Global Millimeter Wave Technology Equipment Market Research to grow at a CAGR of 47.34% during the period 2016-2020
The 62-page research report, titled “Global Millimeter Wave Technology Equipment Market 2016–2020,” offers an in-depth analysis, presenting insight into the key drivers, growth prospects, and opportunities in the market. According to the research study, the global market for millimeter wave technology equipment is expected to register an exponential 47.0% CAGR between 2016 and 2020.
The deployment of next-generation LTE wireless networks and the proliferation of tablets and smartphones are some of the key factors fuelling the growth of the millimeter wave technology equipment market across the globe. In addition, carrier aggregation and the development of 5G network are expected to augment the overall market in the next few years. On the other hand, several issues related to network security and a significant rise in health-related concerns are restricting the market’s growth.
Furthermore, signal distortion owing to atmospheric conditions and range barriers in millimeter wave equipment are anticipated to curtail the growth of the global millimeter wave technology equipment market throughout the forecast period. Nonetheless, the growth in mobile data traffic, cellular network advancements, and the rising inclination of telecom firms towards millimeter wave solutions are anticipated to generate potential opportunities for market players.
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On the basis of application, the global millimeter wave technology equipment market has been categorized into transport, small cell backhaul, macrocell backhaul, and access. Among these, the small cell backhaul segment is leading the global market at present and is projected to continue with its dominance in the coming years. The capability of small cell backhauls to provide interference-free 4G network service is allowing users to deploy radios with integrated technologically-advanced networking solutions and this is the primary factor augmenting this segment of the global market.
From a geographical perspective, the Americas are expected to lead and account for a key share in the global millimeter wave technology equipment market in the forecast period. The high growth of this region can be attributed to the rising adoption of smartphones, the proliferation of smart TVs, and emerging technologies such as the Internet of Things (IoT). Moreover, with the growing popularity of 4G networks, the demand for additional spectrum space in the telecom sector is expected to increase significantly in this region.
The global millimeter wave technology equipment market is highly competitive in nature with the presence of a large number of players operating in it. These players are emphasizing on introducing innovative products and technological advancements to gain a competitive advantage in the global market. The prominent leading players in the global market for millimeter wave technology equipment include Siklu Communication, Sub10 Systems (Fastback Networks), BridgeWave Communications, and E-Band Communications.
Some of the other key players operating in the market are Agilent Technologies, Northrop Grumman, Tensorcom, Vubiq Networks, Millimeter Wave Products, Millitech, Sub10 Systems, Huawei Technologies, Loea, GigaBeam, Smiths Group, and Fujitsu.
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