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Millimeter Wave Technology Market
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Millimeter Wave Technology Market

Author: Chandra Mohan - Sr. Industry Consultant, Report ID - DS1204002, Published - November 2024

Segmented in Type (V-Band, E-Band, W-Band), Component (Antenna, Transceiver, RF Amplifier, Duplexer), Application and Regions - Global Industry Analysis, Size, Share, Trends, and Forecast 2023 – 2033

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Millimeter Wave Technology Market Outlook

Millimeter Wave (MMW) Technology works at high frequencies ranging from 30 GHz to 300 GHz enabling rapid data transfer and detailed imaging crucial for advanced communication and sensing uses. In 2023 the millimeter wave technology market was estimated at around USD 3.8 billion and is expected to reach USD 12.3 billion by 2030 and possibly USD 28 billion by 2035, showing a compounded annual growth rate of approximately 18.3%. This expansion is fueled by the need for data connections in telecoms networks and also, in automotive radar and medical imaging systems.


MMW technology is commonly employed in the field of telecommunications for 5th generation networks which facilitate data transmission with minimal delays. Moreover it plays a role in enabling high quality imaging in the healthcare sector and advanced radar systems, for automotive purposes thereby improving detection abilities greatly.


Market Size Forecast & Key Insights

2018
$3.8B2023
2028
$20.3B2033

Absolute Growth Opportunity = $16.5B

The Millimeter Wave Technology market is projected to grow from $3.8 billion in 2023 to $20.3 billion in 2033. This represents a CAGR of 18.3%, reflecting rising demand across Telecommunication, Healthcare and Automotive.

The Millimeter Wave Technology market is set to add $16.5 billion between 2023 and 2033, with service providers targeting Transceiver & RF Amplifier Component projected to gain a larger market share.

With Demand for high-speed data and connectivity, and Advancements in automotive safety systems, Millimeter Wave Technology market to expand 437% between 2023 and 2033.

Opportunities in the Millimeter Wave Technology Market

Development of Cost-Effective MMW Components

Breakthroughs, in materials and production processes are driving down the costs of MMW components - Widening their availability across diverse industries.

Emerging Markets Adoption and Integration with AI for Enhanced Imaging

Developing nations are quickly embracing millimeter wave technology, for communication purposes. This trend presents a growth opportunity as the 5th generation network infrastructure continues to grow.

When AI is combined with MMW imaging technology, it enhances abilities significantly. This leads to imaging accuracy, in medical and security fields.

Growth Opportunities in North America and Asia-Pacific

Asia Pacific Outlook

In the Asia Pacific region, there is a growing use of MMW technology in sectors such as telecommunications, automotive industry and healthcare along with substantial funding going towards developing 5G infrastructure. Leading the way in this area are corporations, like NEC Corporation and Samsung.

North America Outlook

In the field of millimeter wave (MMW) technology research and implementation in North America takes the lead due to demand in sectors such, as telecommunications and automotive industry. Notable companies operating in this region include Qualcomm and Keysight Technologies.

North America Outlook

In the field of millimeter wave (MMW) technology research and implementation in North America takes the lead due to demand in sectors such, as telecommunications and automotive industry. Notable companies operating in this region include Qualcomm and Keysight Technologies.

Asia-Pacific Outlook

In the Asia Pacific region, there is a growing use of MMW technology in sectors such as telecommunications, automotive industry and healthcare along with substantial funding going towards developing 5G infrastructure. Leading the way in this area are corporations, like NEC Corporation and Samsung.

Growth Opportunities in North America and Asia-Pacific

Established and Emerging Market's Growth Trend 2024–2033

1

Major Markets : United States, China, Japan, South Korea, Germany are expected to grow at 17.6% to 25.6% CAGR

2

Emerging Markets : India, Brazil, United Kingdom are expected to grow at 13.7% to 19.0% CAGR

Market Analysis Chart

The growth of MMW technology is fueled by the need for connections and improvements in car safety and medical imaging despite obstacles like expenses and regulations. There are chances in developing markets well, as affordable MMW parts and incorporating AI into imaging technology.

Recent Developments and Technological Advancement

October 2024

Qualcomm unveiled a MMW chipset aimed at improving data transmission in 5G networks.

July 2024

Infineon broadened its range of radar products by integrating sophisticated millimeter wave (MMW) features to enhance collision prevention measures.

May 2024

Smith Detection introduced a security screening system that uses MMW technology for airport use. The system aimed to enhance detection accuracy in security screenings.

Advancements in millimeter wave (MMW) technology are geared towards improving telecommunications and applications in the healthcare industry. Qualcomms latest MMW chipset enables high speed data transmission for generation wireless technology (5G) whereas Infineons radar solutions contribute to enhancing safety features in vehicles. Additionally Smith Detections screening system underscores the capabilities of MMW technology, in boosting security measures.

Impact of Industry Transitions on the Millimeter Wave Technology Market

As a core segment of the Telecommunication & Cellular Devices industry, the Millimeter Wave Technology market develops in line with broader industry shifts. Over recent years, transitions such as Shift Towards E-Band for Telecom Applications and Increased Use of MMW in Automotive Radar have redefined priorities across the Telecommunication & Cellular Devices sector, influencing how the Millimeter Wave Technology market evolves in terms of demand, applications and competitive dynamics. These transitions highlight the structural changes shaping long-term growth opportunities.

1

Shift Towards E-Band for Telecom Applications:

The usage of E-Band frequencies is rising in the field of telecommunications to enhance high capacity backhaul services that cater to 5G networks and support dense urban connectivity.

2

Increased Use of MMW in Automotive Radar:

Technology known as mmWave is becoming increasingly popular in the realm of radar applications. It offers capabilities for detecting objects and measuring distances, in the context of ADAS (Advanced Driver Assistance Systems) and autonomous driving.

Global Events Shaping Future Growth

The chart below highlights how external events including emerging market developments, regulatory changes, and technological disruptions, have added another layer of complexity to the Telecommunication & Cellular Devices industry. These events have disrupted supply networks, changed consumption behavior, and reshaped growth patterns. Together with structural industry transitions, they demonstrate how changes within the Telecommunication & Cellular Devices industry cascade into the Millimeter Wave Technology market, setting the stage for its future growth trajectory.

Market Dynamics and Supply Chain

Driver: Demand for High-Speed Data and Connectivity, and Healthcare Imaging Innovations

Millimeter wave technology fulfills the need for data transmission and connectivity required for 5th generation networks and applications in the Internet of Things (IoT).
Millimeter wave technology enables non invasive imaging that improves the accuracy of diagnoses in healthcare fields, like oncology and dermatology.
The industrys emphasis, on advanced driver assistance systems (ADAS) is also pushing for the integration of millimeter wave (MMW) technology to enhance radar sensing accuracy.

Restraint: High Equipment Costs, and Regulatory and Frequency Allocation Challenges

The price of MMW technology is quite high which hinders its use, in applications.
The distribution of frequencies in millimeter wave (MMW) bands may differ depending on the region. This can make it challenging to achieve high usage globally and especially, in the field of telecommunications.

Challenge: Technical Complexity in Integration

Some industries may face challenges in adopting MMW components due, to the expertise and equipment needed for integration.

Supply Chain Landscape

Material Supplier

Sumitomo Electric

Cree

[Provides essential materials such as gallium arsenide and silicon germanium]

Component Manufacturer

Analog Devices

Qorvo

System Integrator
Nokia / Qualcomm
End-User
Telecommunications / Automotive / Healthcare / [Verizon, Toyota, GE Healthcare]
Material Supplier

Sumitomo Electric

Cree

[Provides essential materials such as gallium arsenide and silicon germanium]

Component Manufacturer

Analog Devices

Qorvo

System Integrator

Nokia

Qualcomm

End-User

Telecommunications

Automotive

Healthcare

[Verizon, Toyota, GE Healthcare]

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Leading Providers and Their Strategies

Application AreaIndustryLeading ProvidersProvider Strategies
Telecommunication
5G Networks
Qualcomm
Developing high-speed MMW chipsets for 5G connectivity
Automotive
ADAS
Infineon
Expanding MMW radar applications for collision detection
Healthcare
Medical Imaging
GE Healthcare
Utilizing MMW for non-invasive, high-resolution imaging
Security
Airport Screening
Smiths Detection
Offering MMW-based security screening systems for enhanced detection

Elevate your strategic vision with in-depth analysis of key applications, leading market players, and their strategies. The report analyzes industry leaders' views and statements on the Millimeter Wave Technology market's present and future growth.

Our research is created following strict editorial standards. See our Editorial Policy

Applications of Millimeter Wave Technology in Healthcare, Telecommunication and Automotive

Healthcare

mmWave technology is applied in imaging and diagnostics to deliver detailed images for areas like cancer treatment and skin analysis. Leading companies, like GE Healthcare and Philips are actively incorporating mmWave technology into healthcare imaging solutions.

Telecommunication

Millimeter wave technology is utilized in 5th generation networks to facilitate fast data transmission rates and enhance network capacity while also minimizing latency issues. Companies such as Qualcomm and Nokia are actively developing millimeter wave solutions, for the telecommunications sector.

Automotive

In the automotive industry applications, millimeter waves elevate the performance of radar driven safety features like adaptive cruise control and collision prevention by facilitating accurate object detection capabilities. Entities such as Infineon and Bosch have developed expertise in manufacturing MMW radar systems, for automobiles.

Millimeter Wave Technology vs. Substitutes:
Performance and Positioning Analysis

Although microwave and infrared sensors are used options in the market; millimeter wave (MMW) technology stands out with its exceptional data speed and resolution capabilities making it particularly well suited for advanced applications.

Millimeter Wave Technology
  • Microwave Technology /
  • Terahertz Technology /
  • Infrared Sensor
    High-Speed Data Transfer and High-Resolution Imaging
    High Cost and Complexity of Integration
    Affordable and Widely Available
    Limited Data Speed and Resolution

Millimeter Wave Technology vs. Substitutes:
Performance and Positioning Analysis

Millimeter Wave Technology

  • High-Speed Data Transfer and High-Resolution Imaging
  • High Cost and Complexity of Integration

Microwave Technology / Terahertz Technology / Infrared Sensor

  • Affordable and Widely Available
  • Limited Data Speed and Resolution

Although microwave and infrared sensors are used options in the market; millimeter wave (MMW) technology stands out with its exceptional data speed and resolution capabilities making it particularly well suited for advanced applications.

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Research Methodology

This market research methodology defines the Millimeter Wave Technology market scope, captures reliable data, and validates findings through integrated primary and secondary research. The framework ensures accurate market sizing, demand-supply analysis, and competitive benchmarking specific to service-driven business models.


Secondary Research Approach


We begin secondary research by defining the targeted market at both global and regional levels. Positioned within the Telecommunication & Cellular Devices ecosystem, we analyze Millimeter Wave Technology adoption across Telecommunication, Automotive, and Healthcare Applications. Data is systematically collected from Professional Associations, Industry-specific Service Registries, company annual reports, country level ministerial sources and other credential sources, enabling detailed mapping of service delivery models, pricing structures, regulatory compliance, and technology enablers.


Key Sources Referenced:


We benchmark service providers such as Qualcomm, Nokia, and Infineon, using industry databases, client case studies, annual reports, and partnership disclosures. This secondary research identifies market drivers and constraints, providing the foundation for validation through primary research.


Primary Research Methods


We conduct structured interviews and surveys with industry stakeholders, including Material Supplier, Component Manufacturer, and System Integrator. Our geographic coverage spans Americas (45%), Europe (30%), and Asia-Pacific (25%) and Middle East & Africa (5%). Our online surveys generally secure a 70% response rate, while in-depth interviews achieve 84% engagement, ensuring a 91% confidence level with ±8.5% margin of error.


Through targeted questionnaires and in-depth interviews, we capture customer satisfaction, vendor selection criteria, service delivery effectiveness, outsourcing vs in-house trade-offs, and post-service value realization. We use interview guides to ensure consistency and anonymous survey options to mitigate response bias. These primary insights validate secondary findings and align market sizing with real-world conditions.


Market Engineering and Data Analysis Framework


Our data analysis framework integrates Top-Down, Bottom-Up, and Company Market Share approaches to estimate and project market size with precision.


Top-down and Bottom-up Process


In the Top-down approach, we disaggregate the global Telecommunication & Cellular Devices revenues to estimate the Millimeter Wave Technology segment, guided by enterprise spending, outsourcing penetration, and service intensity ratios. In the Bottom-up approach, we aggregate project-level, contract-level, and client-spending data at the country and industry levels to construct detailed adoption models. By reconciling both methods, we ensure forecast accuracy and statistical robustness.


We evaluate the service value chain, covering Material Supplier (Sumitomo Electric, Cree), Component Manufacturer (Analog Devices, Qorvo), and System Integrator. Our parallel substitute analysis examines alternative models such as Microwave Technology, Terahertz Technology, and Infrared Sensor, highlighting diversification opportunities and competitive risks.


Company Market Share and Benchmarking


We benchmark leading service providers such as Qualcomm, Nokia, and Infineon, evaluating their strengths in workforce capacity, global delivery centers, client engagement models, pricing competitiveness, and digital transformation capabilities. By analyzing company revenues, service portfolios, and client contracts, we derive comparative market shares, competitive positioning and growth trajectories across the ecosystem.


Our integration of data triangulation, contract analysis, and company benchmarking, supported by our proprietary Directional Superposition methodology, ensures us precise forecasts and actionable strategic insights into the Millimeter Wave Technology market.


Quality Assurance and Compliance


We cross-reference secondary data with primary inputs and external expert reviews to confirm consistency. Further, we use stratified sampling, anonymous surveys, third-party interviews, and time-based sampling to reduce bias and strengthen our results.


Our methodology is developed in alignment with ISO 20252 standards and ICC/ESOMAR guidelines for research ethics. The study methodology follows globally recognized frameworks such as ISO 20252 and ICC codes of practice.

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Millimeter Wave Technology Market Data: Size, Segmentation & Growth Forecast

Report AttributeDetails
Market Value in 2024USD 4.5 billion
Revenue Forecast in 2033USD 20.3 billion
Growth RateCAGR of 18.3% from 2024 to 2033
Base Year for Estimation2023
Industry Revenue 20233.8 billion
Growth OpportunityUSD 16.5 billion
Historical Data2018 - 2022
Growth Projection / Forecast Period2024 - 2033
Market Size UnitsMarket Revenue in USD billion and Industry Statistics
Market Size 20233.8 billion USD
Market Size 20266.3 billion USD
Market Size 20288.8 billion USD
Market Size 203012.3 billion USD
Market Size 203320.3 billion USD
Market Size 203528.4 billion USD
Report CoverageMarket revenue for past 5 years and forecast for future 10 years, Competitive Analysis & Company Market Share, Strategic Insights & trends
Segments CoveredType, Component, Application
Regional scopeNorth America, Europe, Asia Pacific, Latin America and Middle East & Africa
Country scopeU.S., Canada, Mexico, UK, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Mexico, Argentina, Saudi Arabia, UAE and South Africa
Companies ProfiledQualcomm, Nokia, Infineon, Bosch, Analog Devices, Qorvo, Smiths Detection, L3Harris, Keysight Technologies, NEC Corporation, Siklu and BridgeWave Communications
CustomizationFree customization at segment, region or country scope and direct contact with report analyst team for 10 to 20 working hours for any additional niche requirement which is almost equivalent to 10% of report value

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Table of Contents

Industry Insights Report - Table Of Contents

Chapter 1

Executive Summary

Major Markets & Their Performance - Statistical Snapshots

Chapter 2

Research Methodology

2.1Axioms & Postulates
2.2Market Introduction & Research MethodologyEstimation & Forecast Parameters / Major Databases & Sources
Chapter 3

Market Dynamics

3.1Market OverviewDrivers / Restraints / Opportunities / M4 Factors
3.2Market Trends
3.2.1Introduction & Narratives
3.2.2Market Trends - Impact Analysis(Short, Medium & Long Term Impacts)
3.3Supply Chain Analysis
3.4Porter's Five ForcesSuppliers & Buyers' Bargaining Power, Threat of Substitution & New Market Entrants, Competitive Rivalry
Chapter 4

Millimeter Wave Technology Market Size, Opportunities & Strategic Insights, by Type

4.1V-Band
4.2E-Band
4.3W-Band
Chapter 5

Millimeter Wave Technology Market Size, Opportunities & Strategic Insights, by Component

5.1Antenna
5.2Transceiver
5.3RF Amplifier
5.4Duplexer
Chapter 6

Millimeter Wave Technology Market Size, Opportunities & Strategic Insights, by Application

6.1Telecommunication
6.2Automotive
6.3Healthcare
6.4Security
6.5Industrial
Chapter 7

Millimeter Wave Technology Market, by Region

7.1North America Millimeter Wave Technology Market Size, Opportunities, Key Trends & Strategic Insights
7.1.1U.S.
7.1.2Canada
7.2Europe Millimeter Wave Technology Market Size, Opportunities, Key Trends & Strategic Insights
7.2.1Germany
7.2.2France
7.2.3UK
7.2.4Italy
7.2.5The Netherlands
7.2.6Rest of EU
7.3Asia Pacific Millimeter Wave Technology Market Size, Opportunities, Key Trends & Strategic Insights
7.3.1China
7.3.2Japan
7.3.3South Korea
7.3.4India
7.3.5Australia
7.3.6Thailand
7.3.7Rest of APAC
7.4Middle East & Africa Millimeter Wave Technology Market Size, Opportunities, Key Trends & Strategic Insights
7.4.1Saudi Arabia
7.4.2United Arab Emirates
7.4.3South Africa
7.4.4Rest of MEA
7.5Latin America Millimeter Wave Technology Market Size, Opportunities, Key Trends & Strategic Insights
7.5.1Brazil
7.5.2Mexico
7.5.3Rest of LA
7.6CIS Millimeter Wave Technology Market Size, Opportunities, Key Trends & Strategic Insights
7.6.1Russia
7.6.2Rest of CIS
Chapter 8

Competitive Landscape

8.1Competitive Dashboard & Market Share Analysis
8.2Company Profiles (Overview, Financials, Developments, SWOT)
8.2.1Qualcomm
8.2.2Nokia
8.2.3Infineon
8.2.4Bosch
8.2.5Analog Devices
8.2.6Qorvo
8.2.7Smiths Detection
8.2.8L3Harris
8.2.9Keysight Technologies
8.2.10NEC Corporation
8.2.11Siklu
8.2.12BridgeWave Communications