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The global market for millimeter wave technology equipment will exhibit promising growth and post an impressive CAGR of over 47% by 2020. According to Technavio’s market research analyst, the prospects for growth in this market will be affected by the deployment of next-generation LTE wireless networks. The recent increase in the global data consumption has led to the high adoption of LTE wireless networks like 4G, and the growing number of global commercial networks has made LTE the fastest developing mobile technology. Since RF components, including millimeter wave equipment, are used to support different standards, applications, band combinations, and mobile operators' requirements, its demand among the LTE wireless network service providers is anticipated to rise substantially over the next few years.
Another key factor that spurs market growth is the recent growth in mobile data traffic. According to Technavio’s market research analyst, the average smartphone usage grew by 43% year-over-year in 2015. It was also noted that during the same time, mobile traffic data per tablet was 2,576 MB per month when compared to 929 MB per month per smartphone. It was also noted that the average non-smartphone usage rose to 23 MB per month in 2015, from 16 MB per month in 2014. This increase in the mobile data traffic will lead to the augmented demand for better network connections, which, in turn, will result in the growing need for equipment, such as millimeter wave equipment, to facilitate access to better network connections.
The level of competition in this market is fierce as it is characterized by the influx of several new vendors. Consequently, to survive in this market, vendors have been compelled to distinguish their product and service offerings through clear and unique value propositions. Additionally, factors such as performance, innovation, product features, quality, low cost, selling price, distribution, and financial stability also play a crucial role in affecting the vendor’s hold over the market.
Key vendors in this market are -
Other prominent vendors analyzed in this market study are Agilent Technologies, Aviat Networks, CableFree (Acquired by Wireless Excellence Ltd.), Fujitsu, GigaBeam, Huawei Technologies, L-3 Communications Holdings, Lightpointe Communications, Loea, Brijot Imaging Systems, Inc. (Acquired by Microsemi), Millitech, Millivision Technologies, Millimeter Wave Products, Northrop Grumman, Pulse~LINK, SIAE Microelettronica, Smiths Group, Sub10 Systems, Tensorcom, Vubiq Networks, and Wasa.
At present, the small cell backhaul application segment dominates this market and is anticipated to retain its dominating hold over the market until the end of 2020. Much of this market segment’s growth can be attributed to the ability of small cell backhaul to radios to offer interference-free 4G service, enables users to deploy radios along with integrated advanced networking solutions.
By 2020, the Americas is envisaged to account for the largest market share owing to the proliferation of smart TVs, high adoption of smartphones, and emerging technologies like the IoT. Furthermore, with the growing proliferation of smartphones and 4G network, the demand for more spectrum space in the telecom sector will increase. This need for a higher spectrum space across the telecom sector will, in turn, foster the need for millimeter wave technology equipment in this region.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05:G presence and prospects
PART 06: Mobile backhaul technology overview
PART 07: Market landscape
PART 08: Market segmentation by application
PART 09: Geographical segmentation
PART 10: Market drivers
PART 11: Impact of drivers
PART 12: Market challenges
PART 13: Impact of drivers and challenges
PART 14: Market trends
PART 15: Vendor landscape
PART 16: Market summary
PART 17: Appendix
PART 18: Explore Technavio
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