Seoul, South Korea, July 05, 2022 (GLOBE NEWSWIRE) -- The millimeter wave technology market is forecasted to reach a valuation of US$ 12.7 Billion by 2032 from US$ 2.2 Billion in 2022, rising rapidly at a CAGR of 19.3% throughout the forecast period. Increased broadband and mobile speeds, increased use of millimetre wave in small-cell backhaul networks, and significant demand for millimetre wave technology in security and radar applications are all driving millimeter wave technology market forward.
The adoption of millimeter wave technology is growing due to increased consumption of high-bandwidth content and application usage. Fiber-to-the-home (FTTH) adoption, cable broadband adoption, high-speed DSL adoption, and overall broadband penetration are all factors that influence the demand for millimeter wave technology.
For Critical Insights on Millimeter Wave Technology Market, Request a Sample Report
https://www.factmr.com/connectus/sample?flag=S&rep_id=7276
In addition, there is a growing demand for millimetre wave technology in the military, aerospace, and defence sectors due to the ease and speed with which information such as orders and commands can be exchanged while maintaining high connectivity and security through the use of various applications. These reasons are projected to drive the adoption of millimetre wave technology market to new heights.
This millimetre wave technology market is gaining traction in a variety of industrial and commercial industries, including smart wearables, smart phones, and smart watches, which require wireless connectivity.
Digital network advancements connect a large number of devices and sensors, allowing for advancements in healthcare, education, transportation, automotive, telecommunications, and other areas.
Autonomous millimetre wave technology is increasingly being used in hospitals for medical imaging. The demand for millimetre wave technology is projected to rise as it is used in the telecommunications industry to carry data over vast distances.
Furthermore, as the requirement for larger bandwidth grows, the demand for millimetre wave technology grows as it allows high data transfer at a high rate.
Consumer demand for connected gadgets such as smartphones, tablets, and other devices is propelling the adoption of millimetre wave technology. The demand for millimetre wave technology is growing as it has a number of advantages over fibre optics, including increased bandwidth, speed, and security.
Increased demand for imaging equipment, networks, monitors, and, most importantly, security is driving the adoption of multimeter wave technology in the healthcare and aerospace industries.
To learn more about Millimeter Wave Technology Market, you can get in touch with our Analyst at https://www.factmr.com/connectus/sample?flag=AE&rep_id=7276
Key Segments Covered in the Millimeter Wave Technology Industry Survey
- By Component :
- Antennas & Transceiver Components
- Frequency Sources and Relative Components
- Communication & Networking Components
- Imaging Components
- RF & Radio Components
- Sensors and Controls
- Interface Components
- Power & Battery Components
- Other Components
- Antennas & Transceiver Components
- By Product :
- Scanning Systems
- Radar and Satellite Communication Systems
- Telecommunication Equipment
- Others
- Scanning Systems
- By Frequency Band :
- 24 to 57 GHz
- 57 to 95 GHz
- 95 to 300 GHz
- 24 to 57 GHz
- By License Type :
- Light Licensed FMW
- Unlicensed FMW
- Fully Licensed FMW
- Light Licensed FMW
- By End Use :
- Mobile & Telecom
- Consumer & Commercial
- Healthcare
- Industrial
- Automotive and Transportation
- Imaging
- Mobile & Telecom
Competitive Landscape
The key players in millimetre wave technology market are Axxcss Wireless Solutions (US), NEC Corporation (Japan), Siklu Communication (Israel), L3HARRIS (US), Smiths Group (UK), Eravant (US), Aviat Networks (US), Farran Technologies (Ireland), and Millimeter Wave Products (US).
To increase their market position, these organizations have used both organic and inorganic growth tactics such as product launches and installations, contracts, mergers, collaborations, partnerships, and expansions.
Get Customization on Millimeter Wave Technology Market Report for Specific Research Solutions
https://www.factmr.com/connectus/sample?flag=RC&rep_id=7276
Key players in the Millimeter Wave Technology Market
- AXXCSS Wireless Solutions
- NEC Corporation
- Siklu Communication
- L3Harris
- Smiths Group PLC
- Eravant
- Aviat Networks
- Farran Technology
- Millimeter Wave Products Inc.
- Elva-1
Recent Developments
- Eravant released custom waveguide solutions in March 2020, including customised waveguide sections and flanges.
- Keysight and VIOMI, the pioneer of IoT@Home, announced a partnership in March 2020 to expedite 5G enabled IoT smart home deployment. The radio frequency (RF) performance of VIOMI's IoT devices for home applications was validated using Keysight's 5G solutions.
- NEC and Altiostar, the global leader in 5G-ready, open, virtualized RAN (vRAN) technologies, announced a partnership in January 2020 to accelerate the adoption of 4G/5G open vRAN solutions.
- NEC released a millimeter-wave distributed antenna radio unit in January 2020, allowing for more efficient utilisation of the 5G millimeter-wave spectrum (28 GHz band) and hence better channel quality for indoor 5G applications.
About the Technology Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned technology team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the technology industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
Explore Fact.MR's Coverage on the Technology Domain-
AI Virtual Visor Market- As per a new report published by Fact.MR, a market research and competitive intelligence provider, the number of vehicle displays is steadily increasing, and over the years, has increased almost 65% between 2016 and 2021. Fact.MR estimates that the automotive display market is likely to reach almost US$ 22 Billion by 2022.
Bicycle Subscription Market- As per industry analysis by Fact.MR, a market research and competitive intelligence provider, the global market for bicycles stood at US$ 58 Bn in 2020, wherein, around 140 Mn bicycles are produced annually across the globe. The market is set to reach a valuation of little over US$ 127 Bn by 2030, with a projected growth of above 8% CAGR.
Satellite Internet Market- As per a new report published by Fact.MR, a market research and competitive intelligence provider, the satellite internet market is anticipated to exceed a market valuation of US$ 6 Bn by 2031, and expand at an impressive CAGR of more than 8%. Fact.MR expects that, with the emergence of the new space race by big tech entrepreneurs, players will bring advanced and highly efficient satellite broadband to the market.
Physical Access Control System (PACS) Market- Physical access control system (PACS) market analysis shows that global demand enjoyed year-on-year (YoY) growth of over 10% in 2021, to total 2.2 Mn units. Demand for biometric PACS is poised to grow 9% to total 850 ‘000 units, while demand for card-based PACS will be up 12.5% to 960 ‘000 units in 2021.
High Power RF Amplifier Market- The global high power RF amplifier market enjoys a valuation of around US$ 4.6 Bn at present. Sales of high power RF amplifiers are slated to accelerate at a high CAGR of 12.3% to reach US$ 14.7 Bn by 2031. Demand for smart energy in end-use sectors is likely to increase at a CAGR of 10.2% over the assessment period of 2021 to 2031.
Airport Kiosk Market- The global airport kiosk market was valued at around US$ 1.7 Bn in 2020. Sales of airport kiosks are projected to accelerate at a healthy CAGR of 9% to top US$ 4 Bn by 2031. Airport kiosk sales account for 9% share of the overall interactive kiosk market. Demand for baggage check-in kiosks is set to surge at a robust CAGR of 11% across the assessment period of 2021 to 2031.
Public Safety Software Market- The global public safety software market reached a valuation of around US$ 7 Bn in 2020, and is slated to rise at a CAGR of 11% to top US$ 20 Bn by 2031. Demand for computer-aided dispatch solutions is set to increase at a CAGR of 9% across the assessment period of 2021 to 2031.
Big Data Analytics in Healthcare Market- The global big data analytics in healthcare market is estimated at US$ 39.7 billion in 2022. Data as a technology has been adopted by healthcare industry stakeholders rapidly and is being monetized, which is slated to push the global big data analytics in healthcare market to grow at CAGR of over 19%, and register total market value of US$ 194.7 billion by 2032- end.
Digital Door Lock System Market- The global digital door lock system market is likely to reach a valuation of around US$ 9 Bn in 2022. The sales of digital door lock system are slated to accelerate at a steady CAGR of 18% to top US$ 47 Bn by 2032.
SiC & GaN Power Semiconductor Market- The global SiC & GaN power semiconductor market is estimated at US$ 884 million in 2022. Demand of SiC & GaN power semiconductor devices is forecast to surpass the market value of US$ 6,954 million by 2032. Stupendous growth rate of 22.9% is projected for the demand of these electronic discrete components during the forecast period of 2022-2032.
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
Mahendra Singh
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
Email: sales@factmr.com
Tel: +1 (628) 251-1583
Follow Us: LinkedIn | Twitter
