Industry Background:
The increasing research & development activities in the millimeter (MM) wave technology and the continuously rising demand for bandwidth-intensive applications are anticipated to propel the global market. Millimeter-wave is a kind of electromagnetic technology used in various products such as phones, cars, medical devices, and others to ensure wireless broadband communications at a higher speed. The MM wave technology is extensively used in applications across various sectors such as telecommunication, military & defense, security, automotive, and healthcare.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Axxcss Wireless Solutions (United States), Keysight Technologies (United States), NEC Corporation (Japan), Eravant (United States), Siklu Communication (Japan), Aviat Networks (United States), Farran Technologies (Ireland), L3HARRIS (United States), Smiths Group (United Kigdom) and Millimeter Wave Products (United States) |
According to AMA, the market for Millimeter Wave Technology is expected to register a CAGR of 37.1% during the forecast period to 2027. This growth is primarily driven by Increase in broadband and mobile speeds with growing utility and demand and Rise in number of IoT-based devices.
Globally, a noticeable market trend is evident Substantial demand in the use of millimeter-wave technology in security and radar applications
The Communications Equipment sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Axxcss Wireless Solutions (United States), Keysight Technologies (United States), NEC Corporation (Japan), Eravant (United States), Siklu Communication (Japan), Aviat Networks (United States), Farran Technologies (Ireland), L3HARRIS (United States), Smiths Group (United Kigdom) and Millimeter Wave Products (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In May 2016, Farran Technology Ltd collaborated with Copper Mountain Technologies, a developer of innovative RF test and measurement solutions to launch CobaltFxan advanced technology that provides a millimeter-wave frequency extension solution built on a 9 GHz Vector Network Analyser (VNA).
In April 2019, NEC and Ceragon, a company that delivers innovative wireless backhaul solutions, collaborated to enhance the technologies and solutions for 5G wireless backhaul in the microwave and millimeter-wave spectrum. This collaboration helps NEC to access solutions that are different from their own solutions and technologies.
Influencing Trend:
Substantial demand in the use of millimeter-wave technology in security and radar applications and The rise in usage of millimeter-wave in small-cell backhaul networks
Market Growth Drivers:
Increase in broadband and mobile speeds with growing utility and demand and Rise in number of IoT-based devices
Challenges:
Non-uniform licensing approach
Restraints:
Low penetration power through objects and adverse impact on the environment
Opportunities:
Increase in usage of 5G and millimeter-wave technology and Significant opportunities in military, defense, and aerospace applications
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Millimeter Wave Technology Market
- Analysis about New Entrants in Millimeter Wave Technology Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Millimeter Wave Technology Study Sheds Light on
The Millimeter Wave Technology Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Millimeter Wave Technology industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Millimeter Wave Technology industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.