[306 Pages Report] The millimeter wave technology market is anticipated to have a prodigious CAGR of 39.0% during the period of 2022-2032. According to FMI, the millimeter wave technology market is expected to grow from US$ 2.03 Billion in 2021 to US$ 76.58 billion by 2032.
“Expanding R&D initiatives in millimeter wave technology and continuously rising demand for the product from the telecommunications sector are anticipated to drive the global market.”
| Attributes | Details |
|---|---|
| The Millimeter Wave Technology Market CAGR (2022-2032) | 39.0% |
| The Millimeter Wave Technology Market Size (2022) | US$ 2.03 billion |
| The Millimeter Wave Technology Market Size (2032) | US$ 76.58 billion |
Millimeter waves are anticipated to be a key component in the advancement of fifth-generation technology, due to the necessity for greater bandwidths. The millimeter wave technology market is therefore predicted to increase significantly throughout the forecast period, as the market is seeing a transition toward the use of fifth-generation technology.
The market demand for millimeter wave technology is anticipated to grow as a result of the rising demand for millimeter wave scanners for security purposes. As people are becoming more aware of security precautions, growing markets in the Asia Pacific and South America & MEA areas are anticipated to be those with the ability to provide the technology with significant growth opportunities in the millimeter wave technology market.
Broadband and mobile speed increases, a surge in millimeter wave utilization in small-cell backhaul networks, and a significant demand for millimeter wave technology in radar and security applications are some of the drivers propelling this market's expansion.
Standards for 5G technology are still being developed at this time. However, 5G has been implemented in a few industrialized countries, including early 5G technologies that use millimeter wave technology to provide low-latency, high-capacity fixed wireless broadband networks.
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The millimeter wave technology market is also developing as a result of the expanding infrastructure deployments for faster access to data, voice, videos, and services, as well as the rising demand for high-speed networks for accessing smart systems at the household and commercial levels.
Demand for millimeter wave technology is also anticipated to increase throughout the anticipated time, due to the increased adoption of internet services, e-governance services, and cloud computing.
Numerous industries, including telecommunication, military & defense, security, automotive, and healthcare, employ millimeter wave technology significantly. The increased demand for millimeter wave technology originating from all these commercial and industrial sectors is also anticipated to accelerate market growth.
Over the following five years, wireless networks would experience severe congestion due to the availability of equipment that allows high bandwidth. This would accelerate the transition from the current 3G and 4G technologies to 5G, opening up a range of options for the key stakeholders in millimeter wave technology.
Principal Consultant
Being a form of line-of-sight communication, the technology might encounter a few more challenges as it develops without interruption. Around the world, significant R&D efforts are being made to remove obstacles and other limitations impeding the development of the millimeter wave technology sector.
Due to the expanded telecom sector, the telecommunication equipment segment had the biggest millimeter wave technology market share in 2021, exceeding 58.15%. Millimeter wave technology is increasingly being used in imaging and scanning systems, improving their properties by bringing stability and dependability.
Additionally, the use of technology in scanners improves the accuracy of security systems. A nation's national security is not complete without radio and satellite communication technologies.
Security systems have improved in effectiveness and dependability with the adoption of millimeter wave technology in radar and satellite communication, upgrading defensive strategies.
The antennas and transceivers segment holds the greatest market share in 2021 and generated the most revenue, according to FMI's analysis of the millimeter wave technology market. In 2021, this market category had a share of 41.59%.
Due to the widespread use of the products in sectors like security and telecommunications, the market is anticipated to maintain its dominance during the projected. The global telecommunication and defense industries are both booming, and as a result, these industries' demand is anticipated to increase dramatically over the next few years.
Due to the expanding need for high-speed data transfer and communication from the residential and commercial sectors, such as data centers and IT offices, the telecommunications category is expected to hold the largest millimeter wave technology market share of over 49.18% in 2021.
Due to the introduction of 5G technology, telecommunications applications are anticipated to expand rapidly throughout the projection period. The 5G network is a good fit for millimeter wave technology. Worldwide, international airport authorities are implementing millimeter-wave scanners due to their popularity.
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As technology is more widely accepted in the region, the millimeter wave technology market in North America had the highest size during the projection period. Early adopters of cutting-edge and new technologies include nations like the U.S. and Canada. As a result, the elements are opening doors for millimeter wave technology in a variety of applications.
During the projection period, it is predicted that the millimeter wave technology market in the Asia Pacific and Rest of the World (RoW) regions would expand significantly. With the expected CAGR of 44% throughout the projection period, the Asia Pacific region is expected to grow at the greatest rate.
The renovations and developments being made to its telecom infrastructures are responsible for the region's rapid technological growth. Additionally, it is anticipated that the installation of new telecom equipment based on millimeter wave technology is significantly accelerating the market growth throughout the region.
The millimeter wave technology market is projected to have a CAGR of 39.0% through 2032.
The market size is anticipated to be US$ 76.58 billion through 2032.
The market size is US$ 2.03 billion in 2022.
V-Band holds the largest share in the market.
Telecommunication equipment led the market during the forecast period.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2017-2021 and Forecast, 2022-2032
4.1. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis, 2017-2021
4.2. Current and Future Market Size Value (US$ Mn) & Volume (Units) Projections, 2022-2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2017-2021 and Forecast 2022-2032, By Product
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Product, 2017-2021
5.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Product, 2022-2032
5.3.1. Telecommunication Equipment
5.3.2. Imaging & Scanning Systems
5.3.3. Radar & Satellite Communication Systems
5.4. Y-o-Y Growth Trend Analysis By Product, 2017-2021
5.5. Absolute $ Opportunity Analysis By Product, 2022-2032
6. Global Market Analysis 2017-2021 and Forecast 2022-2032, By Component
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Component, 2017-2021
6.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Component, 2022-2032
6.3.1. Antennas & Transceivers
6.3.2. Amplifiers
6.3.3. Oscillators
6.3.4. Control Devices
6.3.5. Frequency Converters
6.3.6. Passive Components
6.3.7. Others (Ferrite Devices, Radiometers, etc.)
6.4. Y-o-Y Growth Trend Analysis By Component, 2017-2021
6.5. Absolute $ Opportunity Analysis By Component, 2022-2032
7. Global Market Analysis 2017-2021 and Forecast 2022-2032, By Application
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Application, 2017-2021
7.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Application, 2022-2032
7.3.1. Telecommunications
7.3.2. Military & Defense
7.3.3. Automotive & Transport
7.3.4. Healthcare
7.3.5. Electronics & Semiconductor
7.3.6. Security
7.4. Y-o-Y Growth Trend Analysis By Application, 2017-2021
7.5. Absolute $ Opportunity Analysis By Application, 2022-2032
8. Global Market Analysis 2017-2021 and Forecast 2022-2032, By Frequency Band
8.1. Introduction / Key Findings
8.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Frequency Band, 2017-2021
8.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Frequency Band, 2022-2032
8.3.1. V-Band
8.3.2. E-Band
8.3.3. Other Frequency Bands
8.4. Y-o-Y Growth Trend Analysis By Frequency Band, 2017-2021
8.5. Absolute $ Opportunity Analysis By Frequency Band, 2022-2032
9. Global Market Analysis 2017-2021 and Forecast 2022-2032, By Region
9.1. Introduction
9.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Region, 2017-2021
9.3. Current Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Region, 2022-2032
9.3.1. North America
9.3.2. Latin America
9.3.3. Europe
9.3.4. Asia Pacific
9.3.5. MEA
9.4. Market Attractiveness Analysis By Region
10. North America Market Analysis 2017-2021 and Forecast 2022-2032, By Country
10.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021
10.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032
10.2.1. By Country
10.2.1.1. U.S.
10.2.1.2. Canada
10.2.2. By Product
10.2.3. By Component
10.2.4. By Application
10.2.5. By Frequency Band
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Product
10.3.3. By Component
10.3.4. By Application
10.3.5. By Frequency Band
10.4. Key Takeaways
11. Latin America Market Analysis 2017-2021 and Forecast 2022-2032, By Country
11.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021
11.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032
11.2.1. By Country
11.2.1.1. Brazil
11.2.1.2. Mexico
11.2.1.3. Rest of Latin America
11.2.2. By Product
11.2.3. By Component
11.2.4. By Application
11.2.5. By Frequency Band
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Product
11.3.3. By Component
11.3.4. By Application
11.3.5. By Frequency Band
11.4. Key Takeaways
12. Europe Market Analysis 2017-2021 and Forecast 2022-2032, By Country
12.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021
12.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032
12.2.1. By Country
12.2.1.1. Germany
12.2.1.2. U.K.
12.2.1.3. France
12.2.1.4. Spain
12.2.1.5. Italy
12.2.1.6. Rest of Europe
12.2.2. By Product
12.2.3. By Component
12.2.4. By Application
12.2.5. By Frequency Band
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Product
12.3.3. By Component
12.3.4. By Application
12.3.5. By Frequency Band
12.4. Key Takeaways
13. Asia Pacific Market Analysis 2017-2021 and Forecast 2022-2032, By Country
13.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021
13.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032
13.2.1. By Country
13.2.1.1. China
13.2.1.2. Japan
13.2.1.3. South Korea
13.2.1.4. Malaysia
13.2.1.5. Singapore
13.2.1.6. Australia
13.2.1.7. New Zealand
13.2.1.8. Rest of APAC
13.2.2. By Product
13.2.3. By Component
13.2.4. By Application
13.2.5. By Frequency Band
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Product
13.3.3. By Component
13.3.4. By Application
13.3.5. By Frequency Band
13.4. Key Takeaways
14. MEA Market Analysis 2017-2021 and Forecast 2022-2032, By Country
14.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021
14.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032
14.2.1. By Country
14.2.1.1. GCC Countries
14.2.1.2. South Africa
14.2.1.3. Israel
14.2.1.4. Rest of MEA
14.2.2. By Product
14.2.3. By Component
14.2.4. By Application
14.2.5. By Frequency Band
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Product
14.3.3. By Component
14.3.4. By Application
14.3.5. By Frequency Band
14.4. Key Takeaways
15. Key Countries Market Analysis
15.1. U.S.
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2021
15.1.2.1. By Product
15.1.2.2. By Component
15.1.2.3. By Application
15.1.2.4. By Frequency Band
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2021
15.2.2.1. By Product
15.2.2.2. By Component
15.2.2.3. By Application
15.2.2.4. By Frequency Band
15.3. Brazil
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2021
15.3.2.1. By Product
15.3.2.2. By Component
15.3.2.3. By Application
15.3.2.4. By Frequency Band
15.4. Mexico
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2021
15.4.2.1. By Product
15.4.2.2. By Component
15.4.2.3. By Application
15.4.2.4. By Frequency Band
15.5. Germany
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2021
15.5.2.1. By Product
15.5.2.2. By Component
15.5.2.3. By Application
15.5.2.4. By Frequency Band
15.6. U.K.
15.6.1. Pricing Analysis
15.6.2. Market Share Analysis, 2021
15.6.2.1. By Product
15.6.2.2. By Component
15.6.2.3. By Application
15.6.2.4. By Frequency Band
15.7. France
15.7.1. Pricing Analysis
15.7.2. Market Share Analysis, 2021
15.7.2.1. By Product
15.7.2.2. By Component
15.7.2.3. By Application
15.7.2.4. By Frequency Band
15.8. Spain
15.8.1. Pricing Analysis
15.8.2. Market Share Analysis, 2021
15.8.2.1. By Product
15.8.2.2. By Component
15.8.2.3. By Application
15.8.2.4. By Frequency Band
15.9. Italy
15.9.1. Pricing Analysis
15.9.2. Market Share Analysis, 2021
15.9.2.1. By Product
15.9.2.2. By Component
15.9.2.3. By Application
15.9.2.4. By Frequency Band
15.10. China
15.10.1. Pricing Analysis
15.10.2. Market Share Analysis, 2021
15.10.2.1. By Product
15.10.2.2. By Component
15.10.2.3. By Application
15.10.2.4. By Frequency Band
15.11. Japan
15.11.1. Pricing Analysis
15.11.2. Market Share Analysis, 2021
15.11.2.1. By Product
15.11.2.2. By Component
15.11.2.3. By Application
15.11.2.4. By Frequency Band
15.12. South Korea
15.12.1. Pricing Analysis
15.12.2. Market Share Analysis, 2021
15.12.2.1. By Product
15.12.2.2. By Component
15.12.2.3. By Application
15.12.2.4. By Frequency Band
15.13. Malaysia
15.13.1. Pricing Analysis
15.13.2. Market Share Analysis, 2021
15.13.2.1. By Product
15.13.2.2. By Component
15.13.2.3. By Application
15.13.2.4. By Frequency Band
15.14. Singapore
15.14.1. Pricing Analysis
15.14.2. Market Share Analysis, 2021
15.14.2.1. By Product
15.14.2.2. By Component
15.14.2.3. By Application
15.14.2.4. By Frequency Band
15.15. Australia
15.15.1. Pricing Analysis
15.15.2. Market Share Analysis, 2021
15.15.2.1. By Product
15.15.2.2. By Component
15.15.2.3. By Application
15.15.2.4. By Frequency Band
15.16. New Zealand
15.16.1. Pricing Analysis
15.16.2. Market Share Analysis, 2021
15.16.2.1. By Product
15.16.2.2. By Component
15.16.2.3. By Application
15.16.2.4. By Frequency Band
15.17. GCC Countries
15.17.1. Pricing Analysis
15.17.2. Market Share Analysis, 2021
15.17.2.1. By Product
15.17.2.2. By Component
15.17.2.3. By Application
15.17.2.4. By Frequency Band
15.18. South Africa
15.18.1. Pricing Analysis
15.18.2. Market Share Analysis, 2021
15.18.2.1. By Product
15.18.2.2. By Component
15.18.2.3. By Application
15.18.2.4. By Frequency Band
15.19. Israel
15.19.1. Pricing Analysis
15.19.2. Market Share Analysis, 2021
15.19.2.1. By Product
15.19.2.2. By Component
15.19.2.3. By Application
15.19.2.4. By Frequency Band
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Product
16.3.3. By Component
16.3.4. By Application
16.3.5. By Frequency Band
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. Aviat Networks, Inc.
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.1.5.2. Product Strategy
17.1.1.5.3. Channel Strategy
17.1.2. BridgeWave Communications
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.2.5.2. Product Strategy
17.1.2.5.3. Channel Strategy
17.1.3. E-Band Communications, LLC
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.3.5.2. Product Strategy
17.1.3.5.3. Channel Strategy
17.1.4. Farran Technology
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.4.5.2. Product Strategy
17.1.4.5.3. Channel Strategy
17.1.5. Keysight Technologies
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.5.5.2. Product Strategy
17.1.5.5.3. Channel Strategy
17.1.6. Millitech, Inc.
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.6.5.2. Product Strategy
17.1.6.5.3. Channel Strategy
17.1.7. NEC Corporation
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.7.5.2. Product Strategy
17.1.7.5.3. Channel Strategy
17.1.8. QuinStar Technology, Inc.
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.8.5.2. Product Strategy
17.1.8.5.3. Channel Strategy
17.1.9. SAGE Millimeter, Inc.
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.9.5.2. Product Strategy
17.1.9.5.3. Channel Strategy
17.1.10. Siklu Communication Ltd.
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
17.1.10.5.2. Product Strategy
17.1.10.5.3. Channel Strategy
17.1.11. Trex Enterprises Corporation
17.1.11.1. Overview
17.1.11.2. Product Portfolio
17.1.11.3. Profitability by Market Segments
17.1.11.4. Sales Footprint
17.1.11.5. Strategy Overview
17.1.11.5.1. Marketing Strategy
17.1.11.5.2. Product Strategy
17.1.11.5.3. Channel Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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Millimeter Wave Technology Market
