Millimeter Wave Technology Market Report: Trends, Forecast and Competitive Analysis to 2030

Millimeter Wave Technology Market Report: Trends, Forecast and Competitive Analysis to 2030

Millimeter Wave Technology Trends and Forecast

The future of the global millimeter wave technology market looks promising with opportunities in the mobile and telecommunication, consumer and commercial, healthcare, industrial, automotive & transportation, military, and aerospace & defense markets. The global millimeter wave technology market is expected to reach an estimated $18.2 billion by 2030 with a CAGR of 30.0% from 2024 to 2030. The major drivers for this market are growing mobile data traffic and demand for bandwidth-intensive applications, increasing use of millimeter wave in small-cell backhaul networks, and increasing demand for innovative applications in radar and security applications.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Millimeter Wave Technology by Segment

The study includes a forecast for the global millimeter wave technology by technology type, frequency band, license type, end use industry, and region.

Millimeter Wave Technology Market by Technology Type [Shipment Analysis by Value from 2018 to 2030]:

• Scanner Systems
• Radar And Satellite Communication Systems
• Telecommunication Equipment
• Others

Millimeter Wave Technology Market by Frequency Band [Shipment Analysis by Value from 2018 to 2030]:

• Band Between 30 Ghz And 57 Ghz
• Band Between 57 Ghz And 86 Ghz
• Band Between 86 Ghz And 300 Ghz

Millimeter Wave Technology Market by License Type [Shipment Analysis by Value from 2018 to 2030]:

• Light Licensed Frequency
• Unlicensed Frequency
• Fully Licensed Frequency

Millimeter Wave Technology Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:

• Mobile & Telecommunications
• Consumer & Commercial
• Healthcare
• Industrial
• Automotive and Transportation
• Military, Defense, and Aerospace
• Imaging

Millimeter Wave Technology Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Millimeter Wave Technology Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies millimeter wave technology companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the millimeter wave technology companies profiled in this report include-

• Ridgewave Communications
• E-Band Communications
• Lightpointe Communications
• Siklu Communication
• Vubiq Networks
• Loea Corporation
• Renaissance Electronics & Communications
• Millivision Technologies
• Fujitsu
• Amplus Communication

Millimeter Wave Technology Market Insights

Lucintel forecasts that telecommunication equipment will remain the largest segment over the forecast period.

Within this market, mobile and telecommunication will remain the highest growing segment over the forecast period because of development in 5G technology, as well as transferring high-definition image data onto a cloud network in real-time.

APAC will remain the highest growing region over the forecast period due to growing population, increasing demand of high-speed networks, and rising implementation of 5G networks in the region.

Features of the Global Millimeter Wave Technology Market

Market Size Estimates: Millimeter wave technology market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Millimeter wave technology market size by various segments, such as by technology type, frequency band, license type, end use industry, and region in terms of ($B).

Regional Analysis: Millimeter wave technology market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different technology types, frequency bands, license types, end use industries, and regions for the millimeter wave technology market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the millimeter wave technology market.

Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q.1 What is the millimeter wave technology market size?

Answer: The global millimeter wave technology market is expected to reach an estimated $18.2 billion by 2030.

Q.2 What is the growth forecast for millimeter wave technology market?

Answer: The global millimeter wave technology market is expected to grow with a CAGR of 30.0% from 2024 to 2030.

Q.3 What are the major drivers influencing the growth of the millimeter wave technology market?

Answer: The major drivers for this market are growing mobile data traffic and demand for bandwidth-intensive applications, increasing use of millimeter wave in small-cell backhaul networks, and increasing demand for innovative applications in radar and security applications.

Q4. What are the major segments for millimeter wave technology market?

Answer: The future of the millimeter wave technology market looks promising with opportunities in the mobile and telecommunication, consumer and commercial, healthcare, industrial, automotive & transportation, military, and aerospace & defense markets.

Q5. Who are the key millimeter wave technology market companies?

Answer: Some of the key millimeter wave technology companies are as follows:

• Ridgewave Communications
• E-Band Communications
• Lightpointe Communications
• Siklu Communication
• Vubiq Networks
• Loea Corporation
• Renaissance Electronics & Communications
• Millivision Technologies
• Fujitsu
• Amplus Communication

Q6. Which millimeter wave technology market segment will be the largest in future?

Answer: Lucintel forecasts that telecommunication equipment will remain the largest segment over the forecast period.

Q7. In millimeter wave technology market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the highest growing region over the forecast period due to growing population, increasing demand of high-speed networks, and rising implementation of 5G networks in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for the millimeter wave technology market by technology (scanner systems, radar and satellite communication systems, and telecommunication equipment), frequency band (band between 30 Ghz and 57 Ghz, band between 57 Ghz and 86 Ghz , and band between 86 Ghz and 300 Ghz), license type (light licensed frequency, unlicensed frequency, and fully licensed frequency), end use industry (mobile & telecommunication, consumer & commercial, healthcare, industrial, automotive and transportation, military, defense & aerospace, and imaging), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?

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