Jul 19, 2017   SOURCE: PR NewsWire

At 35+% CAGR, Millimeter Wave Technology Market Potentially Worth $2,302.6 Million by 2023 Led by North America

PUNE, India, June 19, 2017 /PRNewswire-iReach/ -- The global millimeter wave technology market for mobile and telecom applications held the largest market share in 2016. This is attributed to the need for high bandwidth to serve new and existing subscribers using extensive mobile data. Also, the components used for infrastructure in the testing of the 5G technology, primarily by AT&T and Verizon, are based on millimeter wave technology. Complete report on "Millimeter Wave Technology Market" spread across 179 pages, profiling 15 companies and supported with 67 tables and 55 figures is now available at http://www.rnrmarketresearch.com/millimeter-wave-mm-wave-market-by-technology-components-frequency-imaging-radio-products-mm-scanners-mm-radars-mm-macrosmall-cell-backhaul-applications-telecommunication-healthcare-market-report.html .

Telecommunication equipment market is expected to witness significant growth between 2017 and 2023. The market for telecommunication equipment is expected to grow significantly during the forecast period owing to the growing use of millimeter wave technology-based components in the 5G infrastructure, which is anticipated to be commercialized in the later phase of the forecast period. The telecom infrastructure primarily includes small cell mobile backhaul, which is a key product in telecom equipment.

North America held the largest market share in 2016 and is expected to exhibit considerable growth during the forecast period. North America is expected to hold the largest share of the millimeter wave technology market during the forecast period. The increasing demand from mobile and telecom, imaging, military, defense, and aerospace application is expected to drive the growth of the millimeter wave technology market in North America. Research & development as well as beta testing of autonomous vehicles, primarily in the US, is expected to provide growth avenues in the region.

The global millimeter wave technology market is expected to grow at a CAGR of 35.2% between 2017 and 2023. The growing mobile data traffic and demand for bandwidth-intensive applications, increasing usage of millimeter wave in small-cell backhaul networks, rising demand for innovative applications in radar and security, and high potential for the use of millimeter wave technology in consumer electronics are among the major factors driving the growth of this market. However, the increase in the number of towers and other equipment leads to large-scale deforestation also result in high fuel consumption and radiation, thus impacting the environment. This is expected to limit the market growth over the next few years.

This research study is obliging for following audience:

    1. End users of the millimeter wave technology
    2. Millimeter wave providers
    3. Technology providers
    4. Research organizations and consulting companies
    5. Associations, organizations, forums, and alliances related to the
       millimeter wave technology
    6. Venture capitalists, private equity firms, and start-up companies

The report includes the competitive landscape of the market for prominent players including Bridge Wave Communications, Inc. (US), E-Band Communications, LLC (US), Keysight Technologies, Inc. (US), NEC Corp. (Japan), SAGE Millimeter, Inc. (US), Siklu Communication, Ltd. (Israel), Aviat Networks, Inc. (Singapore), Farran Technology Ltd. (Ireland), Millimeter Wave Products, Inc. (US), Millivision Technologies (US), Vubiq Networks, Inc. (US) Smiths Group Plc. (UK), L3 Technologies, Inc. (US), ELVA-1 (Sweden), and Proxim Wireless (US).Download PDF Brochure "Millimeter Wave Technology Market by Product (Scanner Systems, Telecommunication Equipment), Frequency Band, License Type, Application (Mobile and Telecom, Military, Defense, and Aerospace, Automotive), and Geography - Global Forecast to 2023" research report at http://www.rnrmarketresearch.com/contacts/request-sample?rname=88489 .

In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (52%), Tier 2 (21%) and Tier 3 (27%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-Level (33%) and Manager Level (67%) from various key organizations operating in the global millimeter wave technology market. The primary interviews were conducted worldwide covering regions such as North America (40%), Europe (18%), Asia-Pacific (27%), and RoW (15%).

Research Coverage: This research report categorizes the global millimeter wave technology market on the basis of product, frequency band, license type, application, component, and geography. The report discusses the major drivers, restraints, challenges, and opportunities pertaining to the market; value chain analysis; and market ranking analysis.

On a related note, another research titled 5G Technology Market and Its Impact on Communication and IoT Market says, the total number of mobile (cellular) subscriptions for 5G is expected to increase from 35.0 million by 2021 to 89.0 million by 2022. North America would be the early adopter of 5G technology. Applications such as virtual reality, autonomous driving, ultra-high-definition video streaming, and 4K video streaming would be highly benefited with 5G. Companies such as Cisco (U.S.), Ericsson (Sweden), SK Telecom (South Korea), Korea Telecom (South Korea), Nokia Networks (Finland), Samsung (South Korea), Qualcomm (U.S.), Intel (U.S.), NEC Corporation (Japan), Huawei (China), Verizon (U.S.), AT&T (U.S.), T-Mobile USA, Inc., LG (South Korea), China Mobile (China) have been profiled in this 164 pages research report available at http://www.rnrmarketresearch.com/5g-technology-market-and-its-impact-on-communication-and-iot-market-r-d-spending-and-trial-investments-technology-requirements-future-roadmap-spectrum-consideration-key-strategies-regulatory-landscape-and-app-analysis-market-report.html .

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