Global Millimeter Wave Technology Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

• Ceragon revealed its upcoming innovations at Mobile World Congress 2024, featuring a Neptune SoC-based technology demonstration. Highlighted advancements include millimeter wave technology with a 4000 MHz channel bandwidth and 16K QAM. Coupled with XPIC and MIMO technologies, this enables a millimeter wave link achieving speeds up to 100 Gbps, setting a new industry standard.

• Aviat Networks announced a strategic partnership with PT Smartfren Telecom Tbk in January 2024. This collaboration aims to provide high-speed, reliable wireless connectivity, along with private wireless networks for indoor and outdoor use. It also focuses on digitalization and automation services, catering specifically to private network customers in Indonesia.

• Cisco and NEC Corporation joined forces in February 2023 to integrate system solutions and explore opportunities in 5G xHaul and private 5G networks. This collaboration aims to assist customers in transforming their network architectures, facilitating enhanced connectivity for a wide range of devices and applications.

The global millimeter wave (MMW) technology market is primarily segmented by frequency band into the 24–30 GHz, 30–40 GHz, 40–60 GHz, and 60–100 GHz bands. The 24–30 GHz band, also known as the Q band, is widely used for various communication applications due to its relatively lower cost and broad availability. The 30–40 GHz band, or the V band, supports high-speed data transfer and is utilized for advanced applications like 5G and satellite communications. The 40–60 GHz band, known as the E band, is favored for high-capacity backhaul networks and high-resolution imaging systems. The 60–100 GHz band, or the W band, is emerging for applications requiring ultra-high-speed data rates and is expected to witness substantial growth due to the increasing demand for high-bandwidth services.

The millimeter wave technology market is segmented by application into Telecommunications, Automotive, Healthcare, Aerospace and Defense, and Consumer Electronics. In Telecommunications, MMW technology supports high-speed data transmission for 5G networks and next-generation wireless systems. The Automotive sector leverages MMW for advanced driver-assistance systems (ADAS) and autonomous vehicle technologies. In Healthcare, MMW applications include medical imaging and diagnostics. The Aerospace and Defense sector uses MMW technology for radar systems, satellite communications, and surveillance. Lastly, the Consumer Electronics segment includes applications such as high-definition video streaming and wireless communication devices, driven by the demand for faster and more reliable consumer products.

In terms of components, the MMW technology market is segmented into Transmitter, Receiver, Antenna, and Circuit. The Transmitter segment is crucial for converting electrical signals into electromagnetic waves. The Receiver segment is responsible for detecting and converting the received signals back into electrical form. Antenna components are essential for the transmission and reception of millimeter waves, while Circuit components include devices such as amplifiers, oscillators, and mixers that process the millimeter wave signals. The growth of these segments is driven by advancements in technology and the increasing demand for high-frequency and high-data-rate applications.

Geographically, the global millimeter wave technology market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. North America leads the market due to significant investments in 5G infrastructure and advanced technological developments. Europe follows with a strong focus on telecommunications and automotive applications. The Asia Pacific region is expected to experience rapid growth, driven by large-scale 5G deployments and increasing consumer electronics demand. The Middle East and Africa region shows potential due to expanding telecommunications infrastructure and defense sector investments. Latin America is also growing, with increasing adoption of MMW technologies for various applications including telecommunications and consumer electronics.

Global Millimeter Wave Technology Segment Analysis

In this report, the Global Millimeter Wave Technology Market has been segmented by Component Type, Licensing Model and Geography.

Global Millimeter Wave Technology Market, Segmentation by Product

The Global Millimeter Wave Technology Market has been segmented by Product into Telecommunication Equipment, Imaging & Scanning Systems, and Radar & Satellite Communication Systems.

Telecommunication Equipment utilizes millimeter wave technology for high-speed, high-capacity wireless communication. This segment includes devices such as antennas, transceivers, and base stations that operate at millimeter wave frequencies, enabling faster data transmission and improved network performance, especially for 5G infrastructure. As 5G networks continue to expand, the demand for millimeter wave-based telecommunication equipment is expected to grow due to its ability to deliver high bandwidth over short distances, essential for dense urban environments.

Imaging & Scanning Systems in millimeter wave technology are used in applications such as security screening, medical imaging, and industrial inspections. These systems use millimeter waves to detect objects or materials by providing high-resolution imaging capabilities. In security and defense, for example, millimeter wave imaging is used in body scanners at airports to detect concealed objects. In medical and industrial sectors, these systems offer non-invasive scanning solutions for enhanced diagnostic capabilities and materials inspection.

Radar & Satellite Communication Systems leverage millimeter wave technology for both terrestrial and space-based communication. In radar systems, millimeter waves provide higher resolution and precision for detecting objects, especially in defense, aviation, and automotive applications (e.g., advanced driver-assistance systems, ADAS). In satellite communications, millimeter waves offer the advantage of wide-bandwidth capacity, enabling high-speed data transmission for communication satellites, improving connectivity in remote or underserved regions.

This segmentation highlights the diverse applications of millimeter wave technology across telecommunications, imaging, radar, and satellite systems, each benefiting from its unique characteristics such as high frequency, large bandwidth, and short-range communication capabilities.

Global Millimeter Wave Technology Market, Segmentation by Component Type

The Global Millimeter Wave Technology Market has been segmented by Component Type into Antennas & Transceiver, Communications & Networking, Interface, Frequency & Related Components, Imaging and Others.

One primary segment is Antennas & Transceivers, which play a crucial role in transmitting and receiving millimeter-wave signals. These components are essential for enabling high-speed data transfer and are used in applications ranging from telecommunications to advanced radar systems. Antennas and transceivers are designed to handle high frequencies and provide the necessary bandwidth for millimeter-wave technology.

Another significant segment is Communications and Networking components, which are integral to the infrastructure that supports millimeter-wave applications. This category includes devices and systems that facilitate the transmission, reception, and processing of millimeter-wave signals for communications networks. These components are pivotal for enabling high-data-rate services and are widely used in 5G networks, satellite communications, and high-speed internet services.

The Interface, Frequency, and Related Components segment covers a range of components necessary for the operation and management of millimeter-wave systems. This includes frequency generators, mixers, and modulators, which are essential for controlling and manipulating millimeter-wave signals. These components ensure that millimeter-wave technology can operate efficiently across different frequencies and applications, supporting diverse uses from wireless communication to imaging systems.

Imaging components represent another key segment in the millimeter-wave technology market. These components are used in various imaging systems for applications such as security screening, medical diagnostics, and automotive sensors. Millimeter-wave imaging provides high-resolution images that are useful for detecting objects and analyzing materials in different environments.

The Others segment encompasses additional components and technologies that support specialized applications and emerging trends in millimeter-wave technology. This category includes novel components and innovative technologies that may not fall under the more established segments but are crucial for future advancements and niche applications in the millimeter-wave field.

Global Millimeter Wave Technology Market, Segmentation by Licensing Model

The Global Millimeter Wave Technology Market has been segmented by Licensing Model into Fully/Partly Licensed and Unlicensed.

Fully/Partly Licensed millimeter wave spectrum refers to frequencies allocated to specific entities through regulatory approval. These licenses grant exclusive rights to use certain frequency bands, often for high-capacity applications such as 5G networks, satellite communications, and high-speed data links. In this model, companies invest significantly in obtaining and maintaining these licenses, which can ensure less interference and more reliable service. The demand for fully licensed spectrum is driven by the need for high-bandwidth and low-latency applications, which are essential for next-generation telecommunications and large-scale infrastructure projects.

The Unlicensed spectrum is available for use by any entity without the need for individual licensing agreements. This model supports applications where flexibility and cost-efficiency are paramount, such as in wireless local area networks (WLANs), IoT devices, and consumer electronics. The unlicensed spectrum is ideal for short-range communications and applications where the sharing of frequencies is feasible without causing significant interference. This model promotes innovation and competition by allowing various players to develop and deploy millimeter wave technology solutions.

The choice between fully/partly licensed and unlicensed spectrum can significantly impact the deployment and growth of millimeter wave technologies. Fully/Partly Licensed segments offer greater control and guaranteed bandwidth for high-stakes applications, while the Unlicensed spectrum supports broader adoption and experimental technologies. As the market evolves, the balance between these models will shape the future of millimeter wave technology and its applications.

Global Millimeter Wave Technology Market, Segmentation by Geography

In this report, the Global Millimeter Wave Technology Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.

Global Millimeter Wave Technology Market Share (%), by Geographical Region, 2024

North America is a leading region in the Global Millimeter Wave Technology Market, driven primarily by the United States and Canada. The region benefits from advanced technological infrastructure, significant investments in research and development, and a high rate of adoption of innovative technologies. The growing demand for high-speed internet, the expansion of 5G networks, and increasing applications in automotive and healthcare sectors contribute to North America's market growth. The presence of major technology companies and a supportive regulatory environment further bolster the adoption of millimeter wave technology.

Europe is another prominent region in the millimeter wave technology market, with strong growth prospects driven by countries such as Germany, the United Kingdom, and France. The European market is characterized by a focus on technological advancements and the implementation of high-speed communication networks. Key factors contributing to growth include the roll-out of 5G infrastructure, the development of smart cities, and increasing research initiatives in advanced technologies. The European Union’s support for technological innovation and the presence of major tech firms are significant drivers of market expansion in this region.

The Asia Pacific region is expected to experience substantial growth in the millimeter wave technology market due to rapid urbanization, increasing internet penetration, and the expansion of telecommunication infrastructure. Countries like China, Japan, South Korea, and India are leading this growth, with significant investments in 5G technology and smart city projects. The rising demand for high-bandwidth applications, advancements in electronic components, and government initiatives to boost technological development are key factors driving market growth in the Asia Pacific region.

The Middle East and Africa region is witnessing a gradual increase in the adoption of millimeter wave technology, driven by growing investments in telecommunications and infrastructure development. Countries such as the UAE, Saudi Arabia, and South Africa are at the forefront of this growth, focusing on expanding 5G networks and exploring innovative applications in various sectors. The market in this region is supported by government initiatives aimed at enhancing digital connectivity and fostering technological advancements, which are expected to drive the adoption of millimeter wave technology.

In Latin America, the millimeter wave technology market is experiencing steady growth, driven by increasing investments in telecommunication infrastructure and the expansion of high-speed internet services. Brazil and Mexico are the key markets in this region, with efforts focused on improving network coverage and enhancing digital capabilities. The growth of the market is supported by government policies aimed at boosting technological innovation and increasing the availability of advanced communication solutions.

This report provides an in depth analysis of various factors that impact the dynamics of Global Millimeter Wave Technology Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.

Drivers

• High data transfer speeds
• Increasing demand for 5G
• Advancements in semiconductor technology

• Growing IoT applications: The global millimeter wave (mmWave) technology market is experiencing robust growth driven by advancements in high-frequency communication systems. Millimeter wave technology, which operates in the 30 GHz to 300 GHz frequency range, offers high bandwidth and low latency, making it ideal for applications requiring rapid data transmission and high-speed connectivity. As demand for faster and more reliable wireless networks increases, mmWave technology is becoming crucial in developing next-generation 5G networks and supporting innovative applications in various sectors, from telecommunications to automotive and healthcare.

  One of the key factors propelling the growth of the mmWave technology market is the expanding Internet of Things (IoT) ecosystem. The proliferation of IoT devices, such as smart home appliances, wearables, and industrial sensors, creates a significant demand for high-capacity, low-latency communication solutions. Millimeter wave technology addresses these needs with its ability to support dense device deployments and provide high data transfer rates essential for IoT applications. For instance, mmWave frequencies enable high-speed data transmission for smart cities' infrastructure, such as traffic management systems and public safety networks, enhancing urban living through improved connectivity and real-time data analytics.

  The evolution of IoT technologies is pushing the boundaries of mmWave applications beyond conventional uses. The integration of mmWave technology with emerging technologies like artificial intelligence (AI) and machine learning (ML) facilitates the development of sophisticated IoT solutions. These advancements are enhancing applications in sectors such as healthcare, where mmWave technology is used for high-resolution imaging and remote monitoring, and in manufacturing, where it supports automated processes and predictive maintenance. As the IoT landscape continues to expand, the mmWave technology market is set to grow, driven by its ability to meet the demands of a connected world and support innovative, high-bandwidth applications.

Restraints

• High implementation costs
• Limited range and coverage
• Signal interference issues

• Regulatory and spectrum limitations: Millimeter wave (mmWave) technology, which operates in the frequency range of 30 GHz to 300 GHz, faces significant regulatory and spectrum challenges that impact its development and deployment. One of the primary regulatory hurdles is obtaining spectrum licenses, as mmWave frequencies are often shared among multiple users and require careful management to avoid interference. National and international regulatory bodies, such as the International Telecommunication Union (ITU) and national spectrum management agencies, establish and enforce rules for spectrum allocation and usage. These regulations are essential for maintaining orderly spectrum usage but can also slow down the deployment of new mmWave applications by introducing bureaucratic processes and requiring compliance with strict technical standards.

  Another challenge is the scarcity of available spectrum for commercial use. Many mmWave frequency bands are already allocated for existing services, including satellite communications, weather radar, and military applications. The process of reallocating or sharing these bands requires extensive negotiations between stakeholders and regulatory authorities. This spectrum congestion can limit the availability of frequencies for emerging technologies like 5G and advanced wireless communication systems, which depend on mmWave bands for high-speed data transmission and enhanced network capacity.

  Additionally, there are technical limitations associated with mmWave spectrum that influence regulatory policies. High-frequency mmWave signals have a shorter range and are more susceptible to attenuation from obstacles, weather conditions, and atmospheric absorption. Regulators must address these technical challenges by defining guidelines for infrastructure deployment, such as the density of base stations and the use of advanced beamforming techniques to ensure reliable coverage and service quality. Balancing these technical requirements with the need for efficient spectrum utilization and innovation remains a complex task for regulatory bodies, impacting the overall growth of the mmWave technology market.

Opportunities

• Expansion in smart cities
• Development of advanced sensors
• Growth in automotive applications

• Emerging consumer electronics markets: The global millimeter wave (mmWave) technology market is rapidly expanding due to its potential in various emerging consumer electronics applications. Millimeter wave technology operates in the frequency range of 30 GHz to 300 GHz, offering high-speed data transmission and increased bandwidth compared to traditional technologies. This capability makes mmWave an attractive solution for modern consumer electronics, including advanced smartphones, next-generation Wi-Fi, and high-definition video streaming. As consumer demand for faster, more reliable connectivity grows, companies are investing in mmWave technology to enhance product performance and meet evolving market expectations.

  Smartphones and wearable devices are at the forefront of the mmWave technology adoption. The push towards 5G networks has driven the integration of mmWave antennas into smartphones, enabling faster internet speeds and improved network reliability. Additionally, the proliferation of wearable technology, such as smartwatches and fitness trackers, benefits from mmWave’s ability to support high-data applications and real-time communication. The introduction of these high-performance consumer electronics is expected to stimulate growth in the mmWave technology market, with manufacturers focusing on miniaturization and cost-efficiency to make these advancements accessible to a broader audience.

  Virtual reality (VR) and augmented reality (AR) applications represent another significant area for mmWave technology’s expansion. These immersive technologies require high-bandwidth and low-latency connections to deliver seamless experiences. MMWave’s ability to provide high data rates and support advanced features like high-definition video and interactive content makes it ideal for the VR and AR markets. As these applications become more mainstream, the demand for mmWave technology is anticipated to increase, driving innovation and development in both consumer electronics and related industries. This trend is likely to further boost the global mmWave technology market, as companies explore new ways to integrate these capabilities into future products.

Key players in Global Millimeter Wave Technology Market include:

• Keysight Technologies
• Rohde & Schwarz
• L3 Technologies
• Nokia
• Qualcomm
• IBM
• Anokiwave
• Cree Inc
• Millitech Inc
• Sierra Circuits

In this report, the profile of each market player provides following information:

• Company Overview and Product Portfolio
• Key Developments
• Financial Overview
• Strategies
• Company SWOT Analysis