Millimeter Wave Technology Market worth $5.23 billion by 2025 with a growing CAGR of 41.5%

According to the new market research report on the "Millimeter Wave Technology Market by Product (Scanner Systems, Telecommunication Equipment), Frequency Band, License Type, Application (Automotive, Mobile & Telecom, Military, Defense, and Aerospace,), and Geography - Global Forecast to 2025" , this market is expected to be worth USD 5.23 billion by 2025, at a CAGR of 41.5% between 2019 and 2025. The major factors driving the growth of the millimeter wave technology industry include the surge in mobile data traffic with bandwidth-intensive applications, use in the small-cell backhaul network, demand for innovative application of radar and security products, and potential use in consumer electronics.

Browse 67 market data Tables and 55 Figures spread through 179 Pages and in-depth TOC on "Millimeter Wave Technology Market by Product (Scanner Systems, Telecommunication Equipment), Frequency Band, License Type, Application (Automotive, Mobile & Telecom, Military, Defense, and Aerospace,), and Geography - Global Forecast to 2025"
View detailed Table of Content here -
https://www.marketsandmarkets.com/Market-Reports/millimeter-wave-technology-market-981.html

Telecommunication equipment expected to hold the largest market size by 2025

Millimeter wave technology-based telecommunication equipment held the largest market share in 2018. This is attributed to the surge in the number of mobile subscribers, resulting in the demand for efficient mobile backhaul solutions that can provide services to a large user base without degrading the connectivity and connection speed.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=981&utm_source=OpenPR

Market for mobile & telecom application to grow at the highest rate during the forecast period

The millimeter wave technology for the mobile & telecom application is estimated to grow at the highest CAGR during the forecast period. The research and developments, and testing of 5G technology are anticipated to be the key factor contributing toward the growth of the market for the mobile & telecom application over the next six years.

North America likely to hold the largest share of the millimeter wave technology market during the forecast period

North America is expected to hold the largest share of the millimeter wave technology market during the forecast period owing to the growing need for high-speed data transfer along with the overuse of the existing spectrum in the telecom sector. Further, the large-scale testing of autonomous and semi-autonomous vehicles is also expected to boost the demand for millimeter wave-based components. North America is also anticipated to witness considerable growth in the market for the military, defense, and aerospace applications with the increasing use of this technology in unmanned aerial vehicles (UAVs) and unmanned surface vessels (USVs).

Request Sample @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=981&utm_source=OpenPR

The report also profiles the most promising players in the millimeter wave technology market. The competitive landscape of the market presents an interesting picture of the strategies adopted by a large number of players. The key players in this industry are BridgeWave Communications (US), E-Band Communications, LLC (US), Siklu Communication Ltd (Israel), L3 Technologies, Inc. (US), NEC Corporation(Japan), Renaissance Electronics & Communications (HXi) (US), Smiths Group Plc. (UK), Vubiq Networks, Inc. (US), Proxim Wireless (US), ELVA-1 (Sweden), and Wireless Excellence Ltd. (CableFree) (UK).

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

This release was published on openPR.