Global Millimeter Wave Technology Equipment Market to Grow at an Impressive CAGR of Over 47% Through 2020, Reports Technavio

LONDON--()--Technavio analysts forecast the global millimeter wave technology equipment market to grow at a CAGR of more than 47% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the global millimeter wave technology equipment market for 2016-2020. The market size is calculated based on revenue generated from the sale of new millimeter wave technology equipment. The report also presents a corresponding detailed analysis of the major vendors manufacturing millimeter wave technology equipment in the Americas, APAC, Europe, and EMEA.

According to Sunil Kumar Singh, a lead analyst at Technavio for embedded systems, “The growing use of mobile applications by individual consumers and the need for optimized bandwidth management and network monetization are fueling the deployment and adoption of the 4G network. Service providers worldwide are trying to cope up with the growing demand for faster connectivity, more bandwidth, higher security, and lower latency. Millimeter wave equipment offers a viable solution in this area.”

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Technavio hardware and semiconductor analysts highlight the following four factors that are contributing to the growth of the global millimeter wave technology equipment market:

  • Proliferation of smartphones and tablets
  • Deployment of next-generation LTE wireless networks
  • Development of 5G network
  • Carrier aggregation

Proliferation of smartphones and tablets

The global smartphone and tablet shipments have registered significant growth in the period between 2010 to 2015, which in turn has created strong demand for cellular network coverage. This generates the need for millimeter wave equipment to support strong signal reception for smartphones and tablets. Millimeter wave equipment can transmit a large amount of data, strengthening signal reception of cellular operators and removing the dead spots. Millimeter wave technology enables voice and data services such as 2G, 3G, and 4G in mobile devices such as smartphones and tablets and supports multiple operators.

Deployment of next-generation LTE wireless networks

The increasing data consumption has led to the high adoption of LTE wireless networks such as 4G, and the growing number of global commercial networks has made LTE as the fastest developing mobile technology. Specific bands that have been designated for LTE differ from carrier to carrier. For instance, Verizon Communications’s iPhone 6s devices use different bands than those sold by AT&T Inc. The use of multiple, widely spaced bands causes an LTE and 3G interference from different RF sources. This interference can be prevented with the deployment of millimeter wave equipment.

Hence, RF components (including millimeter wave equipment) are used to support different standards, applications, band combinations, and mobile operators' requirements. Therefore, the deployment of millimeter wave assists LTE wireless networks to provide better services.

Development of 5G network

Since the invention of cellular devices and their corresponding linking networks, companies have been changing parameters such as transmission speeds, capacity, and other technical characteristics almost every decade. Each new change is referred to as the latest generation.

The fourth-generation, or 4G, digital wireless networks have enabled various smart devices to deliver voice and data communications with bandwidths ranging up to several millions of bits per second. There is a gradual shift toward 5G wireless technology. This technology will help cater to the growing mobile network traffic by enhancing the performance of telecommunication devices. As per Cisco Systems’s recent Visual Networking Index (VNI), the global mobile data traffic is expected to increase ten times between 2014 and 2019, reaching 24.3 Exabyte per month in 2019. The concept of 5G is in its nascent stage. “After implementation, the technology will provide approximately 40 times faster internet speed and at least four times more coverage worldwide than the current 4G LTE wireless communications standard. 5G testing has already started in several countries such as Finland, Russia, and South Korea,” says Sunil.

Carrier aggregation

Carrier aggregation is used in LTE network to increase the bit rate by increasing the bandwidth. Due to carrier aggregation, it is expected that there will be an increase in the RF content in smartphones and tablets. Carrier aggregation combines a wide range of available spectrum using two or more bands at the same time to increase download and upload speeds. At present, it is not a broad concept, but it has already been implemented in South Korea and in 2016, it will be implemented in the US as well.

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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770

Release Summary

Technavio analysts forecast the global millimeter wave technology equipment market to grow at a CAGR of more than 47% during the forecast period, according to their latest report.


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770