worldwide telecom millimeter wave market is expected to reach approximately $5,869 million by the end of 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2017-2026.
In 2017, the telecom millimeter wave industry received maximum returns from the E-band frequency band segment. North America is expected to emerge as the leading revenue contributor to the global market over the estimated time period.
As per the report, the surging need for bandwidth-intensive applications paired with intensifying mobile data traffic has driven the demand for telecom millimeter wave. The increasing penetration of mobile devices and high adoption of mobile-connected devices will also support telecom millimeter wave market growth.
Additionally, the increasing use of telecom millimeter wave in small-cell backhaul networks has further boosted market growth over the years. Vendors’ increasing investment in technological advancements, rising demand from consumer electronics, and expanding usage in security applications would also propel the demand for telecom millimeter wave over the foreseeable years.
However, severe environmental impact and range issues are expected to impede telecom millimeter wave market growth. Moreover, burgeoning demand from developing nations, the high adoption rate of autonomous vehicles, and the applications in 5G technology are predicted to provide market players with several growth opportunities over the coming years.
In terms of regional outlook, the North America telecom millimeter wave market procured the highest revenue in the global landscape in 2017 and is expected to dominate the global market over the coming years. Factors that drive growth in this region include the existence of developed telecom and cloud infrastructure, and the bourgeoning need for mobility services. The growing penetration of mobile devices coupled with technological advancements will further impel market growth in North America. Furthermore, the high acceptance of 4G LTE, and the testing of 5G technology is predicted to boost market growth over the estimated period, cites the report.
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The competitive landscape of the worldwide telecom millimeter wave market comprises of well-known market majors including Siklu Communication Ltd., Millitech, Inc., Farran Technology Ltd., NEC Corporation, LLC, Bridgewave Communications, Inc., E-Band Communications, Sage Millimeter, Inc., LightPointe Communications, Inc., Keysight Technologies, Inc., and Smiths Group PLC. The growth strategies employed by these companies consist of new product launch and collaborations with other market leaders in order to innovate and introduce new products to fulfill the evolving consumer demands.
The report also delivers a comprehensive analysis of telecom millimeter wave market drivers, restraints, and opportunities over the estimated timeline. An in-depth analysis of the market in terms of product, frequency band, end-user spectrum, and regional landscape is also included in the report. In addition to this, company profiles of market majors have been documented in the report under business overview, product benchmarking, financials, and recent developments.