Global Millimeter wave technology Market is valued approximately at USD 530.8 million in 2018 and is anticipated to grow with a healthy growth rate of more than 35.20% over the forecast period 2019-2026. millimeter wave technology is used to reduce traffic pressure on the base station (BS) of the network as these millimeter waves open up more spectrum and reduces the congestion on the current radio spectrum. that increases the speed of communication and improves the quality of network. It gives large bandwidth to provide high quality network services. Rising mobile data traffic and demand for bandwidth intensive applications is one of the major factors that contributes to the growth of global millimeter wave technology market during forecast period. According to World Economic Forum Organization, 4.4 zettabyte of digital data was created by end of 2013 and expected to boost up to 44 zettabytes by the end of 2023. Further, according to the Ericsson Mobility Report 2017, mobile data traffic volume across the globe is growing with the CAGR of about 42% during 2016-2022. Hence, increase in mobile data traffic across the globe is expected to increase the demand as well as adoption of millimeter wave technology to provide better data speed and reduce traffic congestion in communication networks. This is expected to promote the growth of global millimeter wave technology market during forecast period. However, the adverse effect of radiation caused by millimeter waves on the environment is restraining the market growth during the forecast period. of 2019-2026.
The regional analysis of global Millimeter wave technology market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the high penetration of 4G LTE coupled with the testing of 5G testing. Whereas, North America is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as heavy investment in this technology, increasing mobile traffic would create lucrative growth prospects for the Millimeter wave technology market across the region.
Major market player included in this report are:
Bridgewave Communications, Inc.
Sage Millimeter, Inc.
Siklu Communication Ltd
Aviat Networks, Inc.
Millimeter Wave Products Inc.
Vubiq Networks, Inc
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Radar and Satellite Communications Systems
By Frequency Band:
Band Between 24 GHz and 57 GHz
Band Between 57 GHz and 86 GHz
Band Between 86 GHz and 300 GHz
By License Type:
Light Licensed Frequency Millimetre Wave
Unlicensed Frequency Millimetre Wave
Fully Licensed Frequency Millimetre Wave
Consumer and Commercial
Automotive and Transportation
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Millimeter wave technology Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers