According to the recent report by IMARC group, titled “Millimeter Wave Technology Market: Global Industry Trends, Size, Growth, Opportunity and Forecast 2021-2026”, the Global Millimeter Wave Technology Market Size Reached US $ 1.10 Billion In 2020 and expects the market to show strong growth over the next five years. The report provides detailed analysis of the market by segments and region and The report provides detailed analysis of the market on the basis of region, component, product, frequency band, license type and application as well, the report analyzes the competitive landscape of the market.
Baseline year: 2020
Forecast year: 2021-2026
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Definition and application of industry:
The 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 mass of data at high speed and help increase the capacity, performance and reliability of bandwidth. 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 controls, 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 related industries. These observations will be incorporated into the report.
Market trends and drivers:
The growing demand for wireless technologies and broadband networks is one of the major growth factors in the market. In addition, the continuation of 5G projects by the main telecom operators despite the coronavirus epidemic (COVID-19) has given a boost to the growth of the market. For example, the Chinese government supported the aggressive deployment of high-speed mobile networks by 5G infrastructure telecommunications operators in April 2020. In addition, millimeter wave technology is used in the healthcare sector in therapies for treat diseases like diabetes, cardiovascular disease. , depression and gastrointestinal disturbances. In addition, several industry players are investing in research and development to harness the potential of millimeter wave technology in sectors such as defense and 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 on the basis of region, component, product, frequency band, license type, and application.
Breakdown by component:
- Antennas and transceivers
- Control devices
- Frequency converters
- Passive components
Breakdown by product:
- Telecommunication equipment
- Imaging and scanning systems
- Radar and satellite communication systems
Distribution by frequency band:
- 30 GHz – 57 GHz
- 57 GHz – 96 GHz
- 96 GHz -300 GHz
Breakdown by license type:
- Light Licensed Frequency Millimeter Wave
- Frequency millimeter wave without license
- Fully Licensed Frequency Millimeter Wave
Breakdown by application:
- Military and Defense
- Automotive and transport
- Health care
- Electronics and Semiconductor
Breakdown by region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Who are the major key players in the Millimeter Wave Technology Market?
The report provides detailed analysis of the 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. Ltd. (AXISCADES Engineering Technologies Ltd.), NEC Corporation, Siklu Communication Ltd., Smiths Group Plc and Vubiq Networks Inc.
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