Pune, India -- (SBWIRE) -- 03/23/2018 -- Millimetre Wave Technology Market - Overview

The millimetre wave technology market is growing at the rapid pace with a double digit CAGR. The need for bandwidth-intensive applications, particularly required in the consumer electronic products, such as smartphones and wearable electronics. These products requires high-bandwidth & high-speed internet across the telecom sector. The fibre-optic cables are considered as prominent medium for the transmission of data across the telecom industry. However, the complication associated with the fibre optics technology is the difficulties in the installation of the network and cost. Thereby, a millimetre wave technology is gaining demand as an alternative to fibre-optics medium. According to a recent study report published by the Market Research Future, the global Millimetre Wave Technology Market is booming and expected to gain prominence over the forecast period. The global Millimeter Wave Technology market is expected to grow at USD$ ~2,112.2 Million by 2023, at ~36.1% of CAGR between 2017 and 2023.

The key aspects driving the market include the growing mobile data traffic with bandwidth-dependant applications, wave technology usage in small-cell backhaul network, need for innovative application for the radar and security products, and rising use in consumer electronics.

By end-user segment, the telecommunication sector accounts for major share. The adoption of wave technology in communication equipment to drive 5G speed, is the major factor boosting the market. Other factors such as the increasing mobile subscribers, resulting in the demand for efficient mobile network solutions that can provide services to a large user base without degrading the connection speed.

Industry News

February 10, 2016 - NEC Corporation a prominent player in millimetre wave technology, announced the launch of the new communication equipment known as iPASOLINK EX, an ultra-compact radio communication system that is able to deliver wireless transmission capacity of 10Gbps. It is said that, this transmission capacity is same to that of optical fibres. Thus the new communication system is ideal for its usage in mobile networks for high-speed services.

February 14, 2018– NEC Corporation makes a remarkable innovation in the field of telecommunication sector. By developing low power consumption circuit technologies that improvise installation flexibility. It has also reduced the size of millimetre-wave radio frequency units for fifth-generation (5G) mobile connectivity speed.

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Millimetre Wave Technology Market - Competitive Analysis

The market of millimetre wave technology market appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.

E-Band Communications, LLC (U.S.), Farran Technology Ltd. (Ireland), Millimeter Wave Products, Inc. (U.S.), BridgeWave Communications, Inc. (U.S.), E-Band Communications, LLC (U.S.), Keysight Technologies, Inc. (U.S.), NEC Corp. (Japan), SAGE Millimeter, Inc. (U.S.), Millitech, Inc. (U.S.), Millivision Technologies (U.S.), Vubiq Networks, Inc. (U.S.), Smiths Group Plc. (The U.K), L3 Technologies, Inc. (U.S.), Elva-1 (Sweden) and Siklu Communication, Ltd. (Israel) are some of the prominent players at the forefront of competition in the global millimetre wave technology market and are profiled in MRFR Analysis.

Millimetre Wave Technology Market - Segmentation

Segmentation by Delivery Product: Comprises radar communication systems, satellite communication systems, telecommunication equipment and others.

Segmentation by License Type: Comprises light licensed frequency, unlicensed frequency, fully licensed frequency and others.

Segmentation by Frequency Band: Comprises Band between 30 GHz and 57 GHz, Band between 57 GHz and 86 GHz, Band between 86 GHz and 300 GHz and Others.

Segmentation by End-User: Comprises Automotive and Aerospace, IT & Telecommunication Consumer & Commercial, Healthcare, Automotive and Transportation, Government and Defence and Others.

Segmentation by Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World.

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Millimetre Wave Technology Market - Regional Analysis

North America region accounts for highest market share in millimetre wave technology market owing to presence of major players in the region and adoption of millimetre wave technology solution by small and large enterprises for connecting devices in the short range. The adoption of millimetre technology for the testing of autonomous and semi-autonomous vehicles is also expected to fuel the millimetre wave technology market. Asia Pacific region is expected to be growing at the highest CAGR. The latest trend in the Asia Pacific market is the emergence of 5G through millimetre wave technology. The millimetre technology is required for the utilization of more bandwidth to deliver faster, higher-quality video, and multimedia content and services.

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