Millimeter Wave Technology Market Report 2021-26: Industry Trends, Size, Share, Analysis and Forecast
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 a value of US$ 1.10 Billion in 2020 and expects the market to exhibit strong growth during the next five years.The report provides a detailed analysis of the market by segments and region and The report provides a detailed analysis of the market on the basis of region, component, product, frequency band, license type and application also, the report analyzes the market’s competitive landscape.
Base Year: 2020
Forecast Year: 2021-2026
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Industry Definition and Application:
Millimeter-wave (MMW), or extremely high frequency (EHF), technology is an electromagnetic solution that enables the transmission at high frequency across 5G networks. It utilizes various imaging systems, telecommunication equipment, radars and satellite scanning systems. MMW technology is used in numerous products, such as medical devices, smartphones, automobiles and security screening and remote sensing devices. It assists in enhancing reliability, resolution, data transmission, bandwidth and scaling capacities. As a result, it finds extensive application across various industries, such as automotive, telecommunication, electronic, healthcare, military and defense.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends and Drivers:
The global millimeter wave technology is primarily being driven by the increasing demand for high-speed networks in the residential and commercial sectors. MMW is widely used to provide wireless communication in consumer electronic products, such as smart wearables, phones and watches. Moreover, various technological advancements, such as the development of MMW over optic cable that provides high data transmission rates over long distances, are providing a thrust to the market growth. Other factors, including the increasing utilization of MMW technology in radio and satellite communication systems, along with the widespread adoption the aerospace industry to improve the efficiency of imaging devices, are anticipated to drive the market toward growth.
Millimeter Wave Technology Market Segmentation:
The report has segmented the market on the basis on region, component, product, frequency band, license type and application.
Breakup by Component:
- Antennas and Transceivers
- Control Devices
- Frequency Converters
- Passive Components
Breakup by Product:
- Telecommunication Equipment
- Imaging and Scanning Systems
- Radar and Satellite Communication Systems
Breakup by Frequency Band:
- 30 GHz – 57 GHz
- 57 GHz – 96 GHz
- 96 GHz -300 GHz
Breakup by License Type:
- Light Licensed Frequency Millimeter Wave
- Unlicensed Frequency Millimeter Wave
- Fully Licensed Frequency Millimeter Wave
Breakup by Application:
- Military and Defense
- Automotive and Transport
- Electronics and Semiconductor
Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Who are the Major Millimeter Wave Technology Market Key players?
The report provides a 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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