Millimeter Wave Market Global Review From 2017 to 2023 of 145 pages added by reports and reports explores Global Millimeter Wave Market size, trends, demand, share, growth, industry, and companies’ analysis to 2023. According to study Global Millimeter Wave market set to grow $2,302.6 million by 2023, growing at a CAGR of 35.2%.
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The growth of global Millimeter Wave market is boosted by factors such as growing mobile data traffic and demand for bandwidth-intensive applications, increasing usage of millimeter wave in small-cell backhaul networks, rising demand for innovative applications in radar and security, and high potential for the use of millimeter wave technology in consumer electronics.
Millimeter Wave Companies Market Analyzed For Danaher Corporation (U.S.), Merck Millipore (U.S.), Sartorius Stedim Biotech S.A. (France), Parker Hannifin Corporation (U.S.), and GE Healthcare (U.S.).
“The global millimeter wave technology market for mobile and telecom applications held the largest market share in 2016”
The global millimeter wave technology market for mobile and telecom applications held the largest market share in 2016.
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This is attributed to the need for high bandwidth to serve new and existing subscribers using extensive mobile data. Also, the components used for infrastructure in the testing of the 5G technology, primarily by AT&T and Verizon, are based on millimeter wave technology.
“Telecommunication equipment market is expected to witness significant growth between 2017 and 2023”
The market for telecommunication equipment is expected to grow significantly during the forecast period owing to the growing use of millimeter wave technology-based components in the 5G infrastructure, which is anticipated to be commercialized in the later phase of the forecast period. The telecom infrastructure primarily includes small cell mobile backhaul, which is a key product in telecom equipment.
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“North America held the largest market share in 2016 and is expected to exhibit considerable growth during the forecast period”
North America is expected to hold the largest share of the millimeter wave technology market during the forecast period. The increasing demand from mobile and telecom, imaging, military, defense, and aerospace application is expected to drive the growth of the millimeter wave technology market in North America.
Research & development as well as beta testing of autonomous vehicles, primarily in the US, is expected to provide growth avenues in the region.
Research Coverage: This research report categorizes the global millimeter wave technology market on the basis of product, frequency band, license type, application, component, and geography. The report discusses the major drivers, restraints, challenges, and opportunities pertaining to the market; value chain analysis; and market ranking analysis.
This report segments the millimeter wave technology market comprehensively and provides the closest market size estimation for sub segments across different regions. The report would help stakeholders understand the pulse of the market and provide them the information on key drivers, restraints, challenges, and opportunities for market growth.
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