Deerfield Beach, FL -- (SBWIRE) -- 09/12/2016 -- A millimeter (MM) wave forms the highest band of electromagnetic wave called radio wave which operates at a frequency ranging between 20 GHz -300 GHz. In order to make the technology more feasible and useful, frequency forms one of the deciding factors, which makes the MM wave technology suitable for various applications in different sectors. MM wave technology has widespread applications in sectors such as mobile & telecommunication, consumer & commercial and healthcare.

Rising volume of mobile data traffic and high demand for applications consuming large bandwidth are the key factors driving the growth of the MM wave technology market. Increasing applications of MM wave for networks related with small cell backhaul along with high demand for high-end uses in the radar technology are the other factors fostering the market. However, limited range of MM waves along with some environmental issues is a key market restraint. Furthermore, fragmented and non-uniformity in licensing of MM waves technology is a major market challenge. The emergence of 5G technology would offer great opportunities for the growth of the MM wave market.

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The report segments the MM wave technology market on the basis of products, license, frequency band, component, applications and geography. On the basis of products, the market is segmented into Scanner Systems, Radar & Satellite Communication Systems and Telecommunication Equipment. On the basis of Frequency Band, the market is segmented into bands between 8 GHz-57 Ghz, 57 GHz-86 Ghz, and 86 GHz-300 Ghz. On the basis of license, the market is segmented into light licensed frequency mm wave, unlicensed frequency mm wave, and fully licensed frequency mm wave. On the basis of applications, the market is segmented into mobile & telecom, consumer & commercial, healthcare, industrial, automotive & transportation, military, defense, and aerospace (MDA), and others.

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On the basis of components, the market is segmented into antennas & transceiver components, frequency sources and related components, communication & networking components, imaging components, RF & radio components, sensors and controls, interface components, power & battery components, and other components. On the basis of geography, the market is segmented into North America, Europe, Asia-Pacific and LAMEA. Key market players profiled in the report are BridgeWave Communications, Inc., E-Band Communications, LLC, Siklu Communication Ltd., SAGE Millimeter, Inc., and Keysight Technologies, Inc., among others.