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Millimeter Wave Technology Market: by Component (Imaging Component), Product (Scanner System), Frequency Band (24–57 GHz), License Type, Application, and Region — Forecast till 2029

Market Snapshot
Study Period:
Base Year:
Fastest Growing Market:
Asia Pacific
Largest Market:
North America
19 %
Key Players

Siklu Communication

Aviat Networks

Farran Technologies


Smiths Group

Market Overview

Millimeter wave technology is a band of radio frequencies, with a spectrum band between 30GHz to 300GHz. The short wavelength of the technology provides sub-mm range accuracy. Some of the benefits comprise of increased performance, better coverage, and closer integration across multiple wireless technologies, such as 4G LTE to Wi-Fi, sub-6GHz 5G, and 5G mm-wave. Additionally, its compliance with 5G has largely benefitted in easy deployment.

The goal of mm-Wave is to expand the available data bandwidth over smaller, heavily populated regions. It will be a crucial part of 5G in many cities, powering data in sports stadiums, malls, and convention centers, and essentially everywhere, data congestion may be a problem. Outside rural towns and villages, sub-6GHz and low bands below 2GHz are likely to play a more crucial role in ensuring consistent coverage.

Further, the millimeter wave technology market is expected to grow from USD 1 billion in the year 2019 to USD 4.8 billion in 2027, with a CAGR of 19%.


Market Driver

Increase in Broadband and Mobile Speeds with Growing Utility and Demand to Drive the Market

With the proliferation of technology, there has been a surge in the utility and demand for internet services. Digitalization in all the industry verticals has led to the faster adoption of smartphones and other connected devices. As stated by the 'State of the Industry Report on Mobile Money 2019', published by GSMA, globally, in 2019, there were 372 million active mobile services accounts. As stated in the 'State of Broadband: Broadband as a Foundation for Sustainable Development,' September 2019, published by Broadband Commission, International Telecommunication Union, approximately 51% of the total population use the internet. Thus, a surge in demand for increased broadband and mobile internet utility speed has been noted. The mm-wave technology is anticipated to be used for 5G backhaul. On April 14, 2020, Samsung demonstrated that with full potential, the 5gmmwave can achieve a speed of 8.5 Gbps across multiple devices.

Significant Rise in the Utilization of MM Wave Technology in the Military and Aerospace Applications

The transition of the next-generation tactical networks and electronic warfare, along with the tremendous need for connectivity bandwidth and speed, has surged the demand for mm-wave technology. The increase in the utilization and the sophistication of the connected devices has led to congestion on the network. Some of the applications in the military comprise terrestrial radar, manpack portable radios, advanced driver assisted systems (ADAS), and the need for quick and high-quality images and videos of the battlefield, which is provided by mm-wave technology. Its widening scope in the aerospace industry for in-flight connectivity (IFC), air-to-ground network (ATG), airplane to ground station link, and continuous connection with a displacing aircraft have bolstered the growth of the millimeter-wave technology market.

Low Penetration Power through Objects Hampers the Market

Low penetration of mm-wave technology through the obstacles has limited the growth of the market. The inability of the high-frequency signals to penetrate through the walls and provide an effective network hampers the market. The extremely short wavelength of this technology allows the data to be transferred faster but at a very short distance. It also raises the need to deploy multiple base stations, eventually increasing the cost incurred.

Millimeter Wave Technology Market: Segmentation

Telecommunication Equipment Segment Caters to the Largest Market Share

The telecommunication equipment segment caters to the largest share, owing to the utilization of the 5G backhaul, along with the mm-wave technology. Further, its increased deployment in the enclosed spaces, such as malls, airports, colleges, and public places, has bolstered the growth of the market growth. The substantial utilization and the high-frequency mm-wave technology for the radar and communication segment have strengthened the military and the aerospace industry vertical.

Unlicensed Frequency Millimeter Wave Segment to Grow with a Higher CAGR during the Forecast Period

The unlicensed frequency millimeter wave segment caters to the maximum share, owing to the tremendous number of plans offered by the leading telecommunication companies that are yet in the initial stage. Further, most customer’s show a preference towards the license frequency millimeter wave, owing to the security features offered and increased adoption by the consumer for personal use. Thus, it is anticipated to grow with a higher CAGR during the forecast period.

Regional Overview

North America's Market to Be Driven by Collaboration Activities of the Key Players

North America dominates the millimeter wave technology market, owing to the presence of key players, such as Axxcss Wireless Solutions, Keysight Technologies, Eravant, Aviat Networks, L3HARRIS, Millimeter Wave Products, and rapid adoption of advanced technology. For instance, as per the 'CISCO Annual Internet Report, 2018', the number of internet users in the region is expected to be 92% of the total population by 2023. The report also states that the region will have 75% of the devices connected to a wired or wireless network while the remaining will be a mobile-connected network.

Most of the telecommunication companies of the U.S. have been investing in their research and development to deploy this technology. For instance, Qualcomm collaborated with Corning Inc. on February 20, 2020, to develop enterprise 5G mmWave infrastructure systems. In order to provide inexpensive and easy-to-install 5G-ready networks indoors, Qualcomm will provide its 5G and mm-wave technologies with Corning's industry-proven small cell experience.

Favorable Initiatives by the Government of South Korea and China to Bolster Asia-Pacific's Market Growth

The Asia-Pacific region is anticipated to exhibit the fastest growth, owing to the increasing number of smartphone devices and internet connections and favorable government initiatives in countries such as Japan, South Korea, and China. As stated in the work plan of the Ministry of Industry and Information Technology, China is anticipated to propose a 5G mm-wave frequencies usage plan and deploy 50,000 5G base stations in over 50cities of the country. Further, in the ICT Ministry plan 2018, South Korea aimed to launch 45,000next-generation 5G stations by 2021. The telecom operators of the country also sought to commercialize an ultrafast millimeter-wave 5G network by the end of this year.

Key Players

  • Axxcss Wireless Solutions (the U.S.)
  • Keysight Technologies (the U.S.)
  • NEC Corporation (Japan)
  • Eravant, (the U.S.)
  • Siklu Communication (Japan)
  • Aviat Networks (the U.S.)
  • Farran Technologies (Ireland)
  • L3HARRIS (the U.S.)
  • Smiths Group (the U.K.)
  • Millimeter Wave Products (the U.S.)
  • Millivision Technologies (the U.S.)
  • Vubiq Networks (the U.S.)
  • Elva-1 (Latvia)
  • Proxim Wireless (the U.S.)
  • Cable-free (the U.K.)
  • Fastback Networks (the U.S.)
  • Quinstar Technology (the U.S.)
  • Lightpointe Communications, Inc. (Lightpointe Wireless) (the U.S.)
  • Trex Enterprises Corporation (Trex) (the U.S.)
  • Nuctech (China)
  • OSI Systems (the U.S.)

Recent Developments

  • In April 2019, NEC and Ceragon, an organization that offers creative wireless backhaul products, partnered to develop microwave and millimeter-wave spectrum technology and applications for 5 G wireless backhaul
  • In March 2019, Smiths Detection business division added two scanners with ECAC standard 3.1 for its CTX 9800 DSi to carry luggage explosives detection devices. Additional versatility and efficiency would be supported when ensuring the highest level of protection, thereby strengthening the product portfolio

Millimeter Wave Technology Market: Segmentation

By Component

  • Antennas and transceiver components
  • Frequency sources and related components
  • Communication and networking components
  • Imaging components
  • RF and radio components
  • Sensors and controls
  • Interface components
  • Power and battery components

By Product

  • Scanner systems
  • Radar and satellite communication systems
  • Telecommunication equipment

By Frequency Band

  • 24–57 GHz
  • 57–86 GHz
  • 86–300 GHz

By License Type

  • Light licensed frequency millimeter wave
  • Unlicensed frequency millimeter wave
  • Fully licensed frequency millimeter wave

By Application

  • Mobile and telecom
  • Consumer and commercial
  • Healthcare
  • Industrial
  • Automotive and transportation
  • Imaging

By Region

North America

  • The U.S.
  • Canada
  • Mexico


  • The U.K.
  • Italy
  • France
  • Spain
  • Germany
  • The Rest of Europe

The Middle East and Africa (MEA)

  • Saudi Arabia
  • Turkey
  • Egypt
  • South Africa
  • The Rest of MEA


  • India
  • China
  • Japan
  • Australia
  • South Korea
  • The Rest of Asia-Pacific

South America

  • Columbia
  • Brazil
  • Chile
  • Peru
  • Argentina
  • The Rest of South America

Frequently Asked Questions (FAQs)

The millimeter wave technology market is expected to grow from USD 1 billion in the year 2019 to USD 4.8 billion in 2027, with a CAGR of 19%.
The surge in demand for increased broadband and mobile internet utility speed, increase in the utilization and the sophistication of the connected devices are the key factors expected to drive Millimeter Wave Technology Market during the forecast period.
North America is expected to hold the highest market share in Millimeter Wave Technology Market.
Axxcss Wireless Solutions, Keysight Technologies, NEC Corporation, Eravant, Siklu Communication, Aviat Networks, Farran Technologies, L3HARRIS, Smiths Group, Millimeter Wave Products are the top players in Millimeter Wave Technology Market.
In 2019 Global Millimeter Wave Technology Market was valued at USD 1 billion.
Telecommunication Equipment Segment is expected to be the leading segment in Millimeter Wave Technology Market during the forecast period.
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