Millimeter Wave Technology Market
global Millimeter Wave Technology Market reached US$ 2.8 Billion in 2023 and is expected to reach US$ 13.7 Billion by 2031, growing with a CAGR of 8.2% during the forecast period 2024-2031.
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Latest M&A Activity
VIAVI Solutions acquired Spirent Communications Plc’s High-Speed Ethernet and Network Security business for $410 million, boosting its millimeter wave testing and network validation capabilities crucial for mmWave deployments.
Qorvo acquired Anokiwave for $31 million, securing advanced beamforming IP essential for mmWave communications, while Keysight Technologies committed $1.46 billion to acquire Spirent, enhancing test automation across sub-THz and mmWave domains.
Key Players:
Keysight Technologies, Anritsu Corporation, Rohde & Schwarz GmbH & Co KG, NEC Corporation, L3Harris Technologies, Inc., Smiths Interconnect, Siklu Communication Ltd., E-Band Communications, LLC, Farran Technology Ltd. and SAGE Millimeter, Inc.
Growth Forecast Projected:
The Global Millimeter Wave Technology Market is anticipated to rise at a considerable rate during the forecast period, between 2025 and 2032. In 2024, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
Research Process:
Both primary and secondary data sources have been used in the global Millimeter Wave Technology Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.
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Key Segments:
By Product: (Scanner Systems, Radar and Satellite Communications Systems)
By Frequency Band: (24 GHz to 57 GHz, 57 GHz to 86 GHz, 86 GHz to 300 GHz, Others)
By License Type: (Light Licensed Frequency Millimeter Wave, Unlicensed Frequency Millimeter Wave, Fully Licensed Frequency Millimeter Wave)
By Components: (Antennas and Transceiver Components, Frequency Sources and Related Components, Communication and Networking Components, Imaging Components, Sensors and Controls, Others)
By Application: (Mobile and Telecom, Consumer and Commercial, Healthcare, Industrial, Defense, Others)
Regional Analysis for Market:
⇥ North America (U.S., Canada, Mexico)
⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)
⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)
⇥ South America (Colombia, Brazil, Argentina, Rest of South America)
⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Benefits of the Report:
Chapter 1: Sets the stage by outlining the report’s coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.
Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.
Chapter 3: Offers an in-depth look at the competitive landscape among Millimeter Wave Technology producers, including revenue shares, strategic moves, and recent mergers and acquisitions.
Chapter 4: Presents comprehensive profiles of the market’s key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.
Chapters 5 & 6: Analyze Millimeter Wave Technology revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.
Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.
Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.
Chapter 9: Provides a thorough review of the industry’s supply chain mapping out both upstream and downstream activities.
Chapter 10: Concludes with a summary of the report’s key findings and highlights the most critical takeaways for industry stakeholders.
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Product Launches and Innovations
Broadcom launched the Tomahawk Ultra, an 800G Ethernet switch chip optimized for AI and HPC networks, featuring ultra-low latency critical for millimeter wave data transmissions supporting next-gen digital infrastructure.
Sivers Semiconductors partnered with Tachyon Networks to provide TRB02801 beamforming transceivers enabling affordable, high-speed millimeter wave fixed wireless access and multi-gigabit deployments, supporting urban and enterprise environments.
QuinStar Technology expanded its W-band microwave product line, contributing components essential for millimeter wave satellite communication and radar systems
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