Global millimeter wave (MMW) technology market refers to the millimeter waves which are extremely high-frequency electromagnetic waves that lie in the range of 30GHz to 300 GHz frequency range or 10mm to 1mm wavelength. The millimeter wave technology has the ability to transmit a large amount of data as the frequency is directly proportional to bit rates and provides high beam width at the same time. Thus, the millimeter waves are suitable for transmission of telecommunications, automotive and transport, military and defense, and healthcare security application.

Global Millimeter Wave Technology market was valued $XX million in 2018 and is projected to grow with a CAGR of 30.64% during the forecast period, to reach an expected value of $6153.20 million by the year 2027. The base year considered for the study is 2018 and the forecast period is between 2019 and 2027. Major drivers responsible for market growth are:

• Rising data traffic and demand for bandwidth-intensive applications
• The increasing trend of smartphone ownership
• High investments for the development of 5G infrastructure across the world
• Growing interest in MMW technology in security and radar applications
• The rising potential of MMW technology in consumer electronics

However, the market is primarily driven by rising mobile as well as wireless data traffic. Millimeter wave technology can reduce data traffic pressure on Base Station (BS) of the network, ultimately increasing the speed of communication and improving the quality of the network. As per reports published by technocrats such as Cisco, Ericsson, etc., the total mobile data traffic was recorded to be around XX Exabyte (EB) in 2016 across the globe; which is expected to increase and reach up to more than XX EB by the end of 2022.

Furthermore, as per the Cellular Telecommunications Industry Association (CTIA), wireless data traffic reached XX trillion MB in 2016 showing an increase of XX trillion MB from 2015. Therefore, rising data traffic is expected to drive the adoption of millimeter wave technology across the globe

In 2018, Mobile & Telecommunication dominated the application segment in terms of revenue in the global millimeter wave technology market with around 55.66% market share. The millimeter waves are considered to be the key enabling technology for the successful deployment of 5th generation wireless communication network. The growing telecommunication industry is expected to propel the global millimeter wave technology market over the forecast period. Increasing investment and adoption of 5G technology network is expected to create a huge demand for millimeter wave technology equipment. For instance, in 2016, the Government of United States invested around $XX million into the Advanced Wireless Research Initiative (AWRI), for 5G infrastructure development. Moreover, in the United Kingdom, research institutions at King’s College, London along with the Universities of Surrey and Bristol together invested about $XX million for research and development of 5G infrastructure in 2017. Such investments in 5G could fuel the development in wireless infrastructure and network and promote the growth of the global millimeter wave technology market during the forecast period.

On the flip side, the primary factor limiting the growth of MMW technology market is propagation limitations associated with these high frequencies. The propagation limitations such as; Atmospheric absorption, Scattering (Rain also affects the propagation of millimeter waves), Mechanical resonance, & Brightness temperature are restraining the growth of the millimeter wave technology market. Moreover, adverse effect on the environment, health-related issues & range barrier in millimeter wave technology are limiting the market growth. Also, Non-uniform and fragmented licensing practices is another major challenge for market growth.

The report on global Millimeter Wave Technology market includes segmentation on the basis of product, frequency band, License type, components, and applications. Their further segmentation is as follows:

Market by Product & Service:

• Scanner systems
• Telecommunication equipment
• Radar & satellite communication systems

Market by Frequency Band:

• 30 GHz and 57 GHz
• 57 GHz and 86 GHz
• 86 GHz and 300 GHz

Market by License Type:

• Light licensed frequency
• Unlicensed frequency
• Fully licensed frequency

Market by Application:

• Mobile & telecommunication
• Consumer & commercial
• Healthcare
• Industrial
• Automotive and transportation
• Military, defence, and aerospace
• Imaging

Market by Components:

• Antennas and transceiver components
• Frequency sources and related components
• Communication and networking components
• Imaging components
• RF and radio components
• Sensors and controllers
• Interface components
• Power and battery components

The report scope is widely characterized by products in the millimeter wave technology market. The report scope is restricted to the revenues generated from the sales of these products and does not include revenues generated from the maintenance and deployment of these products.

Geographically, the global millimeter wave technology market was segmented into four key regions as follows:

• North America Millimeter Wave Technology Market : United States, Canada
• Europe Millimeter Wave Technology Market : United Kingdom, Germany, France, Spain, Sweden, Rest of Europe.
• Asia Pacific Millimeter Wave Technology Market : China, Japan, India, South Korea, Australia, Rest of Asia Pacific.
• Rest of World: Latin America, Middle East & Africa

North America is the global leader in the overall MMW Technology market, withholding 39.88% revenue share in 2018. North America’s Millimeter Wave Technology market is driven by the increasing licensing of millimeter frequency band coupled with high funding for 5G infrastructure deployment amid high wireless data traffic that has created the demand for efficient wireless backhaul solutions. As per the Science and Economic Development (ISED), in June 2017, Canada is initiating a consultation on releasing millimeter  wave spectrum in the 28 GHz, 37- 40 GHz and 64-71 GHz frequency band to support the deployment of 5G wireless systems and networks. Further, as per advanced wireless research initiative (AWRI), the USA government is likely to invest more than $XX million within the next eight years (2019-2027). Such a high investment for the deployment of 5G infrastructure is expected to drive the demand for the market in North America over the forecast period.

On the other hand, the Asia Pacific millimeter wave technology market is expected to grow with the highest CAGR. The market in this region is primarily driven by increasing data consumption that has created the demand for efficient wireless backhaul solutions and the high infrastructural investments for setting up the 5th generation wireless network. As per the CISCO VNI (Released in 2016), Asia Pacific will account for XX% of global data traffic by 2021, and mobile data traffic in the Asia Pacific will likely reach XX Exabyte’s by 2021, up from XX Exabytes in 2016.

Global millimeter wave technology market has been segmented by products, frequency band, license type and by the application. The application segment is further sub-segmented into Mobile & Telecommunication, Consumer & Commercial, Healthcare, Industrial, Automotive and Transportation, Military, Defense, and Aerospace and Imaging. Product segment of the market includes Scanner Systems, Radar and Satellite Communications Systems & Telecommunication Equipment. Frequency band segment of the market includes: Band Between 30 GHz and 57 GHz, Band Between 57 GHz and 86 GHz & Band Between 86 GHz and 300 GHz. License type segment includes: Light-Licensed Frequency Millimeter wave, Unlicensed Frequency Millimeter wave, Fully Licensed Frequency Millimeter wave. Furthermore, Market by components comprised of Antennas and transceiver components, Frequency sources and related components, Communication and networking components, Imaging components, RF and radio components, Sensors and controllers, Interface components & Power and battery components.

The major players in the Millimeter Wave Technology market are:

• Bridgewave Communications, Inc.
• Siklu Communication Ltd.
• Aviat Networks, Inc.
• E-Band Communications, LLC
• Sage Millimeter
• Other Companies

Market share analysis along with Company profiles of the prominent market players are discussed in detail. Most of the companies look for strategies such as merger & acquisition, partnership, contracts, agreements, and new product launch to sustain in the competitive market. For Instance, In January 2019, Sivers IMA sign agreement for the use of unlicensed 5G in ultra-sonic examination application. Sivers IMA will participate in the development of an unlicensed 5G (WiGig) solution to be used for wireless transfer of high definition ultra-sonic data. In January 2019, Keysight Technologies, Inc. has been selected by Askey Computer Corporation to accelerate development of new 5G designs on millimeter wave (mmWave) frequencies using Keysight’s 5G network emulation solution. In the same month, Fujitsu Network Communications, Inc. and BridgeWave Communications signed an agreement for Fujitsu to supply and support BridgeWave wireless backhaul systems as part of Fujitsu’s end-to-end transport solutions portfolio. In February 2018, Keysight Technologies signed a partnership agreement with Movandi, to test and validate Movandi’s BeamX technology and support optimizing Keysight’s over the air (OTA) test systems.

Key findings of the MMW Technology market are:

• Mobile & Telecommunication application segment is expected to grow with the highest CAGR of XX% during the forecast period 2019-2027.
• The availability of unallocated spectrum in millimeter wave band is therefore expected to provide plenty of growth opportunities for the market.
• Fully licensed frequency band leads the license segment of the global millimeter wave technology market by capturing the largest market share of over XX% in 2018, with an estimated revenue of approximately $XX million.
• Small cell networks are increasing the adoption of millimeter wave technology and paving the way for the growth of the global millimeter wave technology market.
• The increasing interest of automotive manufacturers in millimeter wave radars is providing plenty of growth opportunities for the market.