8th November 2019 – Global Millimeter
Wave (MMW) Technology Market is anticipated to reach USD 8.69 billion
owing to the increasing need for high-speed data transfer along with the
overuse of the existing spectrum in industries like telecommunication and
security services. Millimeter waves are the electromagnetic waves with
wavelength from 1 to 10 millimeters that are used for high-speed wireless
broadband communications. They play an important role in communication, control
and guidance, radar, radio astronomy, clinical medicine, spectroscopy and
remote sensing technology. Millimeter wave frequency enables effective
undertaking of large capacity satellite-ground communication or ground relay
communication.
The end users of millimeter wave (MMW)
technology comprising from corporate data centers to iPhone users are demanding
innovative technologies to deliver the bandwidth higher than before. From among
several technologies available for delivering the bandwidth, fiber optic cable
is regarded as the major one. However, when economic factors are considered,
fiber optics is costly and its installation is complex.
Millimeter wave technology has the
potential to offer optimal bandwidth delivery as compared to fiber optics, but
without the installation and financial challenges of installing fiber.
Millimeter wave (MMW) technology is hence gaining greater traction as an alternative
to fiber optics medium. The major areas of application of millimeter wave (MMW)
technology are military & defense, security services, telecommunication,
and medical and health care.
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The growing government initiatives and
funding, research and development activities by the private and public sectors,
need for high-speed data transfer and the rising demand for bandwidth-intensive
applications are few driving factors of millimeter wave (MMW) technology
industry. Since these waves are transmitted through line-of-sight buildings
there are some factors that reduce its practical applications and make them
less efficient. The devices compatible with millimeter wave technology need
development since majority of devices are well-suited with microwaves, which
increases the overall cost of product.
These factors are expected to hinder the
growth of millimeter wave technology market in near future. Owing to the rising
need for higher bandwidth, the millimeter waves are expected to play an
important role in the progression of fifth-generation technology. The research
& development along with inspection of 5G technology are some definite key
factors that are projected to drive the market growth for mobile and telecom
functions in the years to come. Hence, several businesses are taking efforts to
upgrade their research & development activities to announce modernizations
in the segment.
Millimeter wave technology industry is
categorized on the basis of product, frequency band, license type, application,
and geography. On the basis of product, the market is divided into scanner
systems, radar and satellite communication systems, telecommunication
equipment, and others. Telecommunication equipment is estimated to hold larger
market owing to the increase in number of mobile subscribers demanding for
efficient mobile solutions with optimal connectivity and connection speed.
In terms of frequency band, millimeter
wave (MMW) technology market is classified into band between 30 GHz and 57 GHz,
band between 57 GHz and 86 GHz, and band between 86 GHz and 300 GHz. Based on
license type, the market is divided into Light licensed frequency, unlicensed
frequency, and fully licensed frequency.
On the basis of application, millimeter
wave (MMW) technology industry is divided into mobile & telecommunication,
consumer & commercial, healthcare, industrial, automotive and
transportation, military, defense, and aerospace, and imaging. Owing to the
research & developments, and testing of 5G technology, mobile and
telecommunication is predicted to hold larger share of the market.
Geographically, millimeter wave
technology market is segmented as North America, Asia Pacific, Europe, and RoW.
Due to increasing need for high-speed data transfer and overuse of the existing
spectrum in the telecom sector, North America is expected to dominate the
market in near future.
The prominent players in millimeter wave
technology industry include Proxim Wireless, E-Band Communications, LLC, L3
Technologies, Inc., LightPointe Communications, Inc., NEC Corporation,
BridgeWave Communications, Renaissance Electronics & Communications (HXi),
Smiths Group Plc., Vubiq Networks, Inc., QuinStar Technology Inc., ELVA-1,
Wireless Excellence Ltd., and Siklu Communication Ltd.
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