Millimeter Wave Equipment Market Size & Share, By Product (Millimeter Scanners, Millimeter Radars, Satellite Communication), Application (Defense, Aerospace, Automotive, Telecommunication and Consumer electronics) - Growth Trends, Regional Insights (U.S., Japan, South Korea, UK, Germany), Competitive Positioning, Global Forecast Report 2025-2034

市場の見通し:

Millimeter Wave Equipment Market size is expected to expand from USD 5.14 billion in 2024 to USD 149.74 billion by 2034, demonstrating a CAGR of more than 40.1% between 2025 and 2034. In 2025, the industry revenue is estimated to reach USD 6.79 billion.

• Base Year Value (2024): USD 5.14 billion
• CAGR (2025-2034): 40.1%
• Forecast Year Value (2034): USD 149.74 billion
• Historical Data Period: 2019-2024
• Largest Region: North America
• Forecast Period: 2025-2034

市場動向:

Growth Drivers & Opportunities:

The millimeter wave equipment market is experiencing substantial growth driven by the increasing demand for high-speed data transmission and enhanced bandwidth capabilities. The rise of advanced wireless communication technologies, such as 5G, plays a pivotal role in this expansion, with millimeter wave frequencies enabling faster data rates and reducing latency. This technological advancement has encouraged telecommunications companies to invest heavily in infrastructure that supports millimeter wave technology, thus creating numerous opportunities for equipment manufacturers and suppliers.

Another significant driver is the surge in demand from various sectors, such as automotive, aerospace, and defense. As the automotive industry embraces autonomous vehicles, the need for accurate radar and sensing systems has spurred demand for millimeter wave equipment, which offers precision and reliability in various applications. Additionally, the ongoing development of smart cities and the Internet of Things (IoT) ecosystems further fosters the adoption of millimeter wave technology. These systems require robust connectivity solutions to manage the extensive data generated by interconnected devices, leading to a broad market potential.

Report Scope

Report Coverage	Details
Segments Covered	Product, Application
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Keysight Technologies, Anritsu Corporation, Rohde & Schwarz, VIAVI Solutions, National Instruments, Teledyne LeCroy, Orolia, Qorvo, Skyworks Solutions, Huawei Technologies

Industry Restraints:

Despite the promising growth prospects, the millimeter wave equipment market faces several challenges. One primary restraint is the high cost associated with the development and deployment of millimeter wave technology. The expenses linked to the design, manufacturing, and installation of such systems can pose significant barriers to entry for smaller companies and may deter potential clients from adopting these advanced solutions.

Furthermore, the limitations in range and penetration capabilities of millimeter waves are notable concerns. These frequencies tend to have a shorter range and can be affected by environmental factors, raising issues for widespread application in urban settings where obstacles like buildings may hinder performance. Additionally, regulatory challenges and the need for licensing in various regions can slow down the market's growth, as companies must navigate the complexities of compliance with evolving guidelines. These factors collectively pose a challenge to the sustained expansion of the millimeter wave equipment market.

地域別予報:

North America

The millimeter wave equipment market in North America is predominantly driven by the United States, which hosts a robust technological landscape and is home to key players in telecommunications and defense. The push for advanced 5G networks and the integration of millimeter wave technology in consumer electronics are pivotal in driving market growth. Canada is also emerging as a significant player, fueled by government investments in broadband infrastructure and the growth of smart cities. The focus on innovative research initiatives and early adoption of related technologies positions North America as a major region in the millimeter wave market.

Asia Pacific

Asia Pacific is anticipated to showcase the fastest growth in the millimeter wave equipment market, particularly in countries like China, Japan, and South Korea. China stands out with its aggressive rollout of 5G networks and substantial investments in technological advancements, positioning itself as a global leader in telecommunications. Japan is leveraging its technological prowess to enhance the development of millimeter wave applications, especially in the automotive and consumer electronics sectors. South Korea, known for its sophisticated tech infrastructure and early 5G deployment, is also set to contribute significantly to the market expansion in the region, thanks to its focus on enhanced network capabilities and innovation.

Europe

In Europe, Germany, the UK, and France represent key markets for millimeter wave technology. Germany is leading the way with strong automotive engineering sectors supporting the adoption of millimeter wave applications for advanced driver-assistance systems and autonomous vehicles. The UK, with its growing number of tech startups and innovations in telecommunications, is increasingly adopting millimeter wave technology for various applications, including smart cities and enhanced connectivity solutions. France, backed by government initiatives promoting digital transformation and smart technology, is also expected to experience growth, although it may not match the pace of Germany and the UK. Overall, Europe is focusing on balancing technological advancement with regulatory frameworks, which shapes the market dynamics in the region.

セグメンテーション分析:

In terms of segmentation, the global Millimeter Wave Equipment market is analyzed on the basis of Product, Application.

Product Segmentation

In the Millimeter Wave Equipment Market, product segmentation plays a crucial role in determining market dynamics. Key products include antennas, devices such as transmitters and receivers, and testing equipment. Among these, antennas are expected to exhibit significant market size due to their critical role in facilitating high-frequency communications. Furthermore, advancements in antenna technologies, including phased arrays and beamforming techniques, are propelling growth in this sub-segment. Testing equipment is gaining traction as well, driven by the need for rigorous quality assurance and performance validation of millimeter wave technologies in various applications. The growing demand for high-speed connectivity and the rollout of 5G infrastructure are invigorating these product categories.

Application Segmentation

The application segmentation within the Millimeter Wave Equipment Market encompasses areas such as telecommunications, automotive, healthcare, and aerospace and defense. Telecommunications stands out as a dominant application due to the rapid expansion of 5G networks, which leverage millimeter wave technology to deliver exceptional bandwidth and speed. This segment is projected to experience robust growth as service providers aim to enhance user experience through reliable connectivity. The automotive sector is also gaining momentum, particularly with the rise of connected vehicles and autonomous driving technologies, which require high-resolution sensing and communication capabilities enabled by millimeter wave solutions. Healthcare applications, including imaging and diagnostic equipment, are likely to show increased adoption, leveraging the technology for precise and rapid data transmission.

競争環境:

The competitive landscape in the Millimeter Wave Equipment Market is characterized by rapid technological advancements and increasing demand for high-speed data transmission across various sectors, including telecommunications, automotive, and aerospace. Companies are focusing on product innovations, strategic partnerships, and mergers and acquisitions to enhance their market presence and expand their service offerings. The growing adoption of 5G technology is driving significant investments in millimeter wave solutions, leading to intense competition among key players. Additionally, the rise of Internet of Things (IoT) applications is further propelling the demand for millimeter wave equipment, compelling firms to develop comprehensive solutions that cater to a wide range of industrial needs.

Top Market Players

1. Qualcomm Technologies Inc.

2. Ericsson

3. Nokia

4. IBM Corporation

5. Keyssa Inc.

6. Broadcom Inc.

7. Infineon Technologies AG

8. NEC Corporation

9. Ruckus Networks (a CommScope company)

10. L3Harris Technologies Inc.