(PR Web Via Acquire Media NewsEdge) (PRWEB) September 04, 2014
According to a new market research report "Millimeter Wave Technology Market by Components (Sensors, Radio, Networking), Products (MM Scanners, MM RADARs, MM Small Cells), Applications (Communications, Aerospace, Healthcare, Automotive, Industrial) - Analysis & Forecast to 2020", published by MarketsandMarkets, the total market is expected to reach $1.9 Billion by 2020, at a CAGR of 45.09%.
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A millimeter wave is a special electromagnetic wave whose frequency lies between 3 GHz and 300 GHz, falling far beyond the frequency range of commonly used wireless technologies. Though originally electromagnetic waves with frequencies above 80 GHz were termed as microwaves and waves with even higher frequencies as radio waves, with the commercialization of this technology, the demarcation between frequencies has blurred over the past decade. Majority of the applications involved millimeter waves with frequencies lying between 20 GHz and 120 GHz in 2013.
Millimeter wave technology operates in an unregulated bandwidth that is available worldwide and with better efficiency than traditional wireless LAN frequencies, such as 2.5 GHz or 5 GHz, for the specific set of non-traditional applications. "MM Wave technology" has many applications due to its unique features that facilitate advanced imaging, high speed back-haul in telecommunications, and high speed data transfer in home media networking. The other emerging applications include satellite communications, RADAR systems across various industries, and several more, which are bound to help this market take off at a rapid pace.
Millimeter waves are the highest band of radio waves and operate at a frequency range of 20 GHz-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 MMW. In wireless communications, frequency is one of the major factors that ascertain the feasibility of the technology
The low range and narrow beam of millimeter waves have made it ideal for having little or no interference between neighboring links, even in urban environments. This has made the interception of the millimeter waves' signal very difficult or nearly impossible. Thus, in telecommunications, MM Waves technology is an alternative to fiber-optics, in terms of speed and performance, but with a low cost. Today, mobile base-station industry is rapidly incorporating MM Waves technology in small-cell equipment due to advanced features offered by millimeter waves and this trend has taken a steep upward curve with the global LTE boom in 2012-2013.
The report segments the Millimeter Waves Technology Market on the basis of different types of components, applications, and geographies. Further, it contains revenue forecasting and analysis trends in the market. The geographical analysis contains the in-depth classification for Americas, Europe, and APAC, which contains the major countries covering the market. Further, Middle-East and Latin America have been classified under ROW. Each of these geographies has been further split by the major countries existing in this market. The sections and the sub-segments in the report would contain drivers, restraints, opportunities, current market trends, and the technology expected to revolutionize the MMW domain.
The report's purview of MM wave products encompasses the distinct fields of mobile and telecommunication products, scanning and imaging products, and RADAR and satellite communication products. All three product markets, due to the distinct nature of the fields in every aspect, are analyzed separately with sub-segmentation of the market in each category into sub-markets for every type of product available commercially. Growth rates and forecasts of each of the markets are analyzed with cross-comparisons in extensive detail to give a complete picture of MM Wave technology's revenue potential.
The global Millimeter Wave Technology Market is expected to grow from $208.12 Million in 2014 to $1,941.23 Million in 2020 at a CAGR of 45.09%. Similarly, volumes are estimated to grow from 22.48 thousand units to 691.58 thousand units in 2020. This growth is heralded by the growing telecom application for Millimeter Wave Technology Market, especially in the small cell backhaul field. The millimeter wave scanner market is also expected to grow rapidly in the coming five years.
The major players in this market are Bridge Wave Communications, Inc. (U.S.), E-Band Communications Corporation (U.S.), Vubiq, Inc. (Israel), Millivision Technologies (U.S.), and others.
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