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Pulished Date April, 2021
ID: 8974
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Millimeter Wave Technology Market Analysis - Segmented by License Type (Fully Licensed Frequency, Light Frequency & Unlicensed Frequency), By Frequency Band (Below 57GHz, Between 57GHz & 300GHz & above 300 GHz), By Product Type (Scanner Systems, Radar & Satellite Systems & Telecommunication Equipment by Application - Telecommunication, Consumer, Radio Astronomy, Automotive, Commercial, Consumer & Others Like Manufacturing, Healthcare, Industrial, And Transportation), By Region ((North America (U.S., Canada), Europe (UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of EU), Asia Pacific (India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC), Latin America (Brazil, Mexico, Argentina, Chile), Middle East and Africa (KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA)) - Global Industry Analysis on Size, Share, Growth, Trends, Demand, Landscape & Forecast | 2021 - 2026

Pulished: April, 2021
ID: 8974
Pages: 120

Millimeter Wave Technology Market Analysis (2021 - 2026)

As per our latest report, the size of the Millimeter Wave Technology Market is proliferating with a CAGR of 35.2% and expected to reach $2.3 billion by the end of 2026 from 2021 with decent growth during the forecast period.

Millimetre wave technology is one of the prominent electronic applications, and its usage has drastically increased over time. It consists of wireless radio transmission, a potential substitute for Wi-Fi (802.11n), and millimeter-wave for IPTV. With the help of millimeter waves, almost 10 Gbit/s data rates can be produced, which enables videos of high quality can be transferred wirelessly to laptop or PC or HDTV screens. Also, wireless projectors and video cameras use millimeter wave-based components. 

Recent Developments:

  • Keysight Technologies launched a broadband millimeter-wave network analyzer solution in 2017, and it supplies almost 120 GHz.  
  • In April 2017, Bridge Wave Communications developed a Flex4G-3000 system for fiber-quality interdepartmental connectivity, which is used by a university in New Jersey, and it is deployed by New Jersey Business Systems (US).

Growth Drivers

The major factors driving the growth of the market include the rise in demand of smart driver’s assistant cars, increasing demand in defence and security systems, aerospace, and military to establish communications between places, increase in need for high internet speeds due to development of wide range of mobile applications that consumes vast amounts of data.

Key Challenges

The challenges faced by the millimeter-wave market are high fuel consumption and radiation due to increasing transmitting power to increase the range and also installations of new towers and other devices, which will increase the investment and maintenance costs. Also, the installation of towers may lead to deforestation as they require ample space. Toxicity of materials like GaN, InP, SiGe, which are significant components of several materials used in circuits are highly hazardous to the environment, which is a considerable challenge to the growth of millimeter wave technology.

The impact of this restraint is currently high and is expected to increase in the coming future due to the expected significant rise in the usage of Millimetre wave technology.

Opportunities for Millimetre Wave Technology Market

Factors like increased dependence on the internet for media exchange, video conferencing, online gaming, streaming, and others, necessitates organizations and commercial & residential applica-tions to have high internet speed. However, increasing demand for the applications of millimeter wave technology in defense, military, and aerospace sectors, such as for easy and faster exchange of information like, orders and commands from one place to another with high connectivity and security with the usage of various applications like electronic warfare, radar, tactical, and satellite communications are the factors that are anticipated to create opportunities for the global millime-ter wave technology market in future.

REPORT COVERAGE

REPORT METRIC

DETAILS

Market Size Available

2018 – 2024

Base Year

2018

Forecast Period

2019 - 2024

Segments Covered

By License Type, Frequency Band, Product Type, Application & Region.

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities.

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa.

Market Leaders Profiled

E-Band Communications, LLC (US), Renaissance Electronics & Communications (HXi) (US), Smiths Group Plc. (UK), Vubiq Networks, Inc. (US), Siklu Communication Ltd (Israel), L3 Technologies, Inc. (US), NEC Corporation (Japan), Proxim Wireless (US).

 

Global Millimeter Wave Technology Market is segmented & sub-segmented according to License Type, Frequency Band, Applications, Product Type & Region with evaluated size & forecast for each segment until 2024.

  • Millimeter Wave Technology Market Analysis by License Type - Fully Licensed Frequency, Light Frequency & Unlicensed Frequency

  • Millimeter Wave Technology Market Analysis by Frequency Band - below 57GHz, between 57GHz & 300GHz, and above 300 GHz

  • Millimeter Wave Technology Market Analysis by Product Type - Scanner Systems, Radar & Satellite Systems, And Telecommunication Equipment

  • Millimeter Wave Technology Market Analysis by Application - Telecommunication, Consumer, Radio Astronomy, Automotive, Commercial, Consumer & Others Like Manufacturing, Healthcare, Industrial, And Transportation. 

  • Millimeter Wave Technology Market Analysis by Region - North America, Asia Pacific, Europe & Middle East, and Africa.

Some of the prominent companies dominating the Millimeter Wave Technology Market are E-Band Communications, LLC (US), Renaissance Electronics & Communications (HXi) (US), Smiths Group Plc. (UK), Vubiq Networks, Inc. (US), Siklu Communication Ltd (Israel), L3 Technologies, Inc. (US), NEC Corporation (Japan), Proxim Wireless (US).

Key Points

  • Millimetre-wave technologies get mostly avoided or undeveloped, even it is highly accessible. 
  • The forecast is analyzed quantitatively from 2018 to 2026 and discusses the financial benefits, threats, and competitors in the industry.
  • This study includes detailed and accurate information about retail automation market analysis, trends, and future predictions to identify the following investment areas.
  • The report delivers information regarding key drivers, challenges, applications, classifications, and opportunities of the market.

 

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