Abstract
Summary
Global Millimeter Wave Technology Market is valued at approximately USD 2.8 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 39.5% over the forecast period 2023-2030. The millimeter wave technology market refers to the segment of the telecommunications and wireless communication industry that encompasses the development, deployment, and utilization of high-frequency electromagnetic waves in the millimeter wave range for various applications, including wireless communication, radar systems, imaging, and sensing. The millimeter wave technology market is being driven by factors such as Increasing adoption of MMW technology in the telecommunication sector and emerging 5G technology and Growing demand from bandwidth-intensive applications and the telecommunication sector.
Millimeter wave technology is known for its ability to transmit large amounts of data quickly and is a key component of 5G networks, providing enhanced capacity and faster data transfer rates. According to IEEE Communications Society predicts a significant global surge in 5G subscriptions. 5G subscriptions increased by 446 million in 2022, Omdia forecasts 5G will account for 5.9 billion subscriptions in 2027 equivalent to a population penetration of 70.9%. Thus, the rising number of 5G subscriptions fueling the growth of the market. In addition to the growing demand for high speed and reliable network connectivity for IoT applications may create lucrative opportunities for the market. However, range limitations may hinder the growth of the market over the forecast year 2023-2030.
The key regions considered for the Global Millimeter Wave Technology Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the broader acceptance of technology in the region and early adopters of emerging technology. Asia Pacific is considered as a fastest growing region during the forecasted period due to developments & upgrades in telecom infrastructure and rapid deployment of 5G technology.
Major market player included in this report are:
Aviat Networks, Inc.
BridgeWave Communications Inc.
E-Band Communications, LLC
Farran Technology
Keysight Technologies
LightPointe Communications, Inc.
Millitech, Inc.
Trex Enterprises Corporation
QuinStar Technology, Inc.
Siklu Communication Ltd.
Recent Developments in the Market:
In February 2023, During the Mobile World Congress (MWC) 2023 event in Barcelona, Spain, Telefonaktiebolaget LM Ericsson and Qualcomm Technologies, Inc. unveiled the world's first commercially available mobile 5G mmWave network. The network, powered by Ericsson, allowed partners with compatible user devices to access the 5G mmWave network. The event primarily highlighted a variety of 5G mmWave devices powered by Qualcomm Technologies' Snapdragon mobile platforms.
Global Millimeter Wave Technology Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Product, Component, Application, Frequency Band, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope - Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
Telecommunication Equipment
Imaging & Scanning Systems
Radar & Satellite Communication Systems
By Component:
Antennas & Transceivers
Amplifiers
Oscillators
Control Devices
Frequency Converters
Passive Components
Others
By Application:
Telecommunications
Military & Defense
Automotive & Transport
Healthcare
Electronics & Semiconductor
Security
By Frequency band:
V-Band
E-Band
Other Frequency Band
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
Table of Contents
1 Executive Summary
1.1 Market Snapshot
1.2 Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1 Millimeter Wave Technology Market, by Region, 2020-2030 (USD Billion)
1.2.2 Millimeter Wave Technology Market, by Product, 2020-2030 (USD Billion)
1.2.3 Millimeter Wave Technology Market, by Component, 2020-2030 (USD Billion)
1.2.4 Millimeter Wave Technology Market, by Application, 2020-2030 (USD Billion)
1.2.5 Millimeter Wave Technology Market, by Frequency Band, 2020-2030 (USD Billion)
1.3 Key Trends
1.4 Estimation Methodology
1.5 Research Assumption
2 Global Millimeter Wave Technology Market Definition and Scope
2.1 Objective of the Study
2.2 Market Definition & Scope
2.2.1 Industry Evolution
2.2.2 Scope of the Study
2.3 Years Considered for the Study
2.4 Currency Conversion Rates
3 Global Millimeter Wave Technology Market Dynamics
3.1 Millimeter Wave Technology Market Impact Analysis (2020-2030)
3.1.1 Market Drivers
- 3.1.1.1 Increasing adoption of MMW technology in the telecommunication sector and emerging 5G technology
- 3.1.1.2 Growing demand from the bandwidth-intensive applications and the telecommunication sector
3.1.2 Market Challenges
- 3.1.2.1 Range limitations
3.1.3 Market Opportunities
- 3.1.3.1 Growing demand for high speed and reliable network connectivity for IoT applications
- 3.1.3.2 Autonomous vehicles technology
4 Global Millimeter Wave Technology Market Industry Analysis
4.1 Porter’s 5 Force Model
4.1.1 Bargaining Power of Suppliers
4.1.2 Bargaining Power of Buyers
4.1.3 Threat of New Entrants
4.1.4 Threat of Substitutes
4.1.5 Competitive Rivalry
4.2 Porter’s 5 Force Impact Analysis
4.3 PEST Analysis
4.3.1 Political
4.3.2 Economical
4.3.3 Social
4.3.4 Technological
4.3.5 Environmental
4.3.6 Legal
4.4 Top investment opportunity
4.5 Top winning strategies
4.6 COVID-19 Impact Analysis
4.7 Disruptive Trends
4.8 Industry Expert Perspective
4.9 Analyst Recommendation & Conclusion
5 Global Millimeter Wave Technology Market, by Product
5.1 Market Snapshot
5.2 Global Millimeter Wave Technology Market by Product, Performance - Potential Analysis
5.3 Global Millimeter Wave Technology Market Estimates & Forecasts by Product 2020-2030 (USD Billion)
5.4 Millimeter Wave Technology Market, Sub Segment Analysis
5.4.1 Telecommunication Equipment
5.4.2 Imaging & Scanning Systems
5.4.3 Radar & Satellite Communication Systems
6 Global Millimeter Wave Technology Market, by Component
6.1 Market Snapshot
6.2 Global Millimeter Wave Technology Market by Component, Performance - Potential Analysis
6.3 Global Millimeter Wave Technology Market Estimates & Forecasts by Component 2020-2030 (USD Billion)
6.4 Millimeter Wave Technology Market, Sub Segment Analysis
6.4.1 Antennas & Transceivers
6.4.2 Amplifiers
6.4.3 Oscillators
6.4.4 Control Devices
6.4.5 Frequency Converters
6.4.6 Passive Components
6.4.7 Others
7 Global Millimeter Wave Technology Market, by Application
7.1 Market Snapshot
7.2 Global Millimeter Wave Technology Market by Application, Performance - Potential Analysis
7.3 Global Millimeter Wave Technology Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
7.4 Millimeter Wave Technology Market, Sub Segment Analysis
7.4.1 Telecommunications
7.4.2 Military & Defense
7.4.3 Automotive & Transport
7.4.4 Healthcare
7.4.5 Electronics & Semiconductor
7.4.6 Security
8 Global Millimeter Wave Technology Market, by Frequency Band
8.1 Market Snapshot
8.2 Global Millimeter Wave Technology Market by Frequency Band, Performance - Potential Analysis
8.3 Global Millimeter Wave Technology Market Estimates & Forecasts by Frequency Band 2020-2030 (USD Billion)
8.4 Millimeter Wave Technology Market, Sub Segment Analysis
8.4.1 V-Band
8.4.2 E-Band
8.4.3 Other Frequency Bands
9 Global Millimeter Wave Technology Market, Regional Analysis
9.1 Top Leading Countries
9.2 Top Emerging Countries
9.3 Millimeter Wave Technology Market, Regional Market Snapshot
9.4 North America Millimeter Wave Technology Market
9.4.1 U.S. Millimeter Wave Technology Market
- 9.4.1.1 Product breakdown estimates & forecasts, 2020-2030
- 9.4.1.2 Component breakdown estimates & forecasts, 2020-2030
- 9.4.1.3 Application breakdown estimates & forecasts, 2020-2030
- 9.4.1.4 Frequency Band breakdown estimates & forecasts, 2020-2030
9.4.2 Canada Millimeter Wave Technology Market
9.5 Europe Millimeter Wave Technology Market Snapshot
9.5.1 U.K. Millimeter Wave Technology Market
9.5.2 Germany Millimeter Wave Technology Market
9.5.3 France Millimeter Wave Technology Market
9.5.4 Spain Millimeter Wave Technology Market
9.5.5 Italy Millimeter Wave Technology Market
9.5.6 Rest of Europe Millimeter Wave Technology Market
9.6 Asia-Pacific Millimeter Wave Technology Market Snapshot
9.6.1 China Millimeter Wave Technology Market
9.6.2 India Millimeter Wave Technology Market
9.6.3 Japan Millimeter Wave Technology Market
9.6.4 Australia Millimeter Wave Technology Market
9.6.5 South Korea Millimeter Wave Technology Market
9.6.6 Rest of Asia Pacific Millimeter Wave Technology Market
9.7 Latin America Millimeter Wave Technology Market Snapshot
9.7.1 Brazil Millimeter Wave Technology Market
9.7.2 Mexico Millimeter Wave Technology Market
9.8 Middle East & Africa Millimeter Wave Technology Market
9.8.1 Saudi Arabia Millimeter Wave Technology Market
9.8.2 South Africa Millimeter Wave Technology Market
9.8.3 Rest of Middle East & Africa Millimeter Wave Technology Market
10 Competitive Intelligence
10.1 Key Company SWOT Analysis
10.1.1 Company 1
10.1.2 Company 2
10.1.3 Company 3
10.2 Top Market Strategies
10.3 Company Profiles
10.3.1 Aviat Networks, Inc
- 10.3.1.1 Key Information
- 10.3.1.2 Overview
- 10.3.1.3 Financial (Subject to Data Availability)
- 10.3.1.4 Product Summary
- 10.3.1.5 Recent Developments
10.3.2 BridgeWave Communications Inc
10.3.3 E-Band Communications, LLC
10.3.4 Farran Technology
10.3.5 Keysight Technologies
10.3.6 LightPointe Communications, Inc
10.3.7 Millitech, Inc
10.3.8 Trex Enterprises Corporation
10.3.9 QuinStar Technology, Inc
10.3.10 Siklu Communication Ltd
11 Research Process
11.1 Research Process
11.1.1 Data Mining
11.1.2 Analysis
11.1.3 Market Estimation
11.1.4 Validation
11.1.5 Publishing
11.2 Research Attributes
11.3 Research Assumption