Millimeter Wave Technology Industry Sector 2025: Industrial Growth, Future Scope, Market Share, Investment

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.

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Latest M&A

✅ Verizon acquired Starry's millimeter-wave (mmWave) technology and urban network assets, incorporating approximately 100,000 Starry subscribers to expand cost-efficient broadband across key metropolitan U.S. markets. This deal supports Verizon's fixed wireless access (FWA) expansion goals.​

✅ Qorvo purchased Anokiwave for $31 million to secure advanced beamforming IP critical for mmWave 5G and sub-THz device applications.​

✅ Keysight Technologies committed $1.46 billion to acquire Spirent Communications' sub-THz test automation business, bolstering capabilities for mmWave and high-frequency semiconductor testing.

Key Players:

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.

Latest News

✅ The global mmWave technology market is projected to grow from $3.52 billion in 2025 to around $7.6 billion by 2029, with key drivers including 5G and autonomous vehicles.​

✅ NASA and FCC allocated new mmWave frequency bands (76-81 GHz), enabling further innovation in medical imaging and transportation sectors, including AI-based traffic management and self-driving vehicle sensors.​

✅ Samsung continues to lead with AI-powered mmWave chipset innovations, recently unveiling devices operating at 28 GHz frequency supporting gigabit speeds over several kilometers.

Growth Forecast Projection:

The Global Millimeter Wave Technology Market is anticipated to rise at a considerable rate during the forecast period, between 2025 and 2032. In 2024, 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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Key Segmentation:

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 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:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Millimeter Wave Technology producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Millimeter Wave Technology revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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Latest Product Launches

✅ Vention introduced its next-generation modular mmWave communication systems aimed at enhanced 5G connectivity and smart city infrastructure.​

✅ QuinStar Technology developed precision motorized programmable attenuators and high-power amplifiers optimized for spaceborne mmWave radar and communication systems.​

✅ Walkbase launched a millimeter wave sensor platform for retail and public spaces, capable of wide-area detection without significant hardware investment.

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