Global Millimeter Wave Technology Market Size Study by Product (Scanning System, Telecommunication Equipment, Radar & Satellite Communication System, Others), by License Type, by Component, by Frequency Band, by End Use, and Regional Forecasts 2022-2032

Description

The Global Millimeter Wave Technology Market is valued at approximately USD 6.33 billion in 2023 and is anticipated to witness a robust compound annual growth rate (CAGR) of 20.10% over the forecast period 2024-2032Millimeter wave technology is revolutionizing the communication and sensing landscapes, offering unmatched potential for ultra-high bandwidth and seamless connectivity. Leveraging the unique properties of electromagnetic waves within the millimeter range, this technology is carving a niche in applications ranging from telecommunications to security and automotive radar.

The rapid expansion of 5G networks is a key driver fueling the adoption of millimeter wave technology. With its ability to deliver unprecedented data speeds, reduced latency, and enhanced network efficiency, millimeter waves are at the forefront of next-generation communication systems. Additionally, the increasing deployment of advanced radar systems in automotive and aerospace sectors underscores the indispensable role of this technology. Enhanced scanning systems, satellite communications, and telecommunication equipment are also harnessing millimeter wave frequencies to ensure optimal performance and reliability.

Despite its promising growth trajectory, the millimeter wave technology market faces challenges such as high deployment costs and signal attenuation issues over longer distances. However, ongoing advancements in antenna designs and beamforming technologies are addressing these limitations, paving the way for widespread adoption across industries. Furthermore, governments and private stakeholders are heavily investing in research and development, strengthening the foundation for future innovations and market expansion.

Geographically, North America dominated the millimeter wave technology market in 2023, buoyed by a strong ecosystem of technology pioneers and substantial investments in telecommunications and defense infrastructure. Europe, with its robust regulatory frameworks and growing demand for advanced automotive radar systems, is another critical player. Meanwhile, the Asia-Pacific region is poised to witness the fastest growth, driven by the proliferation of 5G networks, rising industrial automation, and increasing adoption of connected devices.

Major market players included in this report are:

Qualcomm Technologies, Inc.
Keysight Technologies, Inc.
SAGE Millimeter, Inc.
Aviat Networks, Inc.
BridgeWave Communications, Inc.
Siklu Communication, Ltd.
NEC Corporation
Farran Technology Ltd.
LightPointe Communications, Inc.
L3Harris Technologies, Inc.
E-Band Communications, LLC
Millitech, Inc.
Smiths Group PLC
Anokiwave, Inc.
Vubiq Networks, Inc.

The detailed segments and sub-segments of the market are explained below:

By Product

Scanning System
Telecommunication Equipment
Radar & Satellite Communication System
Others

By License Type

Licensed
Unlicensed
Light Licensed

By Component

Antennas & Transceivers
Communication & Networking Components
Frequency Components & Related Services
Imaging Components
RF & Radio Components
Sensors & Controls

By Frequency Band

24 GHz to 57 GHz
57 GHz to 86 GHz
86 GHz and Above

By End Use

Telecommunication
Automotive & Transportation
Healthcare
Aerospace & Defense
Electronics & Semiconductor
Others

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia Pacific
China
India
Japan
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market estimates and forecasts for a 10-year period from 2022 to 2032.
Regional-level and annualized revenue analysis for each market segment.
Comprehensive analysis of the competitive landscape, including key strategies of major players.
Insights into demand-side and supply-side market dynamics.
Recommendations for key stakeholders based on in-depth market analysis.

Chapter 1. Global Millimeter Wave Technology Market Executive Summary

1.1. Global Millimeter Wave Technology Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Product
- 1.3.2. By License Type
- 1.3.3. By Component
- 1.3.4. By Frequency Band
- 1.3.5. By End Use
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Millimeter Wave Technology Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Millimeter Wave Technology Market Dynamics

3.1. Market Drivers
- 3.1.1. Rapid Expansion of 5G Networks
- 3.1.2. Increasing Deployment of Advanced Radar Systems
- 3.1.3. Growing Demand for High-Bandwidth Applications
3.2. Market Challenges
- 3.2.1. High Deployment Costs
- 3.2.2. Signal Attenuation Over Longer Distances
3.3. Market Opportunities
- 3.3.1. Advancements in Antenna Designs and Beamforming Technologies
- 3.3.2. Government and Private Sector Investments in R&D
- 3.3.3. Expansion into Emerging Markets and Industries

Chapter 4. Global Millimeter Wave Technology Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Millimeter Wave Technology Market Size & Forecasts by Product 2022-2032

5.1. Segment Dashboard
5.2. Global Millimeter Wave Technology Market: Product Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 5.2.1. Scanning System
- 5.2.2. Telecommunication Equipment
- 5.2.3. Radar & Satellite Communication System
- 5.2.4. Others

Chapter 6. Global Millimeter Wave Technology Market Size & Forecasts by License Type 2022-2032

6.1. Segment Dashboard
6.2. Global Millimeter Wave Technology Market: License Type Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 6.2.1. Licensed
- 6.2.2. Unlicensed
- 6.2.3. Light Licensed

Chapter 7. Global Millimeter Wave Technology Market Size & Forecasts by Component 2022-2032

7.1. Segment Dashboard
7.2. Global Millimeter Wave Technology Market: Component Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 7.2.1. Antennas & Transceivers
- 7.2.2. Communication & Networking Components
- 7.2.3. Frequency Components & Related Services
- 7.2.4. Imaging Components
- 7.2.5. RF & Radio Components
- 7.2.6. Sensors & Controls

Chapter 8. Global Millimeter Wave Technology Market Size & Forecasts by Frequency Band 2022-2032

8.1. Segment Dashboard
8.2. Global Millimeter Wave Technology Market: Frequency Band Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 8.2.1. 24 GHz to 57 GHz
- 8.2.2. 57 GHz to 86 GHz
- 8.2.3. 86 GHz and Above

Chapter 9. Global Millimeter Wave Technology Market Size & Forecasts by End Use 2022-2032

9.1. Segment Dashboard
9.2. Global Millimeter Wave Technology Market: End Use Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 9.2.1. Telecommunication
- 9.2.2. Automotive & Transportation
- 9.2.3. Healthcare
- 9.2.4. Aerospace & Defense
- 9.2.5. Electronics & Semiconductor
- 9.2.6. Others

Chapter 10. Global Millimeter Wave Technology Market Size & Forecasts by Region 2022-2032

10.1. North America Millimeter Wave Technology Market
- 10.1.1. U.S. Millimeter Wave Technology Market
  - 10.1.1.1. Product Breakdown Size & Forecasts, 2022-2032
  - 10.1.1.2. License Type Breakdown Size & Forecasts, 2022-2032
- 10.1.2. Canada Millimeter Wave Technology Market
10.2. Europe Millimeter Wave Technology Market
- 10.2.1. UK Millimeter Wave Technology Market
- 10.2.2. Germany Millimeter Wave Technology Market
- 10.2.3. France Millimeter Wave Technology Market
- 10.2.4. Spain Millimeter Wave Technology Market
- 10.2.5. Italy Millimeter Wave Technology Market
- 10.2.6. Rest of Europe Millimeter Wave Technology Market
10.3. Asia-Pacific Millimeter Wave Technology Market
- 10.3.1. China Millimeter Wave Technology Market
- 10.3.2. India Millimeter Wave Technology Market
- 10.3.3. Japan Millimeter Wave Technology Market
- 10.3.4. Australia Millimeter Wave Technology Market
- 10.3.5. South Korea Millimeter Wave Technology Market
- 10.3.6. Rest of Asia Pacific Millimeter Wave Technology Market
10.4. Latin America Millimeter Wave Technology Market
- 10.4.1. Brazil Millimeter Wave Technology Market
- 10.4.2. Mexico Millimeter Wave Technology Market
- 10.4.3. Rest of Latin America Millimeter Wave Technology Market
10.5. Middle East & Africa Millimeter Wave Technology Market
- 10.5.1. Saudi Arabia Millimeter Wave Technology Market
- 10.5.2. South Africa Millimeter Wave Technology Market
- 10.5.3. Rest of Middle East & Africa Millimeter Wave Technology Market

Chapter 11. Competitive Intelligence

11.1. Key Company SWOT Analysis
- 11.1.1. Qualcomm Technologies, Inc.
- 11.1.2. Keysight Technologies, Inc.
- 11.1.3. SAGE Millimeter, Inc.
11.2. Top Market Strategies
11.3. Company Profiles
- 11.3.1. Qualcomm Technologies, Inc.
  - 11.3.1.1. Key Information
  - 11.3.1.2. Overview
  - 11.3.1.3. Financial (Subject to Data Availability)
  - 11.3.1.4. Product Summary
  - 11.3.1.5. Market Strategies
- 11.3.2. Keysight Technologies, Inc.
- 11.3.3. SAGE Millimeter, Inc.
- 11.3.4. Aviat Networks, Inc.
- 11.3.5. BridgeWave Communications, Inc.
- 11.3.6. Siklu Communication, Ltd.
- 11.3.7. NEC Corporation
- 11.3.8. Farran Technology Ltd.
- 11.3.9. LightPointe Communications, Inc.
- 11.3.10. L3Harris Technologies, Inc.

Chapter 12. Research Process

12.1. Research Process
- 12.1.1. Data Mining
- 12.1.2. Analysis
- 12.1.3. Market Estimation
- 12.1.4. Validation
- 12.1.5. Publishing
12.2. Research Attributes