In mobile telecommunication networks, spectrum scarcity is a longstanding problem. Sufficing the rapidly surging data rate & demand for communications in the 800 MHz- 6 GHz spectrum is becoming more challenging. Hence, communication in the millimeter-wave frequency range, i.e., 30- 300 GHz, has attracted the attention of many researchers.
Millimeter-wave technology will enable a 5G network, in which all applications could get high speed & reliability. With the growing amount of information likely to move at lightning-fast speeds along the spectrum, the adoption of Millimeter-wave technology is increasing significantly. It is in extensive demand by the users from enterprise data centers & home consumers who use smartphones & require higher bandwidth. Moreover, using millimeter-wave frequencies for connecting mobile users to nearby base stations is entirely a new approach & is likely to experience high growth in the future.
The Global Millimeter Wave Technology Market is anticipated to grow at a CAGR of around 36% during the forecast period, i.e., 2021-26. The growth of the market attributes primarily to the mounting demand for high-speed mobile broadband owing to the increasing number of smartphone users and surging internet penetration. Additionally, the wide-range applications of mobile broadband across several verticals, including government, commercial space, telecommunication, online gaming, etc., is another crucial factor positively influencing the Millimeter Wave Technology Market.
Further, massive government investments in rolling out 5G networks and escalating adoption of millimeter wave technology in radar & security applications are other crucial aspects expected to propel the market growth in the forecast years. Moreover, rising funding by startups to boost the millimeter-wave 5G is also driving the market. For instance:
Moreover, an increasing number of internet users are also fueling the demand for millimeter-wave technology. Approximately two-thirds of the global population is projected to have Internet access by 2023, which means that there will be around 5.3 billion total Internet users by 2023, i.e., nearly 66% of the global population.
The rise in the usage of millimeter wave technology in small cell backhaul networks and mounting demand for millimeter wave technology across industries, such as aerospace, military, and defense, for the fast exchange of information like commands & orders from one location to another with high security & connectivity, are other crucial factors driving the Global Millimeter Wave Technology Market through 2026.
|Study Period||Historical Data: 2016-19|
|Base Year: 2020|
|Forecast Period: 2021-26|
|Regions Covered||North America: USA, Canada, Mexico|
|Europe: Germany, UK, France, Italy, Others|
|Asia-Pacific: China, India, Japan, South Korea, Others|
|South America: Brazil, Others|
|Middle East & Africa: GCC, South Africa, Others|
|Key Companies Profiled||Lightpointe Communications, Inc., Millitech, Inc., Bridgewave Communications, QuinStar Technology, Inc., Eravant (Sage Millimeter, Inc.), Cablefree: Wireless Excellence, E-Band Communications, Llc., Farran Technology, Aviat Networks, Inc., NEC Corporation, Siklu Communication Ltd., Trex Enterprises Corporation|
|Unit Denominations||USD Million/Billion|
Impact of Covid-19 on the Global Millimeter Wave Technology Market
The Covid-19 pandemic in 2020 crippled the entire world. Nearly all countries across the globe imposed lockdowns & social distancing measures, which adversely affected most industries, caused delays in 5G deployment, and negatively impacted the Global Millimeter Wave Technology Market.
The imposition of lockdown also led to the shutdown of Electronics manufacturing units and disrupted the supply chain of the semiconductor market by creating shortages of components & finished goods. It led to the disturbance in business continuity that further affected the millimeter wave technology market. For instance:
However, despite the economic slowdowns, the demand for 5G is continuously increasing in the healthcare & manufacturing sectors, the millimeter wave technology market is expected to rise significantly in the years to come.
Here, Scanning Systems acquired the largest share of the Global Millimeter Wave Technology. The rise in the demand for scanning systems is primarily due to the introduction of millimeter-wave images in the biometric field to conquer the limitation of harmful X-ray radiations. In addition, the mounting usage of millimeter wave screening scanners in security applications for identifying metallic or non-metallic concealed objects like weapons, explosives, knives, etc., is also contributing to the overall market growth.
Moreover, the surge in the implementation of scanner systems in high profile places, such as government buildings, VIP residential areas, five-star hotels, business workplaces, etc., and compulsory installation of a body scanner at airports are other crucial factors driving the millimeter wave technology market. For instance:
In April 2019, Aviation security regulator BCAS directed 84 hypersensitive & sensitive airports across India to install body scanners by March 2020 by replacing all the existing door frame metal detectors and hand-held scanners. After this, in 2020, the AAI had issued a tender to get 198 body scanners for 63 airports.
On the other hand, the demand for Telecommunication equipment is projected to experience the fastest growth over the forecast years, primarily due to the mounting adoption of millimeter wave components in indoor & outdoor telecommunication equipment.
Additionally, the burgeoning need for high-speed mobile networks has led to a surge in investments in 5G deployment projects to provide 5G services, which, in turn, positively influenced the growth of the Millimeter-Wave Technology Market.
Here, of all components, Antennas & Transceivers hold the largest share in the Global Millimeter Wave Technology Market. It is due to the increasing development of advanced millimeter wave distributed antenna radio units to provide better capacity & coverage. Besides, the rising adoption of 5G wireless networks for broadband wireless communication is another crucial aspect contributing to the surging demand for Antennas & Transceivers.
The escalating usage of antennas & transceivers in the telecommunication industry is primarily for high-speed wireless communication and the rising deployment of 5G equipment for smart devices, autonomous vehicles, etc. Moreover, the burgeoning demand for advanced antennas to facilitate the large-scale deployment of 5G mobile networks shall also augment the overall market growth in the coming years.
Recent Trends in the Global Millimeter Wave Technology Market
Amongst all regions, North America dominates the Millimeter Wave Technology Market, mainly due to the increasing deployment of millimeter wave technology in verticals, including telecom, aerospace, healthcare, etc. In addition, rising customer preference for autonomous vehicles and connected devices, such as tablets & smartphones, are other crucial aspects contributing to the regional market growth.
Further, snowballing government investments to facilitate the development of 5G networks and mounting web traffic is also expected to propel the Millimeter Meter Wave Technology Market across North America in the coming years. In addition, the launch of public millimeter wave services by the market players shall also drive the North America Millimeter Wave Technology Market during 2021-26.
Key Driver: Rise in Mobile & Broadband Data Speeds
Broadband speed is the most critical factor that has accelerated IP traffic & consumption of high-bandwidth content. It is expected that between 2020 & 2025, the global average broadband speed is likely to grow two folds, from 62.5 Mbps to > 130 Mbps, due to the mounting adoption of Fiber-to-the-Home (FTTH), cable broadband, & high-speed DSL.
Furthermore, the increasing deployment of 5G technology using millimeter wave spectrum for low-latency, high-capacity fixed wireless broadband networks is also fueling the overall market growth. Millimeter-wave frequencies allow the usage of narrow beamwidth antennas that enables power to be directed to where it is required with a high-speed capacity.
Possible Challenge: Adverse Environmental Impact of Millimeter Waves
The power density of waves above 5–10 mW/cm2 leads to thermal effects. The high-intensity millimeter waves affect human skin & cornea, causing pain and physical damage at higher exposures. Furthermore, the deployment of 5G networks can surge energy usage and result in rapid climate changes. Besides, the manufacturing of new technologies associated with 5G produces waste and uses crucial resources that lead to environmental consequences. Moreover, millimeter waves can be harmful to birds, which, in turn, has cascading effects through entire ecosystems.
According to MarkNtel Advisors, the giant leading players in the global Millimeter Wave Technology market are Bridgewave Communications, Ablefree: Wireless Excellence, E-Band Communications, Llc., Farran Technology, Aviat Networks, Inc., Lightpointe Communications, Inc., Millitech, Inc., NEC Corporation, QuinStar Technology, Inc., Eravant (Sage Millimeter, Inc.), Siklu Communication Ltd., Trex Enterprises Corporation, etc.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation, and Statistics
Frequently Asked Questions
A. The Global Millimeter Wave Technology Market is forecast to grow at a CAGR of around 36% during 2021-26.
A. Antennas & Transceivers hold the largest share of Global Millimeter Wave Technology Market, which would create remunerative growth opportunities for the leading market players during 2021-26.
A. Extensive usage of millimeter wave technology in consumer devices and increasing demand for millimeter-wave technologies in security & surveillance applications are the key factors projected to drive the Global Millimeter Wave Technology Market through 2026.
A. In the coming years, the Global Millimeter Wave Technology Market is expecting significant growth, owing to the constantly increasing demand for 5G networks across different verticals worldwide.