Product Code: RP-ID-10352461 |
Published Date: 21 Mar 2025 |
Region: Global |
Category: ICT & Telecom |
Report ID: 10352461
Market Overview:
Millimeter-Wave-Technology-Market Analysis by Product (Telecommunication Equipment, Imaging & Scanning Systems, and Radar & Satellite Communication Systems); by Component (Antennas & Transceivers, Amplifiers, Oscillators Control Devices, and Others); by Application (Telecommunications, Military & Defense, Automotive & Transport, and Others); by Frequency Band (V-Band, E-Band, and Other Frequency Bands); and by License Type (Light Licensed, Unlicensed, Fully Licensed)-Global Supply & Demand Analysis & Opportunity Outlook 2023-2033
Global Millimeter-Wave-Technology Market Scope Report
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~40% |
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Base Year Market Size (2022) |
~ USD 3 Billion |
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Forecast Year Market Size (2033) |
~ USD 40 Billion |
Global Millimeter-Wave-Technology Market Size, Forecast, and Trend Highlights Over 2023 - 2033
The global millimeter-wave-technology market is estimated to garner a revenue of USD 40 billion by the end of 2033 by growing at a CAGR of ~40% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 3 billion in the year 2021. The primary growth factor is the growing use of the internet. The global statistics according to World Bank show the number of secure internet servers per 1 million people as of 2019 was 9,975 which rose to 11,499 in 2020. The percentage of the population of individuals using the internet was 54% in 2019 which has risen to 60% in 2020. The fixed broadband subscriptions worldwide in 2020 were 1.23 billion.
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Millimeter waves or millimeter bands are extremely high-frequency (EHF) bands of spectrum with wavelengths between 10 millimeters (30 GHz) and 1 millimeter (300 GHz). Since it enables higher data rates as compared to lower frequencies it is used in a wide range of applications such as point-to-point wireless local area networks (WLANs) and broadband access, mobile services, and other wireless networks. In addition, since antennas for millimeter wave devices are smaller as compared to other frequencies, they are better suited for small internet of things (IoT) devices. There are currently 14.4 billion IoT devices as of 2022. The growth in this segment has been approximately 18%. In addition, the introduction of NarrowBand-Internet of Things (NB-IoT) which is supported by all major mobile equipment, can exist side by side with 2G, 3G, and 4G mobile networks, is also promoting the growth of millimeter wave technology. It has significantly improved the power consumption of user devices, system capacity, and spectrum efficiency. As per a report, by 2022, 140 operators have deployed NB-IoT or LTE-M networks in 64 countries, which is boosting the growth of the millimeter wave technology market.
Global Millimeter-Wave-Technology Market: Growth Drivers and Challenges
Growth Drivers
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Growth of the Telecommunication sector: As per statistics available from the World Bank, database of the International Telecommunication Union (ITU), and World telecommunication/ICT, mobile cellular subscriptions per 100 people in the year 2020, was 106 and the total number of fixed broadband subscription was 1.23 billion. 60% of the global population was using the internet in the same year.
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The growing use of smartphones and wearable electronics – The number of connected wearable devices worldwide as of 2022 is 1105 million. As of 2022, the number of smartphone users in the world is 6.648 billion. In other words, 83.32% of the world's population owns a smartphone.
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Increasing use of cloud computing – As per statistics available, by 2025, the value of public cloud computing industry will be worth USD 800 billion. 57% of business enterprises have incorporated use of the cloud in their operations. Cloud adoption statistics as of 2020, reveal that more than 90% of companies utilizing the cloud, adopted multi-cloud strategy, in which the organization utilizes the services of various providers like Amazon AWS, Google Cloud, etc., to perform their functions. All of this requires functional data speed and reduced latency which will promote the millimeter wave technology market.
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Introduction of 5G network: China and the United States are leading in their 5G rollout, with a combined total of 652 cities in which 5G is available. 5G networks are estimated to have more than 1.7 billion subscribers and are predicted to account for 25% of the worldwide mobile technology market by 2025, according to the GSM Association and Statista. With the ongoing research and development adaption of mmWave into 5G systems seem to be well on its way as it will provide blazing fast speed and reduce network congestion. Many countries have already initiated the process of mmWave spectrum auctions for 5G.
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Increasing use of MMW technology in military and defense– The fast throughput of millimeter wave 5G has the potential to keep super-fast microprocessors, general-purpose graphics processing units (GPGPU), field-programmable gate arrays (FPGAs), and other data-processing architectures fed -- even when exchanging information from the tactical cloud. In October the military announced $600 million in contracts for 5G experimentation and testing at five military test sites, which represents the largest full-scale 5G tests for dual-use applications in the world.
Challenges
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Inadequate electronic components that can generate or receive millimeter waves
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Poor foliage penetration and free-space path loss
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Dearth of travelling media required for high frequencies such as millimeter wave
The global millimeter-wave-technology market is segmented and analyzed for demand and supply by application into telecommunications, military & defense, automotive & transport, healthcare, electronics & semiconductor, and security. Amongst them the healthcare segment is anticipated to hold the largest market size by 2033. The cells of living organisms generate electromagnetic fields, which communicate within the body in millimeter waves (mmWave), or frequencies center at 42.2, 53.6, and 61.2 GHz. The basic cause for health problem is the unbalance in these cells. An external low power (mW/cm2) mmWave source with right frequency can thereby be used to stimulate and establish communication with body cells and cell membranes and hence correct the unbalances in the organism. This non-thermal low-intensity electromagnetic energy treatment is millimeter-wave therapy (MWT) and can effectively cause healing effects in cardiovascular disorders, diabetes, dermatitis, depression, gastrointestinal disorders, wound healing, pain relief, and the reduction of toxic side effects of chemotherapy in cancer patients. As per a study, 177 patients with migraine were treated with millimeter wave therapy, 122 out of them experienced complete relief from the pain.
Global Millimeter-Wave-Technology Market Regional Synopsis
Regionally, the global millimeter-wave-technology market is studied into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2031. The number of households with a computer is 91.9 % in United States and households with a broadband internet subscription is 85.2%. Moreover, the number of companies offering millimeter wave technology, are mostly from this region- Axxcss Wireless Solutions, Inc, L3HARRIS Technologies Inc, Keysight Technologies and Aviat Networks, Inc. There has been an emphasis by the Federal Communications Commission (FCC) towards allocation of spectrum for 5G broadband services in the U.S., advancement has been made both below and above 24 GHz.
Global Millimeter-Wave-Technology Market Segmentation
Our in-depth analysis of the global millimeter-wave-technology market includes the following segments:
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By Product |
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By Component |
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By Application |
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By Frequency Band |
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By License Type |
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Key Companies Dominating the Global Millimeter-Wave-Technology Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global millimeter-wave-technology market that are included in our report are Axxcss Wireless Solutions, Inc, NEC Corporation, L3HARRIS Technologies Inc, Smiths Group Plc, Farran Technologies, Aviat Networks, Inc, Siklu Inc., E-band Communications LLC, Eravant (Sage Millimeter, Inc), Bridgewave Communications, Inc., and others.
Global Millimeter-Wave-Technology Market: Latest Developments
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13th June, 2022: NEC Corporation, along with the researchers at Tokyo Tech, have recently developed a novel phased-array beamformer for the 5G millimeter wave (mmWave) band which produces exceptional energy and area efficiency and outperforms other state-of-the-art 5G transceivers.
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April 2022, Farran has announced the launch of Farran’s 5G Communication Extender, FCE-V-TR-0001, which enables the user to evaluate the performance and compliance of DUT’s that are used in digitally modulated communication systems (such as QAM) in the 5G frequency range. It is adaptable with 3rd Generation Partnership Project (3GPP) Release 17 standards for all current 5G millimeter wave bands and carrier bandwidths.-
Key Reasons to Buy Our Report
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The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
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It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
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The report includes detailed company profiles of the major players dominating the market.
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We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
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We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.
- Axxcss Wireless Solutions Inc
- NEC Corporation
- L3HARRIS Technologies Inc
- Smiths Group Plc
- Farran Technologies
- Aviat Networks Inc
- Siklu Inc.
- E-band Communications LLC
- Eravant (Sage Millimeter, Inc)
- Bridgewave Communications Inc.
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