Millimeter Wave Technology Market Growing Demand 2026

According to the report, the global millimeter wave technology industry garnered $220.5 million in 2018 and is estimated to reach $3.25 billion by 2026, growing at a CAGR of 40.4% from 2019–2026. The report also provides a detailed analysis of the drivers & opportunities, top investment pockets, top winning strategies, market size & estimations, competitive landscape, and wavering market trends.

Increase in the testing of 5G technology in U.S., Japan, South Korea, and China, rising demand for smart devices, and surge in use of millimeter-wave technology-based scanner systems in airports fuel the growth of the millimeter wave technology market

Drivers, restraints, and opportunities-

Rise in the testing of 5G technology in the U.S., Japan, South Korea, and China, growing demand for smart devices and surge in use of millimeter-wave technology-based scanner systems in airports drive the growth of the millimeter wave technology market.

The fully licensed Frequency millimeter-wave segment held the largest share in 2018-

Based on the license type, the fully licensed frequency millimeter wave segment contributed to more than four-fifths of the global millimeter wave technology market revenue in 2018 and is anticipated to retain its top status throughout 2019–2026. Increasing adoption of fully licensed frequency has fueled the growth.

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Asia-Pacific, followed by North America, to rule the roost in terms of revenue-

Based on geography, the Asia-Pacific region, followed by North America, generated the lion's share in 2018, holding nearly two-fifths of the global millimeter wave technology market. High demand for bandwidth-intensive application and need for millimeter-wave solutions in the telecom sector have increased the usage of the technology in the region.

Leading market players-

• L3 Technologies, Inc.
• Keysight Technologies
• Siklu Communication
• BridgeWave Communications (REMEC Broadband Wireless Networks)
• LLC, SAGE Millimeter, Inc.
• NEC Corporation
• CableFree: Wireless Excellence
• Farran Technology
• Millimeter Wave Products Inc.
• E-Band Communications