Global Millimeter Wave (MMW) Technology Market is anticipated to reach USD 8.69 billion owing to the increasing need for high-speed data transfer along with the overuse of the existing spectrum in industries like telecommunication and security services. Millimeter waves are the electromagnetic waves with wavelength from 1 to 10 millimeters that are used for high-speed wireless broadband communications. They play an important role in communication, control and guidance, radar, radio astronomy, clinical medicine, spectroscopy and remote sensing technology. Millimeter wave frequency enables effective undertaking of large capacity satellite-ground communication or ground relay communication.
The end users of millimeter wave (MMW) technology comprising from corporate data centers to iPhone users are demanding innovative technologies to deliver the bandwidth higher than before. From among several technologies available for delivering the bandwidth, fiber optic cable is regarded as the major one. However, when economic factors are considered, fiber optics is costly and its installation is complex.
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Millimeter wave technology has the potential to offer optimal bandwidth delivery as compared to fiber optics, but without the installation and financial challenges of installing fiber. Millimeter wave (MMW) technology is hence gaining greater traction as an alternative to fiber optics medium. The major areas of application of millimeter wave (MMW) technology are military & defense, security services, telecommunication, and medical and health care.
The growing government initiatives and funding, research and development activities by the private and public sectors, need for high-speed data transfer and the rising demand for bandwidth-intensive applications are few driving factors of millimeter wave (MMW) technology industry. Since these waves are transmitted through line-of-sight buildings there are some factors that reduce its practical applications and make them less efficient. The devices compatible with millimeter wave technology need development since majority of devices are well-suited with microwaves, which increases the overall cost of product.
These factors are expected to hinder the growth of millimeter wave technology market in near future. Owing to the rising need for higher bandwidth, the millimeter waves are expected to play an important role in the progression of fifth-generation technology. The research & development along with inspection of 5G technology are some definite key factors that are projected to drive the market growth for mobile and telecom functions in the years to come. Hence, several businesses are taking efforts to upgrade their research & development activities to announce modernizations in the segment.
Millimeter wave technology industry is categorized on the basis of product, frequency band, license type, application, and geography. On the basis of product, the market is divided into scanner systems, radar and satellite communication systems, telecommunication equipment, and others. Telecommunication equipment is estimated to hold larger market owing to the increase in number of mobile subscribers demanding for efficient mobile solutions with optimal connectivity and connection speed.
In terms of frequency band, millimeter wave (MMW) technology market is classified into band between 30 GHz and 57 GHz, band between 57 GHz and 86 GHz, and band between 86 GHz and 300 GHz. Based on license type, the market is divided into Light licensed frequency, unlicensed frequency, and fully licensed frequency.
On the basis of application, millimeter wave (MMW) technology industry is divided into mobile & telecommunication, consumer & commercial, healthcare, industrial, automotive and transportation, military, defense, and aerospace, and imaging. Owing to the research & developments, and testing of 5G technology, mobile and telecommunication is predicted to hold larger share of the market.
Geographically, millimeter wave technology market is segmented as North America, Asia Pacific, Europe, and RoW. Due to increasing need for high-speed data transfer and overuse of the existing spectrum in the telecom sector, North America is expected to dominate the market in near future.
The prominent players in millimeter wave technology industry include Proxim Wireless, E-Band Communications, LLC, L3 Technologies, Inc., LightPointe Communications, Inc., NEC Corporation, BridgeWave Communications, Renaissance Electronics & Communications (HXi), Smiths Group Plc., Vubiq Networks, Inc., QuinStar Technology Inc., ELVA-1, Wireless Excellence Ltd., and Siklu Communication Ltd.
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MMW Technology Product Outlook (Revenue, USD Million; 2014 – 2025)
• Telecommunication Equipment
• Imaging & Scanning Systems
• Radar & Satellite Communication Systems
MMW Technology Component Outlook (Revenue, USD Million; 2014 – 2025)
• Antennas & Transceivers
• Control Devices
• Frequency Converters
• Passive Components
MMW Technology Application Outlook (Revenue, USD Million; 2014 – 2025)
• Military & Defense
• Automotive & Transport
• Electronics & Semiconductor
MMW Technology Frequency Band Outlook (Revenue, USD Million; 2014 – 2025)
• Other Frequency Bands
MMW Technology Regional Outlook (Revenue, USD Million; 2014 – 2025)
• North America
• Asia Pacific
• South America and The Middle East & Africa (MEA)
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