Increase in Broadband and Mobile Speeds to Propel the Millimeter Wave Technology Market; 19.3% CAGR Projected through 2032- Fact.MR Research

Increase in Broadband and Mobile Speeds to Propel the Millimeter Wave Technology Market; 19.3% CAGR Projected through 2032- Fact.MR Research

  • Technology
  • July 4, 2022
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  • 15 minutes read



Technological advances in digital network connections have linked a number of devices to improving health, education and various other sectors of the economy. The integration of autonomous millimeter wave technology in these devices is also gaining momentum with the expansion of the global market

Seoul, South Korea, July 5, 2022 (GLOBE NEWSWIRE) – The millimeter-wave technology market is expected to reach a valuation of $ 12.7 billion in 2032 from $ 2.2 billion million dollars in 2022, rising rapidly to a CAGR of 19.3% over the entire period. the forecast period. Increased broadband and mobile speeds, increased use of millimeter waves in small and large cell backhaul networks demand for millimeter wave technology in security and radar applications, they all drive the millimeter wave technology market.

The adoption of millimeter wave technology is growing due to the increased consumption of high bandwidth content and the use of applications. Fiber-to-the-home (FTTH) adoption, cable broadband adoption, high-speed DSL adoption, and general broadband penetration are factors influencing the demand for thousand-wave technology. · Meters.

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In addition, there is a growing demand for millimeter-wave technology in the military, aerospace and defense sectors due to the ease and speed with which information, such as orders and orders, can be exchanged, while maintaining high connectivity and security through the use of various applications. . These reasons are expected to drive the market adoption of millimeter wave technology to new heights.

This millimeter-wave technology market is gaining strength in a variety of industrial and commercial industries, such as smart wearables, smartphones, and smart watches, which require wireless connectivity.

Advances in the digital network connect a large number of devices and sensors, enabling advances in healthcare, education, transportation, automotive, telecommunications and other areas.

Autonomous millimeter wave technology is increasingly used in hospitals for medical imaging. Demand for millimeter-wave technology is expected to increase as it is used in the telecommunications industry to transport data over long distances.

In addition, as the requirement for larger bandwidth grows, the demand for millimeter-wave technology grows, as it allows high data transfer at a high speed.

Consumer demand for connected devices such as smartphones, tablets and other devices is driving the adoption of millimeter-wave technology. The demand for millimeter wave technology is growing as it has a number of advantages over fiber optics, such as increased bandwidth, speed and security.

Increasing demand for imaging equipment, networks, monitors and, most importantly, security is driving the adoption of multimeter wave technology in the healthcare and aerospace industries.

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Key segments covered in Millimeter wave technology Sector survey

  • By component:

    • Transceiver antennas and components

    • Frequency sources and relative components

    • Communication components and networks

    • Image components

    • RF and radio components

    • Sensors and controls

    • Interface components

    • Battery power and components

    • Other Components

  • By product:

  • By frequency band:

    • 24 to 57 GHz

    • 57 to 95 GHz

    • 95 to 300 GHz

  • By license type:

    • Light FMW license

    • FMW without license

    • Fully licensed FMW

  • For end use:

Competitive landscape

The key players in the millimeter wave technology market are Axxcss Wireless Solutions (USA), NEC Corporation (Japan), Siklu Communication (Israel), L3HARRIS (USA), Smiths Group (UK), Eravant (USA) , Soon Networks (USA), Farran Technologies (Ireland) and Millimeter Wave Products (USA).

To increase their market position, these organizations have used both organic and inorganic growth tactics, such as product launches and installations, contracts, mergers, collaborations, partnerships, and expansions.

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Key players in the Millimeter wave technology Market

Recent developments

  • Eravant launched custom waveguide solutions in March 2020, including custom waveguide sections and flanges.

  • Keysight and VIOMI, the pioneer of IoT @ Home, announced a partnership in March 2020 to accelerate the deployment of the 5G-enabled IoT smart home. The radio frequency (RF) performance of VIOMI IoT devices for home applications was validated using Keysight 5G solutions.

  • NEC and Altiostar, the world leader in open and virtualized RAN (vRAN) technologies ready for 5G, announced a partnership in January 2020 to accelerate the adoption of open vRAN 4G / 5G solutions.

  • NEC launched a millimeter-wave distributed antenna radio unit in January 2020, which allowed for more efficient use of the 5G millimeter-wave spectrum (28 GHz band) and therefore , a better channel quality for indoor 5G applications.

About the technology division of Fact.MR

Expert analysis, useful knowledge and strategic recommendations from Fact.MR’s highly experienced technology team helps clients around the world with their unique business intelligence needs. With a repertoire of more than a thousand reports and more than 1 million data points, the team has analyzed the technology industry in more than 50 countries for more than a decade. The team offers unparalleled end-to-end research and consulting services.

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