Market Research Report
Global Millimeter Wave Technology Market Analysis 2021-2031
|Global Millimeter Wave Technology Market Analysis 2021-2031|
Published: March 24, 2022
Content info: 318 Pages
Delivery time: 1-2 business days
The global millimeter wave technology market is anticipated to grow with a CAGR of 33.2% over the forecast period, i.e., 2022 - 2031. Factors such as the surge in the number of smart city projects worldwide, followed by the increasing adoption of internet of things (IoT), and the growing advancements in information and communication technology, are anticipated to drive the growth of the market during the forecast period. Furthermore, factors such as the growing adoption of 5G broadband cellular networks, along with the growing need for high-speed internet services, which is driving the need amongst the telecom operators to raise their existing technical capacity, are also expected to drive the growth of the market in the coming years. The market is estimated to garner a revenue of around USD 22580 Million by the end of 2031, up from a revenue of near to USD 1345 Million in the year 2021.
The global millimeter wave technology is segmented into numerous segments, which include segmentation by product, component, application, license type, installation, transmission frequency, end-user, and by region. By product, the market is segmented into radar & satellite communication system, telecommunication equipment, scanner system, and other products. By the end of 2031, out of all the other segments, the telecommunication equipment segment is anticipated to garner the largest revenue of more than USD 10770 Million, up from a revenue of about USD 500 Million in the year 2021.
On the basis of regional analysis, the global millimeter wave technology market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. By the end of 2031, the market in North America is anticipated to garner the largest revenue of close to USD 7900 Million by the end of 2031, up from a revenue of about USD 460 Million in the year 2021.
Some of the prominent industry leaders in the global millimeter wave technology market that are included in our report are: L3Harris Technologies, Inc., Eravant, E-Band Communications, LLC, Smiths Detection Group Ltd. (Smiths Group plc.), Keysight Technologies, Inc., NEC Corporation, Galion LLC, Millivision Technologies (Galion LLC), Vubiq Networks, Inc., Millimeter Wave Products Inc., Farran, Mistral Solutions Pvt. Ltd., Axxcss Wireless Solutions, Inc., Siklu Inc., Qualcomm Technologies, Inc., Huawei Technologies Co., Ltd., and others.