Millimeter Wave Technology Market: Summary
The Global Millimeter Wave Technology Market is projected to reach a value of over USD 6.42 billion by 2027 at a CAGR of around 26.2%.
Millimeter waves are extremely high frequencies (EHF) are well suited for 5G operations. As compared to frequencies which are used in mobile device i.e. 5 GHz, millimeter wave technology allows transmission on frequencies between 30 GHz and 300 GHz. The wavelength of these frequencies are in between 1 mm and 10 mm hence these frequencies are known as millimeter waves. In current scenario, only radar systems and satellites use millimeter waves. But, some mobile network providers have also started using millimeter waves to transmit the data between two fixed points.
Millimeter Wave Technology Market: Drivers & Opportunity
- Proliferation of Millimeter Wave Technology in Consumer Electronics
In past years, millimeter wave technology is only used for radar and satellite communication. But in current scenario, these waves are used in consumer electronics. The millimeter-wave antennas for smartphones are one of the key components to complete the transition to 5G mobile networks. In Feb 2020, SAMSUNG launched new Galaxy S20 5G lineup of smartphones, including two 5G models that are the first capable of tapping both sub-6 GHz and millimeter wave spectrum bands.
Hence, increasing smartphone and rising sales of advanced smartphone market will have expected to drive the market during forecast period.
Currently, 4G LTE technology uses lower frequency spectrum, generally below 1 GHz, to deliver data at great speed. But in recent years, many global players are investing in 5G market for providing better speed, reliability, and efficient Internet to the end users. Millimeter wave technology will allow a 5G network in all current applications as well as ones that have not been created. In some days, 5G will power data intensive applications which includes traffic management, connected homes, automobile, entertainment, and supply chain management among others. Hence, it will create many opportunities for the millimeter wave technology market during growth period.
Millimeter Wave Technology Market: Key Segments
- Segmentation based on component: Sensors & Controls, Imaging Components, Antennas & Waveguide, RF & Radio, Transceivers, Frequency Meters, Communication & Networking, and Others
- Segmentation based on product: Telecommunication Equipment, Radar Communication System, and Satellite Communication System
- Segmentation based on Frequency Range: 57-66 GHz, 67-91 GHz, 92-95 GHz, and Above 95 GHz
- Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America with individual country-level analysis.
Millimeter Wave Technology Market: Report Scope
The report on the millimeter wave technology market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2021-2027 (2021 estimated year, forecasted up to 2027)
Value (USD Million)
Component, Product, Frequency Range, and Region
North America, Asia-Pacific, Europe, Middle East & Africa, South America
Key Companies Covered
- Keysight Technologies (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- BridgeWave Communications (REMEC Broadband Wireless Networks LLC)
- NEC Corporation
- Galion LLC
- Siklu Inc.
- Aviat Networks, Inc.
- Smiths Group plc
- L3Harris Technologies, Inc.
- Trex Enterprises Corporation
- QuinStar Technology, Inc.
- Millimeter Wave Products Inc.
- E-Band Communications, LLC.
- Farran Technology
- Other Key Companies
Millimeter Wave Technology Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Millimeter Wave Technology Market, by Component
- Sensors & Controls
- Imaging Components
- Antennas & Waveguide
- RF & Radio
- Frequency Meters
- Communication & Networking
Millimeter Wave Technology Market, by Product
- Telecommunication Equipment
- Radar Communication System
- Satellite Communication System
Millimeter Wave Technology Market, by Frequency Range
- 57-66 GHz
- 67-91 GHz
- 92-95 GHz
- Above 95 GHz
Millimeter Wave Technology Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions Answered By The Report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Millimeter Wave Technology Market Providers
- Millimeter Wave Technology Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Millimeter Wave Technology Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE MILLIMETER WAVE TECHNOLOGY MARKET STUDY