The global telecom MMW technology market is projected to reach USD 4.23 billion by 2025, according to the new report conducted by Grand View Research, Inc. Millimeter waves efficiently transmit a large amount of data and operate in the electromagnetic spectrum of 30 GHz to 300 GHz. This property has increased the popularity of MMW technology in the telecommunication sector. They are also known as Extremely High-Frequency (EHF) waves, owing to their operating frequency spectrum.
Fiber-optic cables are the most preferred transmission medium used for data transmission across the telecom industry. However, the fiber optics technology is costly, and the installation of the network is complicated. Thus, the millimeter wave technology is gaining traction as an alternative to fiber-optics medium.
The major application areas of the technology include telecommunication, military & defense, security services, and medical & healthcare. The recent developments and continuous research and progress in the telecom industry are likely to lead to the evolution of the 5G technology.
Millimeter waves are anticipated to play a vital role in the development of fifth-generation technology, owing to the need for higher-bandwidth. The 5G technology is predicted to emerge in the coming years and the market is likely to witness its adoption significantly. Eventually, the demand for MMW technology is expected to boost, in turn, propelling the overall MMW technology market, particularly across the telecom industry.
Increased government funding and initiatives, coupled with R&D activities carried out by the public and private sectors, are driving the market. E-band frequencies have extensive applications in the telecommunication sector and the segment is anticipated to generate the highest revenue over the forecast period, on account of its growing applications in the sector. Therefore, the overall telecom millimeter wave technology market is poised to witness a significant growth over the forecast period.
Further key findings from the report suggest:
- North America accounted for the largest market share in 2016, owing to the early adoption of the technology in the region
- U.S. generated the highest revenue in 2016 in the North America regional market
- The E-band frequency segment is anticipated to witness significant growth over the forecast duration, owing to its extensive adoption in telecom applications
- The E-band frequency segment is likely to witness significant demand in the telecom industry of the Asia Pacific region
- The growing urbanization in the Asia Pacific region and competitive rivalry amongst the telecom service providers, for offering superior quality internet and other related services to increase customer base, are expected to drive the regional telecom MMW technology market
- Online streaming of high-quality videos and online gaming, which require high bandwidth and consume large amounts of data, are likely to fuel the overall demand for MMW technology in the telecom sector
- The prominent industry players operating in the global Millimeter Wave technology market are Siklu Communication Ltd., Bridgewave Communications, Inc., NEC Corporation, Keysight Technologies, Sage Millimeter, Inc., Lightpointe Communications, Inc., and others.