The
global millimeter wave (MMW) technology market is estimated to reach USD 8.69
billion by 2025, according to the new report by Grand View Research, Inc.
Millimeter waves are radio frequencies operating in the electromagnetic
spectrum of 30 GHz to 300GHz, also known as Extremely High-Frequency (EHF)
range. As the millimeter waves are capable of transmitting large amounts of
data with greater efficiency, they hold a major application across the
telecommunication industry.
Currently,
fiber-optic cables are one of the best transmission mediums being used,
extensively, for data transmission. However, the fiber optics technology is
extremely costly and the network is highly tedious to install, posing the
millimeter wave technology as an appealing alternative for the fiber-optics
medium.
The
millimeter waves technology market is highly consolidated, in terms of
applications and components, where it is extensively used. The major
application areas of the technology include telecommunication, military &
defense, medical, and security services. The advancements in the telecom
industry are leading to the evolution of next-generation technologies such as
5G.
Owing
to the demand for higher bandwidths in the fifth-generation technology,
millimeter waves are expected to play a prominent role in the development of 5G
technology. As the market is experiencing a shift toward the adoption of
fifth-generation technology, the millimeter wave technology market is thus
anticipated to grow, significantly, during the forecast period.
Moving
further, the increasing focus of the governments and international security
authorities toward curbing down the global threats, looming due to the
increasing terrorist activities, such as plane hijacking and bomb-blasts, is
leading to the adoption of enhanced security measures. These measures
prominently include the adoption of millimeter wave scanners across
international airports and other crowded places in the urban areas.
The
increasing demand of MMW scanners for security purposes is expected to boost
the MMW technology market. The emerging markets of the Asia Pacific and South
America & MEA regions are the expected to be the potential markets capable
of offering strong growth opportunities for the technology, owing to the
increasing awareness of security measures.
Intensive
R&D activities and investments from the private and publics sectors,
coupled with government funding & initiatives, are paving way for improved
technologies. Additionally, the increasing use of MMW in the telecom sector and
small cell backhaul applications are projected to be the key driving factors
responsible for the overall industry growth.
North
America contributed for the majority of the market share of more than 45.0% in
2015. The massive market share across the region can be accredited to the
extensive adoption of the MMW technology in several sectors. However, the Asia
Pacific region is expected to exhibit the remarkable growth over the estimated
duration.
The
millimeter waves are prone to environmental conditions such as rainfall,
humidity, and fog, as their propagation characteristics are hampered by these
conditions.
Besides, range limitations and line-of-sight communication are few
other factors that may hinder the applications of the technology. However, the
obstructions hindering the growth of the market are expected to overcome with
time, lowering their impact, owing to the intense R&D being carried out by
the researchers and the key players in the MMW technology area.
In depth research report on Millimeter Wave (MMW)
Technology Market
Further key findings from the report suggest:
·
The millimeter wave technology
is gaining attraction, owing to its ability to transmit large amounts of data
with greater efficiency
·
Furthermore, the increasing use
of MMW technology in small-cell backhaul applications and the upcoming 5G
technology are expected to drive the market, worldwide
·
The radar & satellite
communication systems segment is projected to dominate the market with the
fastest growing CAGR of beyond 42.0% during the forecast period
·
As the fiber-optics technology
is a costly medium for data transmission, millimeter waves are gaining
traction, owing to their lower cost and equally efficient technology
·
The E-band frequency segment is
poised to witness the highest growth rate, owing to its extensive applications
in telecommunication equipment and products
·
The Asia Pacific market is
anticipated to undergo a considerable shift on account of the increasing
telecommunication and military & defense applications in countries such as
China, and Japan.
·
The prominent players in the
millimeter wave industry include Siklu Communication Ltd., Sage Millimeter,
Inc., Keysight Technologies, Inc., and Bridgewave Communications, Inc.
Grand
View Research has segmented the MMW Technology market based on product,
component, application, frequency band, and region:
MMW Technology Product Outlook (Revenue, USD
Million; 2014 - 2025)
·
Telecommunication Equipment
·
Imaging & Scanning Systems
·
Radar & Satellite
Communication Systems
MMW Technology Component Outlook (Revenue, USD
Million; 2014 - 2025)
·
Antennas & Transceivers
·
Amplifiers
·
Oscillators
·
Control Devices
·
Frequency Converters
·
Passive Components
·
Others
MMW Technology Application Outlook (Revenue, USD
Million; 2014 - 2025)
·
Telecommunications
·
Military & Defense
·
Automotive & Transport
·
Healthcare
·
Electronics & Semiconductor
·
Security
MMW Technology Frequency Band Outlook (Revenue, USD
Million; 2014 - 2025)
·
V-Band
·
E-Band
·
Other Frequency Bands
MMW Technology Regional Outlook (Revenue, USD
Million; 2014 - 2025)
·
North America
·
U.S.
·
Canada
·
Mexico
·
Europe
·
UK
·
Germany
·
Asia Pacific
·
China
·
Japan
·
South America and The Middle
East & Africa (MEA)
Browse more research reports of this category:
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
No comments:
Post a Comment