The global telecom millimeter wave technology market size is projected to reach USD 7.38 billion by 2027, registering a CAGR of 37.01%, according to the new report conducted by Grand View Research, Inc. Millimeter Waves (MMW) can a transmit large amount of data efficiently, operating in the electromagnetic spectrum of 30 GHz to 300 GHz. Millimeter waves are also known as Extremely High-Frequency (EHF) waves owing to its operational frequency spectrum. The property of transmitting a large amount of data has made the technology a popular across the telecommunication application.
The
MMW technology industry is prominently dependent on the applications in various
verticals where it is used extensively. Major application areas include
telecommunication, military and defense, security services, and medical and
healthcare. Evolution of 5G technology is likely to occur over the coming years
on account of recent developments and continuous research and progress in the
telecom industry.
Millimeter
waves are anticipated to play a vital role in the development of
fifth-generation technology on account of the technology’s demand for
higher-bandwidth. The 5G technology is predicted to emerge in the coming years
and the market is likely to witness its adoption significantly. Eventually, the
demand for MMW technology is expected to boost, in turn, propelling the overall
MMW technology market, particularly across the telecom industry.
Increased
government funding and initiatives coupled with intensive R&D carried out
from the military and private sectors are leading towards the improvement of
the MMW technology. In addition, the E-band frequency segment having extensive
application in the telecommunication sector is estimated to generate the
highest revenue. The E-band frequency segment is projected to keep on
dominating in the telecom industry owing to the growing telecom applications.
Therefore, the overall telecom millimeter wave technology market is poised to
witness a significant growth worldwide over the forecast period at a notable
pace.
Full Research Report On Telecom Millimeter Wave Technology Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/telecom-millimeter-wave-mmw-technology-market
Telecom Millimeter
Wave Technology Market Report Highlights
- North America
accounted for the largest market share in the telecom MMW technology
market owing to the technology’s early and greater adoption rate
- U.S. being
highest revenue generating country in 2019 in North America, the regional
market is predicted to exhibit steady growth over the forecast period
- E-band
frequency segment is anticipated to grow rapidly over the estimated
duration owing to its extensive adoption in the telecom applications
- The telecom
industry in Asia Pacific is poised to expand substantially over the coming
years, and the E-band frequency segment is likely to witness lucrative
opportunity in the regional telecom industry
- Besides,
growing urbanization in the Asia Pacific region and competition amongst
the telecom service providers to offer superior quality of internet and
other related services in order to enlarge customer base is another factor
expected to drive the telecom MMW technology market
- Online
streaming of high-quality videos, online gaming, and other entertainment
stuff which demand high bandwidth and consume heavy data are again likely
to fuel the overall demand for MMW technology in the telecom sector
globally
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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