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.
Market Driver:
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.
Market Opportunity:
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.
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.
|
Report Features |
Specifics |
|---|---|
|
Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
|
Base Year for Market Calculation |
2020 |
|
Forecasted Period |
2021-2027 (2021 estimated year, forecasted up to 2027) |
|
Measured Units |
Value (USD Million) |
|
Segments Included |
Component, Product, Frequency Range, and Region |
|
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Millimeter Wave Technology Market, by Component
Millimeter Wave Technology Market, by Product
Millimeter Wave Technology Market, by Frequency Range
Millimeter Wave Technology Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE MILLIMETER WAVE TECHNOLOGY MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY
