Millimeter Wave Technology Market - Forecast(2024 - 2030)
Millimeter Wave Technology Market Overview
Millimeter
Wave Technology Market is analysed to grow at a CAGR of 18.9% during the
forecast 2021-2026 to reach $2.56 billion by 2026. Millimeter radio waves also known as
Millimeter band which is electromagnetic waves with wavelength between 1 and 10 Millimeters.
They have respective frequencies ranging from 30-300 GHz with respect to the
applications. The Millimeter wave technology is applied mainly in Radio
Detection and Ranging (RADAR) systems. The increasing demand of higher
data transmission technologies and product miniaturization to offer high
bandwidth tend to significantly drive the Millimeter wave technology market
during the forecast period. Moreover, with the increasing trend of multi-input
multi-output (MIMO) communications, MMW is been offering interest in
understanding the capabilities of low-complexity approaches such as beamforming
that require only a single RF chain in MMW systems. This application further
helps in spatial processing for sensing and integrating information
pertaining to a location in space which tends to uplift its market growth in the Aerospace sector. However, for most Millimeter wavebands, rain attenuation leads
to a few dB of additional path loss within the distance range of 1 km which
degrades the signal caused by the electromagnetic interference. Consequently,
MMW technology is extensively utilized in various services such as radio broadcaster,
remote sensing, automotive radars, wireless
sensing, imaging and others which is analysed to create huge market growth
across the globe.
Report Coverage
The
report: “Millimeter Wave Technology Industry
Outlook – Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis
of the following segments of the Millimeter Wave Technology Market.
Key Takeaways
- Increasing demand of Broadband and high mobile speeds across the globe is analysed to significantly drive the Millimeter Wave Technology Market during the forecast period 2021-2026.
- Antennas & Transceiver Components are analysed to hold significant share in 2020 owing to its increasing adoption in the automotive sector for AEB (automatic emergency braking) applications.
- Mobile & Telecommunication sector is expected to hold the highest market share in the forecast period among other end-use industries owing to the increasing demand for wireless communications technologies and its huge adoption in different smartphones.
- Asia-Pacific
is analysed to hold the highest share in 2020 owing to the extensive
application of Millimeter wave technology in telecommunications and mobile
applications and increasing production of smartphones in this region.
Millimeter Wave Technology Market Segment Analysis - By Component
By
Component, the Millimeter Wave Technology Market Report is segmented into Antennas
& Transceiver Components, Frequency Sources, Communication &
Networking, Imaging Components, RF & Radio Components, Sensors &
Controls, Power & Battery Components, Interface Components and Others. Antennas
& Transceiver components is analysed to hold highest share 21.56% in 2020
owing to its increasing adoption in automotive sector. Millimeter wave
technology has profoundly impacted the evolution of the radar sensors and has
offered significant capabilities and efficiency improvements. The automotive industry
is expected to benefit from this development. The increasing AEB (automatic
emergency braking) applications in the 77 GHz radar system is one such
indicator which tend to bring major opportunities for its market growth during
the forecast period. With the recent focus on safety, such as the release of
new federal guidance for automated vehicles, such as Automated Vehicles 3.0 by
the National Highway Traffic Safety Administration (NHTSA), the market
potential has been extended for use in the mid-end cars which tend to bring
significant growth in its demand during the forecast period.
Millimeter Wave Technology Market Segment Analysis - By End-Use Industry
By End-Use Industry, the Millimeter Wave
Technology Market Report is segmented into Mobile & Telecommunication,
Consumer Electronics, Automotive, Healthcare, Industrial, Aerospace & Défense
and Others. Mobile & Telecommunication sector is analysed to hold the
highest share during the forecast period 2021-2026. The Millimeter waves are
considered to be the key enabling technology for successful deployment of 5th
generation wireless communication network across the globe which is a major growing
factor for its market growth in Mobile & Telecommunication sector. Increasing
investment and adoption of 5G technology network is expected to create a huge
demand for Millimeter wave technology equipment. The telecommunication industry
is going under a radical change with the growing data consumption and limited
bandwidth. Moreover, in last few years, the production and sales of smartphones,
tablets and other mobile devices has brought a significant growth in the demand
for wireless connectivity solutions. For instance, according to Global System for Mobile
Communications Association (GSMA) Mobile economy report 2021, there were
approximately 5.2 billion unique mobile subscribers in 2020 which was
forecasted to reach 5.7 billion by the end of 2025 among which smartphones
accounted for 60% of the connections and it is expected that the number would
reach approximately six billion in 2026, with an 80% share of smartphones. This
tend to bring significant growth in the demand of Millimeter wave technologies
for supreme wireless connectivity solutions, further driving its market growth
during the forecast period.
Millimeter Wave Technology Market Segment Analysis – By Geography
Asia-Pacific is analysed to be the major region with a share of 35% in 2020 for the Millimeter Wave Technology Market owing to the increasing application of Millimeter wave technology in Mobile & Telecommunication sector. Asia Pacific Millimeter wave technology market is primarily driven by increasing data consumption that has created the demand for efficient wireless backhaul solutions which tend to uplift the demand of telecommunication equipment further driving the market growth in this region. Moreover, with increasing infrastructural investment to set up 5th generation wireless network is analysed to be a driving factor for the growth of Millimeter wave technology in this region during the forecast period. For instance, as per the CISCO VNI, Asia Pacific accounted for 47% of global data traffic in 2021. This tend to create huge demand for the high bandwidth data transmission solutions which further drive the Millimeter wave technology market growth. Moreover, according to India Brand Equity Foundation (IBEF), mobile phone exports in India reached a record of $ 1.5 billion in 2020, of which 98% are expected to be smartphones. This increasing production of smartphones in this region is anticipated to bring huge demand for high broadband and mobile speed technologies which will drive the market growth of Millimeter wave technology in this region.
Millimeter Wave Technology Market Drivers
Increasing demand of broadband and 5G connectivity solutions will enhance Millimeter wave technology market growth
High broadband speed is a crucial part for a wide range of end-use applications. With the increasing demand of broadband
speed improvements which has resulted in increased consumption of
high-bandwidth content tend to be a major driving factor for the market growth
of Millimeter wave technology during the forecast period. In the next few years, the
global average broadband speed is expected to grow from 62.5 Mbps to >130
Mbps owing to several factors such as deployment and adoption of fibre-to-the-home
(FTTH), high-speed DSL and cable broadband adoption, as well as overall
broadband penetration. These factors have brought growth in the adoption of
various Millimeter wave technologies further driving its market growth during
the forecast period. According to Organization for Economic Co-operation and
Development (OECD), the communication network and service environment would
become more complex by 2023, and the 5G technology market would witness immense
growth due to the ongoing advancements in 5G network infrastructure. The unique
characteristics of Millimeter waves enable near-line-of-sight wireless networks
and make point-to-multipoint technology possible, enabling a single transmitter
to serve multiple transceivers at various locations. This tend to drive its
market growth during the forecast period.
Increasing application of Millimeter wave technology to reduce data traffic will propel the Millimeter Wave Technology Market
With
the increasing users of smartphones and adoption of cloud-based services across
various end-users, the data traffic issue has been a major factor that
disrupts their working efficiency through latency and data crash. Data traffic
refers to the amount of data which is transferred between the internet and the
hosting account on the web server. With the user moving towards more data
intensive content such as video streaming, augmented reality, voice over
data, 4K video, increasing number of internet user on smart phone
etc. data traffic is expected to rise in future. Growing data traffic creates
bandwidth complexities and network congestion. For instance, according to Cisco
Internet Annual Reports, 5G connection will generate nearly 3 times more
traffic than a 4G connection by 2023 among which IoT devices will account for
50% of all networked devices. With the implementation of Millimeter wave
technology, it is easy to transmit large amount of data as the frequency is
directly proportional to bit rates. Thus, the Millimeter waves are suitable for
transmission of digital data, cellular communications. This creates need for
efficient wireless mobile backhaul. These features uplift its demand across
various end-use industries using cloud-based services, further driving its
market growth.
Millimeter Wave Technology Market Challenges
Low penetration power through obstacles is analysed to hamper Millimeter Wave Technology Market growth
While
Millimeter wave technology offers massive advantages over other radio
frequencies but on the other hand, they also have some disadvantages which
include low penetration power through obstacles. Millimeter waves are not
capable of bouncing off physical objects which disrupts the connectivity and
bring major challenges for its adoption especially in closed locations.
Obstacles such as tree branches and walls can interfere and absorb the
transmission and halt the signal. Additionally, Millimeter waves are more
expensive than other commonly used frequencies. This makes the technology
almost inaccessible for smaller companies that do not have the finances.
Currently, mobile network providers are focused on building Millimeter
wave-friendly 5G infrastructure. Moreover, rise in environmental concerns and
adverse impact by Millimeter wave technology on the environment hamper its
market growth across the globe.
Millimeter Wave Technology Market Landscape
Production
Innovation, Acquisitions, Collaboration, and R&D activities are key
strategies adopted by players in the Millimeter Wave Technology Market. In 2020,
the market of Millimeter Wave Technology industry outlook has been fragmented by several companies. Millimeter
Wave Technology top 10 companies include:
- Axxcss Wireless Solutions
- NEC Corporation
- Siklu Communication
- L3 HARRIS
- Smiths Group
- Eravant,
- Aviat Networks
- Farran Technologies
- Millimeter Wave Products
- Keysight Technologies
Acquisitions/Technology Launches/Partnerships
- In March 2020, Keysight technologies and VIOMI, the pioneer of IoT@Home, announced their strategic partnership to advance 5G enabled IoT smart homes. Keysight’s 5G solutions were chosen by VIOMI to test the radio frequency (RF) performance of the company’s IoT devices for home applications. This will enhance the market growth of MMW technology in consumer electronics sector.
- In January 2020, NEC Corporation launched their new Millimeter-wave distributed antenna radio unit to make better use of the 5G Millimeter-wave spectrum (28 GHz band). This will uplift channel quality for indoor 5G applications, further driving MMW technology market growth.
Relevant Report Titles:
LIST OF TABLES
1.Global Millimeter Wave Technology Market By Frequency Band Market 2023-2030 ($M)1.1 Band Between 24 GHz & 57 GHz Market 2023-2030 ($M) - Global Industry Research
1.2 Band Between 57 GHz & 86 GHz Market 2023-2030 ($M) - Global Industry Research
1.3 Band Between 86 GHz & 300 GHz Market 2023-2030 ($M) - Global Industry Research
2.Global Millimeter Wave Technology Market By License Type Market 2023-2030 ($M)
2.1 Light Licensed Frequency Millimeter Wave Market 2023-2030 ($M) - Global Industry Research
2.2 Unlicensed Frequency Millimeter Wave Market 2023-2030 ($M) - Global Industry Research
2.3 Fully Licensed Frequency Millimeter Wave Market 2023-2030 ($M) - Global Industry Research
3.Global Millimeter Wave Technology Market By Component Market 2023-2030 ($M)
3.1 Antennas & Transceiver Components Market 2023-2030 ($M) - Global Industry Research
3.2 Frequency Sources & Related Components Market 2023-2030 ($M) - Global Industry Research
3.3 Communication & Networking Components Market 2023-2030 ($M) - Global Industry Research
3.4 Imaging Components Market 2023-2030 ($M) - Global Industry Research
3.5 RF & Radio Components Market 2023-2030 ($M) - Global Industry Research
3.6 Sensors & Controls Market 2023-2030 ($M) - Global Industry Research
3.7 Interface Components Market 2023-2030 ($M) - Global Industry Research
3.8 Power & Battery Components Market 2023-2030 ($M) - Global Industry Research
4.Global Millimeter Wave Technology Market By Frequency Band Market 2023-2030 (Volume/Units)
4.1 Band Between 24 GHz & 57 GHz Market 2023-2030 (Volume/Units) - Global Industry Research
4.2 Band Between 57 GHz & 86 GHz Market 2023-2030 (Volume/Units) - Global Industry Research
4.3 Band Between 86 GHz & 300 GHz Market 2023-2030 (Volume/Units) - Global Industry Research
5.Global Millimeter Wave Technology Market By License Type Market 2023-2030 (Volume/Units)
5.1 Light Licensed Frequency Millimeter Wave Market 2023-2030 (Volume/Units) - Global Industry Research
5.2 Unlicensed Frequency Millimeter Wave Market 2023-2030 (Volume/Units) - Global Industry Research
5.3 Fully Licensed Frequency Millimeter Wave Market 2023-2030 (Volume/Units) - Global Industry Research
6.Global Millimeter Wave Technology Market By Component Market 2023-2030 (Volume/Units)
6.1 Antennas & Transceiver Components Market 2023-2030 (Volume/Units) - Global Industry Research
6.2 Frequency Sources & Related Components Market 2023-2030 (Volume/Units) - Global Industry Research
6.3 Communication & Networking Components Market 2023-2030 (Volume/Units) - Global Industry Research
6.4 Imaging Components Market 2023-2030 (Volume/Units) - Global Industry Research
6.5 RF & Radio Components Market 2023-2030 (Volume/Units) - Global Industry Research
6.6 Sensors & Controls Market 2023-2030 (Volume/Units) - Global Industry Research
6.7 Interface Components Market 2023-2030 (Volume/Units) - Global Industry Research
6.8 Power & Battery Components Market 2023-2030 (Volume/Units) - Global Industry Research
7.North America Millimeter Wave Technology Market By Frequency Band Market 2023-2030 ($M)
7.1 Band Between 24 GHz & 57 GHz Market 2023-2030 ($M) - Regional Industry Research
7.2 Band Between 57 GHz & 86 GHz Market 2023-2030 ($M) - Regional Industry Research
7.3 Band Between 86 GHz & 300 GHz Market 2023-2030 ($M) - Regional Industry Research
8.North America Millimeter Wave Technology Market By License Type Market 2023-2030 ($M)
8.1 Light Licensed Frequency Millimeter Wave Market 2023-2030 ($M) - Regional Industry Research
8.2 Unlicensed Frequency Millimeter Wave Market 2023-2030 ($M) - Regional Industry Research
8.3 Fully Licensed Frequency Millimeter Wave Market 2023-2030 ($M) - Regional Industry Research
9.North America Millimeter Wave Technology Market By Component Market 2023-2030 ($M)
9.1 Antennas & Transceiver Components Market 2023-2030 ($M) - Regional Industry Research
9.2 Frequency Sources & Related Components Market 2023-2030 ($M) - Regional Industry Research
9.3 Communication & Networking Components Market 2023-2030 ($M) - Regional Industry Research
9.4 Imaging Components Market 2023-2030 ($M) - Regional Industry Research
9.5 RF & Radio Components Market 2023-2030 ($M) - Regional Industry Research
9.6 Sensors & Controls Market 2023-2030 ($M) - Regional Industry Research
9.7 Interface Components Market 2023-2030 ($M) - Regional Industry Research
9.8 Power & Battery Components Market 2023-2030 ($M) - Regional Industry Research
10.South America Millimeter Wave Technology Market By Frequency Band Market 2023-2030 ($M)
10.1 Band Between 24 GHz & 57 GHz Market 2023-2030 ($M) - Regional Industry Research
10.2 Band Between 57 GHz & 86 GHz Market 2023-2030 ($M) - Regional Industry Research
10.3 Band Between 86 GHz & 300 GHz Market 2023-2030 ($M) - Regional Industry Research
11.South America Millimeter Wave Technology Market By License Type Market 2023-2030 ($M)
11.1 Light Licensed Frequency Millimeter Wave Market 2023-2030 ($M) - Regional Industry Research
11.2 Unlicensed Frequency Millimeter Wave Market 2023-2030 ($M) - Regional Industry Research
11.3 Fully Licensed Frequency Millimeter Wave Market 2023-2030 ($M) - Regional Industry Research
12.South America Millimeter Wave Technology Market By Component Market 2023-2030 ($M)
12.1 Antennas & Transceiver Components Market 2023-2030 ($M) - Regional Industry Research
12.2 Frequency Sources & Related Components Market 2023-2030 ($M) - Regional Industry Research
12.3 Communication & Networking Components Market 2023-2030 ($M) - Regional Industry Research
12.4 Imaging Components Market 2023-2030 ($M) - Regional Industry Research
12.5 RF & Radio Components Market 2023-2030 ($M) - Regional Industry Research
12.6 Sensors & Controls Market 2023-2030 ($M) - Regional Industry Research
12.7 Interface Components Market 2023-2030 ($M) - Regional Industry Research
12.8 Power & Battery Components Market 2023-2030 ($M) - Regional Industry Research
13.Europe Millimeter Wave Technology Market By Frequency Band Market 2023-2030 ($M)
13.1 Band Between 24 GHz & 57 GHz Market 2023-2030 ($M) - Regional Industry Research
13.2 Band Between 57 GHz & 86 GHz Market 2023-2030 ($M) - Regional Industry Research
13.3 Band Between 86 GHz & 300 GHz Market 2023-2030 ($M) - Regional Industry Research
14.Europe Millimeter Wave Technology Market By License Type Market 2023-2030 ($M)
14.1 Light Licensed Frequency Millimeter Wave Market 2023-2030 ($M) - Regional Industry Research
14.2 Unlicensed Frequency Millimeter Wave Market 2023-2030 ($M) - Regional Industry Research
14.3 Fully Licensed Frequency Millimeter Wave Market 2023-2030 ($M) - Regional Industry Research
15.Europe Millimeter Wave Technology Market By Component Market 2023-2030 ($M)
15.1 Antennas & Transceiver Components Market 2023-2030 ($M) - Regional Industry Research
15.2 Frequency Sources & Related Components Market 2023-2030 ($M) - Regional Industry Research
15.3 Communication & Networking Components Market 2023-2030 ($M) - Regional Industry Research
15.4 Imaging Components Market 2023-2030 ($M) - Regional Industry Research
15.5 RF & Radio Components Market 2023-2030 ($M) - Regional Industry Research
15.6 Sensors & Controls Market 2023-2030 ($M) - Regional Industry Research
15.7 Interface Components Market 2023-2030 ($M) - Regional Industry Research
15.8 Power & Battery Components Market 2023-2030 ($M) - Regional Industry Research
16.APAC Millimeter Wave Technology Market By Frequency Band Market 2023-2030 ($M)
16.1 Band Between 24 GHz & 57 GHz Market 2023-2030 ($M) - Regional Industry Research
16.2 Band Between 57 GHz & 86 GHz Market 2023-2030 ($M) - Regional Industry Research
16.3 Band Between 86 GHz & 300 GHz Market 2023-2030 ($M) - Regional Industry Research
17.APAC Millimeter Wave Technology Market By License Type Market 2023-2030 ($M)
17.1 Light Licensed Frequency Millimeter Wave Market 2023-2030 ($M) - Regional Industry Research
17.2 Unlicensed Frequency Millimeter Wave Market 2023-2030 ($M) - Regional Industry Research
17.3 Fully Licensed Frequency Millimeter Wave Market 2023-2030 ($M) - Regional Industry Research
18.APAC Millimeter Wave Technology Market By Component Market 2023-2030 ($M)
18.1 Antennas & Transceiver Components Market 2023-2030 ($M) - Regional Industry Research
18.2 Frequency Sources & Related Components Market 2023-2030 ($M) - Regional Industry Research
18.3 Communication & Networking Components Market 2023-2030 ($M) - Regional Industry Research
18.4 Imaging Components Market 2023-2030 ($M) - Regional Industry Research
18.5 RF & Radio Components Market 2023-2030 ($M) - Regional Industry Research
18.6 Sensors & Controls Market 2023-2030 ($M) - Regional Industry Research
18.7 Interface Components Market 2023-2030 ($M) - Regional Industry Research
18.8 Power & Battery Components Market 2023-2030 ($M) - Regional Industry Research
19.MENA Millimeter Wave Technology Market By Frequency Band Market 2023-2030 ($M)
19.1 Band Between 24 GHz & 57 GHz Market 2023-2030 ($M) - Regional Industry Research
19.2 Band Between 57 GHz & 86 GHz Market 2023-2030 ($M) - Regional Industry Research
19.3 Band Between 86 GHz & 300 GHz Market 2023-2030 ($M) - Regional Industry Research
20.MENA Millimeter Wave Technology Market By License Type Market 2023-2030 ($M)
20.1 Light Licensed Frequency Millimeter Wave Market 2023-2030 ($M) - Regional Industry Research
20.2 Unlicensed Frequency Millimeter Wave Market 2023-2030 ($M) - Regional Industry Research
20.3 Fully Licensed Frequency Millimeter Wave Market 2023-2030 ($M) - Regional Industry Research
21.MENA Millimeter Wave Technology Market By Component Market 2023-2030 ($M)
21.1 Antennas & Transceiver Components Market 2023-2030 ($M) - Regional Industry Research
21.2 Frequency Sources & Related Components Market 2023-2030 ($M) - Regional Industry Research
21.3 Communication & Networking Components Market 2023-2030 ($M) - Regional Industry Research
21.4 Imaging Components Market 2023-2030 ($M) - Regional Industry Research
21.5 RF & Radio Components Market 2023-2030 ($M) - Regional Industry Research
21.6 Sensors & Controls Market 2023-2030 ($M) - Regional Industry Research
21.7 Interface Components Market 2023-2030 ($M) - Regional Industry Research
21.8 Power & Battery Components Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Millimeter Wave Technology Market Revenue, 2023-2030 ($M)2.Canada Millimeter Wave Technology Market Revenue, 2023-2030 ($M)
3.Mexico Millimeter Wave Technology Market Revenue, 2023-2030 ($M)
4.Brazil Millimeter Wave Technology Market Revenue, 2023-2030 ($M)
5.Argentina Millimeter Wave Technology Market Revenue, 2023-2030 ($M)
6.Peru Millimeter Wave Technology Market Revenue, 2023-2030 ($M)
7.Colombia Millimeter Wave Technology Market Revenue, 2023-2030 ($M)
8.Chile Millimeter Wave Technology Market Revenue, 2023-2030 ($M)
9.Rest of South America Millimeter Wave Technology Market Revenue, 2023-2030 ($M)
10.UK Millimeter Wave Technology Market Revenue, 2023-2030 ($M)
11.Germany Millimeter Wave Technology Market Revenue, 2023-2030 ($M)
12.France Millimeter Wave Technology Market Revenue, 2023-2030 ($M)
13.Italy Millimeter Wave Technology Market Revenue, 2023-2030 ($M)
14.Spain Millimeter Wave Technology Market Revenue, 2023-2030 ($M)
15.Rest of Europe Millimeter Wave Technology Market Revenue, 2023-2030 ($M)
16.China Millimeter Wave Technology Market Revenue, 2023-2030 ($M)
17.India Millimeter Wave Technology Market Revenue, 2023-2030 ($M)
18.Japan Millimeter Wave Technology Market Revenue, 2023-2030 ($M)
19.South Korea Millimeter Wave Technology Market Revenue, 2023-2030 ($M)
20.South Africa Millimeter Wave Technology Market Revenue, 2023-2030 ($M)
21.North America Millimeter Wave Technology By Application
22.South America Millimeter Wave Technology By Application
23.Europe Millimeter Wave Technology By Application
24.APAC Millimeter Wave Technology By Application
25.MENA Millimeter Wave Technology By Application
26.Keysight Technologies, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.NEC Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Siklu Communication Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Farran Technology, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Millimeter Wave Products Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Millivision Technologies, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Smiths Group PLC., Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Elva-1, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Proxim Wireless, Sales /Revenue, 2015-2018 ($Mn/$Bn)