Telecom Millimeter Wave MMW Market to Grow with a CAGR of 38.56% Globally through to 2028
Telecom Millimeter Wave MMW market is increasing due
to the Increased data usage and 5G deployment.in the forecast period,
2024-2028.
According to TechSci Research report, “Global Telecom
Millimeter Wave MMW Market - Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028
Global Telecom Millimeter Wave MMW market has
witnessed tremendous growth in recent years, reaching a valuation of USD 585.34
million in 2022. The market is projected to continue its strong upward
trajectory, posting a CAGR of 38.56% from 2024 to 2028. The Global Telecom
Millimeter Wave MMW market has experienced significant growth over the past
year, driven largely by increasing demand from commercial real estate and
facilities management companies. These organizations have come to recognize the
strategic benefits of Telecom Millimeter Wave MMW technologies in optimizing
their operations, improving risk management, and ensuring regulatory compliance
- especially regarding advanced fire safety and property management
capabilities. Many major commercial real estate firms have partnered
with leading Telecom Millimeter Wave MMW solution providers. This collaboration
has enabled digital transformation for critical backend processes like fire
inspection management, equipment maintenance scheduling, and comprehensive
reporting. Telecom Millimeter Wave MMW platforms have become catalysts for
improved collaboration among dispersed project teams, resulting in higher
efficiencies within property networks.
Additionally, technologies that utilize Telecom
Millimeter Wave MMW infrastructure, such as cloud-based fire safety software,
3D building design tools, and smart building systems, have empowered real
estate companies with customized solutions to enhance safety, compliance, and
overall business performance. As a result, they have gained a competitive
advantage by boosting productivity, reducing operating expenses, and speeding
up the time-to-market for new property developments. This surge in adoption has
also been fueled by corporate digital transformation initiatives prioritizing
flexible work models and remote management capabilities - all underpinned by
Telecom Millimeter Wave MMW infrastructure. Real estate enterprises have come
to recognize the strategic role Telecom Millimeter Wave MMWs play in managing
extensive, geographically dispersed property portfolios, enabling adaptable
work environments, and facilitating complex building design projects. This
shift has contributed to rising demand as firms seek to optimize costs and
respond swiftly to evolving regulations. Furthermore, ongoing innovation in AI-powered
facilities management, smart building platforms, and digital twin technologies
has additionally accelerated market growth. These advancements empower property
owners to establish data-driven, customized models for portfolio management and
compliance using Telecom Millimeter Wave MMW capabilities. As real estate companies continue exploring new ways
to harness Telecom Millimeter Wave MMWs in their digital operations and smart
building strategies, the long-term outlook for the global Telecom Millimeter
Wave MMW market remains very positive. The reliability and advanced
functionality related to fire safety and compliance have evolved into critical
enablers for flexible work environments, customized tenant experiences, and
complex construction projects worldwide. Consequently, the market is poised for
robust growth as adoption expands across various geographical regions and
property types, aligning with the evolving digital transformation priorities of
the real estate industry reliant on Telecom Millimeter Wave MMW infrastructure.
Browse over 26 market data Figures spread
through 91 Pages and an in-depth TOC on "Global Telecom Millimeter Wave MMW Market.”
The Telecom Millimeter Wave (MMW) Market is segmented
by licensing type, frequency band, and application. By licensing type, the
fully-licensed segment currently dominates as it allows operators to provide
dedicated networks without interference. However, the light-licensed and
unlicensed segments are expected to experience the fastest growth. By frequency band, the V-band (57-64 GHz) segment
holds the largest share as it experiences less atmospheric absorption compared
to higher bands. However, the E-band (71-76 GHz, 81-86 GHz) segment is poised
to grow at the fastest rate due to increasing availability of spectrum and
components. In terms of applications, the military segment
currently accounts for the largest share as MMW technology enables high-speed
connectivity for applications like drone control and soldier head-mounted
displays. However, the civil segment, which includes uses like 5G small cell
backhaul, is projected to witness the highest CAGR.
Key factors fueling the MMW market include the
availability of wide spectrum bandwidth in the millimeter wave range, which
supports multi-Gbps data rates for 5G and beyond. Additionally, MMW technology
allows for compact form factors suitable for applications like mobile devices
and automotive radars. However, challenges around atmospheric absorption at
higher frequencies and component costs may hamper market growth. Overall, the global Telecom MMW market size is
expected to grow significantly driven by increasing 5G deployments and
expanding applications of MMW technology in areas like automotive, healthcare
and more. Fully-licensed V-band networks and civil small cell backhaul are
likely to be dominant segments, while light-licensed E-band and military
applications are poised for fastest growth.
Major companies operating in Global Telecom
Millimeter Wave MMW Market are:
- Keysight Technologies, Inc.
- NEC
Corporation
- Bridgewave
Communications, Inc.
- Siklu
Communication Ltd.
- Sage
Millimeter, Inc.
- Smiths
Group plc
- L3Harris
Technologies, Inc.
- Siae Microelettronica S.p.A.
- Vubiq
Networks, Inc.
- Millimeter Wave Products Inc.
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“The global Telecom Millimeter Wave (MMW) market has
experienced significant growth in recent years and is well positioned for
continued expansion. Driven by increasing digital transformation across
industries, the Telecom MMW market size is projected to see strong revenue
growth over the next five years. Technologies like 5G, artificial intelligence, cloud
computing, internet of things, and data analytics have enabled enterprises to
leverage Telecom MMW solutions to optimize operations, generate predictive
insights, automate workflows, and manage compliance. By collecting and
analyzing large volumes of data through advanced analytics, Telecom MMW
solutions allow companies to deeply customize solutions, reduce costs through
streamlined processes, and strengthen regulatory controls.
Both large enterprises and small/medium businesses are
partnering with Telecom MMW providers to digitally transform core and non-core
functions. This adoption of Telecom MMW solutions helps organizations enhance
customer experiences through personalized recommendations, automate workflows
to optimize processes, and more effectively manage compliance requirements. Telecom
MMW vendors continue investing heavily in research and development to develop
industry-specific solutions addressing diverse business needs. Regulatory
authorities are also developing frameworks to ensure data privacy and security
standards are maintained, fostering continued innovation. Backed by ongoing
technological advancements in areas like 5G, cloud, and IoT, growing acceptance
of data-driven strategies, and continuous product innovation, analysts project
the global Telecom MMW market will experience strong, sustained revenue growth
over the next five years. As digital technologies become increasingly core to
business capabilities across all sectors, Telecom MMW solutions are cementing
their role as indispensable tools for optimizing processes.
The future outlook for the global Telecom MMW industry
remains bright, with the market well positioned for continued expansion driven
by these factors supporting ongoing digital transformation globally.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“Telecom
Millimeter Wave MMW Market by
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Licensing Type (Fully-licensed, Light-licensed, Unlicensed), By
Frequency Band (V-band, E-band), By Application (Military, Civil), By Region, By Competition”, has evaluated the future growth potential of Global
Telecom Millimeter Wave MMW Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Telecom Millimeter Wave MMW Market.
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