Millimeter Wave Technology Market By Product (Scanner Systems, Radar & Satellite Communication Systems, Telecommunication Equipment); By Component (Communication & Networking Components, Imaging Components, RF & Radio Components, Sensors and Controls, Interface Components, Power & Battery Components, Others); By Application (Mobile & Telecom, Commercial, Healthcare, Transportation, Military, Defense, Aerospace, Others) - Global Demand Analysis & Opportunity Outlook 2027

Global Millimeter Wave Technology Market Overview

The millimeter wave technology is also referred as extremely high frequency. It operates at a frequency range between 30 Ghz and 300 Ghz. The adoption of fifth-generation technology will led to the growth of 5G technology. Millimeter wave supports wireless communications with best convergence of Wi-Fi and cellular services. Millimeter wave technology is widely used in sectors such as consumer & commercial, mobile & telecommunication and healthcare.

Market Size and Forecast

It is expected that the market for millimeter wave technology will grow rapidly during the forecasted period at a good CAGR. Rapid rise in demand for higher bandwidths and high data speeds are expected to drive the growth of millimeter wave technology market globally over the forecasted period. Millimeter wave technology is in great demand in telecommunication industry which also expected to increase the market growth of millimeter wave technology globally over the forecasted period. The global millimeter wave technology market is studied for the Asia Pacific (China, Japan, India and rest of Asia Pacific), North America (the U.S., Mexico, and Canada), Europe (the U.K, Germany) and Rest of the World.

North American holds the largest share in the market, in terms of revenue due to deep research in military applications and presence of this technology in sonar, radar and secure military communications. Increasing need for high-speed data transfer coupled with the overuse of the existing spectrum in the telecom industry also expected to bolster the growth of millimeter wave technology market in this region over the forecasted period.

Asia Pacific is anticipated to be the fastest growing market of millimeter wave technology in terms of revenue over the forecasted period due to rising infrastructural deployment for faster access to data, voice, videos and other services. Increasing demand for high-speed network for accessing smart applications on residential and commercial levels are also expected to drive the market of millimeter wave technology in this region over the forecasted period. Setting up new telecom equipment based on the millimeter wave technology also expected to drive the growth of this technology in this region.

Europe is expected to show a positive growth over the forecasted period due to rising technological advancements and research & development activities in the millimeter wave technology. The increasing penetration of internet services, cloud computing and e-governance services also expected to drive the demand for millimeter wave technology market in this region over the forecasted period. Latin America is expected to showcase a lucrative growth over the forecasted period due to rise in the market for the military, aerospace and defense applications with the growing use of this technology in unmanned aerial vehicles (UAVs) and unmanned surface vessels (USVs).

Market Segmentation                                                                           

Our-in depth analysis of the global millimeter wave technology market includes the following segments:

By Product

• Scanner Systems
  • Active Systems
  • Passive System
• Radar & Satellite Communication Systems
  • Perimeter Surveillance Radar
  • Application-Specific Radar Systems
  • Satellite Communication Systems
• Telecommunication Equipment 
• Mobile Backhaul Equipment
• Small Cell Equipment
• Macrocell Equipment

By Component

• Antennas & Transceiver Components
• Frequency Sources and Related Components
• Communication & Networking Components
• Imaging Components
• RF & Radio Components
• Sensors and Controls
• Interface Components
• Power & Battery Components
• Others

By Frequency Band

• Bands Between 8 Ghz-57 Ghz
• Bands Between 57 Ghz-86 Ghz
  • E-Band
  • V-Band
• Bands Between 86 Ghz and 300 Ghz

By License

• Light Licensed Frequency
• Unlicensed Frequency
• Fully Licensed Frequency

By Application

• Mobile & Telecom
• Consumer & Commercial
• Healthcare
• Industrial
• Automotive & Transportation
• Military, Defense, Aerospace
• Others

By Region

Global millimeter wave technology market is further classified on the basis of region as follows:

• North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
• Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
• Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX, Turkey Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis.
• Middle East and Africa (GCC, Israel, North Africa, South Africa, Rest of Middle East) Market size, Y-O-Y growth & Opportunity Analysis

Growth Drivers and Challenges

Increasing mobile data traffic, growing demand for the high speed data connectivity and rising demand for bandwidth intensive applications are the factors expected to drive the growth of millimeter wave technology market over the forecasted period. Technological advances increases the demand for millimeter wave technology in various industrial verticals such as aerospace, defense, healthcare, telecommunication and automobiles. Data-intensive services such as high-speed online gaming, video conferencing, video streaming and media exchange over the internet are expected to spur the demand for high-bandwidth fostering the demand for adoption of millimeter wave technology over the forecasted period.

Advancement of 5G is also expected to drive the market growth of millimeter wave technology globally over the forecasted period. There are many projects ongoing to integrate the millimeter wave technology into the cellular networks to use the millimeter wave band wide spectrum. Around 7 GHz of continuous bandwidth is available globally, at 60 GHz unlicensed bandwidth, which are also expected to drive the market of millimeter wave technology globally over the forecasted period. Non-uniform licensing approach expected to hamper the growth of millimeter wave technology market globally.

Key players

Our-in depth analysis of the global millimeter wave technology market includes the following segments:

• NEC Corporation 
• Company Overview
• Key Product Offerings
• Business Strategy
• SWOT Analysis
• Financials 
• Millivision Technologies
• E-Band Communications, LLC
• BridgeWave Communications, Inc.
• Millivision Technologies
• Farran Technology
• Siklu Communication Ltd.
• ELVA-1
• Vubiq Networks, Inc.
• CableFree: Wireless Excellence

Scope and Context

Overview of the Parent Market

Analyst View

Segmentation

The global millimeter wave technology market is segmented as follows:

• By Product Market Size & Y-O-Y Growth Analysis
• By Component Market Size & Y-O-Y Growth Analysis
• By Frequency Band Market Size & Y-O-Y Growth Analysis
• By License Market Size & Y-O-Y Growth Analysis
• By Application Market Size & Y-O-Y Growth Analysis
• By Region Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment.