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

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

Report Format: PDF+Excel | Report ID: SR112023A2737
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Market Overview:

The global millimeter wave technology market size reached US$ 1.7 Billion in 2021. Looking forward, IMARC Group 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:

IMARC Group 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
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)

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