According to a new report Global Telecom Millimeter Wave Technology Market, published by KBV research, The Global Telecom Millimeter Wave Technology Market size is expected to reach $3.1 billion by 2026, rising at a market growth of 34.5% CAGR during the forecast period. Increased government funding and programs, the increasing need for high-speed data transmission, along with the overuse of existing spectrum in the telecommunications industry, and the rising demand for bandwidth-intensive applications are some of the key factors driving the growth of the global telecommunications millimeter (MMW) technology market.
The E-band market dominated the telecommunications millimeter wave technology industry in 2019. The growing application of the E-band frequency is expected to drive the growth of the market. E-band frequencies have a prevalent presence in the field of telecommunications equipment. Whereas V-band frequencies range from 40 GHz to 70 GHz, and the millimeter waves of these bands are especially used in military and defense applications. In addition, V-band frequencies are commonly used in radar and satellite communications.
The Civil segment recorded a dominant market share. The civil segment consists of numerous fields, such as telecommunications, automotive and transport, healthcare and electronics, and semiconductor applications. The growth rate of the civil sector is projected to be strong in the coming years due to the growing demand for high-speed data transmission and connectivity from the residential and commercial sectors, such as data centers and IT offices. The military segment is expected to see the highest growth rate due to the growing adoption of MM modules and sensors in various military and defense applications.
North America dominated the global market. This high market share of the region is attributed to the global propensity to adapt to new technologies. Countries like the U.S. and Canada are one of the leading and early adopters of new and evolving technologies. The Asia-Pacific area is predicted to have the highest CAGR over the projected period. The rapid growth in technology in the area can be attributed to improvements and enhancements in its telecommunications infrastructure.
Structural Insights: https://www.kbvresearch.com/telecom-millimeter-wave-technology-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Cognizant, Ericsson AB, IBM Corporation, Oracle Corporation, Fujitsu Limited, Pegasystems Inc., ChikPea, Comarch, Cerillion, and Neustar, Inc.
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