Global Millimeter Wave Technology Market Research Report 2023

The global millimeter wave technology market is expected to grow at a CAGR of 35.2% between 2017 and 2023

The millimeter wave technology market is expected to be worth USD 2,302.6 million by 2022, growing at a CAGR of 35.2% between 2017 and 2023. The growing mobile data traffic and demand for bandwidth-intensive applications, increasing usage of millimeter wave in small-cell backhaul networks, rising demand for innovative applications in radar and security, and high potential for the use of millimeter wave technology in consumer electronics are among the major factors driving the growth of this market. However, the increase in the number of towers and other equipment leads to large-scale deforestation also result in high fuel consumption and radiation, thus impacting the environment. This is expected to limit the market growth over the next few years.

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The global millimeter wave technology market for mobile and telecom applications held the largest market share in 2016

The global millimeter wave technology market for mobile and telecom applications held the largest market share in 2016. This is attributed to the need for high bandwidth to serve new and existing subscribers using extensive mobile data. Also, the components used for infrastructure in the testing of the 5G technology, primarily by AT&T and Verizon, are based on millimeter wave technology.

Telecommunication equipment market is expected to witness significant growth between 2017 and 2023

The market for telecommunication equipment is expected to grow significantly during the forecast period owing to the growing use of millimeter wave technology-based components in the 5G infrastructure, which is anticipated to be commercialized in the later phase of the forecast period. The telecom infrastructure primarily includes small cell mobile backhaul, which is a key product in telecom equipment.

Research Coverage:

This research report categorizes the global millimeter wave technology market on the basis of product, frequency band, license type, application, component, and geography. The report discusses the major drivers, restraints, challenges, and opportunities pertaining to the market; value chain analysis; and market ranking analysis.

Reasons to Buy the Report

The report would help leaders/new entrants in this market in the following ways:

  1. This report segments the millimeter wave technology market comprehensively and provides the closest market size estimation for subsegments across different regions.
  2. The report would help stakeholders understand the pulse of the market and provide them the information on key drivers, restraints, challenges, and opportunities for market growth.
  3. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, product launches, acquisitions, partnerships, expansions, agreements, contracts, alliances, and collaborations.

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