Millimeter Wave Technology Market by System, Product, Frequency Band, License Type, Component, Application

Description

List of Tables

[195 Pages Report] The Millimeter Wave Technology Market size was estimated at USD 3.82 billion in 2023 and expected to reach USD 4.49 billion in 2024, at a CAGR 18.67% to reach USD 12.67 billion by 2030.

Millimeter wave technology (mmWave) represents a class of wireless communication that operates in the extremely high-frequency range of the electromagnetic spectrum, specifically between 30 and 300 gigahertz (GHz). Millimeter wave technology is gaining significant traction for its potential to revolutionize various industries, including telecommunications, imaging, healthcare, automotive, and defense. The global push towards 5G deployment acts as a significant driver for this market's expansion. Rising demand for ADAS features in automobiles propels the adoption of millimeter wave radar systems. Government emphasis on enhancing security measures also contributes to increased demand for millimeter wave based security solutions. However, high attenuation rates due to adverse weather conditions and short-range capabilities of millimeter waves limit their widespread adoption. Market players are working on advancements in antenna design and materials science to improve signal propagation characteristics while minimizing energy loss. They are also developing new modulation schemes and channel coding techniques that can help optimize data transmission efficiency.

KEY MARKET STATISTICS
Base Year [2023]	USD 3.82 billion
Estimated Year [2024]	USD 4.49 billion
Forecast Year [2030]	USD 12.67 billion
CAGR (%)	18.67%

System: Research & development in advancing telecommunication systems for 5G networks

Millimeter wave technology in radar and satellite communication systems has been rapidly advancing due to its high-frequency range, which offers improved resolution, large bandwidth, and low interference. These qualities make mmWave technology ideal for applications such as weather monitoring, defense surveillance, and satellite imaging. Millimeter wave technology has transformed scanning systems by providing non-invasive security solutions with superior image quality. These systems are now widely used at airports and other public venues to ensure passenger safety without invasiveness or radiation risk associated with traditional X-ray machines. The emergence of 5G networks has significantly increased the need for millimeter wave technology in telecommunication equipment due to its ability to transmit large amounts of data at faster speeds while minimizing latency issues. The radar & satellite communication systems segment has witnessed substantial investments from defense organizations, while scanning systems have experienced increased demand for non-invasive security solutions in public settings.

Component: Advancements in antennas and sensor technologies based on mmWave for improved communication and networking

High-speed wireless communications and efficient radar systems have propelled the demand for antennas and transceivers in mmWave technology. High-frequency signal generation is crucial for millimeter wave technologies to achieve spectral efficiency and precise modulation schemes. Interface components are essential for the seamless integration of millimeter wave technology with other systems and devices. Efficient power management is vital for the performance of wireless communication systems and devices utilizing millimeter wave technology. The rapid expansion of wireless communication networks requires advanced radio frequency (RF) components that can handle high-frequency signals at lower power consumption levels. Innovative RF solutions have been instrumental in driving the adoption of millimeter wave technologies across various industries. Millimeter wave sensors are gaining traction in applications such as collision avoidance systems in automobiles and industrial automation due to their ability to detect objects with high accuracy, even in adverse conditions.

Frequency Band: Increasing use of less than 57 GHz frequency band due to their large bandwidths and relatively lower path loss

The less than 57 GHz frequency band is widely used in commercial applications due to its comparatively lower propagation losses and higher penetration capabilities. This segment is ideal for high-speed wireless communication systems such as gigabit wireless access (GWA) networks and fixed wireless access services. On the other hand, the 57-95 GHz frequency band offers higher bandwidths and enables more advanced features, such as high-resolution imaging for military applications and security screening devices at airports. The highest frequency range of millimeter wave technology, spanning from 95 to 300 GHz, is primarily utilized in research and experimental applications. They offer ultra-high-speed data transmission rates and extremely high-resolution sensing capabilities for specialized needs.

Product: Significant application of antennas and transceivers in millimeter wave technology, enabling communication and data transfer

Antennas and transceivers play a vital role in enabling high-speed data transmission over millimeter waves. These components are essential for applications such as 5G networks and satellite communication systems due to their ability to support higher frequency bands. The communication and networking segment is driven by the increasing demand for high-speed data connectivity using millimeter wave technology. This product segment comprises oscillators and synthesizers that generate stable frequencies required for various applications such as radar systems and wireless communications devices using millimeter wave technology. Frequency sources and related products include oscillators and synthesizers that generate stable frequencies required for various applications such as radar systems and wireless communications devices using millimeter wave technology. Millimeter wave technology enables high-resolution imaging systems like security scanners, autonomous vehicle sensors, and medical diagnostic equipment. The interface segment pertains to various devices and components that facilitate seamless connectivity between different millimeter wave systems. These include connectors, cables, and adapters that ensure efficient signal transfer across diverse platforms. High power efficiency ensures reliable operation and extended battery life in millimeter wave devices, including smartphones, IoT sensors, and wireless communication networks. Radiofrequency (RF) components such as amplifiers, filters, switches, and modulators enable effective transmission and reception of signals using millimeter wave technology. Sensors and controls using millimeter wave technology offer increased accuracy and responsiveness for collision avoidance systems, industrial automation, and environmental monitoring applications.

License Type: Growing adoption of fully licensed frequency millimeter wave (FLF-MMW) for highly secure and stable connections with minimal risk of interference

Fully licensed frequency millimeter wave (FLF-MMW) operates within a regulated frequency spectrum, ensuring minimal interference and optimal performance. This technology is ideal for industries requiring high data rates, low latency, and reliable communication, such as telecommunications, defense, transportation, and healthcare. Unlicensed Frequency Millimeter Wave (UFLF-MMW) utilizes an unregulated frequency spectrum without the need for licensing or regulatory compliance. Although this makes it more accessible to small businesses and residential applications requiring high-speed connectivity, UFLF-MMW is prone to interference from other devices in the same frequency range. While FLF-MMW is preferred by organizations needing highly secure and stable connections with minimal interference risk due to dedicated frequency spectrums, UFLF-MMW offers a more accessible solution without licensing or regulatory compliance concerns but may face potential interference issues.

Application: Vital utility of mmWave technology in military applications for missile guidance systems & drone surveillance

Millimeter wave technology has emerged as a critical component in automotive applications as it enables radar-based sensors to provide precise distance measurements, object detection, and collision avoidance. The consumer application segment includes smartphones, tablets, wearables, and home automation systems that incorporate mmWave technology for high-speed data transfer and wireless connectivity. It also plays a crucial role in various industrial applications such as robotics, automation systems, security scanners, and material sensing equipment due to its ability to penetrate materials and deliver high-resolution imaging. In the medical field, mmWave is employed for imaging applications such as skin cancer detection or wound assessment due to its non-ionizing nature compared to X-rays or CT scans while providing higher resolution images than conventional ultrasound methods. mmWave technology is increasingly adopted in the defense sector for applications such as radar systems, satellite communication, missile guidance, and drone surveillance due to its ability to provide high-resolution data and operate under various weather conditions. As data usage continues to grow exponentially worldwide, telecom operators are adopting millimeter wave technology for high-speed wireless communication infrastructure such as 5G networks and Wi-Fi 6E deployments.

Regional Insights

In the Americas, the United States and Canada observe a rising trend in mmWave technology development with a strong focus on 5G networks. Major companies are investing heavily in mmWave research to facilitate faster internet connectivity. They are working in collaboration with local operators and government bodies to develop tailored solutions catering to regional requirements. Europe has been proactive in promoting mmWave technology adoption through research & development activities backed by private and public investment. The European Telecommunications Standards Institute (ETSI) has been instrumental in establishing standards for mmWave applications, while individual EU nations have been conducting auctions to assign mmWave spectrum to operators. The Middle East's investments into smart cities and Industry 4.0 are driving demand for mmWave solutions to enable high-speed connectivity and support IoT devices in these environments. In Asia, countries such as China, Japan, and South Korea are actively exploring mmWave technology for advanced communication systems. These countries are investing in mmWave research as it prepares to launch its 5G networks and has formed partnerships with global players to advance its capabilities in this area.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Millimeter Wave Technology Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Millimeter Wave Technology Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Millimeter Wave Technology Market, highlighting leading vendors and their innovative profiles. These include Analog Devices, Inc., Asahi Kasei Microdevices Corporation, Axxcss Wireless Solutions, Inc., bq microwave, Broadcom Inc., CableFree: Wireless Excellence, Cisco Systems, Inc., Dalian Iflabel Technology Co., Ltd., Denso Corporation, Deutsche Telekom AG, ELVA-1 Microwave Handelsbolag, Eravant, Farran Technology Ltd., Fujikura Ltd., Fujitsu Limited, HFCL Limited, Huawei Technologies Co., Ltd., Keysight Technologies, Inc., Kyocera Corporation, L3Harris Technologies, Inc., Marki Microwave, Inc., MaxLinear, Inc., Millimeter Wave Products, Millimeter Wave Systems, LLC, Mistral Solutions Pvt. Ltd., Mitsubishi Electric Corporation, Movandi Corporation, NEC Corporation, Nokia Corporation, Novelic LLC, NTT DATA Corporation, Nuctech Company Limited, NXP Semiconductors N.V., Qorvo, Inc., QUALCOMM Incorporated, Quantic MWD, QuinStar Technology, Inc., Samsung Electronics Co., Ltd., Siklu Communications, Ltd., SIKORA AG, Smiths Group PLC, Sumitomo Electric Industries, Ltd., Tamagawa Holdings Co., Ltd., Telefonaktiebolaget LM Ericsson, Terasense Group Inc., Texas Instruments Incorporated, Toray Industries, Inc., Vubiq Networks, Inc., and ZTE Corporation.

Market Segmentation & Coverage

This research report categorizes the Millimeter Wave Technology Market to forecast the revenues and analyze trends in each of the following sub-markets:

System
- Radar & Satellite Communication Systems
- Scanner Systems
- Telecommunication Equipment

Product
- Antennas & Transceiver
- Communication & Networking
- Frequency Sources & Related
- Imaging Components
- Interface
- Power & Battery
- RF & Radio
- Sensors & Controls

Frequency Band
- 57-95 GHz
- 95-300 GHz
- Below 57 GHz

License Type
- Fully Licensed Frequency Millimeter Wave
- Unlicensed Frequency Millimeter Wave

Component
- Amplifiers
- Attenuators
- Circulators
- Couplers
- Filters
- Isolators
- Mixers
- Shifters

Application
- Automotive
- Consumer
- Industrial
- Medical
- Military, Defense & Aerospace
- Telecom/Datacom

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Millimeter Wave Technology Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Millimeter Wave Technology Market?

3. What are the technology trends and regulatory frameworks in the Millimeter Wave Technology Market?

4. What is the market share of the leading vendors in the Millimeter Wave Technology Market?

5. Which modes and strategic moves are suitable for entering the Millimeter Wave Technology Market?

Product Code: MRR-501246436CA6

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising adoption in security screening and telecommunication technology
  - 5.1.1.2. Extensive use of radar technology in military and aerospace industry
- 5.1.2. Restraints
  - 5.1.2.1. Complex architecture of millimeter wave requiring advanced technology infrastructure
- 5.1.3. Opportunities
  - 5.1.3.1. Growing innovations in the development of mmWave technologies
  - 5.1.3.2. Accelerating traction of mmWave technology for automotive and healthcare applications
- 5.1.4. Challenges
  - 5.1.4.1. Concern associated with distortion from atmosphere
5.2. Market Segmentation Analysis
- 5.2.1. System: Research & development in advancing telecommunication systems for 5G networks
- 5.2.2. Component: Advancements in antennas and sensor technologies based on mmWave for improved communication and networking
- 5.2.3. Frequency Band: Increasing use of less than 57 GHz frequency band due to their large bandwidths and relatively lower path loss
- 5.2.4. Product: Significant application of antennas and transceivers in millimeter wave technology, enabling communication and data transfer
- 5.2.5. License Type: Growing adoption of fully licensed frequency millimeter wave (FLF-MMW) for highly secure and stable connections with minimal risk of interference
- 5.2.6. Application: Vital utility of mmWave technology in military applications for missile guidance systems & drone surveillance
5.3. Market Trend Analysis
- 5.3.1. Growing research and adoption of millimeter wave technology in healthcare and automotive sector in the Americas
- 5.3.2. Expanding deployment of mmWave technology in 5G network with presence of major native market vendors in Asia-Pacific region
- 5.3.3. Increasing participation of government in R&D projects and expansion of technology deployment in EMEA region
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework Analysis

6. Millimeter Wave Technology Market, by System

6.1. Introduction
6.2. Radar & Satellite Communication Systems
6.3. Scanner Systems
6.4. Telecommunication Equipment

7. Millimeter Wave Technology Market, by Product

7.1. Introduction
7.2. Antennas & Transceiver
7.3. Communication & Networking
7.4. Frequency Sources & Related
7.5. Imaging Components
7.6. Interface
7.7. Power & Battery
7.8. RF & Radio
7.9. Sensors & Controls

8. Millimeter Wave Technology Market, by Frequency Band

8.1. Introduction
8.2. 57-95 GHz
8.3. 95-300 GHz
8.4. Below 57 GHz

9. Millimeter Wave Technology Market, by License Type

9.1. Introduction
9.2. Fully Licensed Frequency Millimeter Wave
9.3. Unlicensed Frequency Millimeter Wave

10. Millimeter Wave Technology Market, by Component

10.1. Introduction
10.2. Amplifiers
10.3. Attenuators
10.4. Circulators
10.5. Couplers
10.6. Filters
10.7. Isolators
10.8. Mixers
10.9. Shifters

11. Millimeter Wave Technology Market, by Application

11.1. Introduction
11.2. Automotive
11.3. Consumer
11.4. Industrial
11.5. Medical
11.6. Military, Defense & Aerospace
11.7. Telecom/Datacom

12. Americas Millimeter Wave Technology Market

12.1. Introduction
12.2. Argentina
12.3. Brazil
12.4. Canada
12.5. Mexico
12.6. United States

13. Asia-Pacific Millimeter Wave Technology Market

13.1. Introduction
13.2. Australia
13.3. China
13.4. India
13.5. Indonesia
13.6. Japan
13.7. Malaysia
13.8. Philippines
13.9. Singapore
13.10. South Korea
13.11. Taiwan
13.12. Thailand
13.13. Vietnam

14. Europe, Middle East & Africa Millimeter Wave Technology Market

14.1. Introduction
14.2. Denmark
14.3. Egypt
14.4. Finland
14.5. France
14.6. Germany
14.7. Israel
14.8. Italy
14.9. Netherlands
14.10. Nigeria
14.11. Norway
14.12. Poland
14.13. Qatar
14.14. Russia
14.15. Saudi Arabia
14.16. South Africa
14.17. Spain
14.18. Sweden
14.19. Switzerland
14.20. Turkey
14.21. United Arab Emirates
14.22. United Kingdom

15. Competitive Landscape

15.1. Market Share Analysis, 2023
15.2. FPNV Positioning Matrix, 2023
15.3. Competitive Scenario Analysis
- 15.3.1. NTT Corporation and The University of Tokyo Collaborated to Develop Millimeter-wave RFID tag to Improve Drone Navigation Accuracy
- 15.3.2. MHI-MS Receives an Order for Millimeter-Wave Suppression Equipment from the Japan Automobile Research Institute
- 15.3.3. Fujitsu Develops Pioneering Millimeter Wave Chip Technology for 5G Radio Units
- 15.3.4. Marki Microwave Acquires Precision Millimeter Wave's Waveguide Business
- 15.3.5. Toray Applies Proprietary Technology to Create Thinnest and Lightest Millimeter Wave Absorption Film for Enhanced 5G Device Performances
- 15.3.6. Keysight Introduces PathWave ADS 2024 to Accelerate 5G mmWave Design and Pioneer 6G Development
- 15.3.7. ZTE Launches a New-Generation ultra-high-bandwidth mmWave AAU
- 15.3.8. Kyocera Develops New "Contactless Intelligent Millimeter-Wave Sensing System"
- 15.3.9. 5G mmWave Technology Takes a Giant Leap Forward with QoS Managed Connectivity Demonstrated by Deutsche Telekom, Ericsson, and Qualcomm
- 15.3.10. Keysight Enables Aethertek to Validate Performance of 5G Millimeter Wave Open RAN Radio Units

16. Competitive Portfolio

16.1. Key Company Profiles
16.2. Key Product Portfolio