Millimeter Wave Technology Market by Product (Scanner Systems, Telecommunication Equipment), License Type (Unlicensed, Fully Licensed), Application (Mobile and Telecom, Automotive), Component, Frequency Band, and Region – Global Forecast to 2025

2020-05-26
Price :
Published : May-2020
No. of Pages : 182

“The millimeter wave technology market is projected to grow at CAGR of 26.4% from 2020 to 2025”

The global millimeter wave technology market size is estimated to grow from USD 1.0 billion in 2020 to USD 3.4 billion by 2025, at a CAGR of 26.4%. An increase in mobile and broadband speeds is one of the main factors driving the growth of the millimeter wave technology market.

“The market for antenna & transceiver components is projected to grow at the highest CAGR during the forecast period”

The antennas & transceivers segment is projected to grow at the highest CAGR of the millimeter wave technology market, by component. One of the important factors for the dominance of these components is the wide adoption in telecom and consumer electronics applications. With the high adoption of 5G technology and 5G-based smartphones, the market for these antennas & transceivers is poised to grow significantly during the forecast period.

“Market for telecommunication equipment is projected to grow at the highest CAGR during the forecast period”

The telecommunication equipment is expected to dominate the millimeter wave market by product. The high growth of the telecommunication equipment is due to the higher use of millimeter wave components for 5G backhaul. Also, millimeter wave components are widely used in indoor and outdoor telecommunication equipment, which includes small cell and macro-cell equipment.

“Market for unlicensed spectrum is expected to grow at highest CAGR during the forecast period”

The millimeter wave technology market for unlicensed frequencies is projected to account for the largest share by 2025, as due to the high adoption of millimeter wave for devices in the unlicensed frequency band. The fully licensed band is set to grow at the highest rate due to its increasing adoption, mainly in the mobile and the telecom sector. Users are expected to use light licensed and fully licensed frequency bands in the near future, owing to the lack of security in the unlicensed spectrum.

“Market for 57-86 GHz is projected to grow at highest CAGR during the forecast period”

The market for millimeter wave technology for 57–86 GHz frequency band is projected to account for the largest share and grow at the highest CAGR during the forecast period. The dominance of this frequency band is due to the high demand for this frequency band, as it serves numerous applications such as autonomous mining, security and perimeter protection, traffic monitoring, and automated cruise control. Apart from this, the E-band and V-band are mainly used for the telecom applications, which lies in the 57–86 GHz frequency band, which is projected to further increase the dominance of this frequency band.

“APAC to grow at the highest rate in the millimeter wave technology market by 2025”

APAC is projected to grow at the highest rate due to the high adoption of millimeter wave technologies for telecommunication equipment products and mobile & telecom applications. In APAC, the investments look promising as the majority of the countries such as China, Japan, and South Korea have been successful in reducing the contamination of the virus compared with the US and European countries. China is easing the restrictions placed on factories’ lockdown and workers’ movement. Major telecommunication equipment providers in the region, including ZTE and Huawei Technologies, have signed more than 95 5G commercial deals with global leading operators. Also, Huawei has been providing support to launch 35 5G commercial networks by December 2020.

Breakdown of profiles of primary participants:

  • By Company Type: Tier 1 = 45%, Tier 2 = 34%, and Tier 3 = 21%
  • By Designation: C-level Executives = 45%, Directors = 36%, and Managers = 19%
  • By Region: North America = 39%, Europe = 41%, APAC = 16%, and RoW =4%

Major Players Profiled in This Report:

  • Axxcss Wireless Solutions (US)
  • Keysight Technologies (US)
  • NEC Corporation (Japan)
  • Eravant (US)
  • Siklu Communication (Israel)
  • Aviat Networks (US)
  • Farran Technologies (Ireland)
  • L3HARRIS (US)
  • Smiths Group (UK)
  • Millimeter Wave Products (US)

Research Coverage

This report offers detailed insights into the millimeter wave technology market based on component, product, license type, frequency band, application, and region.

Reasons to Buy the Report

The report is expected to help market leaders/new entrants in this market in the following ways:

  • This report segments the millimeter wave technology market comprehensively and provides the closest approximations of the overall size of the market, as well as its segments and sub segments.
  • The report is expected to help stakeholders understand the pulse of the market and provide them with information about key drivers, restraints, challenges, and opportunities.
  • This report aims at helping stakeholders in obtaining an improved understanding of their competitors and gaining insights to enhance their position in the market. The competitive landscape section includes the competitor ecosystem of the market, as well as growth strategies such as product launches and installations, contracts, mergers, collaborations, partnerships, and expansions  adopted by the key market players.
Filed in: Semiconductor & Electronics
Publisher : marketsandmarkets
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