Increase in Broadband and Mobile Speeds to Propel the Millimeter Wave Technology Market; 19.3% CAGR Projected through 2032- Fact.MR Research
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
Transceiver antennas and components
Frequency sources and relative components
Communication components and networks
RF and radio components
Sensors and controls
Battery power and components
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:
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
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.
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