Millimeter Wave Technology Market Report 2022: Exponential Increase in Traffic as Key Revenue Driver – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Millimetre Wave Technology Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030” report has been added ResearchAndMarkets.com Offer.
The global millimeter wave technology market is estimated to grow at a CAGR of 35.2% during the forecast period (2022-2030). The global millimeter wave technology market is primarily driven by increasing mobile data traffic, demand for bandwidth-intensive applications and increasing millimeter wave adoption in small cell backhaul networks.
Exponential increase in traffic Key booster of market revenue
Traffic is the amount of data that is transferred between the Internet and the hosting account on the web server. As users move towards more data-intensive content such as video streaming, augmented reality, voice over data, 4k video, increasing number of internet users on smartphones, etc., data traffic is expected to increase in the future. Growing traffic leads to bandwidth complexity and network congestion.
One of the main advantages of millimeter wave technology is the ability to transmit large amounts of data since frequency is directly proportional to bit rates. Thus, the millimeter waves are suitable for the transmission of digital data, mobile communications. This creates a need for an efficient wireless mobile backhaul. The researchers and telecom operators are attempting to integrate millimeter wave technology to curb bandwidth shortages and deliver data-intensive content with ease, leading to the launch of millimeter wave technology market.
5G, the new buzz, ensures significant growth around the world
The millimeter waves are considered the key technology for the successful use of wireless communication networks of the 5th generation. With the growing investment in 5G infrastructure, huge demand for devices based on millimeter wave technology is expected. According to the Organization for Economic Co-operation and Development (OECD), by 2023, the communication network and service environment would become more complex and the 5G technology market would experience immense growth due to ongoing advances in 5G network infrastructure. The US, UK, France, Germany, South Korea, Japan and China are at the forefront of research and trial investment for 5G technology. Such investments in 5G would drive the development of wireless infrastructure and networks and fuel the growth of the global mobile and telecom market during the forecast period.
Mobile and telecom applications account for more than half of the market revenue
The global millimeter wave technology market has been segmented on the basis of product, frequency band, license type and application. The application segment is further divided into Mobile & Telecom, Consumer & Commercial, Healthcare, Industrial, Automotive & Transportation, Military, Defense, and Aerospace & Imaging. Mobile & Telecom leads the application segment in terms of revenue in the global millimeter wave technology market, with a market share of approximately 55.14% in 2019. The millimeter waves are considered to be the key technology for the successful deployment of 5th generation wireless communication networks and the growing telecom industry is expected to drive the global millimeter wave technology market during the forecast period. Increasing investment and the rollout of 5G technology network are expected to create huge demand for millimeter wave technology devices. The mobile and telecom application is expected to grow at a CAGR of 35.9% during the forecast. The telecommunications industry is undergoing a radical change with increasing data consumption and limited bandwidth. As data consumption increased, the radio frequency spectrum became congested as all cell phone providers operated in the same frequency band, resulting in slower service and more dropped connections.
Main topics covered:
3. Millimeter Wave Technology Market: Business Outlook and Market Dynamics
4. Millimeter Wave Technology Market: By Product Type, 2020-2030, USD (Million)
5. Millimeter Wave Technology Market: By Frequency Band, 2020-2030, USD (Million)
6. Millimeter Wave Technology Market: By License Type, 2020-2030, USD (Million)
7. Millimeter Wave Technology Market: By Component, 2020-2030, USD (Million)
8. Millimeter Wave Technology Market: by Application, 2020-2030, USD (Million)
9. North America Millimeter Wave Technology Market, 2020-2030, USD (Million)
10. UK & European Union Millimeter Wave Technology Market, 2020–2030, USD (millions)
11. Asia-Pacific Millimeter Wave Technology Market, 2020-2030, USD (Million)
12. Latin America Millimeter Wave Technology Market, 2020-2030, USD (Million)
13. Middle East & Africa Millimeter Wave Technology Market, 2020-2030, USD (Million)
14. Company Profile
Bridgewave Communications Inc.
E-Band Communications LLC
Farran Technology Ltd.
Keysight Technologies Inc.
Lightpointe Communications Inc.
Aviation Networks Inc.
Proxim Wireless Corporation (acquired by Terabeam Inc.)
Millitech Inc. (acquired by Smiths Group)
Sage MM Inc.
Siklu Communication Ltd.
Trex Enterprises Corporation
Quinstar Technology Inc.
For more information about this report, visit https://www.researchandmarkets.com/r/l2f7te
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