Millimeter Wave, Technology Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Frequency Band, By Component, By End User, By Region & Competition, 2021-2031F

The Global Millimeter Wave (MMW) Technology Market is projected to expand from USD 4.49 Billion in 2025 to USD 14.22 Billion by 2031, registering a CAGR of 21.18%. Leveraging the electromagnetic spectrum band between 30 GHz and 300 GHz, this technology facilitates ultra-high-speed wireless communications and high-resolution sensing capabilities. Market growth is primarily propelled by the escalating global demand for substantial bandwidth to handle data-intensive applications, alongside the fundamental requirement for low latency in sectors such as industrial automation and autonomous transportation. These structural necessities provide a solid foundation for long-term expansion, distinguishing the market's trajectory from temporary consumer adoption trends or transient shifts.

However, widespread implementation faces a major hurdle regarding signal attenuation, as high-frequency waves are easily obstructed by physical barriers and environmental factors. This propagation limitation demands the costly deployment of dense network infrastructure to guarantee reliable service coverage. According to the Global mobile Suppliers Association, 203 operators across 56 countries and territories were investing in 5G mmWave network deployments in 2025. This significant level of commercial commitment highlights the industry's focus on surmounting physical infrastructure challenges to fully unlock the potential of the spectrum.

Market Driver

The rapid rollout of 5G and 6G network infrastructure acts as the primary catalyst for the millimeter wave market, driven by the critical need for high-band spectrum to alleviate capacity bottlenecks in dense urban settings. Telecom operators are aggressively exploiting these frequencies to support Fixed Wireless Access (FWA), delivering fiber-like broadband speeds without the need for physical cabling. According to the June 2024 'Ericsson Mobility Report' by Ericsson, FWA connections are anticipated to grow significantly, reaching 330 million by the end of 2029. This surge necessitates the deployment of millimeter wave equipment to manage the massive data throughput required by modern enterprises and households, while the GSMA projects that 5G technologies will benefit the global economy by over $930 billion in 2030, underscoring the financial viability of these high-frequency investments.

A second major driver is the increasing integration of technology within automotive radar and ADAS, necessitating the use of 77 GHz and 79 GHz bands for high-resolution object detection and situational awareness. As vehicles advance toward higher levels of autonomy, the demand for sensors that operate reliably in adverse weather-where optical cameras may fail-has intensified. This technical requirement is reinforced by strict regulatory mandates; for instance, the National Highway Traffic Safety Administration issued a final rule in April 2024 under 'Federal Motor Vehicle Safety Standard No. 127,' requiring automatic emergency braking systems on all new passenger vehicles by September 2029. Such regulatory compulsion ensures sustained demand for millimeter wave radar modules, establishing the technology as a standard industrial requirement across the global automotive sector.

Market Challenge

The widespread adoption of Millimeter Wave (MMW) technology is significantly restricted by the inherent physical properties of the high-frequency spectrum, particularly its susceptibility to signal attenuation. Unlike lower-frequency bands, MMW signals struggle to penetrate solid obstacles such as walls, foliage, and glass, and are easily absorbed by atmospheric conditions like rain or humidity. This propagation limitation forces network operators to drastically densify their infrastructure, requiring the installation of a vast number of small cell base stations to maintain continuous connectivity. The resulting capital expenditure and logistical complexity create a substantial barrier to market expansion, as service providers must balance high deployment costs against potential returns on investment, often limiting rollouts to small, high-density urban pockets rather than broad national coverage.

These economic and technical frictions directly slow the adoption rate of MMW hardware compared to Sub-6 GHz solutions, which offer wider coverage with less infrastructure. The market preference for more cost-efficient, lower-frequency alternatives is evident in equipment shipment volumes. According to the Global mobile Suppliers Association (GSA), shipments of 5G Fixed Wireless Access (FWA) devices with millimeter-wave capability were forecast to remain under 10% of all 5G FWA shipments in 2024. This disparity underscores how the challenge of signal propagation and the associated infrastructure costs continue to hamper the technology's ability to achieve mass-market dominance, confining it to niche applications despite its superior bandwidth capabilities.

Market Trends

The increasing utilization of E-Band and V-Band frequencies for wireless backhaul is reshaping network infrastructure as operators seek to support the massive throughput of 5G without relying exclusively on fiber deployments. This trend involves the migration from traditional microwave bands to the 70 GHz and 80 GHz spectrum, which offers significantly wider channel bandwidths capable of delivering fiber-like speeds over short distances. This shift is particularly vital for urban densification where physical cabling is logistically difficult or cost-prohibitive. According to Ericsson's 'Microwave Outlook 2023' report from October 2023, it is projected that microwave technology will continue to handle 50% of global mobile backhaul connections by 2030, with E-band frequencies playing a central role in meeting the capacity demands of 5G Advanced networks.

Concurrently, the automotive sector is undergoing a definitive transition from conventional radar to 4D imaging radar, driven by the technical requirements of Level 3 and Level 4 autonomous driving systems. Unlike standard radar which detects speed and azimuth, 4D imaging sensors utilize Massive MIMO technology to provide vertical elevation data, creating high-resolution point clouds that can distinguish stationary objects such as bridges from stopped vehicles. This capability addresses a critical safety gap in current ADAS implementations and reduces reliance on optical sensors during poor visibility. According to a January 2024 corporate press release from Arbe Robotics, the company confirmed that its Tier 1 partner HiRain Technologies would begin mass production of these advanced 4D imaging radar systems by the end of 2024, marking a significant step toward their widespread commercial integration.

Key Market Players

• Qualcomm Incorporated
• Keysight Technologies, Inc
• Ceragon Networks Ltd
• L3Harris Technologies, Inc
• NEC Corporation.
• AVIAT NETWORKS, Inc.
• Smiths Group plc.
• Vubiq Networks, Inc.
• REMEC Broadband Wireless Networks LLC.
• Ducommun Incorporated

Report Scope

In this report, the Global Millimeter Wave (MMW) Technology Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Millimeter Wave (MMW) Technology Market, By Frequency Band

• Below 30 GHz
• 30 GHz to 100 GHz
• 100 GHz to 300 GHz
• Above 300 GHz

Millimeter Wave (MMW) Technology Market, By Component

• Antennas
• Transceivers
• Amplifiers
• Oscillators
• Frequency Sources
• Other

Millimeter Wave (MMW) Technology Market, By End User

• Telecommunications
• Aerospace & Defense
• Automotive
• Healthcare
• Consumer Electronics
• Industrial
• Security & Surveillance

Millimeter Wave (MMW) Technology Market, By Region

• North America
  • United States
  • Canada
  • Mexico
• Europe
  • France
  • United Kingdom
  • Italy
  • Germany
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
• South America
  • Brazil
  • Argentina
  • Colombia
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Millimeter Wave (MMW) Technology Market.

Available Customizations:

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Company Information

• Detailed analysis and profiling of additional market players (up to five).