NEW YORK, Sept. 5, 2016 /PRNewswire/ -- The global market for millimeter wave technology is expected to grow at a CAGR of 42.99% between 2016 and 2022 to reach USD 4,632.8 million by 2022 from USD 346.8 million in 2015. The growth of this market is expected to be driven by the growing demand for bandwidth-intensive applications and increasing usage of millimeter wave technology in the small cell backhaul network.
The market for the telecommunication sector is expected to grow at a high rate during the forecast period
The telecommunication sector accounted for the largest share of the millimeter wave technology market in 2015, and this sector is expected to hold the largest market share during the forecast period. The increasing installations of high-speed communication equipment would drive the growth of the millimeter wave technology market for the telecommunication sector in APAC and RoW between 2016 and 2022.
APAC and RoW to be the fastest-growing markets for millimeter wave technology during the forecast period
North America accounted for the largest share of the global millimeter wave technology market in 2015 as the region is the early adopter of this technology; the market growth is also due to the high demand for bandwidth-intensive applications in the region. Europe accounted for the second largest share of the millimeter wave technology market in 2015. However, the millimeter wave technology market in RoW and APAC is expected to witness a high growth rate during the forecast period due to the expected developments in the telecom infrastructure and the commercialization of the next-generation (5G) technology by 2020.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews of key opinion leaders in the millimeter wave technology market have been conducted. The break-up of primary participants for the report is shown below:
- By Company Type: Tier 1– 25%, Tier 2 – 45%, and Tier 3 – 30%
- By Designation: C-Level Executives– 15%, Directors – 55%, and Others – 30%
- By Region: North America – 35%, Europe – 40%, APAC – 10%, and RoW – 15%
The report profiles key players operating in the millimeter wave technology market, along with their respective market share analysis. The prominent players profiled in this report are BridgeWave Communications (U.S.), E-Band Communications, LLC (U.S.), Siklu Communication Ltd. (Israel), SAGE Millimeter, Inc. (U.S.), Keysight Technologies (U.S.), Millitech Inc. (U.S.), NEC Corporation (Japan), Trex Enterprises Corporation (U.S.), LightPointe Communications, Inc (U.S.), and Farran technology Ltd. (Ireland).
The report will help leaders/new entrants in this market in the following ways:
1. This report segments the millimeter wave technology market comprehensively and provides the closest approximations of the size of the overall market and its subsegments across various verticals and regions.
2. The report would help stakeholders understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders better understand their competitors and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem and strategic developments.
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