DUBLIN--(BUSINESS WIRE)--The "Millimeter Wave Technology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global millimeter wave technology market size reached US$ 1.7 Billion in 2021. Looking forward, the market is set to reach US$ 5.8 Billion by 2027, exhibiting a CAGR of 22.7% during 2021-2027.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Millimeter wave (MMW or mmWave), also known as extremely high frequency (EHF), is an electromagnetic or radio wave that lies within the frequency range of 30-300 GHz with a wavelength between 1-10 mm.
MMW technology is capable of transmitting massive amounts of data at high speed with minimal latency, which assists in increasing the performance, reliability, and bandwidth and scalable capacities. Consequently, the technology is extensively utilized in radio astronomy, remote sensing, automotive radars, wireless sensing, imaging, security screening and telecommunications.
The increasing telecom infrastructural deployments on account of the escalating demand for high-speed networks in the residential and commercial sectors represent one of the key factors stimulating the market growth. Moreover, with the incorporation of MMW technology in radio and satellite communication systems that form an integral part of national security, the security processes have become more efficient and reliable.
This, along with the rising penetration of wireless communication technologies and e-computing services, is acting as another growth-inducing factor. Moreover, millimeter-wave therapy (MWT) is utilized for treating various diseases, such as cardiovascular and gastrointestinal ailments, diabetes, dermatitis, and depression, which, in turn, is also strengthening the market growth.
Furthermore, on account of the increasing internet usage and the escalating need for bandwidth and speed-boosting technologies, the leading players are focusing on introducing MMW technology to meet the capacity requirements of 5G networks.
However, due to the outbreak of the coronavirus disease (COVID-19) and several restrictions imposed by governments of various countries, the launch of 5G networks that relies on MMW technology has been delayed.
Key Questions Answered in This Report:
- What was the size of the global millimeter wave technology market in 2021?
- What is the expected growth rate of the global millimeter wave technology market during 2022-2027?
- What has been the impact of COVID-19 on the global millimeter wave technology market?
- What are the key factors driving the global millimeter wave technology market?
- What is the breakup of the global millimeter wave technology market based on the component?
- What is the breakup of the global millimeter wave technology market based on the product?
- What is the breakup of the global millimeter wave technology market based on the frequency band?
- What is the breakup of the global millimeter wave technology market based on the license type?
- What is the breakup of the global millimeter wave technology market based on the application?
- What are the key regions in the global millimeter wave technology market?
- Who are the key players/companies in the global millimeter wave technology market?
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being
- Aviat Networks Inc.
- AXXCSS Wireless Solutions Inc.
- Farran Technology Ltd.
- Fastback Networks Inc.
- Keysight Technologies Inc.
- L3 Technologies Inc.
- Millimeter Wave Products Inc.
- Mistral Solutions Pvt. Ltd. (AXISCADES Engineering Technologies Ltd.)
- NEC Corporation
- Siklu Communication Ltd.
- Smiths Group Plc
- Vubiq Networks Inc.
Key Market Segmentation:
Breakup by Component:
- Antennas and Transceivers
- Amplifiers
- Oscillators
- Control Devices
- Frequency Converters
- Passive Components
- Others
Breakup by Product:
- Telecommunication Equipment
- Imaging and Scanning Systems
- Radar and Satellite Communication Systems
- Services
Breakup by Frequency Band:
- 30 GHz - 57 GHz
- 57 GHz - 96 GHz
- 96 GHz -300 GHz
Breakup by License Type:
- Light Licensed Frequency Millimeter Wave
- Unlicensed Frequency Millimeter Wave
- Fully Licensed Frequency Millimeter Wave
Breakup by Application:
- Telecommunication
- Military and Defense
- Automotive and Transport
- Healthcare
- Electronics and Semiconductor
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/mcn6h8
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