The global telecom millimeter wave (MMW) technology market is estimated to reach USD 7.38 billion, by 2027, and is anticipated to grow at a CAGR of 37.01% over the forecast period, 2020 to 2027. Millimeter waves operate between frequency spectrum band 30 GHz to 300 GHz and has the capability to transmit large data. Millimeter waves are termed as extremely high-frequency waves (EHF) due to their operational frequency.
Millimeter-wave (MMW) technology is widely used across various applications such as security services, telecommunications, military, and healthcare sectors. Furthermore, rapid development in 5G technology infrastructure is anticipated to proliferate the need for MMW technology in the telecom industry.
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5G technology demands higher bandwidth, which can be provided through MMW technology. 5G technology is projected to disrupt the growth of the IT & telecom sector in the next few years. Thus, the demand for MMW technology is expected to increase over the forecast period.
Supportive government initiatives and R & D activities across the military sector are expected to support the growth of MMW technology. Additionally, the E-band segment has a high demand from the telecom industry. This segment is anticipated to account for the largest revenue from telecom applications.
Key manufacturers in the market are focusing on product innovations to maintain their position in the market.
Further key findings from the report suggest:
• North America contributed to the highest market share in the telecom MMW technology market, mainly due to the rising adoption of innovative technology.
• In 2019, the U.S. has generated the largest revenue in North America market.
• Depending on frequency band, E-band segment is estimated to grow at the fastest rate during the forecast period.
• In Asia Pacific growing telecom industry is projected to create ample growth opportunities for E-band frequency type segment.
• Online gaming, online streaming, and demand for high quality videos are expected to boost the growth of MMW technology market.
Impact of COVID-19
COVID-19 pandemic has negatively impacted the global telecom MMW technology market. Coronavirus has caused economic turmoil and expected to have its implications on development of new innovations such as millimeter wave technology (MMW).For example, several telecom companies have put their 5G technology plans, and trials plans on hold.
In France, there has been delay in the spectrum auction for 5G network development. Similarly, the auctions for 5G spectrum license across Austria, Portugal, Spain, and India have been postponed. However, long term market for MMW technology is expected to remain buoyant owing to its advantages such as lowest latency, high-speed data transfer.
Global Telecom MMW Technology Market: Key Players
Siklu communications ltd, Aviat Networks, LightPointe Communications, Sage Millimeter Inc., and Bridgewave Communications.
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