Millimeter Wave Technology Market Size, Share, and Analysis, By Product (Scanning System, Telecom Equipment, Radar & Satellite Communication System, and Others), By Component (Antennas and Transceiver, Communications and Networking Components, Interface, Frequency, and Related Components, Imaging, and Other Components), By License Type (Light Licensed, Unlicensed, and Fully Licensed), By Region (North America, Europe, Asia-Pacific, and Rest of the World), And Regional Forecast 2024-2034
Millimeter Wave Technology Market Size, Share, and Analysis, By Product (Scanning System, Telecom Equipment, Radar & Satellite Communication System, and Others), By Component (Antennas and Transceiver, Communications and Networking Components, Interface, Frequency, and Related Components, Imaging, and Other Components), By License Type (Light Licensed, Unlicensed, and Fully Licensed), By Region (North America, Europe, Asia-Pacific, and Rest of the World), And Regional Forecast 2024-2034
PRODUCT OVERVIEW
Millimeter Wave Technology Market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 28.7% during the forecast span from 2024 to 2034. In 2023, the market size was assessed at USD 2.7 billion and is projected to reach USD 42.7 billion by the completion of 2034.
Millimeter wave technology refers to the use of extremely high-frequency electromagnetic waves in the 30 GHz to 300 GHz range, with wavelengths ranging from 10 millimeters to 1 millimeter. This technology has received substantial attention in recent years due to its possible uses across various industries, such as telecommunications and radar. In 5G and other wireless communication networks, millimeter wave technology is fundamentally used to provide high-speed data transmission. These high-frequency waves carry more data than lower frequencies, which makes them ideal for delivering huge volumes of information over short distances. Besides, their ability to travel through certain materials while being obstructed by others allows for the creation of high-resolution images in non-destructive testing and medical diagnostics.
MARKET HIGHLIGHTS
Millimeter wave technology market is projected to reach USD 42.7 billion over the forecast period. The millimeter wave technology market is witnessing substantial interest from major companies, primarily in the telecommunications industry, who are heavily investing in developing new products and services that use this technology. The demand for high-speed data transfer is a major catalyst for the market as millimeter waves allow for fast data transmission over short distances, thus making it ideal for applications like faster wireless internet. In addition, new use cases are continuously emerging, such as security screening at airports, as well as medical imaging, which further boost the adoption of this technology. Furthermore, governments across the world are supporting the adoption of this technology for various applications like 5G networks and defense systems. Thus, the combination of these factors is responsible for the growth of the millimeter wave technology market and its adoption across multiple sectors.
Millimeter Wave Technology Market Segments:
Growth Drivers
5G Technology Growth to Drive the Millimeter Wave Technology Market
High Demand for High-Speed Internet Act as a Catalyst for Market Growth
Restraint
Growth in the Millimeter Wave Technology Market Will Be Affected by Limited Range and Obstruction Issues
Key Players
PRODUCT OVERVIEW
Millimeter Wave Technology Market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 28.7% during the forecast span from 2024 to 2034. In 2023, the market size was assessed at USD 2.7 billion and is projected to reach USD 42.7 billion by the completion of 2034.
Millimeter wave technology refers to the use of extremely high-frequency electromagnetic waves in the 30 GHz to 300 GHz range, with wavelengths ranging from 10 millimeters to 1 millimeter. This technology has received substantial attention in recent years due to its possible uses across various industries, such as telecommunications and radar. In 5G and other wireless communication networks, millimeter wave technology is fundamentally used to provide high-speed data transmission. These high-frequency waves carry more data than lower frequencies, which makes them ideal for delivering huge volumes of information over short distances. Besides, their ability to travel through certain materials while being obstructed by others allows for the creation of high-resolution images in non-destructive testing and medical diagnostics.
MARKET HIGHLIGHTS
Millimeter wave technology market is projected to reach USD 42.7 billion over the forecast period. The millimeter wave technology market is witnessing substantial interest from major companies, primarily in the telecommunications industry, who are heavily investing in developing new products and services that use this technology. The demand for high-speed data transfer is a major catalyst for the market as millimeter waves allow for fast data transmission over short distances, thus making it ideal for applications like faster wireless internet. In addition, new use cases are continuously emerging, such as security screening at airports, as well as medical imaging, which further boost the adoption of this technology. Furthermore, governments across the world are supporting the adoption of this technology for various applications like 5G networks and defense systems. Thus, the combination of these factors is responsible for the growth of the millimeter wave technology market and its adoption across multiple sectors.
Millimeter Wave Technology Market Segments:
- By Product
- Scanning System
- Telecom Equipment
- Radar & Satellite Communication System
- Others
- By Component
- Antennas and Transceiver
- Communications and Networking Components
- Interface
- Frequency and Related Components
- Imaging
- Other Components
- By License Type
- Light Licensed
- Unlicensed
- Fully Licensed
Growth Drivers
5G Technology Growth to Drive the Millimeter Wave Technology Market
High Demand for High-Speed Internet Act as a Catalyst for Market Growth
Restraint
Growth in the Millimeter Wave Technology Market Will Be Affected by Limited Range and Obstruction Issues
Key Players
- Qualcomm Inc.
- Nokia Corporation
- Ericsson
- Samsung Electronics Co., Ltd.
- Huawei Technologies Co., Ltd.
- Siklu Communication Ltd.
- Keysight Technologies Inc.
- NEC Corporation
- Aviat Networks, Inc.
- L3Harris Technologies, Inc.
- BridgeWave Communications
- Rohde & Schwarz GmbH & Co KG
- Fujitsu Limited
- Smiths Group plc
- Anokiwave, Inc.
- Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
- Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
- Provision of market value (USD Billion) data for each segment and sub-segment
- Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
- Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
- Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
- The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
- Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
- Provides insight into the market through Value Chain
- Market dynamics scenario, along with growth opportunities of the market in the years to come
- 3-month post-sales analyst support.
1.EXECUTIVE SUMMARY
1.1. Regional Market Share
1.2.Business Trends
1.3. Millimeter Wave Technology Market: COVID-19 Outbreak
1.4. Regional Trends
1.5. Segmentation Snapshot
2. RESEARCH METHODOLOGY
2.1.Research Objective
2.2. Research Approach
2.3. Data Sourcing and Methodology
2.4.Primary Research
2.5.Secondary Research
2.5.1.Paid Sources
2.5.2. Public Sources
2.6. Market Size Estimation and Data Triangulation
3. MARKET CHARACTERISTICS
3.1.Market Definition
3.2.Millimeter Wave Technology Market: COVID-19 Impact
3.3. Key Segmentations
3.4.Key Developments
3.5.Allied Industry Data
4.MILLIMETER WAVE TECHNOLOGY MARKET – INDUSTRY INSIGHTS
4.1. Industry Segmentation
4.2.COVID-19 overview of world economy
4.3.Industry Ecosystem Channel Analysis
4.4.Innovation & Sustainability
5. MACROECONOMIC INDICATORS
6. RECENT DEVELOPMENTS
7. MARKET DYNAMICS
7.1.Introduction
7.2. Growth Drivers
7.3. Market Opportunities
7.4.Market Restraints
7.5. Market Trends
8.RISK ANALYSIS
9. MARKET ANALYSIS
9.1.Porter's Five Forces
9.2. PEST Analysis
9.2.1.Political
9.2.2. Economic
9.2.3. Social
9.2.4. Technological
10.MILLIMETER WAVE TECHNOLOGY MARKET
10.1.Overview
10.2. Historical Analysis (2019-2022)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11. MILLIMETER WAVE TECHNOLOGY MARKET SIZE & FORECAST 2024A-2034F
11.1. Overview
11.2.Key Findings
11.3.Market Segmentation
11.3.1. By Product
11.3.1.1. Scanning System
11.3.1.1.1.By Value (USD Million) 2024-2034F
11.3.1.1.2. Market Share (%) 2024-2034F
11.3.1.1.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.2.Telecom Equipment
11.3.1.2.1. By Value (USD Million) 2024-2034F
11.3.1.2.2.Market Share (%) 2024-2034F
11.3.1.2.3.Y-o-Y Growth (%) 2024-2034F
11.3.1.3.Radar & Satellite Communication System
11.3.1.3.1. By Value (USD Million) 2024-2034F
11.3.1.3.2.Market Share (%) 2024-2034F
11.3.1.3.3.Y-o-Y Growth (%) 2024-2034F
11.3.1.4.Others
11.3.1.4.1. By Value (USD Million) 2024-2034F
11.3.1.4.2.Market Share (%) 2024-2034F
11.3.1.4.3.Y-o-Y Growth (%) 2024-2034F
11.3.2. By Component
11.3.2.1.Antennas and Transceiver
11.3.2.1.1. By Value (USD Million) 2024-2034F
11.3.2.1.2.Market Share (%) 2024-2034F
11.3.2.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.2.2. Communications and Networking Components
11.3.2.2.1.By Value (USD Million) 2024-2034F
11.3.2.2.2. Market Share (%) 2024-2034F
11.3.2.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.2.3. Interface
11.3.2.3.1.By Value (USD Million) 2024-2034F
11.3.2.3.2. Market Share (%) 2024-2034F
11.3.2.3.3. Y-o-Y Growth (%) 2024-2034F
11.3.2.4. Frequency and Related Components
11.3.2.4.1.By Value (USD Million) 2024-2034F
11.3.2.4.2. Market Share (%) 2024-2034F
11.3.2.4.3. Y-o-Y Growth (%) 2024-2034F
11.3.2.5. Imaging
11.3.2.5.1.By Value (USD Million) 2024-2034F
11.3.2.5.2. Market Share (%) 2024-2034F
11.3.2.5.3. Y-o-Y Growth (%) 2024-2034F
11.3.2.6. Other Components
11.3.2.6.1.By Value (USD Million) 2024-2034F
11.3.2.6.2. Market Share (%) 2024-2034F
11.3.2.6.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.By License Type
11.3.3.1.Light Licensed
11.3.3.1.1. By Value (USD Million) 2024-2034F
11.3.3.1.2.Market Share (%) 2024-2034F
11.3.3.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.3.2. Unlicensed
11.3.3.2.1.By Value (USD Million) 2024-2034F
11.3.3.2.2. Market Share (%) 2024-2034F
11.3.3.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.3. Fully Licensed
11.3.3.3.1.By Value (USD Million) 2024-2034F
11.3.3.3.2. Market Share (%) 2024-2034F
11.3.3.3.3. Y-o-Y Growth (%) 2024-2034F
12.NORTH AMERICA MILLIMETER WAVE TECHNOLOGY MARKET SIZE & FORECAST 2024A-2034F
12.1.Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1.By Product
12.3.2. By Component
12.3.3. By License Type
12.4. Country
12.4.1. United States
12.4.2.Canada
13.EUROPE MILLIMETER WAVE TECHNOLOGY MARKET SIZE & FORECAST 2024A-2034F
13.1.Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1.By Product
13.3.2. By Component
13.3.3. By License Type
13.4.Country
13.4.1.Germany
13.4.2. United Kingdom
13.4.3. France
13.4.4. Italy
13.4.5. Spain
13.4.6. Russia
13.4.7. Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
14.ASIA-PACIFIC MILLIMETER WAVE TECHNOLOGY MARKET SIZE & FORECAST 2024A-2034F
14.1. Overview
14.2. Key Findings
14.3.Market Segmentation
14.3.1.By Product
14.3.2. By Component
14.3.3. By License Type
14.4.Country
14.4.1. India
14.4.2. China
14.4.3. South Korea
14.4.4.Japan
14.4.5.Rest of APAC
15.MIDDLE EAST AND AFRICA MILLIMETER WAVE TECHNOLOGY MARKET SIZE & FORECAST 2024A-2034F
15.1.Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1.By Product
15.3.2. By Component
15.3.3. By License Type
15.4.Country
15.4.1. Israel
15.4.2.GCC
15.4.3.North Africa
15.4.4.South Africa
15.4.5.Rest of Middle East and Africa
16. LATIN AMERICA MILLIMETER WAVE TECHNOLOGY MARKET SIZE & FORECAST 2024A-2034F
16.1.Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1.By Product
16.3.2. By Component
16.3.3. By License Type
16.4. Country
16.4.1. Mexico
16.4.2.Brazil
16.4.3.Rest of Latin America
17. COMPETITIVE LANDSCAPE
17.1.Company market share, 2023
17.2. Key player overview
17.3. Key stakeholders
18. COMPANY PROFILES
18.1. Qualcomm Inc.
18.1.1.Company Overview
18.1.2.Financial Overview
18.1.3.Key Product; Analysis
18.1.4.Company Assessment
18.1.4.1.Product Portfolio
18.1.4.2.Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2.Nokia Corporation
18.3.Ericsson
18.4. Samsung Electronics Co., Ltd.
18.5. Huawei Technologies Co., Ltd.
18.6.Siklu Communication Ltd.
18.7.Keysight Technologies Inc.
18.8. NEC Corporation
18.9.Aviat Networks, Inc.
18.10.L3Harris Technologies, Inc.
18.11. BridgeWave Communications
18.12.Rohde & Schwarz GmbH & Co KG
18.13.Fujitsu Limited
18.14.Smiths Group plc
18.15.Anokiwave, Inc.
18.16.Other Prominent Players
19. APPENDIX
20.CONSULTANT RECOMMENDATION
1.1. Regional Market Share
1.2.Business Trends
1.3. Millimeter Wave Technology Market: COVID-19 Outbreak
1.4. Regional Trends
1.5. Segmentation Snapshot
2. RESEARCH METHODOLOGY
2.1.Research Objective
2.2. Research Approach
2.3. Data Sourcing and Methodology
2.4.Primary Research
2.5.Secondary Research
2.5.1.Paid Sources
2.5.2. Public Sources
2.6. Market Size Estimation and Data Triangulation
3. MARKET CHARACTERISTICS
3.1.Market Definition
3.2.Millimeter Wave Technology Market: COVID-19 Impact
3.3. Key Segmentations
3.4.Key Developments
3.5.Allied Industry Data
4.MILLIMETER WAVE TECHNOLOGY MARKET – INDUSTRY INSIGHTS
4.1. Industry Segmentation
4.2.COVID-19 overview of world economy
4.3.Industry Ecosystem Channel Analysis
4.4.Innovation & Sustainability
5. MACROECONOMIC INDICATORS
6. RECENT DEVELOPMENTS
7. MARKET DYNAMICS
7.1.Introduction
7.2. Growth Drivers
7.3. Market Opportunities
7.4.Market Restraints
7.5. Market Trends
8.RISK ANALYSIS
9. MARKET ANALYSIS
9.1.Porter's Five Forces
9.2. PEST Analysis
9.2.1.Political
9.2.2. Economic
9.2.3. Social
9.2.4. Technological
10.MILLIMETER WAVE TECHNOLOGY MARKET
10.1.Overview
10.2. Historical Analysis (2019-2022)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11. MILLIMETER WAVE TECHNOLOGY MARKET SIZE & FORECAST 2024A-2034F
11.1. Overview
11.2.Key Findings
11.3.Market Segmentation
11.3.1. By Product
11.3.1.1. Scanning System
11.3.1.1.1.By Value (USD Million) 2024-2034F
11.3.1.1.2. Market Share (%) 2024-2034F
11.3.1.1.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.2.Telecom Equipment
11.3.1.2.1. By Value (USD Million) 2024-2034F
11.3.1.2.2.Market Share (%) 2024-2034F
11.3.1.2.3.Y-o-Y Growth (%) 2024-2034F
11.3.1.3.Radar & Satellite Communication System
11.3.1.3.1. By Value (USD Million) 2024-2034F
11.3.1.3.2.Market Share (%) 2024-2034F
11.3.1.3.3.Y-o-Y Growth (%) 2024-2034F
11.3.1.4.Others
11.3.1.4.1. By Value (USD Million) 2024-2034F
11.3.1.4.2.Market Share (%) 2024-2034F
11.3.1.4.3.Y-o-Y Growth (%) 2024-2034F
11.3.2. By Component
11.3.2.1.Antennas and Transceiver
11.3.2.1.1. By Value (USD Million) 2024-2034F
11.3.2.1.2.Market Share (%) 2024-2034F
11.3.2.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.2.2. Communications and Networking Components
11.3.2.2.1.By Value (USD Million) 2024-2034F
11.3.2.2.2. Market Share (%) 2024-2034F
11.3.2.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.2.3. Interface
11.3.2.3.1.By Value (USD Million) 2024-2034F
11.3.2.3.2. Market Share (%) 2024-2034F
11.3.2.3.3. Y-o-Y Growth (%) 2024-2034F
11.3.2.4. Frequency and Related Components
11.3.2.4.1.By Value (USD Million) 2024-2034F
11.3.2.4.2. Market Share (%) 2024-2034F
11.3.2.4.3. Y-o-Y Growth (%) 2024-2034F
11.3.2.5. Imaging
11.3.2.5.1.By Value (USD Million) 2024-2034F
11.3.2.5.2. Market Share (%) 2024-2034F
11.3.2.5.3. Y-o-Y Growth (%) 2024-2034F
11.3.2.6. Other Components
11.3.2.6.1.By Value (USD Million) 2024-2034F
11.3.2.6.2. Market Share (%) 2024-2034F
11.3.2.6.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.By License Type
11.3.3.1.Light Licensed
11.3.3.1.1. By Value (USD Million) 2024-2034F
11.3.3.1.2.Market Share (%) 2024-2034F
11.3.3.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.3.2. Unlicensed
11.3.3.2.1.By Value (USD Million) 2024-2034F
11.3.3.2.2. Market Share (%) 2024-2034F
11.3.3.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.3. Fully Licensed
11.3.3.3.1.By Value (USD Million) 2024-2034F
11.3.3.3.2. Market Share (%) 2024-2034F
11.3.3.3.3. Y-o-Y Growth (%) 2024-2034F
12.NORTH AMERICA MILLIMETER WAVE TECHNOLOGY MARKET SIZE & FORECAST 2024A-2034F
12.1.Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1.By Product
12.3.2. By Component
12.3.3. By License Type
12.4. Country
12.4.1. United States
12.4.2.Canada
13.EUROPE MILLIMETER WAVE TECHNOLOGY MARKET SIZE & FORECAST 2024A-2034F
13.1.Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1.By Product
13.3.2. By Component
13.3.3. By License Type
13.4.Country
13.4.1.Germany
13.4.2. United Kingdom
13.4.3. France
13.4.4. Italy
13.4.5. Spain
13.4.6. Russia
13.4.7. Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
14.ASIA-PACIFIC MILLIMETER WAVE TECHNOLOGY MARKET SIZE & FORECAST 2024A-2034F
14.1. Overview
14.2. Key Findings
14.3.Market Segmentation
14.3.1.By Product
14.3.2. By Component
14.3.3. By License Type
14.4.Country
14.4.1. India
14.4.2. China
14.4.3. South Korea
14.4.4.Japan
14.4.5.Rest of APAC
15.MIDDLE EAST AND AFRICA MILLIMETER WAVE TECHNOLOGY MARKET SIZE & FORECAST 2024A-2034F
15.1.Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1.By Product
15.3.2. By Component
15.3.3. By License Type
15.4.Country
15.4.1. Israel
15.4.2.GCC
15.4.3.North Africa
15.4.4.South Africa
15.4.5.Rest of Middle East and Africa
16. LATIN AMERICA MILLIMETER WAVE TECHNOLOGY MARKET SIZE & FORECAST 2024A-2034F
16.1.Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1.By Product
16.3.2. By Component
16.3.3. By License Type
16.4. Country
16.4.1. Mexico
16.4.2.Brazil
16.4.3.Rest of Latin America
17. COMPETITIVE LANDSCAPE
17.1.Company market share, 2023
17.2. Key player overview
17.3. Key stakeholders
18. COMPANY PROFILES
18.1. Qualcomm Inc.
18.1.1.Company Overview
18.1.2.Financial Overview
18.1.3.Key Product; Analysis
18.1.4.Company Assessment
18.1.4.1.Product Portfolio
18.1.4.2.Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2.Nokia Corporation
18.3.Ericsson
18.4. Samsung Electronics Co., Ltd.
18.5. Huawei Technologies Co., Ltd.
18.6.Siklu Communication Ltd.
18.7.Keysight Technologies Inc.
18.8. NEC Corporation
18.9.Aviat Networks, Inc.
18.10.L3Harris Technologies, Inc.
18.11. BridgeWave Communications
18.12.Rohde & Schwarz GmbH & Co KG
18.13.Fujitsu Limited
18.14.Smiths Group plc
18.15.Anokiwave, Inc.
18.16.Other Prominent Players
19. APPENDIX
20.CONSULTANT RECOMMENDATION
