Millimeter waves (MMW) are extremely high-frequency electromagnetic waves within the range of 30GHz to 300 GHz frequency. Factors like broad smartphone ownership, heavy data traffic and growing interest in the latest MMW technique is driving the market demand for millimeter wave technology. Over the forecast period of 2019-2027, the global millimeter wave (MMW) technology market is expected to rise with a CAGR of 30.64%.
The global millimeter wave technology market is segmented on the basis of frequency brands, product, and service, frequency band, license type, and applications. The frequency band ranges between 30 GHz and 57 GHz, 57 GHz and 86 GHz and 86 GHz and 300 GHz. The market provides products and services like offering scanner systems, telecommunication equipment, and radar & satellite communication systems.
The penetration of 5G technology is one of the major driving forces which is driving the market as its showcases better connectivity and ease of use for the consumer and is predicted to increase in the forecasting period of 2019-2027.
The applications for this market include consumer & commercial, mobile & telecommunication, healthcare, automotive and transportation, industrial, military, defense, and aerospace, and imaging.
Geographically, the global millimeter wave technology market is segmented into North America, Europe, Asia Pacific and the Rest of World. The North America MMW market reigns the global scene. North America millimeter wave technology market is expected to be on the up-surging trend owing to government investments in 5G infrastructure, various technological advancements in millimeter wave technology and government initiatives to support the deployment of 5G wireless networks and systems. Thus, the adoption of the millimeter wave technology would rise which is expected to boost the millimeter wave technology market in the North America region.
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Bridgewave Communications, Inc., Quinstar Technology Inc., Lightpointe Communications, Inc., Fujitsu Limited, Siklu Communication Ltd. , Millitech Inc. (Acquired By Smith Group), Trex Enterprises Corporation, Farran Technology Ltd., NEC Corporation, E-Band Communications, LLC, Sivers Ima, Aviat Networks, Inc., Sage Millimetre, Proxim Wireless Corporation (Acquired By Terabeam), and Keysight Technologies, Inc. are some of the companies mentioned in the report.