According to the recent report of the IMARC group, entitled “Millimeter Wave Technology Market: Global Industry Trends, Size, Growth, Opportunities and Forecast 2021–2026,” The global millimeter wave technology market size reached a value of US$1.10 billion in 2020 and is expected to witness strong growth in the market over the next five years. The report provides detailed market analysis by segments and region and the report provides detailed market analysis on the basis of region, component, product, frequency band, license type and Also application, the report analyzes the competitive landscape of the market.
Reference year: 2020
Forecast year: 2021-2026
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Industry definition and application:
Millimeter wave (mmWave or MMW) refers to an electromagnetic (radio) wave in the spectrum of 30 to 300 gigahertz (GHz) and a wavelength of 1 to 10 mm. It is also classified as Extremely High Frequency (EHF) or Very High Frequency (VHF) by the International Telecommunication Union (ITU). Radio waves have high atmospheric attenuation due to which they are absorbed by gases in the atmosphere resulting in short range. They can transfer a large amount of data at high speed and help increase bandwidth capacity, performance and reliability. As a result, they are used in a range of services and products such as point-to-point wireless local area networks (WLANs), radio astronomy, security screening, remote sensing, airport security scanners and automotive radars.
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To note: We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.
Market Trends and Drivers:
The growing demand for wireless technologies and high-speed networks represents one of the major drivers of market growth. Moreover, the pursuit of 5G projects by major telecom operators despite the outbreak of the coronavirus disease (COVID-19) has given impetus to the growth of the market. For example, the Chinese government supported the aggressive deployment of high-speed mobile networks by 5G infrastructure telecom operators in April 2020. In addition, millimeter wave technology is used in the health sector in therapies for treat diseases such as diabetes, cardiovascular disease. , depression and gastrointestinal disorders. Additionally, several industry players are investing in research and development to harness the potential of millimeter wave technology in sectors such as defence, military, and automotive. With the evolution of new technologies, MMW is expected to become an integral part of the next generation network.
Millimeter Wave Technology Market Segmentation:
The report has segmented the market based on region, component, product, frequency band, license type, and application.
Breakdown by component:
- Antennas and transceivers
- Control devices
- Frequency converters
- Passive components
Breakdown by product:
- telecommunications equipment
- Imaging and scanning systems
- Radar and satellite communication systems
Breakdown by frequency band:
- 30GHz – 57GHz
- 57GHz – 96GHz
- 96GHz -300GHz
Breakdown by license type:
- Light Licensed Frequency Millimeter Wave
- Unlicensed Frequency Millimeter Wave
- Fully Licensed Frequency Millimeter Wave
Breakdown by application:
- Military and Defense
- Automotive and Transportation
- Health care
- electronics and semiconductor
Breakdown by region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Who are the key players in the millimeter wave technology market?
The report provides a detailed analysis of market leaders including.
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. (AXISCADES Engineering Technologies Ltd.), NEC Corporation, Siklu Communication Ltd., Smiths Group Plc and Vubiq Networks Inc.
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