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Millimeter Wave Technology Market to Reach $3.25 Bn, Globally, by 2026 at 40.4% CAGR: Allied Market Research

Increase in testing of 5G technology in U.S., Japan, South Korea, and China, rising demand for smart devices, and surge in use of millimeter wave technology-based scanner systems in airports fuel the growth of the millimeter wave technology market

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Allied Market Research

15 Oct, 2019, 13:53 GMT

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PORTLAND, Oregon, Oct. 15, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Millimeter Wave Technology Market by Product Type (Scanner Systems, Radar & Satellite Communication Systems, and Telecommunication Equipment), License Type (Light Licensed Frequency, Unlicensed Frequency, and Fully Licensed Frequency) Frequency Band (Below 57GHz, Between 57GHz & 300GHz, and Above 300GHz) Application (Telecommunication, Military & Defense, Automotive, Radio Astronomy, Consumer Industry, Commercial, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026." According to the report, the global millimeter wave technology industry garnered $220.5 million in 2018, and is estimated to reach $3.25 billion by 2026, growing at a CAGR of 40.4% from 2019–2026. The report also provides a detailed analysis of the drivers & opportunities, top investment pockets, top winning strategies, market size & estimations, competitive landscape, and wavering market trends.

Drivers, restraints, and opportunities-

Rise in testing of 5G technology in U.S., Japan, South Korea, and China, growing demand for smart devices and surge in use of millimeter wave technology-based scanner systems in airports drive the growth of the millimeter wave technology market. On the other hand, adverse impact of millimeter wave technology on the environment restrains the growth to some extent. However, increasing usage of millimeter wave technology in military & defense sector and rise in demand for autonomous vehicles are expected to create multiple opportunities for the key players in the industry.

The telecommunication segment to lead the trail by 2026-

Based on product, the telecommunication segment accounted for nearly three-fourths of the global millimeter wave technology market share in 2018 and is expected to dominate throughout the forecast period. Rise in demand for wireless device and extremely high data rates by the users in the telecom industry are anticipated to propel the growth. The same segment is also projected to grow at the fastest CAGR of 42.9% till 2026.

Download Sample Report: https://www.alliedmarketresearch.com/request-sample/833

The fully licensed Frequency millimeter wave segment held the largest share in 2018-

Based on license type, the fully licensed frequency millimeter wave segment contributed to more than four-fifths of the global millimeter wave technology market revenue in 2018 and is anticipated to retain its top status throughout 2019–2026. Increasing adoption of fully licensed frequency has fueled the growth. The light licensed frequency millimeter wave segment, on the other hand, would register the fastest CAGR of 47.7% during the study period. The fact that light licensed frequency approach enables easier spectrum management and combines two approaches such as individual licensing and general authorization government has accentuated the growth.

Asia-Pacific, followed by North America, to rule the roost in terms of revenue-

Based on geography, the Asia-Pacific region, followed by North America, generated the lion's share in 2018, holding nearly two-fifths of the global millimeter wave technology market. High demand for bandwidth intensive application and need for millimeter wave solution in the telecom sector have increased the usage of the technology in the region. The same province would also cite the fastest CAGR of 45.4% throughout the forecast period. Rise in demand for high speed network for accessing smart application on commercial and residential level has helped drive the growth of the millimeter wave technology market in the region.

Inquire for Purchase Report: https://www.alliedmarketresearch.com/purchase-enquiry/833

Leading market players-

  • L3 Technologies, Inc.
  • Keysight Technologies
  • Siklu Communication
  • BridgeWave Communications (REMEC Broadband Wireless Networks)
  • LLC, SAGE Millimeter, Inc.
  • NEC Corporation
  • CableFree: Wireless Excellence
  • Farran Technology
  • Millimeter Wave Products Inc.
  • E-Band Communications

Access KNOWLEDGE TREE (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/knowledgetree

Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.

Similar Reports:

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada): +1-800-792-5285, +1-503-446-1141
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help@alliedmarketresearch.com

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