The global millimeter wave (MMW) technology market is
estimated to reach USD 8.69 billion by 2025, according to the new report by
Grand View Research, Inc. Millimeter waves are radio frequencies operating in
the electromagnetic spectrum of 30 GHz to 300GHz, also known as Extremely
High-Frequency (EHF) range. As the millimeter waves are capable of transmitting
large amounts of data with greater efficiency, they hold a major application
across the telecommunication industry.
Currently, fiber-optic cables are
one of the best transmission mediums being used, extensively, for data
transmission. However, the fiber optics technology is extremely costly and the
network is highly tedious to install, posing the millimeter wave technology as
an appealing alternative for the fiber-optics medium.
The millimeter waves technology
market is highly consolidated, in terms of applications and components, where
it is extensively used. The major application areas of the technology include
telecommunication, military & defense, medical, and security services. The
advancements in the telecom industry are leading to the evolution of
next-generation technologies such as 5G.
Owing to the demand for higher
bandwidths in the fifth-generation technology, millimeter waves are expected to
play a prominent role in the development of 5G technology. As the market is
experiencing a shift toward the adoption of fifth-generation technology, the
millimeter wave technology market is thus anticipated to grow, significantly,
during the forecast period.
Moving further, the increasing
focus of the governments and international security authorities toward curbing
down the global threats, looming due to the increasing terrorist activities,
such as plane hijacking and bomb-blasts, is leading to the adoption of enhanced
security measures. These measures prominently include the adoption of
millimeter wave scanners across international airports and other crowded places
in the urban areas.
The increasing demand of MMW
scanners for security purposes is expected to boost the MMW technology market.
The emerging markets of the Asia Pacific and South America & MEA regions
are the expected to be the potential markets capable of offering strong growth
opportunities for the technology, owing to the increasing awareness of security
measures.
Intensive R&D activities and
investments from the private and publics sectors, coupled with government
funding & initiatives, are paving way for improved technologies.
Additionally, the increasing use of MMW in the telecom sector and small cell
backhaul applications are projected to be the key driving factors responsible
for the overall industry growth.
North America contributed for the
majority of the market share of more than 45.0% in 2015. The massive market
share across the region can be accredited to the extensive adoption of the MMW
technology in several sectors. However, the Asia Pacific region is expected to
exhibit the remarkable growth over the estimated duration.
The millimeter waves are prone to
environmental conditions such as rainfall, humidity, and fog, as their
propagation characteristics are hampered by these conditions. Besides, range
limitations and line-of-sight communication are few other factors that may
hinder the applications of the technology. However, the obstructions hindering
the growth of the market are expected to overcome with time, lowering their
impact, owing to the intense R&D being carried out by the researchers and
the key players in the MMW technology area.
Browse full research report on Millimeter Wave (MMW)
Technology Market: http://www.grandviewresearch.com/industry-analysis/millimeter-wave-mmw-technology-market
Further key findings from
the report suggest:
- The millimeter wave technology is gaining attraction,
owing to its ability to transmit large amounts of data with greater
efficiency
- Furthermore, the increasing use of MMW technology in
small-cell backhaul applications and the upcoming 5G technology are
expected to drive the market, worldwide
- The radar & satellite communication systems
segment is projected to dominate the market with the fastest growing CAGR
of beyond 42.0% during the forecast period
- As the fiber-optics technology is a costly medium for
data transmission, millimeter waves are gaining traction, owing to their
lower cost and equally efficient technology
- The E-band frequency segment is poised to witness the
highest growth rate, owing to its extensive applications in
telecommunication equipment and products
- The Asia Pacific market is anticipated to undergo a
considerable shift on account of the increasing telecommunication and
military & defense applications in countries such as China, and Japan.
- The prominent players in the millimeter wave industry
include Siklu Communication Ltd., Sage Millimeter, Inc., Keysight
Technologies, Inc., and Bridgewave Communications, Inc.
Browse more reports of this category by Grand View
Research:
Grand View Research has segmented
the MMW Technology market based on product, component, application, frequency
band, and region:
MMW Technology Product Outlook
(Revenue, USD Million; 2014 - 2025)
- Telecommunication Equipment
- Imaging & Scanning Systems
- Radar & Satellite Communication Systems
MMW Technology Component
Outlook (Revenue, USD Million; 2014 - 2025)
- Antennas & Transceivers
- Amplifiers
- Oscillators
- Control Devices
- Frequency Converters
- Passive Components
- Others
MMW Technology Application
Outlook (Revenue, USD Million; 2014 - 2025)
- Telecommunications
- Military & Defense
- Automotive & Transport
- Healthcare
- Electronics & Semiconductor
- Security
MMW Technology Frequency Band
Outlook (Revenue, USD Million; 2014 - 2025)
- V-Band
- E-Band
- Other Frequency Bands
MMW Technology Regional
Outlook (Revenue, USD Million; 2014 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- Asia Pacific
- China
- Japan
- South America and The Middle East & Africa (MEA)
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting services.
To help clients make informed business decisions, we offer market intelligence
studies ensuring relevant and fact-based research across a range of industries,
from technology to chemicals, materials and healthcare.
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