Millimeter Wave Equipment Market Size, Share, Trends, Growth and Forecast 2032

Millimeter Wave Equipment Market

Millimeter Wave Equipment Market by Product (Millimeter Scanners, Millimeter Radars, Satellite Communication) by Application (Defense, Aerospace, Automotive, Telecommunication and Consumer electronics), and By Region: Global Industry Perspective, Comprehensive Analysis and Forecast, 2024-2032

Category: Technology & Media Report Format : PDF Pages: 188 Report Code: ZMR-3234 Published Date: May-2024 Status : Published
Market Size in 2023 Market Forecast in 2032 CAGR (in %) Base Year
USD 3.68 Billion USD 73.88 Billion 39.68% 2023

Millimeter Wave Equipment Market

Millimeter Wave Equipment Market: Industry Perspective

The global Millimeter Wave Equipment Market size was worth around USD 3.68 Billion in 2023 and is predicted to grow to around USD 73.88 Billion by 2032 with a compound annual growth rate (CAGR) of roughly 39.68% between 2024 and 2032.

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Millimeter Wave Equipment Market Overview

Millimeter (MM) wave is the band of the spectrum which ranges from 30 GHz to 300 GHz (Millimeter Band), with a wavelength of range 1-10mm. MM waves find their use in high-speed wireless broadband communications, the International Communications Union (ITU) also refers to it as a Very High Frequency (VHF) or Extremely High Frequency (EHF). Millimeter wave technology is a type of electromagnetic wave technology which is recently being used across various applications in industries. It is used extensively in telecommunication industry as it can offer higher data rates of up to 10 Gbps for a number of services on mobile and wireless networks. Various components used in millimeter wave equipment are antennas, transceiver, interface components, imaging components, communication, and networking components.

The report covers forecast and analysis for the millimeter wave equipment Market on a global and regional level. The study includes drivers and restraints for the millimeter wave equipment market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the millimeter wave equipment market on a global level.

Millimeter Wave Equipment Market Growth Dynamics

Factors offered by MM waves such as higher bandwidth, low cost, high speed, advanced and suitable features are expected to drive the adoption of MM-wave equipment in the coming years. In the telecommunication sector, MM waves are considered as an alternative to fiber optics in terms of speed, performance, and low cost. With increasing numbers of broadband end-users as well as mobile data users, the market is anticipated to witness significant growth in the forecast period. The technological advancement which encourages adoption of MM wave technology is expected to be another factor which will drive this market. On the other hand, restraining factors for this market are its limited range and monopolies of product manufacturers in application fields. In addition, MM-wave band is affected by rain, snow, and fog which ultimately affect the quality of operations resulting in less adoption of this technology in some fields. Nonuniform licensing is also a major restraining factor for the growth of this market. Due to the high adoption rate of MM wave technology in different verticals such as aerospace, defense, radar, and telecommunication industries, there are tremendous growth opportunities in the global millimeter wave equipment market.

The increase in cellular and broadband speeds, rise in the use of millimeter-wave in small-cell backhaul networks, and substantial demand for the use of Millimeter Wave Equipment  in security and radar applications are the main factors driving the growth of the Millimeter Wave Equipment Market. The Global Millimeter Wave Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

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This report offers comprehensive coverage on the global millimeter wave equipment market along with, market trends, drivers, and restraints of the millimeter wave equipment market. This report included a detailed competitive scenario and the product portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s five forces model for the millimeter wave equipment market has also been included. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate, and general attractiveness. This report is prepared using data sourced from in-house databases, secondary and primary research team of industry experts.

Millimeter Wave Equipment Market: Report Scope

Report Attributes Report Details
Report Name Millimeter Wave Equipment Market Size Report
Market Size in 2023 USD 3.68 Billion
Market Forecast in 2032 USD 73.88 Billion
Growth Rate CAGR of 39.68%
Number of Pages 188
Forecast Units Value (USD Billion), and Volume (Units)
Key Companies Covered Fujitsu Network Communications Inc., E-Band communications, Siklu communications, sub10 systems, Agilent Technologies, Huawei technologies, and Bridgewave communications among others.
Segments Covered By Product, By Application, and By region
Base Year 2023
Historical Year 2018 to 2022
Forecast Year 2024 - 2032
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Global Millimeter Wave Equipment Market: Segmentation

The study provides a decisive view on the millimeter wave equipment market by segmenting the market based on product, application, frequency, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032. By product type, the market is divided into millimeter scanners, millimeter radars, and satellite communication. On the basis of frequency, it is segmented into 8GHz to 57GHz band frequency, 58GHz to 86GHz band frequency and 87GHz to 300GHz band frequency. Application wise the millimeter wave equipment market is segmented into telecommunication, defense, radar, consumer electronics, and aerospace.

The regional segmentation includes the current and forecast demand for North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

Some of the major players operating in the Millimeter Wave Equipment Market are:

The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global millimeter wave equipment market include-

  • Fujitsu Network Communications Inc.
  • E-Band communications
  • Siklu communications
  • sub10 systems
  • Agilent Technologies
  • Huawei technologies
  • Bridgewave communications among others.

The report segments global millimeter wave equipment market as follows:

Millimeter Wave Equipment Market: Product Type Segments

  • Satellite Communication
  • Telecommunication Equipment
  • Millimeter Scanners
  • Millimeter Radars

Millimeter Wave Equipment Market: Frequency Segments

  • 8 GHz to 57 GHz Band
  • 58 GHz to 86 GHz Band
  • 87 GHz to 300 GHz Band

Millimeter Wave Equipment Market: Application Segments

  • Telecommunication
  • Aerospace
  • Defense
  • Consumer Electronics

Millimeter Wave Equipment Market: Regional Segments

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

Table Of Content

Methodology

FrequentlyAsked Questions

The global Millimeter Wave Equipment Market size was worth around USD 3.68 Billion in 2023 and is predicted to grow to around USD 73.88 Billion by 2032 

compound annual growth rate (CAGR) of roughly 39.68% between 2024 and 2032.

The largest share of the Millimeter Wave Equipment Market is held by Asia Pacific. Developing countries of Asia Pacific such as China, Japan, and India will be dominating the market scenario mainly due to the rising constructional activities. The growth of Asia-Pacific region is expected to be followed by the Middle East and North America. Also, significant growth is expected from Western Europe owing to the developments taking place in this region especially in countries such as Italy, Germany, the U.K, France, and Spain. However, growth in Africa, Latin America, and Eastern Europe is anticipated to be moderate over the forecast period.

Fujitsu Network Communications Inc., E-Band communications, Siklu communications, sub10 systems, Agilent Technologies, Huawei technologies, and Bridgewave communications among others.

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