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.
Access Full Research Report on Global Millimeter Wave
(MMW) Technology Market:
http://www.grandviewresearch.com/industry-analysis/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.
View more related
reports from same category by Grand View Research:
Grand View Research
has segmented the Global Millimeter
Wave (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)
Access Blog on this research report by Grand View
Research: http://www.grandviewresearch.com/blog/millimetre-wave-mmw-technology-market-size-share
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.
For More Information: www.grandviewresearch.com
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