5G mmWave Technology Market by Application and Geography - Forecast and Analysis 2022-2026

The 5G MmWave technology market share is expected to increase to USD 674.1 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 31.8%.

This 5G MmWave technology market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers 5G MmWave technology market segmentation by application (wired/fiber connection replacement, cellular backhaul/fronthaul, and others) and geography (North America, Europe, APAC, Middle East and Africa, and South America). The 5G MmWave technology market report also offers information on several market vendors, including Anokiwave Inc., Aviat Networks Inc., Axxcss Wireless Solutions Inc., Cambium Networks Corp., Eravant, Farran, IgniteNet, Keysight Technologies Inc., Kyocera Corp., L3Harris Technologies Inc., Millimeter Wave Products Inc., NEC Corp., Proxim Wireless Corp., QuinStar Technology Inc., RAD Data Communications Ltd., Siklu Inc., Smiths Group Plc, Spacek Labs Inc., Trex Enterprises Corp., Vubiq Networks Inc., and Wireless Excellence Ltd. among others.

What will the 5G MmWave Technology Market Size be During the Forecast Period?

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5G MmWave Technology Market: Key Drivers, Trends, and Challenges

The rising demand for high-speed networks is notably driving the 5G MmWave technology market growth, although factors such as uncertain economic conditions may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the 5G MmWave technology industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key 5G MmWave Technology Market Driver

One of the key factors driving growth in the 5G MmWave technology market is the rising demand for high-speed networks. The prominent vendors in the market in focus are working on implementing 5G MmWave technology in order to satisfy the capacity requirements of 5G networks which have resulted due to the rise in Internet consumption and the need for bandwidth and speed-boosting technologies. The increase in the number of Internet users and the rising demand for high-speed networks has positively impacted the growth of the global 5G mmWave technology market. The growing dependence on smartphones has increased Internet consumption drastically. The availability of different network standards on a smart device, such as the global system for mobiles (GSM), code-division multiple access (CDMA), and LTE/5G, have augmented the growth of the global 5G mmWave technology market. Factors such as the growing demand for high-speed networks and growing Internet penetration in various countries worldwide will drive the growth of the global 5G mmWave technology market.

Key 5G MmWave Technology Market Trend

The proliferation of next-generation LTE wireless networks is a 5G MmWave technology market trend that is expected to have a positive impact in the coming years. The surge in data consumption has forced network carriers to adopt next-generation LTE networks such as 5G, making LTE the mobile technology of the future. The increased deployment of high-speed telecommunication networks will lead to the launch of consumer electronics capable of supporting these networks. LTE-based computing devices offer speed and processing capabilities that enable consumers to access video content, social media, online games, and web browsing on a single device. They can also play games and watch TV shows online on maximum frequency bands without any interference. This has created an opportunity in the market for 5G mmWave technology to address the requirement for faster and smoother access to mobile data. Therefore, the deployment of 5G mmWave technology is expected to assist LTE wireless networks in providing better services, leading to revenue growth, which, in turn, will drive the growth of the global 5G mmWave technology market.

Key 5G MmWave Technology Market Challenge

The uncertain economic conditions will be a major challenge for the 5G MmWave technology market during the forecast period. The growth of the global 5G mmWave technology market is dependent on the capital expenditure (CAPEX) of vendors. This expenditure comes from the retained earnings of companies. However, the global economy is plagued by uneven market prospects. For instance, Britain's exit from the EU caused a sharp decline in the growth of the global market. As the pandemic continued to expand in 2021, the manufacturing aspects of several end-users of 5G mmWave technology, such as the communications, military, and aerospace sectors, were affected due to the economic slowdown. The airlines of various countries incurred losses as flights were canceled due to travel restrictions. The other end-user industries, such as automotive and transport, were also negatively affected by the pandemic during 2020-2021. These factors negatively impacted the global 5G mmWave technology market.

This 5G MmWave technology market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global fifth-generation (5G) millimeter-wave (mmWave) technology market as a part of the global communications equipment market under the overall global information technology sector. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the 5G mmwave technology market during the forecast period.

Who are the Major 5G MmWave Technology Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Anokiwave Inc.
• Aviat Networks Inc.
• Axxcss Wireless Solutions Inc.
• Cambium Networks Corp.
• Eravant
• Farran
• IgniteNet
• Keysight Technologies Inc.
• Kyocera Corp.
• L3Harris Technologies Inc.
• Millimeter Wave Products Inc.
• NEC Corp.
• Proxim Wireless Corp.
• QuinStar Technology Inc.
• RAD Data Communications Ltd.
• Siklu Inc.
• Smiths Group Plc
• Spacek Labs Inc.
• Trex Enterprises Corp.
• Vubiq Networks Inc.
• Wireless Excellence Ltd.

 

This statistical study of the 5G mmwave technology market encompasses successful business strategies deployed by the key vendors. The 5G mmwave technology market is fragmented and the vendors are deploying growth strategies such as adopting growth strategies for improving their portfolio of products by integrating more optimized technology and increasing their market penetration by acquiring other companies to compete in the market.

Product Insights and News

• Aviat Networks Inc. - Aviat Networks Inc. is a public company headquartered in US. It is a global company generating $274.91 million in revenues and has around 687 employees. Its revenue from the global 5G mmWave technology market contributes to its overall revenues along with its other offerings, but it is not a key revenue stream for the company. 
• Aviat Networks Inc. - The company offers 5G mmwave solutions such as urban backhaul. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The 5G mmwave technology market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

5G MmWave Technology Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the 5G mmwave technology market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for 5G MmWave Technology Market?

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39% of the market's growth will originate from North America during the forecast period. The US is the key market for 5G mmwave technology in North America. Market growth in this region will be faster than the growth of the market in the European, APAC, and MEA regions.

The higher adoption of 5G mmWave technology for mobile and telecom applications will facilitate the 5G mmwave technology market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the negative impact of COVID-19 on the regional market in focus resulted in delayed installations and implementation of 5G networks across the region. Furthermore, due to the nationwide lockdowns in North America, almost all manufacturing facilities of market vendors were shut down. However, in H2 2021, due to the introduction of COVID-19 vaccines, the number of COVID-19 cases in the region declined. This led to the lifting of COVID-19-related restrictions. The regional 5G mmWave technology recovered from the negative impacts of the pandemic with the reopening of manufacturing facilities of market vendors. 

What are the Revenue-generating Application Segments in the 5G MmWave Technology Market?

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The 5G mmwave technology market share growth by the wired/fiber connection replacement segment will be significant during the forecast period. The demand for 5G mmWave technology in the communication sector is high owing to the gradual replacement of wired/fiber connections with 5G network infrastructure. The growing demand for efficient communication networks in developing economies and the development of multiple smart city projects have increased the deployment of 5G networks that have replaced wired/fiber connections. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the 5G mmwave technology market size and actionable market insights on post COVID-19 impact on each segment.

 

5G MmWave Technology Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 31.8%
Market growth 2022-2026	$ 674.1 million
Market structure	Fragmented
YoY growth (%)	30.5
Regional analysis	North America, Europe, APAC, Middle East and Africa, and South America
Performing market contribution	North America at 39%
Key consumer countries	US, China, Japan, Germany, and UK
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Anokiwave Inc., Aviat Networks Inc., Axxcss Wireless Solutions Inc., Cambium Networks Corp., Eravant, Farran, IgniteNet, Keysight Technologies Inc., Kyocera Corp., L3Harris Technologies Inc., Millimeter Wave Products Inc., NEC Corp., Proxim Wireless Corp., QuinStar Technology Inc., RAD Data Communications Ltd., Siklu Inc., Smiths Group Plc, Spacek Labs Inc., Trex Enterprises Corp., Vubiq Networks Inc., and Wireless Excellence Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this 5G MmWave Technology Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive 5G mmwave technology market growth during the next five years
• Precise estimation of the 5G mmwave technology market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the 5G mmwave technology industry across North America, Europe, APAC, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of 5G mmwave technology market vendors

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