Global Millimeter Wave Technology Market Size & Outlook
Global millimeter wave technology market, 2017-2030 (US$M)
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Global millimeter wave technology market highlights
- The global millimeter wave technology market generated a revenue of USD 3,749.9 million in 2023 and is expected to reach USD 38,550.3 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 39.5% by 2030.
- In terms of segment, telecommunication equipment accounted for a revenue of USD 2,166.6 million in 2023.
- Radar & Satellite Communication Systems is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 3,749.9 million |
| Market revenue in 2030 | USD 38,550.3 million |
| Growth rate | 39.5% (CAGR from 2023 to 2030) |
| Largest segment | Telecommunication equipment |
| Fastest growing segment | Radar & Satellite Communication Systems |
| Historical data covered | 2017 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Telecommunication Equipment, Imaging & Scanning Systems, Radar & Satellite Communication Systems |
Other key industry trends
- In terms of revenue, the North America accounted for 41.8% of the global millimeter wave technology market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, Mexico is the fastest growing regional market and is projected to reach USD 33.1 million by 2030.
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Millimeter Wave Technology Market Scope
Millimeter Wave Technology Market Companies
| Name | Profile | # Employees | HQ | Website |
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Global millimeter wave technology market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to millimeter wave technology market will help companies and investors design strategic landscapes.
Telecommunication equipment was the largest segment with a revenue share of 57.78% in 2023. Horizon Databook has segmented the Global millimeter wave technology market based on telecommunication equipment, imaging & scanning systems, radar & satellite communication systems covering the revenue growth of each sub-segment from 2017 to 2030.
The increasing research and development activities in the mm Wave (MMW) technology and the continuously rising demand for mm Wave technology in the telecommunications sector are anticipated to propel the global market's growth. Additionally, intensive R&D activities and investments from the private and public sectors, coupled with government funding and initiatives, are paving the way for improved technologies, thus creating growth opportunities for the millimeter-wave technology market.
The continuously rising demand from bandwidth-intensive applications, arising mainly from consumer electronic products, such as smartphones and wearable electronics, increases the need for high bandwidth and high-speed internet across the telecom sector.
The increasing penetration of the internet, e-governance, and cloud computing are expected to drive demand for faster and more reliable internet connectivity over the projected time, contributing to increasing demand for mm Wave technology. Additionally, the increasing use of mmWave in the telecom sector and small cell backhaul applications are projected to be the key driving factors for the overall industry growth.
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Target buyers of Global millimeter wave technology market databook
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Our clientele includes a mix of millimeter wave technology market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of global-level data and insights on the Global millimeter wave technology market , including forecasts for subscribers. This global databook contains high-level insights into Global millimeter wave technology market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Global millimeter wave technology market size, by regions, 2017-2030 (US$M)
Top 10 countries: Millimeter wave technology market size, 2023 (US$M)
Global millimeter wave technology market share, by product, 2023 & 2030 (%, US$M)
Millimeter wave technology market: Opportunity assessment by country
Global millimeter wave technology market, by region, 2023 (US$M)
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