Millimeter Wave Technology Market Growth: Fueling 5G, Automotive, and IoT Applications | Most Leading Companies - Keysight Technologies, Anritsu Corporation, Rohde & Schwarz GmbH & Co KG, NEC Corporation

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.

Millimeter Wave Technology Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it 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 Technology refers to electromagnetic waves in the frequency range of 30 GHz to 300 GHz, characterized by their short wavelengths, typically between 1 and 10 millimeters. This technology plays a crucial role in high-speed communication systems, such as 5G networks, satellite communications, radar systems, and high-definition video streaming. Millimeter waves can carry large amounts of data over short distances and are essential for enabling the ultra-fast speeds and low-latency requirements of next-generation wireless technologies.

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 1.2 GHz bandwidth and above, with a maximum bandwidth of 1.6 GHz. During a live demonstration, the NR-DC mode was used in conjunction with AIS's 1.2 GHz millimeter-wave spectrum.

On August 28, 2023, Fujitsu introduced groundbreaking millimeter-wave chip technology for 5G radio units. This development was commissioned by Japan's New Energy and Industrial Technology Development Organisation (NEDO) as 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, strengthening its position in the emerging sub-THz and millimeter-wave industries. This acquisition will allow the company to create unique solutions by integrating traditional board-level connection techniques with waveguide technology.

Growth Forecast 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.

Research Process:

Both primary and secondary data sources have been used in the global Millimeter Wave Technology Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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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

Regional Analysis for Millimeter Wave Technology Market:

The regional analysis of the Millimeter Wave Technology Market covers key regions including North America, Europe, Asia Pacific Middle East and Africa and South America. The North America with a focus on the U.S., Canada, and Mexico; Europe, highlighting major countries like the U.K., Germany, France, and Italy, along with other nations in the region; Asia-Pacific, covering India, China, Japan, South Korea, and Australia, among others; South America, with emphasis on Colombia, Brazil, and Argentina; and the Middle East & Africa, which includes Saudi Arabia, the U.A.E., South Africa, and other countries. This comprehensive regional breakdown helps identify unique market trends and growth opportunities specific to each area.

⇥ 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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People Also Ask:

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

➠ Who are the leading manufacturers in the global Millimeter Wave Technology industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?

➠ What opportunities and challenges do vendors in the global Millimeter Wave Technology industry face?

➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?

➠ What are the key factors and limitations affecting the growth of the Millimeter Wave Technology market?

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

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