band, License Type, Application, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	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.
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group
30 N Gould St, Ste R
Sheridan, WY (Wyoming) 82801 USA
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

Need more help?

Speak to our experienced analysts for insights on the current market scenarios.
Include additional segments and countries to customize the report as per your requirement.
Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
For further assistance, please connect with our analysts.

Global Millimeter Wave Technology Market to Grow at 20.1% During 2023-2028, Spurred by the Roll-Out of 5G Network

Purchase options Year End sale

Single User License ~~$2499~~ $2249
Five User License ~~$3499~~ $2974
Corporate License ~~$4499~~ $3599

Inquire Before Buying

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Speak to an Analyst

Request Brochure

Get in Touch With Us

UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.