Millimeter Wave Technology Market Size, Share & Trends Analysis Report By Product, By Component (Amplifiers, Oscillators), By Frequency Band, By Application, By Region, And Segment Forecasts, 2023 - 2030

Millimeter Wave Technology Market Growth & Trends

The global millimeter wave technology market size is expected to reach USD 38.55 billion by 2030, registering a CAGR of 39.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. Millimeter waves are radio frequencies operating in the electromagnetic spectrum of 30 GHz to 300GHz, also known as Extremely High-Frequency (EHF) range. As millimeter waves can transmit large amounts of data with greater efficiency, they hold a significant application across the telecommunication industry.

Fiber-optic cables are one of the best transmission mediums used extensively for data transmission. However, the fiber optics technology is extremely costly, and the network is highly tedious to install, posing the millimeter wave technology as an appealing alternative for the fiber optics medium. Millimeter wave technology is becoming more affordable in high-intensity data transfer applications, thus driving the market’s growth.

The millimeter wave technology market is highly consolidated regarding applications and components, where it is extensively used. The primary application areas of the technology include telecommunication, military & defense, medical, and security services. The advancements in the telecom industry are leading to the evolution of next-generation technologies such as 5G, which is creating significant growth opportunities for the millimeter wave technology market.

Owing to the demand for higher bandwidths in fifth-generation technology, millimeter waves are expected to play a prominent role in developing 5G technology. As the market is experiencing a shift toward adopting fifth-generation technology, the millimeter wave technology market is thus anticipated to grow significantly during the forecast period.

However, only a limited number of devices currently support MMW technology, which may limit its adoption and market potential in the short term. Additionally, deploying MMW technology requires regulatory approval and licensing, which can be a time-consuming and costly process in some regions. Moreover, the implementation cost of MMW technology is relatively high due to the need for specialized equipment and infrastructure, which makes it less accessible and affordable for some markets. However, the market is anticipated to overcome these short-term challenges and witness long-term growth over the forecast period.

Millimeter Wave Technology Market Report Highlights

  • The imaging and scanning systems segment is anticipated to grow significantly over the forecast period. The segment's growth can be attributed to the increasing focus of governments and international security authorities on curbing down global threats and leveraging imaging & scanning systems to do so
  • The amplifiers segment is anticipated to witness significant growth over the forecast period. The need for increased bandwidth, higher data rates in wireless communication systems, and the growing demand for high-speed and low-latency connectivity in emerging applications such as 5G networks, autonomous vehicles, and the Internet of Things (IoT) are contributing to the segment's growth
  • The V band segment is anticipated to grow significantly over the forecast period. As the demand for high-bandwidth applications continues to grow, the V band is expected to play an increasingly critical role in enabling seamless connectivity for businesses and consumers, thus driving the segment's growth
  • The security segment is anticipated to witness significant growth over the forecast period. The increasing demand for MMW scanners for security purposes is expected to boost the MMW technology market. The emerging markets of the Asia Pacific and, South America & MEA regions are expected to be the potential markets capable of offering substantial growth opportunities for the technology, owing to the increasing awareness of security measures
  • Asia Pacific is anticipated to register significant growth over the forecast period. The Asia Pacific region's large population and growing adoption of connected devices and applications create significant opportunities for MMW technology in areas such as IoT, autonomous vehicles, and healthcare. Overall, the Asia Pacific region's favorable market conditions are expected to drive significant growth in the MMW technology market over the forecast period
Please note The report will be delivered in 4-8 business days upon order notification.


Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definitions
1.3. Information Procurement
1.4. Information Analysis
1.4.1. Market Formulation & Data Visualization
1.4.2. Data Validation & Publishing
1.5. Research Scope and Assumptions
1.6. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, and Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.2.1. Raw Material Outlook
3.2.2. Manufacturing & Technology Trends
3.3. Market Dynamics
3.3.1. Market Driver Impact Analysis
3.3.1.1. Growing demand from the bandwidth-intensive applications and the telecommunication sector
3.3.1.2. Increasing adoption of MMW technology in the telecommunication sector and emerging 5G technology
3.3.1.3. Rising adoption of MMW technology in scanners for the security purposes and military & defense, aerospace, and industrial sectors/applications
3.3.2. Market Restraint Impact Analysis
3.3.2.1. Range limitations, line-of-sight communication, and environmental factors interfering with the propagation
3.3.3. Market Opportunity Impact Analysis
3.3.3.1. Growing demand for high speed and reliable network connectivity for IoT applications
3.4. Impact of COVID-19 Pandemic
3.5. Industry Analysis Tools
3.5.1. Porter’s Analysis
3.5.2. PESTEL Analysis
Chapter 4. Millimeter Wave Technology Market: Product Estimates & Trend Analysis
4.1. Product Movement Analysis & Market Share, 2022 & 2030
4.2. Millimeter Wave Technology Market Estimates & Forecast, By Product
4.2.1. Telecommunication Equipment
4.2.2. Imaging & Scanning Systems
4.2.3. Radar & Satellite Communication Systems
Chapter 5. Millimeter Wave Technology Market: Component Estimates & Trend Analysis
5.1. Component Movement Analysis & Market Share, 2022 & 2030
5.2. Millimeter Wave Technology Market Estimates & Forecast, By Component
5.2.1. Antennas & Transceivers
5.2.2. Amplifiers
5.2.3. Oscillators
5.2.4. Control Devices
5.2.5. Frequency Converters
5.2.6. Passive Components
5.2.7. Others (Ferrite Devices, Radiometers, etc.)
Chapter 6. Millimeter Wave Technology Market: Frequency Band Estimates & Trend Analysis
6.1. Frequency Band Movement Analysis & Market Share, 2022 & 2030
6.2. Millimeter Wave Technology Market Estimates & Forecast, By Frequency Band
6.2.1. V-Band
6.2.2. E-Band
6.2.3. Other Frequency Bands
Chapter 7. Millimeter Wave Technology Market: Application Estimates & Trend Analysis
7.1. Application Movement Analysis & Market Share, 2022 & 2030
7.2. Millimeter Wave Technology Market Estimates & Forecast, By Application
7.2.1. Telecommunications
7.2.2. Military & Defense
7.2.3. Automotive & Transport
7.2.4. Healthcare
7.2.5. Electronics & Semiconductor
7.2.6. Security
Chapter 8. Millimeter Wave Technology Market: Regional Estimates & Trend Analysis
8.1. Millimeter Wave Technology Market: Regional Outlook
8.2. North America
8.2.1. North America Millimeter Wave Technology market estimates & forecasts, 2017 - 2030 (USD Million)
8.2.2. U.S.
8.2.2.1. U.S. Millimeter Wave Technology market estimates & forecasts, 2017 - 2030 (USD Million)
8.2.3. Canada
8.2.3.1. Canada Millimeter Wave Technology market estimates & forecasts, 2017 - 2030 (USD Million)
8.2.4. Mexico
8.2.4.1. Mexico Millimeter Wave Technology market estimates & forecasts, 2017 - 2030 (USD Million)
8.3. Europe
8.3.1. Europe Millimeter Wave Technology market estimates & forecasts, 2017 - 2030 (USD Million)
8.3.2. UK
8.3.2.1. UK Millimeter Wave Technology market estimates & forecasts, 2017 - 2030 (USD Million)
8.3.3. Germany
8.3.3.1. Germany Millimeter Wave Technology market estimates & forecasts, 2017 - 2030 (USD Million)
8.3.4. France
8.3.4.1. France Millimeter Wave Technology market estimates & forecasts, 2017 - 2030 (USD Million)
8.4. Asia Pacific
8.4.1. Asia Pacific Millimeter Wave Technology market estimates & forecasts, 2017 - 2030 (USD Million)
8.4.2. China
8.4.2.1. China Millimeter Wave Technology market estimates & forecasts, 2017 - 2030 (USD Million)
8.4.3. India
8.4.3.1. India Millimeter Wave Technology market estimates & forecasts, 2017 - 2030 (USD Million)
8.4.4. Japan
8.4.4.1. Japan Millimeter Wave Technology market estimates & forecasts, 2017 - 2030 (USD Million)
8.4.5. South Korea
8.4.5.1. South Korea Millimeter Wave Technology market estimates & forecasts, 2017 - 2030 (USD Million)
8.4.6. Australia
8.4.6.1. Australia Millimeter Wave Technology market estimates & forecasts, 2017 - 2030 (USD Million)
8.5. South America
8.5.1. Latin America Millimeter Wave Technology market estimates & forecasts, 2017 - 2030 (USD Million)
8.5.2. Brazil
8.5.2.1. Brazil Millimeter Wave Technology market estimates & forecasts, 2017 - 2030 (USD Million)
8.6. MEA
8.6.1. MEA Millimeter Wave Technology market estimates & forecasts, 2017 - 2030 (USD Million)
8.6.2. Kingdom of Saudi Arabia (KSA)
8.6.2.1. Kingdom of Saudi Arabia (KSA) Millimeter Wave Technology market estimates & forecasts, 2017 - 2030 (USD Million)
8.6.3. UAE
8.6.3.1. UAE Millimeter Wave Technology market estimates & forecasts, 2017 - 2030 (USD Million)
8.6.4. South Africa
8.6.4.1. South Africa Millimeter Wave Technology market estimates & forecasts, 2017 - 2030 (USD Million)
Chapter 9. Competitive Landscape
9.1. Company Categorization
9.2. Participant’s Overview
• Aviat Networks, Inc.
• BridgeWave Communications
• E-Band Communications, LLC
• Farran Technology
• Keysight Technologies
• LightPointe Communications, Inc.
• Millitech, Inc.
• NEC Corporation
• QuinStar Technology, Inc.
• Eravant
• Siklu Communication Ltd.
• Trex Enterprises Corporation
9.3. Financial Performance
9.4. Product Benchmarking
9.5. Company Market Positioning
9.6. Company Market Share Analysis, 2022
9.7. Company Heat Map Analysis
9.8. Strategy Mapping
9.8.1. Expansion
9.8.2. Collaborations
9.8.3. Mergers & Acquisitions
9.8.4. New Product Launches
9.8.5. Partnerships
9.8.6. Others

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook
Cookie Settings