MILLIMETER WAVE TECHNOLOGY MARKET TO REACH USD 6.42 BILLION BY 2027 | CAGR 26.2% – FORENCIS RESEARCH

Millimeter Wave Technology MarketΒ - Global Industry Analysis and Forecast 2020 to 2027

Global Millimeter Wave Technology Market: Key Highlights

  • According to the new market research report Millimeter Wave Technology Market by Component (Sensors & Controls, Imaging Components, Antennas & Waveguide, RF & Radio, Transceivers, Frequency Meters, Communication & Networking, and Others), by Product (Telecommunication Equipment, Radar Communication System, and Satellite Communication System) by Frequency Range (57-66 GHz, 67-91 GHz, 92-95 GHz, and Above 95 GHz), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) – Global Forecast (2020 to 2027)”, the global Millimeter Wave Technology market is estimated to reach USD 6.42 Billion by 2027 at a CAGR of around 26.2% during the review period.
  • Millimeter wave spectrum is the band of spectrum between 30 GHz and 300 GHz. This spectrum can be used for high-speed wireless communications as seen with the latest 802.11ad Wi-Fi standard.

Source: National Instruments

Source: National Instruments

Global Millimeter Wave Technology Market: Key Market Dynamics

  • Proliferation of millimeter wave technology in consumer electronics and increasing demand for millimeter wave technology in radar and security applications will expected to drive the market during forecast period.
  • However, delay in standardization in spectrum allocation will restrain the market during forecast period.
  • Evolution of 5G will expected to become an opportunity for the mmWave technology market. 

Millimeter Wave Technology Market

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Global Millimeter Wave Technology Market: Regional Overview

  • North America

The millimeter wave technology market in the North America region is projected to witness to grow with highest CAGR during forecast period. Increasing adoption of wireless technologies, communication technologies, and early adoption of technological infrastructure will have impacted positively on the growth rate of the region. The presence of global 5G manufacturers such as Qualcomm Technologies Inc. are expected to increase the market share of millimeter wave technology market in North America.

  • Asia-Pacific

Asia-Pacific is expected to grow at faster rate during forecast period. Growing population, growing consumer electronics market, and presence IT & telecommunication organizations are expected to drive the mmWave market in Asia-Pacific region. India, Japan, South Korea, and China will have expected to hold the largest market share in APAC. Increasing need of satellite communication, growing digitization in military & defense industry will add fuel in the growth of millimeter wave technology market during forecast period.

Global Millimeter Wave Technology Market: Key Players Overview

  • NEC Corporation:

The company provides various IT solutions for manufacturing, retail, finance sector, and various service industries. NEC provides network control platform systems and operating services for operations management, along with equipment for network implementation. In January 2020, the company launched millimeter-wave distributed antenna radio unit improving the channel quality for indoor 5G applications.

  • BridgeWave Communications (REMEC Broadband Wireless Networks LLC):

The company provide highly-reliable, cost-effective, high capacity wireless solutions in microwave and millimeter wave technology. In 2014, BridgeWave was acquired by REMEC Broadband Wireless Networks, a leading OEM that has shipped more than 1M microwave and millimeter wave radios over the last 12 years. The company partnered with Fujitsu to Navigator microwave system (6GHz – 42GHz) and the Flex4G-10000 true fiber capacity millimeter wave system (80GHz) to optimize backhaul networks for the highest capacity and range, while minimizing capital investments and reducing operational costs.

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Published : 2020-08-04