In a recently published report, Millimeter Wave Technology Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Millimeter Wave Technology Market products.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Millimeter wave (MV) technology is a different type of electromagnetic wave technology. A millimeter wave creates the ultimate band of electromagnetic wave called radio wave, which runs at a frequency ranging between 20 GHz -300 GHz. In recent years, millimeter wave can be used for high-speed wireless broadband communications. 5G will bring mobility to MM Wave communications since the next-gen wireless network aim to serve more people and or even things with a major expansion of mobile services. In order to get the technology more useful and feasible, frequency forms one of the determining factors, which produces the MM technology suitable for several applications in different sectors. Some common application of MM wave technology is automotive, mobile & telecommunication, and healthcare.
An increase in mobile data traffic and demand for bandwidth-intensive applications, along with increasing application in smart devices, such as wearables and smartphones, are the few factors responsible for the high CAGR of the market during the forecast period. According to Cisco, in western Europe’s mobile data traffic was around 6.5% of total internet traffic in 2016, and it would grow almost 12.2% of the total internet traffic by the year 2021. Moreover, as per Statista, the total number of cellular mobile-to-mobile (M2M) connections was nearly 121 million in Europe and is projected to grow with 195 million by 2019. This, in turn, is likely to strengthen the growth of millimeter wave technology market across the globe. However, lack of standardization and adverse impact of the technology on environment are the few factors impeding the market growth over the forecast period of 2020-2027.
The regional analysis of the global Millimeter Wave Technology market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the early adoption of MV Technology in mobile and telecommunication applications, along with the large presence of market players in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the growing developments in telecom infrastructure and the rising mobile data traffic in the emerging nations, such as China and India, are the few factors creating a lucrative opportunity for the growth of the cancer vaccine market in the Asia-Pacific region.
Major market player included in this report are:
Aviat Networks, Inc.
Bridgewave Communications, Inc.
E- Band Communications, LLC
Farran Technology Ltd.
Keysight Technologies, Inc.
Lightpointe Communications, Inc.
QuinStar Technology, Inc.
Sage Millimeter, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Imaging and Scanning Systems
Radar and Satellite Communication Systems
Antennas & Transceivers
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Military & Defense
Automotive & Transport
By Frequency Band:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Millimeter Wave Technology Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
About Kenneth Research
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