Dublin, April 20, 2023 (GLOBE NEWSWIRE) -- The "Millimeter Wave Technology Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.
The millimeter wave technology market is expected to register a CAGR of 34.56% over the forecast period.
Key Highlights
Millimeter wave technology accommodates a massive increase in data demands from connected homes, augmented reality/virtual reality (AR/VR) devices, cloud gaming systems, self-driving vehicles, IoT sensors, and other cloud-connected devices.
The possibility of such high-speed communication was demonstrated in 2016 with the then-latest 802.11ad Wi-Fi standard, which operated at 60 GHz. It is currently being considered by standard-setting organizations, like the Federal Communications Commission (FCC) and others, as the way to bring "5G" into the mass market by allocating more bandwidth to deliver faster, higher-quality video and multimedia content and services. With the current market scenario changed, owing to the development and evolution of new technologies, the millimeter wave is on the brink of being an integral part of the next-generation network.
According to Ericsson, 5G subscriptions are expected to surge globally between 2019 and 2027, rising from over 12 million to over 4 billion. Subscriptions are predicted to be highest in South East Asia, North East Asia, India, Nepal, and Bhutan.
Millimeter-wave, also known as very high frequency (VHF) or extremely high frequency (EHF) by the International Telecommunications Union (ITU), is extensively preferred for high-speed wireless broadband communications.Many countries are not waiting for 5G regulations and specifications to be finalized at the WRC-19; they are already taking steps toward commercial 5G New Radio (NR), with a particular focus on the spectrum range 26.5 to 29.5GHz (the 28GHz band).
The initial adoption of millimeter wave is expected to be more in North America and the European region, as the standards are more defined. Multiple types of research are happening in this market domain. Across Asia, Singapore, Japan, Taiwan, and South Korea are expected to adopt mmWave 5G in the near term. In contrast, European counterparts such as Denmark, Malta, and France have already adopted the technology.
Several telecom providers announced the continuing and addition of 5G deployment projects amid the worldwide COVID-19 outbreak. For example, Baicells, a leading supplier of turnkey long-term evolution (LTE) and 5G solutions for carriers, companies, and communities, and Helium Deploy, a supplier of Helium 5G Solution packages, announced a collaboration in October 2022 to offer the Helium Network possibility to the international community. Helium Deploy will spend USD 9.5 million on Baicells Nova430H DeWi radios as part of the cooperation to address worldwide demand.
Millimeter Wave Technology Market Trends
Antennas & Transceiver Hold Significant Market Share
The millimeter waves operate at very high frequencies and tend to cover a range of 1mm to 10mm; hence, they do not travel far. With shorter wavelengths, the 71-76 GHz, 81-86 GHz, and 92-95 GHz (70/80/90 GHz) bands are permitted to use smaller antennas, compared to similar circumstances for the lower bands. This also gives directivity and high gain.
With these antennas susceptible to easy blockage, usage of boosters and multiple mm-based antennas has been among the potential solution. Additionally, market players are developing antennas for millimeter wave to gain a competitive edge.
For example, AGC Inc. (AGC), a world-leading manufacturer of glass, chemicals, and high-tech materials developed a transparent antenna for fixed wireless access - customer premises equipment (FWA-CPE) that can be installed on indoor window glass for the improvement of indoor communication areas in the 5G millimeter wave (28GHz) band. AGC will continue optimizing performance and confirming reliability, aiming to commercialize the antenna in 2024.
Pharrowtech, a leader in designing and developing millimeter wave (mmWave) hardware and software for next-generation wireless applications, raised USD 18.40 million Series A funding round to continue developing next-generation 60 GHz wireless RF transceivers and antenna technology. The funding will enable Pharrowtech to accelerate the deployment of its recently launched 60 GHz CMOS radio-frequency integrated circuit (RFIC) PTR1060 and phased array antenna radio-frequency module (RFM) PTM1060 for 5G unlicensed fixed wireless access, wireless infrastructure, and consumer applications. The capital raised will also be used to ensure best-in-class customer support, expand Pharrowtech's operations in the United States, and grow its engineering and business teams to drive the product roadmap and fuel further growth.
Millimeter wave technology has profoundly impacted the radar sensors' evolution and offered significant capabilities and efficiency improvements. The automobile industry is expected to benefit from this development. The increasing automatic emergency braking (AEB) applications in the 77 GHz radar market indicate the opportunities held in the market. In collaboration with end-users of the market, innovation is expected to lead to the adoption of advanced products, to reduce the development to the market time of these millimeter wave antennas.
Due to the widespread implementation of the devices in industries such as security and telecommunications, the segment will likely continue its dominance during the projection. Both the telecommunications and defense industries are growing globally, and demand from both industries is expected to rise dramatically in the future.
North America is Expected to Hold Major Market Share
In the North American region, the telecom services providers, such as AT&T and Verizon, have been tapping into the millimeter wave frequencies to roll out commercial 5G services. The adoption needs the impetus from the standard-setting organizations to support further development of 5G. The US Federal Communications Commission (USFCC) has been directing the same by spectrum launch as it gains momentum, and innovation is further witnessed across 5G and cellular antennas.
Mobile operators have started to focus on active antennas and millimeter wave. At the same time, multiple startups in the region are expected to grow, with Airways, Lightpointe, and Fractal Antennas being such instances. Vendor-related activity is likely to spur across millimeter wave 5G networks in terms of intellectual property.
Businesses in the region are pursuing a variety of techniques to achieve a competitive advantage. For example, Keysight Technologies, Inc., a leading technology company that delivers advanced design and validation solutions to help accelerate innovation to connect and secure the world, signed a three-party agreement with NTT DOCOMO, Inc., and NTT to advance the development of key technologies expected to drive the innovation necessary for 6G. With 5G deployment underway, research on enabling technologies for 6G - the next generation of wireless communications - is gaining momentum.
Verana Networks, a developer of innovative 5G radio-access networks (RAN) solutions for mmWave spectrum, announced it would conduct field trials of its ground-breaking 5G mmWave integrated access and backhaul (IAB) solution with Verizon. Verana's mmWave 5G small cells can provide wireless backhaul to other Verana 5G small cells while providing 5G access to smartphones and fixed wireless access (FWA) devices. Verana's scalable, multi-hop IAB solution reduces the number of fiber backhaul links required to build a mmWave 5G network by more than 90% - reducing CapEx and OpEx, while increasing flexibility in site selection and the speed of network rollout.
The adoption of augmented reality (AR), virtual reality (VR), and high definition (HD) resolutions has led to colossal-sized content generation and is expected to motivate further the service providers and the stakeholders in the market to upgrade their communication infrastructure. Additionally, investments in the self-driving car market, the automobile industry for connected cars' future, and industry 4.0 are expected to drive millimeter wave technology in the supporting infrastructure across North America.
Millimeter Wave Technology Industry Overview
The millimeter wave technology market is competitive. With the proliferation of 5G, the market is expected to expand and attract more significant players, including Siklu Communication, Ltd, E-band communications LLC (Axxcss Wireless Solutions, Inc.), Millimeter Wave Products Inc., Ducommun Incorporated, and NEC Corporation, among others. The landscape is expected to experience several collaborations in the near future among telecom service providers and companies producing millimeter wave products. Some of the key developments in the market are mentioned below.
In May 2022, Singtel was appointed by Micron Technology to deploy its 5G millimeter wave solutions with localized edge core at the semiconductor manufacturer's 3D NAND flash memory fabrication plant in Singapore. Micron is the first company in Singapore to pilot 5G by deploying a millimeter wave campus solution with edge core on-premises for industry 4.0 manufacturing applications.
The customized solutions will be deployed at Micron's cleanroom to support the development of a variety of digitally enabled and enhanced applications - from automated visual inspections of individual chips to augmented reality (AR) for operations and maintenance.
Moreover, in August 2022, HFCL Limited entered into an agreement with Qualcomm Technologies, Inc. for HFCL's design and development of 5G millimeter wave fixed wireless access (FPA) customer premise equipment (CPE) products. In continuation with its 5G product strategy, HFCL is expanding its 5G product portfolio by launching product development of 5G mmWave FWA CPE products for India and global markets.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHT
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Proliferation of Wireless Backhaul of Base Stations
5.1.2 Evolution of 5G is Expected to Drive the Market
5.2 Market Restraints
5.2.1 Need for Manufacturing of Compatible Components and Rising Cost of Components
5.2.2 Technological Vulnerabilities Leading To Reduced Wave Strength
6 MARKET SEGMENTATION
7 COMPETITIVE INTELLIGENCE
8 INVESTMENT ANALYSIS
9 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/ifmw36
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