Millimeter Wave Technology Market is Forecast to Achieve USD 13.7 by 2031, Growing at a CAGR of 8.2% Over the Forecast Period | Keysight Technologies, Anritsu Corporation, Rohde & Schwarz GmbH & Co KG

Global Millimeter Wave Technology Market reached US$ 2.8 Billion in 2023 and is expected to reach US$ 13.7 Billion by 2031, growing with a CAGR of 8.2% during the forecast period 2024-2031.

The Millimeter Wave Technology market report provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. With a commitment to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Leveraging a combination of qualitative and quantitative research methods, the company offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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Millimeter wave (MMW) technology refers to electromagnetic waves with wavelengths ranging from 1 millimeter to 10 millimeters, corresponding to frequencies between 30 GHz and 300 GHz. This technology is used in various applications such as high-speed wireless communication, radar systems, and security scanners. Its ability to support large bandwidths allows for fast data transmission rates, making it especially relevant in 5G networks and next-generation communication technologies. However, its range can be limited by environmental factors like rain or obstacles.

Forecast Growth Projected:

The Global Millimeter Wave Technology Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

List of the Key Players in the Millimeter Wave Technology Market:

Keysight Technologies, Anritsu Corporation, Rohde & Schwarz GmbH & Co KG, NEC Corporation, L3Harris Technologies, Inc., Smiths Interconnect, Siklu Communication Ltd., E-Band Communications, LLC, Farran Technology Ltd. and SAGE Millimeter, Inc.

Industry Development:

On September 5, 2023, ZTE unveiled its next-generation ultra-high-bandwidth mmWave AAU, the world's first to support bandwidths of 1.2 GHz and above, with a maximum of 1.6 GHz. During a live demonstration, the NR-DC mode was utilized alongside AIS's 1.2 GHz millimeter-wave spectrum.

On August 28, 2023, Fujitsu announced the development of groundbreaking millimeter-wave chip technology for 5G radio units. This project, commissioned by Japan's New Energy and Industrial Technology Development Organization (NEDO), is part of the "Research and Development Project of the Enhanced Infrastructures for Post-5G Information and Communication Systems."

On August 8, 2023, Marki Microwave acquired a precision millimeter-wave business, enhancing its position in the emerging sub-THz and millimeter-wave (mmWave) industries. This acquisition enables Marki to combine traditional board-level connection techniques with waveguide technology to create innovative solutions.

Research Methodology

Our research methodology combines both qualitative and quantitative approaches to provide you with a thorough market analysis. We begin by gathering data from trusted industry reports and databases (secondary research), followed by primary research through surveys and interviews with key experts. We then apply advanced statistical tools to analyze the data, uncover trends, and assess market dynamics. Additionally, we use market segmentation and Porter's Five Forces analysis to evaluate competition. This approach ensures that the insights we provide are reliable, actionable, and tailored to support your decision-making process.

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Segment Covered in the Millimeter Wave Technology Market:

By Product: Scanner Systems, Radar and Satellite Communications Systems

By Frequency Band: 24 GHz to 57 GHz, 57 GHz to 86 GHz, 86 GHz to 300 GHz, Others

By License Type: Light Licensed Frequency Millimeter Wave, Unlicensed Frequency Millimeter Wave, Fully Licensed Frequency Millimeter Wave

By Components: Antennas and Transceiver Components, Frequency Sources and Related Components, Communication and Networking Components, Imaging Components, Sensors and Controls, Others

By Application: Mobile and Telecom, Consumer and Commercial, Healthcare, Industrial, Defense, Others

This Report Covers:

✔ Go-to-market Strategy.

✔ Neutral perspective on the market performance.

✔Development trends, competitive landscape analysis, supply side analysis, demand side analysis, year-on-year growth, competitive benchmarking, vendor identification, Market Access, and other significant analysis, as well as development status.

✔Customized regional/country reports as per request and country level analysis.

✔ Potential & niche segments and regions exhibiting promising growth covered.

✔ Analysis of Market Size (historical and forecast), Total Addressable Market (TAM), Serviceable Available Market (SAM), Serviceable Obtainable Market (SOM), Market Growth, Technological Trends, Market Share, Market Dynamics, Competitive Landscape and Major Players (Innovators, Start-ups, Laggard, and Pioneer).

Regional Analysis for Millimeter Wave Technology Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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Frequently asked questions:

➠ What is the global sales value, production value, consumption value, import and export of Millimeter Wave Technology market?

➠ Who are the global key manufacturers of the Millimeter Wave Technology Industry? How is their operating situation (capacity, production, sales, price, cost, gross, and revenue)?

➠ What are the Millimeter Wave Technology market opportunities and threats faced by the vendors in the global Millimeter Wave Technology Industry?

➠ Which application/end-user or product type may seek incremental growth prospects? What is the market share of each type and application?

➠ What focused approach and constraints are holding the Millimeter Wave Technology market?

➠ What are the different sales, marketing, and distribution channels in the global industry?

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