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According to Publisher, the Global Millimeter Wave Technology market is accounted for $0.27 billion in 2015 and is expected to reach $2.89 billion by 2022 growing at a CAGR of 40.5%. Rapid increase in usage of Millimeter wave in small cell backhaul networks, demand for innovative applications in the radar and security applications, increasing demand for bandwidth intensive applications and consumer electronics applications are the major drivers for the market growth.
However, environmental issues and limited range are the reasons hampering the market growth.
Mobile & Telecom segment in application is expected to dominate the market and Industrial segment is estimated to be the fastest growing segment on demand of millimeter wave technology for imaging applications, material research and process control.
Moreover, North America is estimated to dominate the market due to proliferating demand in mobile and telecom sector in U.S. In addition to that, Asia Pacific is expected to be the fastest growing market due to the developments in growing telecommunication sector.
Some of the key players of the Millimeter Wave Technology market include Mi-Wave, Inc., AOptix, Aviat Networks, Inc., Bridgewave Communications, Inc., Ducommun, E-band communications, Elva-1, Farran Technology Ltd., Fujitsu, Hittite Microwave Corporation, Loea Corporation, Millimeter Wave Products Inc., Millitech, Inc., Quinstar Technology, Inc., Sage Millimeter, Inc., Siklu Communication, Ltd., Sivers IMA, Smiths Group Plc, Vubiq, Inc. and Wasa Millimeter Wave Ab.
- MM Radar & Satellite Communication Systems
o Satellite Communication Systems
o Perimeter Surveillance Radar
o Application-Specific Radar Systems
- MM Telecommunication Equipment
o Macrocell Equipment
o Small Cell Equipment
- MM Scanner Systems
- Other Products
- Consumer & Commercial
- Mobile & Telecom
- Antennas & transceiver
- Communication & networking components
- Control Devices
- Ferrite Devices
- Frequency sources & related components
- Imaging components
- Interface components
- Power & Battery Components
- RF & Radio Components
- Other Components
Frequency Bands Covered:
- Bands between 8 GHz and 57 GHz
- Bands between 57 GHz and 86 GHz
- Bands between 86 GHz and 300 GHz
- North America
o Rest of Europe
- Asia Pacific
o New Zealand
o Rest of Asia Pacific
- Rest of the World
o Middle East
o South Africa
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