Global Millimeter Wave Technology Market is valued at USD 2.03 Billion in 2021 and expected to reach USD 20.03 Billion by 2028 with a CAGR of 38.7% over the forecast period.
Global Millimeter Wave Technology Market: Global Size, Trends, Competitive, And Historical & Forecast Analysis, 2022-2028: The increase in broadband and cellular speeds is likely to drive the development of the millimeter wave technology market over the forecast timeframe. Furthermore, the increased use of millimeter waves in small cell backhaul systems is expected to boost the millimeter wave technology industry forward.
Millimeter wave (MMW or mmWave), commonly referred to as exceptionally high frequency (EHF), is indeed an electrical or radio wave with a frequency ranging from 1 to 10 mm with a velocity spectrum of 30-300 GHz. MMW innovation is capable of sending vast volumes of data at fast speeds with low delay, hence improving performance, dependability, bandwidth, and scalability.
As a result, radio astronomy, distant sensing, vehicle radars, cordless sensing, imaging, surveillance screenings, and telecommunications all make substantial use of the technologies. The potential usage of millimeter wave technology in 5g networks, as well as its global breadth in defense, aerospace, military, and satellite telecommunication sectors, are projected to create substantial chances for the millimeter wave technology market to expand over the projected period.
The Covid-19 pandemic has had a significant impact on the worldwide millimeter wave technology market. The increased usage of communications equipment benefited the millimeter-wave internet business more than it would have otherwise. Amid the global pandemic, major telecom companies confirmed the continuance of 5G deployment initiatives. The longer terms of limitation, however, delayed the deployment owing to a disturbance in capital spending projections. The postponement in the announcement of 5G standards by key industry participants reduced the growth rate of millimeter wave technology market to a point.
The global Millimeter Wave Technology market is segmented based on the component, product, frequency band, application end-use, and region & country level. Based on component, the global Millimeter Wave Technology market is segmented into Frequency Converters, Amplifiers, Oscillators, Antennas & Transceivers, Control Devices, Passive Components, and others. By product, the market is segmented into Imaging & Scanning Systems, Telecommunication Equipment, and Radar & Satellite Communication Systems. By frequency band, the global Millimeter Wave Technology market is segmented into V-Band and E-Band. By application, the global Millimeter Wave Technology market is segmented into Military & Defense, Telecommunications, Automotive & Transport, Electronics & Semiconductor, Healthcare, and Security.
The regions covered in the global Millimeter Wave Technology market report are North America, Europe, Asia-Pacific, Latin America, and the rest of the World. Based on country level, the market of global Millimeter Wave Technology is sub divided into U.S., Mexico, Canada, U.K., France, Germany, China, Italy, India, Japan, Southeast Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.
Key Players of Global Millimeter Wave Technology Market
Some major key players for the global Millimeter Wave Technology market report cover prominent players like
On October 31, 2022; Movandi, a pioneer in innovative 5G RF and millimeter-wave (mmWave) innovations and applications, announced a collaboration with Rakuten Mobile to broaden 5G outdoor as well as indoor mmWave connectivity reportage and potential in Japan through the use of Movandi's intelligent repeater and BeamXR Open-RAN innovation. This will be expanded to India and Asia in the near future.
On October 27, 2022; Advanced Info Service (AIS), Thailand's biggest mobile provider, plans to deploy millimeter wave spectrum in the nation next year, once suitable devices are accessible on the marketplace. AIS is now working to build its 5G network to encompass all 77 Thai provinces. The company's 5G network presently covers roughly 80% of the nation, with a goal of achieving 85% by the conclusion of the year.
On November 29, 2022; Telkomsel, Indonesia's global online telecommunications business and the first 5G service supplier, partnered with Ericsson and Qualcomm to initiate a trial of a Fixed Wireless Access (FWA) system utilizing 5G extended-range innovation with a frequency band of 800 MHz at 26GHz millimeter-wave (mmWave), as authorized by the Republic of Indonesia's Ministry of Communication and Informatics. The 5G mmWave technology's vast reach, massive capacities, and low latency characteristics provide enormous promise for using FWA innovation and promoting the equality, betterment, and advancement of nationwide digitalization.
Highly functional infrastructures in the United States, South Korea, Japan, and China need 5G connectivity for its functioning. This necessitates the processing of massive amounts of data at fast speeds and low latency. Because of its high frequency and enormous data-carrying capability across short ranges, the 5G network employs millimeter wave technology to provide faultless operation in wireless connection. For example, Huawei predicts that the proportion of 5G network subscribers in China would reach one-third by 2025. As a result of the necessity for higher transmission bandwidth levels for network effectiveness, demand for 5G innovation in the United States, South Korea, Japan, and China is a key driver for the millimeter wave technology market .
With the introduction of high technology, wireless infrastructures will encounter severe congestion during the coming five years. This would accelerate the transition from current 3G and 4G capabilities to 5G. The cumulative data rates offered by 5G innovation are predicted to be 1,000 times as well as 100 times quicker, correspondingly, than the present 3G and 4G information rates. Globally, 5G network installations are likely to expand in 2021, laying the groundwork for widespread acceptance of 5G subscriptions. 5G subscriber adoption is predicted to be substantially quicker than LTE over the coming five years.
Along with the earlier accessibility of devices, a crucial element is China's early participation in 5G contrasted to LTE, for which the nation was not among the initial countries to start. With sustained impetus for 5G, there will be a huge rise in 5G subscribers by the end of 2025, with China accounting for a large portion of these subscriptions. China Telecom (CHA), China Mobile (CHL), and China Unicom (CHU) are among the leading Chinese service companies that have introduced commercialized 5G solutions for USD 18 per month for 30 GB. By 2025, there are estimated to be 2.6 billion 5G subscribers worldwide, representing further than 26% of total mobile subscribers at the time.
One of the essential criteria in millimeter wave technology is the speedy implementation of a 5G network. For quicker communication, the 5G infrastructure employs millimeter wave technology, which employs high band frequencies. However, because of its restricted range, it may be obstructed by structures or walls. Furthermore, it is impacted by pollutants in the environment and tampered with by the existence of electrical poles, which are hazardous to people, animals, and trees. 5G networks are being deployed in industrialized nations including the United States, Canada, Germany, and France, which will certainly boost demand for millimeter wave technology while also posing risks to people, animals, and the ecosystem. Such obstacles impede market expansion.
Geographically, North America is expected to generate the most revenue throughout the projection period. The existence of various firms dealing with 5G technology, followed by a spike in 5G network deployment in the area, and rising improvements in informational and telecommunication innovation are among the primary factors expected to fuel the industry in North America’s development. For example, the region’s deployment of 5G as a proportion of earlier versions of mobile network technology is expected to exceed 60% by the conclusion of 2025, up from roughly 10% in 2020. Furthermore, by the conclusion of 2026, internet subscriber saturation in the area is expected to be approximately 88%.
Asia Pacific is a key contributor to the development of the millimeter wave technology market. Because of the rising usage of millimeter wave technologies in communication infrastructure and cellular and telecom industries, the industry in this area is expected to develop at the fastest pace throughout the forecast period. Developments in the telecom industry seem to promise in the Asia Pacific, since most nations, including China, Japan, and South Korea, had been more effective in curbing virus propagation than the US and European nations.
China has relaxed limitations on industrial unit activities and worker mobility. Based on the Chinese Ministry of Industry and Information Technology, China promised to have installed more than 1.3 million 5G ground stations in December 2021. Furthermore, Huawei mentioned 90 commercial 5G agreements during its April 2022 Worldwide Analyst Summit. Huawei reportedly claims over 1,000 "corporate" 5G agreements in 20 sectors, referring to enterprise/private wireless connections.
Middle East and Africa
|2018 - 2021
|2021 - 2028
|Market Size in 2021:
|USD 2.03 Billion
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2028:
|USD 20.03 Billion
|Tables, Charts & Figures:
|CableFree, BridgeWave Communications, Denso Corporation, Farran Technology, E-Band Communications, LLC, Fujitsu, Keysight Technologies, L3 Technologies, Inc., Hubei YJT Technology, Mitsubishi Electric Corporation, MMW Biomedical, Millimeter Wave Products Inc., NEC Corporation, Siklu Communication, SAGE Millimeter, Inc., and Wireless Excellence.
|By Component, By Product, By Frequency Band, By Application.
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, Africa, Rest of the Middle East and Africa
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