The Global Millimeter Wave Equipment Market is Projected to Reach US$4.7 Billion by 2024

Increasing Data Consumption Drives the Global Millimeter Wave Equipment Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Millimeter Wave Equipment market. The global Millimeter Wave Equipment market is projected to reach US$4.7 billion by 2024, driven by increasing data consumption around the world as well as proliferation of high speed mobile data networks.

Millimeter waves are a part of the electromagnetic spectrum falling in the frequency range of 30GHZ-300GHz. Initially deployed for defense and research based applications, the technology today finds use in range of applications including automotive radars, airport scanners and surveillance systems, doppler radars used in weather forecasting applications, radio broadcasting, satellites, cell phone transmissions, and telecommunication links among others. The evolution of next generation 5G networks and the ongoing LTE-Advanced (LTE-A) network deployment and growing need for backhaul solutions that offer lowest total cost of ownership to carriers, while at the same time featuring high scalability to address exploding data traffic offers a strong business case for millimeter wave equipment. The millimeter-wave equipment, at present primarily operates in the unlicensed E- band 60GHz, licensed E-band 70-90GHz and W-band 75-110GHz. Such equipment finds increased use in LTE macrocell backhaul and small cells that account for major portion of the unlicensed 60GHz band.

As more and more new Internet services are being introduced, there is a growing need for overall infrastructure to be updated in order to accommodate increasing bandwidth speed. Mm-waves are also used in high data rate links as well as personal area networking. High frequencies are capable of supporting a wider bandwidth modulation easily over lower frequencies. However, propagation poses a challenge, but not in case of short range systems and point-to-point data communications, where Mm-waves provide an ideal alternative for fiber optics technology. Millimeter wave equipment also address the requirement of high-capacity gigabit wireless solutions for efficiently running bandwidth intensive applications, such as medical imaging, cloud computing and video surveillance. The market witnessed an upsurge in demand with the increase in deployment of high capacity mobile backhaul solutions in metros along with high cell density following the deployment of 4G networks. Mm-waves are expected to find even higher usage in 5G networks, which are expected to be launched around 2020. While backhaul remains a critical part of the cellular network, differing data traffic patterns across the globe have led to increasing complexity in backhaul transport requirements.

Globally, the number of mobile cellular subscriptions stood at 7.4 billion in 2016, with Asia-Pacific accounting for the maximum share of subscriptions. About 10 countries have more than 100 million mobile subscriptions with several others on the threshold of achieving this milestone. The top ten nations collectively accounted for more than 60% of total mobile subscriptions. In the coming years, mobile broadband subscriptions are expected to grow at a much faster rate than fixed broadband, with most of this growth attributed to developing nations that are characterized by significantly lower rate of penetration for fixed broadband services.

As stated by the new market research report on Millimeter Wave Equipment, the United States represents the largest market worldwide, followed by Asia-Pacific. Asia-Pacific is forecast to witness the fastest growth with a CAGR of 48.4% over the analysis period. The large subscriber base of mobile internet users and proliferation of advanced mobile data technologies such as 4G and the upcoming 5G technology are expected to drive market growth in the region.

Key players in the market include Bridgewave Communications, E-Band Communications, Aviat Networks Inc., DragonWave Inc., ELVA-1 Millimeter Wave Division, INTRACOM TELECOM, NEC Corporation, Siklu Communication Ltd, and Trex Enterprises Corporation among others.

The research report titled "Millimeter Wave Equipment: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, innovations and launches, and strategic industry activities of major companies worldwide. The report provides market estimates and projections in US dollars for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific, and Rest of World.

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