Millimeter Wave Technology: Powering the Future of Connectivity | IndustryARC?

The millimeter wave technology market size is projected to grow from USD 3.0 billion in 2024 to USD 7.6 billion by 2029, growing at a CAGR of 20.1% between 2024 to 2029.

The millimeter-wave frequencies of the electromagnetic spectrum are being predominantly used for applications such as radio astronomy, remote sensing, military and other applications. The booming number of small cell backhaul network deployments and mobile backhaul solutions in metros are driving the market growth. In addition to this, millimeter-wave offers a promising multi-gigabit transmission rate, cost-effective candidate for 5G backhauling, which is further anticipated to provide a boost to the millimeter-wave market growth during the forecast period.

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Key Takeaways

• APAC dominates the Millimeter Wave Market attributed to the surge in the number of investments and partnerships in the telecommunication sector in this region.
• Increasing mobile traffic is prompting next-generation cellular research. In order to cater to the consumers’ data services, numerous projects are underway to integrate millimeter wave technology into the current mobile networks as a multi-band network.
• Moreover, the communication devices produced on a mass scale to handle 5G networks and meet the growing demand for faster data transfer rates, are expected to accelerate the market.
• Limited range of the millimeter-wave restrains the range to 10 meters or less, thereby obstructing the growth of the Millimeter Wave Market.

Drivers – Millimeter Wave Market

• Technological Advancements in Communication Systems

High adoption of millimeter wave technology to provide wireless communication in smart wearable, smartphones and smartwatches have fuelled the millimeter wave market growth. Technological advances in digital networks connect a number of devices and sensors together, which ensures advances in healthcare, education, transportation, automotive, telecommunication, and other industries. In addition, an increase in demand for higher bandwidth increases the demand for new technologies such as mm-wave over fiber optic cable, which provides high data transmission at high rate.

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• Increased demand from Military and Automotive Sector

There has been a surge in demand for millimeter wave technology in unmanned vehicles owing to a shift in preference of consumers from normal cars to smart? cars, which assist automatic parking, braking, GPS navigation, blind spot detection collision avoidance system, and others. Hence, such benefits can be availed only with the integration of mm-wave technology. In addition, millimeter wave technology aids in the exchange of information in military and defense sector by making use of various applications such as electronic warfare, radar, tactical, and satellite communications. These factors are expected to create lucrative opportunities for the millimeter-wave technology market globally.

Challenges – Millimeter Wave Market

• Limited Network Range

One of the major challenges faced by millimeter wave market is its limited range. As per the laws of physics, the shorter the wavelength, the shorter is the transmission range for a given power. While signals at poor frequency bands can spread apart? many miles, and enter more easily through rigid structures, millimeter-wave signals travel only a few miles, and do not penetrate concrete materials effectively. This challenge restrains the range to 10 meters or less, thereby hindering the growth of the global millimeter wave market.

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??????? ??????????????????: Millivision Inc | Sage | Keysight Technologies | Vubiq Networks, Inc. | BridgeWave Communications | E-Band Communications, LLC | Aviat Networks | NEC Corporation | Siklu | L3Harris Technologies | Anokiwave is now Qorvo | LightPointe Communications | Laird Connectivity | Farran Technology | QuinStar Technology, Inc. | Gapwaves AB | Wireless Excellence