Report Ocean has released a research study titled “Millimeter Wave Technology Market .” This study offers precise economic forecasts, global assessments, and country-level insights. It provides a comprehensive view of the competitive market and includes an in-depth supply chain analysis to identify significant industry changes. The study explores the current market status, anticipated future growth, technological advancements, investment opportunities, market economics, and financial data. It thoroughly examines the market and offers insights based on a SWOT analysis of the industry.
Millimeter Wave Technology Market is valued at approximately USD $$ million in 2019 and is anticipated to grow with a healthy growth rate of more than $$% over the forecast period 2020-2027. Millimeter wave (MV) technology is a different type of electromagnetic wave technology. A millimeter wave creates the ultimate band of electromagnetic wave called radio wave, which runs at a frequency ranging between 20 GHz -300 GHz. In recent years, millimeter wave can be used for high-speed wireless broadband communications. 5G will bring mobility to MM Wave communications since the next-gen wireless network aim to serve more people and or even things with a major expansion of mobile services. In order to get the technology more useful and feasible, frequency forms one of the determining factors, which produces the MM technology suitable for several applications in different sectors.
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Some common application of MM wave technology is automotive, mobile & telecommunication, and healthcare. An increase in mobile data traffic and demand for bandwidth-intensive applications, along with increasing application in smart devices, such as wearables and smartphones, are the few factors responsible for the high CAGR of the market during the forecast period. According to Cisco, in western Europe’s mobile data traffic was around 6.5% of total internet traffic in 2016, and it would grow almost 12.2% of the total internet traffic by the year 2021. Moreover, as per Statista, the total number of cellular mobile-to-mobile (M2M) connections was nearly 121 million in Europe and is projected to grow with 195 million by 2019. This, in turn, is likely to strengthen the growth of millimeter wave technology market across the globe.
Major market player included in this report are:
Aviat Networks, Inc.
Bridgewave Communications, Inc.
E- Band Communications, LLC
Farran Technology Ltd.
Keysight Technologies, Inc.
Lightpointe Communications, Inc.
QuinStar Technology, Inc.
Sage Millimeter, Inc.
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- The millimeter-wave technology market has witnessed significant growth owing to its application in various industries such as telecommunications, automotive, healthcare, aerospace, and defense, driven by the need for high-speed data transmission and advancements in wireless communication.
- This technology utilizes radio frequencies in the millimeter-wave spectrum (30 GHz to 300 GHz), enabling high-bandwidth communication for 5G networks, backhaul solutions, and wireless gigabit internet connectivity.
- Telecommunications sector adoption of millimeter-wave technology is pivotal for the deployment of 5G networks, offering faster data speeds and reduced latency. It facilitates increased network capacity and supports the growing demand for data-intensive applications.
- The automotive industry leverages millimeter-wave technology for advanced driver-assistance systems (ADAS) and autonomous vehicles. Radar systems utilizing these frequencies enable accurate sensing, improving vehicle safety and navigation.
- In healthcare, millimeter-wave technology finds application in medical imaging systems such as millimeter-wave scanners and spectroscopy, aiding in non-invasive diagnosis, tissue imaging, and treatment planning.
- Aerospace and defense industries utilize millimeter-wave technology for radar systems, surveillance, imaging, and communication applications. It enables enhanced situational awareness, target detection, and secure communication in defense operations.
- Challenges in the millimeter-wave technology market include signal attenuation due to atmospheric conditions and obstacles, limited range compared to lower frequency signals, and the need for sophisticated antenna designs for effective transmission.
- Continuous advancements in semiconductor technology, antenna design, and signal processing have improved the efficiency and performance of millimeter-wave systems, addressing some of the challenges and expanding its applications.
- The future of the millimeter-wave technology market is promising with ongoing research and development focusing on overcoming technical limitations, improving signal propagation, and enhancing the range and reliability of millimeter-wave communication systems.
- With the increasing demand for high-speed data transmission, expanding 5G networks, and the evolving needs of industries for reliable and efficient communication solutions, the millimeter-wave technology market is poised for continued growth and innovation across diverse sectors.
The detailed segments and sub-segment of the market are explained below:
Imaging and Scanning Systems
Radar and Satellite Communication Systems
Antennas & Transceivers
Military & Defense
Automotive & Transport
By Frequency Band:
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Table of Contents:
- Executive Summary
- Market Overview
- Market Analysis
- Market Size and Forecast
- Market Trends
- Market Dynamics
- Market Segmentation
- Competitive Landscape
- Competitive Scenario
- Key Players
- Regional Analysis
- Regional Market Overview
- Market Size and Forecast by Region
- Product/Service Analysis
- Product/Service Overview
- Market Size and Forecast by Product/Service
- End-User Analysis
- End-User Overview
- Market Size and Forecast by End-User
- Industry Structure
- Key Findings and Recommendations
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