Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Telecom Millimeter Wave Technology market.
Trusted Business Insights presents an updated and Latest Study on Telecom Millimeter Wave Technology Market 2020-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Telecom Millimeter Wave Technology market during the forecast period (2020-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Report Overview: Telecom Millimeter Wave Technology Market
The global telecom millimeter wave technology market size was valued at USD 462.2 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 26.9% from 2021 to 2027. The increasing R&D activities in the Millimeter Wave (MMW) technology and the continuously rising demand for bandwidth-intensive applications are anticipated to propel the market growth. The need for bandwidth-intensive applications is arising particularly from consumer electronic products and mobile devices, such as smartphones and wearable electronics. Data-intensive services, such as video streaming, video conferencing, media exchange over the internet, and high-speed online gaming, are expected to increase the demand for high-bandwidth, fostering the demand for adopting telecom MMW technology.
Furthermore, the next generation of wireless communication is at its beginning with the approaching time. The telecom world is implementing several technologies to verify precisely which frequencies 5G would be deployed. Millimeter Wave is anticipated to be the key enabler for deploying 5G with 5G fixed wireless. The technical requirements of 5G, such as peak data rate i.e., above 10 Gbps, 1 msec latency rate, cell edge data rate of 100 Mbps, and so on, are the driving factors predicted to propel the adoption of MMW technology in the telecom sector.
The large amount of adjoining bandwidth available above 24 GHz, is necessary to fulfill data throughput requirements for the 5G services. The research and lab trials have proved that the millimeter-wave can deliver multi-gigabit per second data rates. Besides, the competitive environment is upbringing latest innovative approaches such as using MMW in the downlink and sub-6 GHz spectrum in the uplink. Thus, with these innovative approaches, the need for power-hungry MMW transmitters is being eliminated in the 5G devices; in turn, lowering the cost and power consumption.
The support and momentum for millimeter-wave technology to allow 5G use cases are strong enough despite the barriers and challenges in the application of technology. Service providers, chipset manufacturers, network infrastructure vendors, and stakeholders from all fronts, are undertaking combined efforts to overcome the challenges associated with high-frequency MMW technology.
Frequency Band Insights: Telecom Millimeter Wave Technology Market
E-band led the telecom millimeter wave technology market and accounted for more than 73.6% revenue share in 2019. Rising application of E-band frequency is anticipated to drive the growth of the segment. E-band frequencies hold a prominent application in the telecommunication equipment segment. Whereas, the V-band frequencies range between 40 GHz to and 70 GHz, and the millimeter waves of these bands are particularly used in military and defense applications. In addition, the V-band frequencies are extensively used in radar and satellite communications.
The global telecommunication industry is growing extensively across the globe and is likely to keep growing at a rapid pace with the approaching years owing to the rising demand from various applications such as consumer electronics, smart education, smart home, automation industry, and so on. Therefore, the E-band frequency segment is in the telecom MMW industry is projected to intensify notably over the forecast period 2021-2027.
Application Insights: Telecom Millimeter Wave Technology Market
Civil segment led the market and accounted for more than 84.6% share of the global revenue in 2019. The civil segment comprises various applications such as telecommunications, automotive and transport, healthcare, and electronics, and semiconductor applications. The growth rate of civil segment is expected to be high in the coming years owing to the increased demand for high-speed data transfer and communication arising from the residential and the commercial sectors such as data centers and IT offices.
The use of telecom millimeter wave technology in military applications is expected to rise during the forecast period. The military segment is projected to witness fastest growth rate on account of increasing adoption of MM modules and sensors in various military and defense applications. The technology is being widely adopted at international airport authorities on account of the global terrorism issues. This overall scenario is expected to propel the growth of the market in the coming future.
Licensing Type Insights: Telecom Millimeter Wave Technology Market
The light-licensed spectrum led the market and accounted for more than 69.35% share of the global revenue in 2019. The high market share of the light-licensed spectrum is due to its lower cost and it is simple to manage. Federal agencies have allocated the E band (70/80 GHz) for public use with few light licensing requirements. The carriers can quickly get these licenses. All wireless technologies use radio waves to receive and transmit information. The wireless spectrum is bifurcated into various frequency bands so that many different technologies can use the radio waves simultaneously. By licensing these frequencies, it helps the government to ensure noninterference of wireless operators with each others transmissions.
The unlicensed spectrum is also called a license-exempt spectrum, which uses radio waves without any individual authorization. Many mobile operators launched carrier Wi-Fi and 4G in this spectrum. Moreover, 5G technology will likely launch in the unlicensed or light-licensed spectrum. Whereas federal agencies auction a fully licensed spectrum, and its owner exclusively uses it. This spectrum is a top priority in the telecom industry as it provides a higher quality of service, mobility, and control.
Regional Insights: Telecom Millimeter Wave Technology Market
North America lead the market and accounted for over 39.0% share of global revenue in 2019. This high market share of the region is attributable to regions tendency of adapting to modern technologies. Countries such as the U.S. and Canada are one of prominent and early adopters of the upcoming and emerging technologies. Thus, the factors are creating opportunities for telecom MMW technology in different applications. Additionally, the regions intensifying demand for Carrier Ethernet services in the metro areas is anticipated to drive the overall regional market.
However, the MMW technology market in the Asia Pacific region is anticipated to witness notable growth over the forecast period. The Asia Pacific region is poised to exhibit highest CAGR of more than 42.0% over the forecast period. This rapid growth of the technology in the region can be accredited to the developments and upgradations being carried out in its telecom infrastructures. Further, the installation of new telecom equipment, based on the millimeter wave technology, is further expected to drive the overall market across the region, at a significant pace.
Key Companies and Market Share Insights
The service providers in the telecom industry are intensely focusing on improvising the technology to meet the demands of the increasing bandwidth applications and high-speed internet requirements arising from the bandwidth-intensive applications. In October 2018, LightPointe Communications, Inc. launched AireLink 60 10 Gig, a point to point backhaul radio, featuring a high capacity of 60GHz and 10 Gbps of throughput. The newly launched product is a cost-effective alternative for licensed E-band radios. Some of the prominent players in the telecom millimeter wave technology market include:
Key companies Profiled: Telecom Millimeter Wave Technology Market Report
- Aviat Networks, Inc.
- Siklu Communication Ltd.
- E-band Communications LLC
- Sage Millimeter, Inc.
- LightPointe Communications, Inc.
- Bridgewave Communications, Inc.
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Trusted Business Insights has segmented the global telecom millimeter wave technology market report based on frequency band, licensing type, application, and region:
Telecom MMW Technology Frequency Band Outlook (Revenue, USD Million, 2016 – 2027)
- Other Frequency Bands
Telecom MMW Technology Licensing Type Outlook (Revenue, USD Million, 2016 – 2027)
Telecom MMW Technology Application Outlook (Revenue, USD Million, 2016 – 2027)
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