Millimeter Wave Technology Market Size Worth $5.13 Billion By 2029 | CAGR: 22.5%

The global millimeter wave technology market size is expected to reach USD 5.13 billion by 2029 according to a new study by Polaris Market Research. The report “Millimeter Wave Technology Market Share, Size, Trends, Industry Analysis Report, By End-Use (Mobile & Telecom, Healthcare, Commercial, Industrial, Consumer, Automotive, Defense, Others); By Product; By Frequency Band; By Region; Segment Forecast, 2021 - 2029” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The MMW technology has enabled the radar tech for automotive & transport applications. It implies the technique in radio-frequency modules which renders an effective radar performance. These emerging applications of MMW across the automotive and healthcare industries are therefore expected to fuel the demand for MMW devices. As a result, the global market is anticipated to experience a notable swift over the estimated time.

Moreover, the ability of millimeter waves to penetrate through almost all the materials including concealed solid as well as liquid objects have made the technique extremely reliable from the security perspective. Therefore, resulting in the heavy adoption of MMW scanners at a fast pace across the security sector, in turn helping the overall MMW technology market to flourish significantly.

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A few important parameters to be considered to achieve better MMW imaging include careful selection of the targets depending upon the transmission & reflecting principles, illumination, distance, detector type, and image processing. Radars and satellite communication systems are another major product based on the millimeter wave technique. The Military & defense sector was one of the initial sectors to implement small, high gain antennas that operate at high frequency in the MMW radar aircraft.

Recent years have been witnessing an increasing interest in circuits and communication systems across the educational as well as industrial sectors. The research and advancements have led to the building up of several innovations in the MMW technology and developing various components implementing the technique in the market.

Polaris Market Research has segmented the millimeter wave technology market report on the basis of product, component, frequency band, application, and region:

Millimeter Wave Technology, Product Outlook (Revenue – USD Million, 2017 - 2029)

• Telecommunication Equipment
• Imaging & Scanning Systems
• Radar & Satellite Communication Systems

Millimeter Wave Technology, Component Outlook (Revenue - USD Million, 2017 - 2029)

• Antennas & Transceivers
• Amplifiers
• Oscillators
• Control Devices
• Frequency Converters
• Passive Components
• Others

Millimeter Wave Technology, Frequency Band Outlook (Revenue - USD Million, 2017 - 2029)

• V-Band
• E-Band
• Others

Millimeter Wave Technology, Application Outlook (Revenue - USD Million, 2017 - 2029)

• Telecommunications
• Military & Defense
• Automotive & Transport
• Healthcare
• Electronics & Semiconductor
• Security

Millimeter Wave Technology, Regional Outlook (Revenue - USD Million, 2017 - 2029)

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • Singapore
  • South Korea
• Rest of World
  • Brazil
  • Rest of South America
  • Middle East & Africa