DUBLIN–(COMMERCIAL WIRE)–The report “MMW Technology Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies, and Forecast, 2022 to 2030” has been added to ResearchAndMarkets.com offering.
The global millimeter wave technology market is estimated to grow at a CAGR of 35.2% during the forecast period (2022-2030). The global millimeter wave technology market is primarily driven by increasing mobile data traffic, demand for bandwidth-intensive applications, and the growing adoption of millimeter wave in small cell backhaul networks.
Exponential increase in data traffic Key driver of market revenue
Data traffic refers to the amount of data that is transferred between the Internet and the hosting account on the web server. With the user moving towards more data-intensive content such as streaming video, augmented reality, voice over data, 4k video, an increasing number of internet users on smartphones, etc., data traffic is expected to increase by the future. Increasing data traffic creates bandwidth complexities and network congestion.
One of the main advantages of millimeter wave technology is the ability to transmit a large amount of data, since the frequency is directly proportional to the bit rates. Thus, millimeter waves are suitable for digital data transmission, cellular communications. This creates the need for efficient wireless mobile backhaul. Researchers and telecom operators are looking to incorporate millimeter wave technology to curb bandwidth shortages and provide data-intensive content with ease, leading to market adoption of millimeter wave technology.
5G, the new buzz that ensures significant growth around the world
Millimeter waves are considered the key enabling technology for the successful deployment of the fifth generation wireless communication network. With increasing investment in 5G infrastructure, a huge demand for equipment based on millimeter wave technology is anticipated. According to the Organization for Economic Co-operation and Development (OECD), the communications network and service environment will become more complex by 2023 and the market for 5G technology will experience immense growth due to continuous advances in infrastructure. 5G network. The US, UK, France, Germany, South Korea, Japan and China are at the forefront of research and testing investments for 5G technology. Such investments in 5G would fuel the development of wireless infrastructure and networks and promote the growth of the global mobile phone and telecommunications market during the forecast period.
Mobile and telecommunications applications account for more than half of market revenue
The global millimeter wave technology market has been segmented on the basis of products, frequency band, license type, and application. The Applications segment is further sub-segmented into Mobile & Telecommunications, Consumer & Commercial, Healthcare, Industrial, Automotive & Transportation, Military, Defense & Aerospace, and Imaging. Mobile & Telecommunication leads the application segment in terms of revenue in the global millimeter wave technology market with a market share of around 55.14% in 2019. Millimeter wave is considered the key enabling technology for the successful deployment of the fifth generation wireless communication network and the growing telecommunications industry. It is expected to drive the global millimeter wave technology market during the forecast period. The increased investment and adoption of 5G technology network is expected to create a high demand for millimeter wave technology equipment. Mobile & Telecom App is expected to grow at a CAGR of 35.9% during the forecast. The telecommunications industry is undergoing a sea change with increasing data consumption and limited bandwidth. With increasing data consumption, the radio frequency spectrum has become congested as all mobile providers work on the same frequency band, leading to slower service and more dropped connections.
Key Topics Covered:
2. Executive Summary
3. Millimeter Wave Technology Market – Business Outlook and Market Dynamics
4. Millimeter Wave Technology Market – By Product Type, 2020-2030, USD (millions)
5. Millimeter Wave Technology Market – By Frequency Band, 2020-2030, USD (Millions)
6. Millimeter Wave Technology Market: By License Type, 2020-2030, USD (Millions)
7. Millimeter Wave Technology Market – By Component, 2020-2030, USD (millions)
8. Millimeter Wave Technology Market – By Application, 2020-2030, USD (Millions)
9. North America millimeter wave technology market, 2020-2030, USD (millions)
10. UK and European Union millimeter wave technology market, 2020-2030, USD (millions)
11. Asia Pacific Millimeter Wave Technology Market, 2020-2030, USD (millions)
12. Latin America millimeter wave technology market, 2020-2030, USD (millions)
13. Middle East and Africa Millimeter Wave Technology Market, 2020-2030, USD (millions)
14. Company Profile
Bridgewave Communications Inc.
E-Band Communications LLC
Farran Technology Ltd.
Keysight Technologies Inc.
Lightpointe Communications Inc.
Aviat Networks Inc.
Proxim Wireless Corporation (acquired by Terabeam Inc.)
Millitech Inc. (acquired by Smiths Group)
Sage Millimeter Inc.
Siklu Communication Ltd.
Trex Business Corporation
quinstar technology inc.
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