Millimeter Wave Technology Market Worth $1.9B In 2020 - New Report By MicroMarket Monitor
Millimeter Wave Technology can be segmented by Components, Geographies and Products. http://www.micromarketmonitor.com/market-report/millimeter-wave-technology-reports-3490845588.html
(PRWEB) - The report comprises of tables, figures, and charts, along with an in-depth analysis of various market dynamics such as drivers, restraints, and opportunities. The report not only analyses short-term impact parameters, but also long-term macro-economic parameters. Along with this, the report also gives an insight into the various market parameters such as market share analysis, and the recent market activity of leading players for sustainability.
Millimeter Waves are the highest band of radio waves and operate at a frequency range of 20-300 GHz. The radio waves in this band have wavelengths that are in order of millimeters (mm), which is why the waves in this band are called millimeter waves, abbreviated as MM Waves. In wireless communications, frequency is of the major factors that ascertain the feasibility of the technology.
Revenue for Global Millimeter wave technology market is estimated to reach $208.12 million by the end of 2014 and is expected to grow and cross $1.9 billion in 2020 at a CAGR of 45.09%. This growth is mainly because of the growing telecom application market for MM wave technology, especially in the small cell backhaul field. The MM wave scanner market is also expected to grow rapidly in the coming five years. This technology has a wide application in the areas like Mobile & telecommunications sector, Consumer & commercial sector, Healthcare sector, Industrial sector, Automotive & transportation sector, Military, defense & aerospace sector & some emerging, next-generation & other applications. By Geography this Technology is widely spread in North America. Europe and APAC are the fastest growing regions.
Browse through the market data tables, figures and detailed ToC on the “Millimeter Wave Technology Market”.
European Millimeter Wave Technology Market
Europe is an emerging market for millimeter wave technology in many application sectors. In the telecom sector, the Commission for European Post and Telecommunications (CEPT) recently opened up a 9 GHz wide band in the range 57-66 GHz for unlicensed millimeter wave application uses. Apart from this, in the security domain, the European Commission banned the use of X-Ray backscatter machines in airports because of health and safety issues that have cropped up by using these machines. This has further pushed the market for millimeter wave scanners and is driving the growth for millimeter wave technology in Europe. By Geography this Technology is widely spread in North America. Europe and APAC are the fastest growing regions.
Asia Pacific Millimeter Wave Technology Market
APAC (Asia Pacific) is one of the key markets to look out for in the millimeter wave technology space in future due to the tremendous scope in various applications. This is mainly due to the high population density in APAC, which makes millimeter wave technology highly suitable due to its inherent high data rate capabilities and ability to penetrate through obstacles without being genotoxic. This technology is widely spread in the regions of North America. Europe and APAC are the fastest growing regions
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