Sign in Subscribe

What is the size of the Telecom Millimeter Wave Technology Market?

kalpesh rajput

• 4 min read
What is the size of the Telecom Millimeter Wave Technology Market?

Telecom Millimeter Wave Technology Market to Reach US$ 3.13 Billion by 2029; High-Speed 5G and Data Demand Driving 20.78% CAGR Growth

A new comprehensive market research report reveals that the Global Telecom Millimeter Wave Technology Market is set for explosive growth over the coming decade. Valued at US$ 0.83 Billion in 2022, the market is projected to expand at a robust Compound Annual Growth Rate (CAGR) of 20.78% during the forecast period of 2023 to 2029. By the end of 2029, the market size is expected to reach an impressive US$ 3.13 Billion.

This extensive study analyzes the transformative impact of 5G deployment, the surge in data-intensive applications, and the strategic shifts in telecommunications infrastructure that are propelling the industry forward.

The 5G Revolution: Redefining Connectivity

The "Telecom Millimeter Wave (mmWave) Technology Market" is at the forefront of the next generation of wireless communication. mmWave technology utilizes the spectrum between 30 GHz and 300 GHz (wavelengths from 1mm to 10mm) to deliver ultra-high data speeds and low latency.

With cellular data traffic estimated to increase by 40% to 70% year-over-year, current networks are facing a capacity crunch. The report highlights that demand for cellular network capacity could increase by as much as 1000 times current levels in the coming decades. With over 50 billion connected devices in 2022, mmWave is the critical technology enabling the "Beyond 4G" and 5G ecosystems to meet this formidable demand.

Key Market Dynamics: Drivers and Challenges

The report identifies several high-impact factors influencing the market trajectory:

1. Primary Growth Driver: The Bandwidth Boom The insatiable demand for high-bandwidth applications—ranging from 8K video streaming and Augmented Reality (AR) to autonomous vehicle communication—is the primary engine of growth. Governments and telecom giants worldwide are actively investing in and funding the development of cellular telecommunication technology to support these data-heavy ecosystems.

2. Infrastructure Investment: Telecommunication equipment manufacturers are ramping up production of chipsets, wireless infrastructure, and networking devices. The report notes that about 80% of revenue in the product segment is generated from wireless communications, underscoring the shift away from traditional line-based systems.

3. Technical Challenges & Restraints: Despite the bullish outlook, the report candidly addresses the physical limitations of mmWave technology. High-frequency signals struggle to penetrate obstacles like trees, buildings, and atmospheric moisture. However, the industry is countering this with advanced Beamforming and Small Cell deployment strategies, which are creating new opportunities for market players.

Segment Analysis: Where is the Investment Flowing?

Component Insight: Antennas & Transceivers Lead In terms of components, the Antennas & Transceiver Components segment holds the maximum market share. Service providers are heavily focused on developing innovative transceiver products to handle high-speed data transfer.

  • Imaging Components: Projected to grow at a significant CAGR.
  • RF & Radio Components: Essential for signal processing, showing steady growth.
  • Sensors & Controls: Critical for the automation of 5G networks.

Product Insight: Telecom Equipment Dominates By product, Telecommunication Equipment held the major market share in 2022 and is expected to retain its dominance. This segment includes cell phones (which account for a major share), wireless infrastructure, and networking devices. The shift towards "Smart" infrastructure is driving the replacement of legacy equipment with mmWave-compatible hardware.

Frequency Band Analysis: The market is segmented into 24–57 GHz, 57–86 GHz, and 86–300 GHz bands. The E-Band (60-90 GHz) is gaining particular traction for wireless backhaul solutions due to its ability to support multi-gigabit speeds comparable to fiber optics.

Regional Outlook: North America Leads, APAC Accelerates

North America (Dominant Market Share): North America held the major share of the Millimeter Wave Technology Market in 2022 and is expected to remain the fastest-growing region. The region's dominance is driven by the early and aggressive rollout of 5G networks by major US telecom operators. The highly competitive market landscape is forcing operators to adopt cutting-edge technology to maintain market position.

Asia Pacific (Strategic Growth Hub): The Asia Pacific region (China, Japan, South Korea, India) is a powerhouse for manufacturing and deployment. The report identifies the region as a future hotspot due to the sheer volume of mobile subscribers and government-led smart city initiatives.

Europe & MEA: Europe follows closely, driven by industrial automation (Industry 4.0). The Middle East and Africa (MEA) is highlighted as an emerging market with significant potential for growth in the latter half of the forecast period.

Competitive Landscape: Strategic Moves

The report profiles sixteen key players who are shaping the industry. The competitive landscape is characterized by strategic mergers, product innovations, and regional expansions.

Key Players Profiled:

  • BridgeWave Communications
  • E-Band Communications
  • Siklu Communication Ltd
  • NEC Corporation
  • L3 Technologies, Inc.
  • Smiths Group Plc.
  • Keysight Technologies, Inc.
  • Aviat Networks, Inc.
  • Sage Millimeter, Inc.
  • Farran Technology Ltd.
  • Proxim Wireless
  • QuinStar Technology Inc.
  • LightPointe Communications, Inc.
  • Renaissance Electronics & Communications (HXi)
  • ELVA-1
  • Wireless Excellence Ltd.

The report analyzes the manufacturing environment in each region, focusing on supply chain dynamics, raw material availability, and labor costs to provide a holistic view of the operational landscape.

Research Methodology

This market research report is the result of rigorous analysis using PORTER’s Five Forces, PESTEL, and SVOR frameworks. It combines:

  • Primary Research: Interviews with industry leaders and stakeholders.
  • Secondary Research: Analysis of patent filings, annual reports, and technical whitepapers.
  • Impact Analysis: A dedicated section on the micro-economic factors and government policies affecting manufacturing and demand.

Key Questions Answered in the Report:

  1. What is the projected value of the market by 2029?
    • The market is expected to reach US$ 3.13 Billion.
  2. What was the market size in 2022?
    • The market was valued at US$ 0.83 Billion.
  3. Which region dominates the market?
    • North America currently holds the largest share, with Asia Pacific following as a key growth engine.
  4. What are the key driving factors?
    • The exponential rise in data traffic and the global rollout of 5G infrastructure.

Conclusion

For investors, telecom operators, and equipment manufacturers, the Global Telecom Millimeter Wave Technology Market represents a frontier of immense opportunity. As the world moves towards a hyper-connected future, this report serves as an essential guide to navigating the complexities and capturing the value of the mmWave revolution.

Sign up for more like this.

Enter your email
Subscribe