Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Growing Adoption of 5G Millimeter to Steer Millimeter Wave Technology Market Past US$ 12.7 Bn by 2032

This image opens in the lightbox

News provided by

Fact.MR

05 May, 2022, 10:30 GMT

Share this article

Share toX

Share this article

Share toX

The U.S. To Remain at the Epicenter of Millimeter Wave Technology Market

Fact.MR's latest report on millimeter wave technology market presents a thorough study of growth drivers, latest trends and restraints affecting the market dynamics. It uncovers various emerging opportunities across segments in terms of component, product, frequency band, license type, and end use. The report also highlights strategies adopted by prominent players to improve sales.

NEW YORK, May 5, 2022 /PRNewswire/ -- The global millimeter wave technology market size is projected to reach US$ 2.2 Bn in 2022. Sales are forecast to grow at a stupendous CAGR of 19.3% between 2022 and 2032, reaching around US$ 12.7 Bn by 2032. Rising adoption of millimeter wave technology in telecommunication, radar and security applications is anticipated to propel the market in the forthcoming years.

Millimeter wave technology is a band of radio frequencies used for numerous applications ranging from radio astronomy, automotive radars, remote sensing, and telecommunications to imaging security screening and military applications.

In recent years, millimeter wave technology has gained traction for meeting requirements of the 5G network. These systems have frequency ranges between 30 and 300 GHz that are ideal for quick transmission of data.

Millimeter wave technology is being rapidly adopted by end users such as healthcare, mobile & telecom, and automotive that require higher bandwidth. The technology offers the potential to deliver higher bandwidth as compared to other alternate technologies.

For Critical Insights on Millimeter Wave Technology Market, Request for More Info at:

https://www.factmr.com/connectus/sample?flag=S&rep_id=7276

Ongoing expansion in various end-use verticals coupled with rising penetration of 5G network and connected devices is expected to create lucrative opportunities for the providers of millimeter wave technology.

With surging demand for fast and high-speed video streaming, there has been an increase in broadband and mobile speeds, thereby creating a conducive environment for millimeter wave technology adoption.

The U.S will continue to remain at the top of the ladder in the global millimeter wave technology market, with demand growing at a prolific CAGR of 19% between 2022 and 2032 and surpassing over US$ 4.5 Bn by 2032. Growth in the market is attributable to rising popularity of millimeter wave technology, rapid digitalization, and heavy presence of leading market players.

Report Attributes

Details

Base Year Value (2021A)

US$ 1.8 Bn

Estimated Year Value (2022E)

US$ 2.2 Bn

Projected Year Value (2032F)

US$ 12.7 Bn

Global Growth Rate (2022-2032)

CAGR 19.3%

Key Takeaways:

  • Based on product, sales in the telecommunication equipment segment are forecast to grow at a robust 18.8% CAGR through 2032.
  • In terms of component, demand for frequency sources and relative components is slated to increase at a 19.4% CAGR during the assessment period.
  • By end use, mobile & telecom segment will continue to lead the global millimeter wave technology market.
  • The U.S market is estimated to be worth around US$ 800 Mn in 2022 and is forecast to grow at 19% CAGR over the forecast period.
  • Amid rapid expansion of industrial sector and increasing export of digital devices, the China millimeter wave technology market is set to expand at 18.7% CAGR during the forecast period.

Growth Drivers:

  • Rapid penetration of digitalization across end-use verticals, coupled with increasing adoption of telecommunications devices is anticipated to boost the growth in the market.
  • Ongoing advancement in wave technology for more accuracy and precision integrated with digital media is likely to fuel its adoption.
  • Introduction of 5G technology and rising popularity of connected devices across Asia Pacific will propel sales in the forthcoming years.

Restraints:

  • High cost of operation owing to the requirement for a greater number of network points is challenging the growth in the market.
  • Rising concerns regarding the impact of millimeter wave technology environment is also likely to limit its adoption.

To Gain In-Depth Insights on Millimeter Wave Technology Market, Request Methodology at

https://www.factmr.com/connectus/sample?flag=RM&rep_id=7276

Competitive Landscape:

Key manufacturers operating in the millimeter wave technology market are introducing novel solutions to cater to end user requirements. Besides this, they are adopting various strategies such as partnerships, collaborations, mergers, and acquisitions to expand their global presence.

For instance,

  • In 2021, Movandi, a leader in 5G millimeter-wave (mmWave) RF technologies and software, announced the launch of new products, features, and capabilities during MWC Los Angeles event 2021. The new products include MV6055 60-GHz mmWave chipset for wireless back haul and 5G NR-Unlicensed, and fixed wireless access, 5G mmWave O-RAN phased array antenna module (PAAM) for infrastructure, among others.

Key Companies Profiled by Fact.MR

  • AXXCSS Wireless Solutions
  • NEC Corporation
  • Siklu Communication
  • L3Harris
  • Smiths Group PLC
  • Eravant
  • Aviat Networks
  • Farran Technology
  • Millimeter Wave Products Inc.
  • Elva-1

More Valuable Insights on Millimeter Wave Technology Market

In the latest study, Fact.MR offers a 360-degree view of the global millimeter wave technology market for the forecast period of 2022 to 2032. The report also highlights key factors such as recent developments and growth drivers influencing sales in the millimeter wave technology market through detailed segmentation as follows:

By Component:
  • Antennas & Transceiver Components
  • Frequency Sources and Relative Components
  • Communication & Networking Components
  • Imaging Components
  • RF & Radio Components
  • Sensors and Controls
  • Interface Components
  • Power & Battery Components
  • Other Components
By Product:
  • Scanning Systems
  • Radar and Satellite Communication Systems
  • Telecommunication Equipment
  • Others
By Frequency Band:
  • 24 to 57 GHz
  • 57 to 95 GHz
  • 95 to 300 GHz
By License Type:
  • Light Licensed FMW
  • Unlicensed FMW
  • Fully Licensed FMW
By End Use:
  • Mobile & Telecom
  • Consumer & Commercial
  • Healthcare
  • Industrial
  • Automotive and Transportation
  • Imaging
By Region:
  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa (MEA)

Key Questions Covered in the Millimeter Wave Technology Market Report

  • What will be the demand outlook of the millimeter wave technology market in 2022?
  • What is the projected growth rate of the global millimeter wave technology market during 2022-2032?
  • Which are the key drivers bolstering growth in the millimeter wave technology market?
  • Which factors are hindering the growth in the millimeter wave technology market?
  • Which region is expected to exhibit the fastest growth in the global millimeter wave technology market during 2022-2032?

Explore Fact.MR's Coverage on the Technology Domain

Wireless Security System Market: Fact. MR predicts a positive growth trajectory for wireless security systems market amid rising security concerns across residential and industrial sectors. Moreover, increasing investments in smart city programs, coupled with innovations in wireless security systems is likely to boost sales over the forecast period.

Camera Alarm System Market: The global camera alarm system market is forecast to grow at a CAGR of 5.2% during the assessment period. Sales of camera alarm systems are expected to rise on account of increasing security concerns and growing demand for smart home security solutions across developed and developing economies.

Video Decoder Market: Demand for video decoders is anticipated to rise at a considerable pace during the forecast period, owing to the rapid urbanization, rise in the number of dish TV service providers, and growing trend of using cloud services. Video decoders are generally used   in applications that require videos to be transmitted over long distances. They provide high throughput and real-time processing, which is in high demand in the video processing area.

About Fact.MR

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, chemical, and materials, to even the most niche categories. 80% of Fortune 1000's trusts us in critical decision making.

Contact: 

Mahendra Singh
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E: sales@factmr.com

Follow Us: LinkedIn | Twitter

Logo: https://mma.prnewswire.com/media/713666/FactMR_Logo.jpg 

Modal title

Also from this source

Bisabolene Market is Forecasted to Reach US$ 4.6 Million by 2034, Expanding at a CAGR of 3.9% | Fact.MR Report

According to a new research report published by Fact.MR, the global Bisabolene Market was valued at US$ 3 million in 2023 and has been forecasted to...

Hyaluronic Acid Raw Material Market is projected to grow at a CAGR of 5.2%, Reaching a value of $11.7 billion by 2034 | Fact.MR Report

The global Hyaluronic Acid Raw Material Market has been valued at US$ 7.05 billion in 2024, as stated in the recently updated industry analysis by...

More Releases From This Source

Explore

Telecommunications Industry

Telecommunications Industry

Computer & Electronics

Computer & Electronics

News Releases in Similar Topics

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.