The global millimeter wave technology market is expected to reach an estimated $10.8 billion by 2028 with a CAGR of 30% from 2023 to 2028.
The future of the millimeter wave technology market looks promising with opportunities in the telecommunication, military & defense, automotive & transport, healthcare, electronic & semiconductor, and security applications. The major drivers for this market are growing usage of millimeter waves in small-cell backhaul connections, increasing broadband internet speeds, and emergence of 5G networks globally.
Answer: The global millimeter wave technology market is expected to reach an estimated $10.8 billion by 2028.
Q2. What is the growth forecast for millimeter wave technology market?
Answer: The global millimeter wave technology market is expected to grow with a CAGR of 30% from 2023 to 2028.
Q3. What are the major drivers influencing the growth of the millimeter wave technology market?
Answer: The major drivers for this market are growing usage of millimeter waves in small-cell backhaul connections, increasing broadband internet speeds, and emergence of 5G networks globally.
Q4. What are the major segments for millimeter wave technology market?
Answer: The future of the millimeter wave technology market looks promising with opportunities in the telecommunication, military & defense, automotive & transport, healthcare, electronic & semiconductor, and security applications.
Q5. Who are the key millimeter wave technology companies?
Answer: Some of the key millimeter wave technology companies are as follows:
Answer: It is forecast that telecommunication equipment will remain the largest segment over the forecast period due to the increasing mmWave use to boost spectrum utilization by widening spectrum bandwidth and growing use of this technology in 5G networks because of their capacity for transmitting gigabits of data per second.
Q7. In millimeter wave technology market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region due to the rapid technological advancement, existence of key players, and widespread application of mmWave technology in various end-use industries of the region.
Q8. Do we receive customization in this report?
Answer: Yes, 10% customization is provided without any additional cost.
Q2. Which segments will grow at a faster pace and why?
Q3. Which region will grow at a faster pace and why?
Q4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q5. What are the business risks and competitive threats in this market?
Q6. What are the emerging trends in this market and the reasons behind them?
Q7. What are some of the changing demands of customers in the market?
Q8. What are the new developments in the market? Which companies are leading these developments?
Q9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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The future of the millimeter wave technology market looks promising with opportunities in the telecommunication, military & defense, automotive & transport, healthcare, electronic & semiconductor, and security applications. The major drivers for this market are growing usage of millimeter waves in small-cell backhaul connections, increasing broadband internet speeds, and emergence of 5G networks globally.
Millimeter Wave Technology Market by Segment
The study includes a forecast for the global millimeter wave technology market by product, component, frequency band, application, and region, as follows:Millimeter Wave Technology Market by Product [Shipment Analysis by Value from 2017 to 2028]:
- Telecommunication Equipment
- Imaging & Scanning Systems
- Radar & Satellite Communication Systems
Millimeter Wave Technology Market by Component [Shipment Analysis by Value from 2017 to 2028]:
- Antennas & Transceivers
- Amplifiers
- Oscillators
- Control Devices
- Frequency Converters
- Passive Components
- Others
Millimeter Wave Technology Market by Frequency Band [Shipment Analysis by Value from 2017 to 2028]:
- V-Band
- E-Band
- Others
Millimeter Wave Technology Market by Application [Shipment Analysis by Value from 2017 to 2028]:
- Telecommunications
- Military & Defense
- Automotive & Transport
- Healthcare
- Electronics & Semiconductor
- Security
Millimeter Wave Technology Market by Region [Shipment Analysis by Value from 2017 to 2028]:
- North America
- Europe
- Asia Pacific
- The Rest of the World
List of Millimeter Wave Technology Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies millimeter wave technology companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the millimeter wave technology companies profiled in this report include.- Aviat Networks
- BridgeWave Communications
- E-Band Communications
- Farran Technology
- Keysight Technologies
Millimeter Wave Technology Market Insights
- It is forecast that telecommunication equipment will remain the largest segment over the forecast period due to the increasing usage of mmWave technology to boost spectrum utilization as well as spectrum bandwidth and growing use of this technology in 5G networks owing to its capacity of transmitting gigabits of data per second.
- Telecommunication is expected to remain the largest segment due to the escalating need for high-speed data transport and communication from business and residential sectors, including data centers and IT organizations.
- North America will remain the largest region due to the rapid technological advancement, existence of key players, and widespread application of mmWave technology in various end-use industries of the region.
Features of the Millimeter Wave Technology Market
- Market Size Estimates: Millimeter wave technology market size estimation in terms of value.
- Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
- Segmentation Analysis: Millimeter wave technology market size by various segments, such as by product, component, frequency band, application, and region
- Regional Analysis: Millimeter wave technology market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
- Growth Opportunities: Analysis on growth opportunities in different by product, component, frequency band, application, and regions for the millimeter wave technology market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape for the millimeter wave technology market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQs
Q1. What is the millimeter wave technology market size?Answer: The global millimeter wave technology market is expected to reach an estimated $10.8 billion by 2028.
Q2. What is the growth forecast for millimeter wave technology market?
Answer: The global millimeter wave technology market is expected to grow with a CAGR of 30% from 2023 to 2028.
Q3. What are the major drivers influencing the growth of the millimeter wave technology market?
Answer: The major drivers for this market are growing usage of millimeter waves in small-cell backhaul connections, increasing broadband internet speeds, and emergence of 5G networks globally.
Q4. What are the major segments for millimeter wave technology market?
Answer: The future of the millimeter wave technology market looks promising with opportunities in the telecommunication, military & defense, automotive & transport, healthcare, electronic & semiconductor, and security applications.
Q5. Who are the key millimeter wave technology companies?
Answer: Some of the key millimeter wave technology companies are as follows:
- Aviat Networks
- BridgeWave Communications
- E-Band Communications
- Farran Technology
- Keysight Technologies
Answer: It is forecast that telecommunication equipment will remain the largest segment over the forecast period due to the increasing mmWave use to boost spectrum utilization by widening spectrum bandwidth and growing use of this technology in 5G networks because of their capacity for transmitting gigabits of data per second.
Q7. In millimeter wave technology market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region due to the rapid technological advancement, existence of key players, and widespread application of mmWave technology in various end-use industries of the region.
Q8. Do we receive customization in this report?
Answer: Yes, 10% customization is provided without any additional cost.
This report answers following 11 key questions:
Q1. What are some of the most promising, high-growth opportunities for the millimeter wave technology market by product (telecommunication equipment, imaging & scanning systems, and radar & satellite communication systems), component (antennas & transceivers, amplifiers, oscillators, control devices, frequency converters, passive components, and others), frequency band (v-band, e-band, and others), application (telecommunications, military & defense, automotive & transport, healthcare, electronics & semiconductor, and security), and region (North America, Europe, Asia Pacific, and the Rest of the World)?Q2. Which segments will grow at a faster pace and why?
Q3. Which region will grow at a faster pace and why?
Q4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q5. What are the business risks and competitive threats in this market?
Q6. What are the emerging trends in this market and the reasons behind them?
Q7. What are some of the changing demands of customers in the market?
Q8. What are the new developments in the market? Which companies are leading these developments?
Q9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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Table of Contents
1. Executive Summary
*Full List of Figures and Tables Available on Enquiry. 2. Global Millimeter Wave Technology Market: Market Dynamics
3. Market Trends and Forecast Analysis from 2017 to 2028
4. Market Trends and Forecast Analysis by Region from 2017 to 2028
5. Competitor Analysis
6. Growth Opportunities and Strategic Analysis
7. Company Profiles of Leading Players
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Aviat Networks
- BridgeWave Communications
- E-Band Communications
- Farran Technology
- Keysight Technologies
Methodology
The analyst has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets/applications and served over 1,000 clients worldwide. Each study is a culmination of four months of full-time effort performed by the analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in the market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of professionals, who have analyzed and tracked the market over the years.
Extensive research and interviews are conducted in the supply chain of the market to estimate market share, market size, trends, drivers, challenges and forecasts.
Thus, the analyst compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. The analyst then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process.
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