Millimeter Wave Technology Market Size, Share & Companies (2025 - 2031)

The Millimeter Wave Technology Market Share and Analysis, and It is Segmented by Type of Component (Antennas and Transceiver, Communications & Networking Components, Interface, Frequency and Related Components, Imaging, and Other Components), Licensing Model (Fully/Partly Licensed and Unlicensed), and Geography (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Millimeter Wave Technology Market Size, Share & Companies (2025 - 2031)

Millimeter Wave Technology Market Size

Millimeter Wave Technology Market Summary
Study Period 2019 - 2031
Market Size (2025) USD 4.52 Billion
Market Size (2031) USD 16.93 Billion
CAGR (2025 - 2031) 24.60 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Low

Major Players

Millimeter Wave Technology Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Millimeter Wave Technology Market Analysis

The Millimeter Wave Technology Market size is estimated at USD 4.52 billion in 2025, and is expected to reach USD 16.93 billion by 2031, at a CAGR of 24.6% during the forecast period (2025-2031).

The millimeter wave technology landscape is experiencing rapid transformation driven by increasing demands from connected devices and emerging applications. According to GSMA, 5G adoption is anticipated to reach approximately one billion connections by 2030, with the technology expected to add almost USD 1 trillion to the global economy. The technology's capability to accommodate massive data demands from connected homes, AR/VR devices, cloud gaming systems, and other cloud-connected devices is reshaping the industry landscape. Particularly significant is the ability of mmWave bands above 50 GHz to provide over 20 GHz additional bandwidth in large chunks, enabling substantially higher data rates for next-generation applications.


The industry is witnessing significant technological advancements and strategic initiatives among key players. In October 2023, a notable breakthrough occurred when Malaysia's Digital Nasional Berhad partnered with Telekom Malaysia and ZTE Corporation to conduct a 5G trial achieving speeds up to 28 Gbps using mmWave active antenna technology. This development demonstrates the technology's potential in delivering ultra-high-speed connectivity. The industry is also seeing strategic consolidations, as evidenced by Marki Microwave's acquisition of Precision Millimeter Wave LLC's waveguide business in August 2023, expanding the availability of commercial waveguide products and custom solutions.


Global regulatory frameworks are evolving to support mmWave technology deployment. As of April 2023, the United States led global implementation with 503 cities adopting 5G network access, compared to China's 356 cities, highlighting the technology's growing mainstream adoption. Traditional wireless bands, particularly 26 GHz and 28 GHz, are being reallocated from backhaul to 5G radio access, though this transition presents challenges for operators maintaining existing 3G and 4G network backhaul operations. The industry is actively addressing these challenges through innovative solutions and regulatory adaptations.


The market is characterized by an increasing focus on hardware optimization and efficiency improvements. High-performing millimeter wave devices require efficient low-profile antennas to ensure reliable and interference-free communications. The technology's small wavelength necessitates large antenna arrays packed into miniature physical dimensions, driving innovation in antenna design and manufacturing. These technical requirements are spurring the development of sophisticated solutions for real-time gaming, high-quality video streaming, and other bandwidth-intensive applications, creating demand for various antenna types including microstrip, on-chip integrated horn, lens, and reflector configurations.

Segment Analysis: By Type of Component

Antennas & Transceiver Segment in Millimeter Wave Technology Market

The millimeter wave antenna and millimeter wave transceiver segment maintains its dominant position in the millimeter wave technology market, commanding approximately 31% market share in 2024. This leadership position is driven by the crucial role these components play in enabling high-speed wireless communications and 5G network infrastructure. The segment's growth is particularly evident in applications such as mobile devices, wireless backhaul systems, and fixed wireless access equipment. Major telecommunications companies are increasingly deploying these components to enhance their network capabilities and coverage. The segment's prominence is further reinforced by ongoing technological advancements in antenna design and transceiver efficiency, enabling better performance in challenging environments and longer transmission ranges.

Market Analysis of Millimeter Wave Technology Market: Chart for By Type of Component

Imaging Segment in Millimeter Wave Technology Market

The millimeter wave imaging segment is emerging as the fastest-growing segment in the millimeter wave technology market, with a projected growth rate of approximately 28% from 2024 to 2029. This remarkable growth is primarily driven by increasing adoption in security applications, particularly in airports and high-security facilities. The segment's expansion is further fueled by growing applications in medical imaging, industrial inspection, and quality control processes. Advanced imaging solutions using millimeter wave technology are gaining traction due to their ability to provide high-resolution imaging through various materials and in challenging environmental conditions. The technology's non-invasive nature and ability to detect concealed objects make it particularly valuable for security screening applications.

Remaining Segments in Millimeter Wave Technology Market

The remaining segments, including Communications and Networking, Interface, Frequency and Related Components, and Other Components, each play vital roles in the overall millimeter wave technology ecosystem. The Communications and Networking segment is particularly significant in supporting 5G infrastructure and wireless backhaul applications. The Interface segment focuses on providing crucial connectivity solutions for various applications, while Frequency and Related Components contribute to signal processing and transmission capabilities. These segments collectively support diverse applications across telecommunications, automotive, industrial, and consumer electronics sectors, with each segment addressing specific technical requirements and use cases in the millimeter wave technology landscape.

Segment Analysis: By Licensing Model

Fully/Partly Licensed Segment in Millimeter Wave Technology Market

The fully/partly licensed segment dominates the millimeter wave technology market, commanding approximately 74% market share in 2024. This significant market presence is primarily driven by the increasing adoption of licensed spectrum bands for 5G deployments and critical communications infrastructure. Regulatory authorities worldwide are actively allocating and managing licensed spectrum bands, particularly in the 26 GHz, 28 GHz, and 38 GHz ranges, to ensure reliable and interference-free operations for telecommunications providers. The segment's prominence is further strengthened by major telecom operators' preference for licensed spectrum to deliver guaranteed quality of service for their 5G networks, particularly in urban areas and high-density locations where network reliability is crucial.

Unlicensed Segment in Millimeter Wave Technology Market

The unlicensed segment is emerging as the fastest-growing category in the millimeter wave technology market, with a projected growth rate of approximately 26% during the forecast period 2024-2029. This remarkable growth is primarily attributed to the increasing adoption of unlicensed mmWave bands for various applications, including wireless backhaul, fixed wireless access, and IoT connectivity solutions. The segment's growth is further accelerated by the rising deployment of V-band (60 GHz) solutions for short-range, high-capacity communications, particularly in urban environments. The flexibility and cost-effectiveness of unlicensed spectrum deployment, coupled with technological advancements in interference mitigation and beam-forming capabilities, are making unlicensed mmWave solutions increasingly attractive for both enterprise and consumer applications.

Millimeter Wave Technology Market Geography Segment Analysis

Millimeter Wave Technology Market in North America

North America represents a crucial market for millimeter wave technology, driven by extensive 5G deployment initiatives and significant investments in wireless infrastructure. The region's leadership in mobile communications is supported by sustained investment in networks and radiofrequency spectrum. The United States and Canada are actively expanding their 5G networks, with telecom operators focusing on utilizing millimeter wave frequencies for enhanced network capacity and coverage. The region's technological advancement is further bolstered by strong regulatory frameworks and collaborative efforts between government agencies and private sector organizations in developing and implementing millimeter wave solutions.

Market Analysis of Millimeter Wave Technology Market: Forecasted Growth Rate by Region

Millimeter Wave Technology Market in the United States

The United States dominates the North American millimeter wave technology market, holding approximately 84% market share in 2024. The country's market leadership is driven by aggressive 5G deployment strategies and substantial investments in wireless infrastructure. The Federal Communications Commission (FCC) has played a pivotal role in allocating and auctioning millimeter wave frequency bands for both licensed and unlicensed use, particularly in the 28 GHz, 37 GHz, 39 GHz, and 47 GHz bands. Major telecommunications providers like Verizon, AT&T, and T-Mobile are actively deploying commercialized mmWave services for 5G networks in urban areas, focusing on delivering ultra-fast internet speeds and low latency connectivity.

Millimeter Wave Technology Market in Canada

Canada emerges as the fastest-growing market in North America, with a projected growth rate of approximately 26% during 2024-2029. The country's growth is fueled by increasing adoption of 5G technology and supportive regulatory frameworks established by Innovation, Science and Economic Development Canada (ISED). Canadian authorities are actively working on spectrum allocation and licensing procedures for millimeter wave frequencies, particularly in the 26 GHz, 28 GHz, and 38 GHz bands. The country's focus on developing smart cities and implementing advanced wireless technologies in various sectors, including manufacturing and telecommunications, continues to drive market expansion. Canadian telecom operators are increasingly investing in millimeter wave technology to enhance their network capabilities and meet growing demand for high-speed wireless connectivity.

Millimeter Wave Technology Market in Europe

Europe demonstrates strong commitment to millimeter wave technology adoption, with various countries implementing strategic initiatives to accelerate 5G deployment and digital transformation. The region's market is characterized by robust regulatory frameworks and collaborative efforts between government agencies and private sector organizations. The European telecommunications landscape is witnessing increased investment in millimeter wave infrastructure, particularly in key markets like the United Kingdom, Germany, and France, with each country developing unique approaches to spectrum allocation and network deployment strategies.

Millimeter Wave Technology Market in the United Kingdom

The United Kingdom leads the European market, commanding approximately 32% market share in 2024. Under the guidance of the Office of Communications (Ofcom), the country has established comprehensive regulatory frameworks for millimeter wave technology deployment. The UK's market leadership is supported by significant investments in 5G infrastructure and strategic initiatives to enhance digital connectivity across urban and rural areas. The country's focus on developing innovative millimeter wave applications across various sectors, including telecommunications, healthcare, and transportation, continues to drive market growth.

Millimeter Wave Technology Market in Germany

Germany represents the fastest-growing market in Europe, with a projected growth rate of approximately 25% during 2024-2029. The country's growth is driven by strong industrial adoption of millimeter wave technology and significant investments in 5G infrastructure. The Federal Network Agency (BNetzA) plays a crucial role in spectrum allocation and licensing procedures, facilitating the deployment of millimeter wave technology across various sectors. German industries, particularly in manufacturing and automotive sectors, are increasingly adopting millimeter wave technology for advanced wireless applications and Industry 4.0 initiatives.

Millimeter Wave Technology Market in Asia-Pacific

The Asia-Pacific region represents a dynamic market for millimeter wave technology, characterized by rapid technological adoption and significant investments in digital infrastructure. Countries like China, Japan, India, and South Korea are at the forefront of implementing 5G networks and advancing millimeter wave technology applications. The region's diverse market landscape is shaped by varying regulatory frameworks, technological capabilities, and digital transformation initiatives across different countries.

Millimeter Wave Technology Market in China

China leads the Asia-Pacific market in millimeter wave technology adoption, driven by extensive 5G deployment initiatives and strong government support. The country's leadership is reinforced by the presence of major telecommunications equipment manufacturers and significant investments in digital infrastructure. Chinese authorities are actively promoting the development and implementation of millimeter wave technology across various sectors, including telecommunications, manufacturing, and smart city applications.

Millimeter Wave Technology Market in India

India emerges as the fastest-growing market in the Asia-Pacific region, driven by rapid digitalization initiatives and increasing adoption of 5G technology. The country's growth is supported by government policies promoting digital transformation and significant investments in telecommunications infrastructure. Indian telecom operators are actively expanding their millimeter wave technology capabilities, particularly in urban areas, while also focusing on developing innovative millimeter wave applications across various sectors including manufacturing, healthcare, and smart cities.

Millimeter Wave Technology Market in Middle East & Africa

The Middle East & Africa region demonstrates growing adoption of millimeter wave technology, driven by increasing demand for high-speed connectivity and digital transformation initiatives. The region's market development is supported by government investments in smart city projects and telecommunications infrastructure. While facing unique geographical and infrastructure challenges, countries in this region are increasingly recognizing the potential of millimeter wave technology in advancing their digital economies. The United Arab Emirates leads the regional market, while South Africa shows the fastest growth potential, supported by increasing investments in 5G infrastructure and digital transformation initiatives.

Millimeter Wave Technology Market in Latin America

Latin America shows promising growth in millimeter wave technology adoption, driven by increasing demand for high-speed connectivity and digital services. The region's market is characterized by growing investments in 5G infrastructure and rising smartphone penetration rates. Countries across Latin America are actively working to modernize their telecommunications infrastructure and implement advanced wireless technologies. Brazil emerges as the largest market in the region, while Mexico demonstrates the fastest growth potential, supported by increasing investments in digital infrastructure and growing demand for advanced wireless solutions across various sectors including manufacturing, telecommunications, and smart city applications.

Millimeter Wave Technology Market Overview

Top Companies in Millimeter Wave Technology Market

The millimeter wave technology market features established players like NEC Corporation, Keysight Technologies, L3Harris Technologies, and Smiths Interconnect Group leading innovation and market development. Companies are heavily investing in research and development to advance their product portfolios, particularly focusing on 5G infrastructure components, testing equipment, and specialized antenna systems. Strategic collaborations with telecom operators and system integrators have become increasingly common to accelerate technology deployment and market penetration. Market leaders are expanding their geographical presence through distributor networks while simultaneously developing customized solutions for specific industry verticals. The competitive landscape is characterized by continuous product launches focusing on improved performance, reduced size, and enhanced integration capabilities, particularly in areas such as base station equipment, measurement devices, and communication systems.

Consolidated Market with Strong Technical Barriers

The millimeter wave technology market demonstrates a relatively consolidated structure dominated by large multinational corporations with extensive research capabilities and established market presence. These companies leverage their technical expertise, manufacturing capabilities, and global distribution networks to maintain their market positions. The high entry barriers, primarily due to substantial investment requirements in research and development, specialized manufacturing facilities, and intellectual property rights, limit new entrants. The market has witnessed strategic acquisitions and partnerships, particularly among technology providers and telecommunications companies, aimed at expanding product portfolios and accessing new geographical markets.


The competitive dynamics are shaped by the presence of both diversified technology conglomerates and specialized millimeter wave solutions providers. While the global players focus on broad market coverage and integrated solutions, specialized companies target specific applications or regional markets with customized offerings. The industry has seen increased collaboration between hardware manufacturers and software developers to create comprehensive solutions, particularly for 5G deployment and industrial applications. Market participants are also establishing strategic partnerships with research institutions and universities to advance their technological capabilities and maintain competitive advantages.

Innovation and Customization Drive Future Success

Success in the millimeter wave technology market increasingly depends on companies' ability to innovate and adapt to rapidly evolving customer requirements. Market leaders are focusing on developing modular and scalable solutions that can be customized for different applications while maintaining cost-effectiveness. The ability to provide end-to-end solutions, including hardware, software, and services, is becoming crucial for maintaining competitive advantage. Companies are also investing in building strong relationships with key customers in telecommunications, defense, and industrial sectors, while simultaneously exploring emerging millimeter wave applications in automotive and healthcare markets.


Future market success will be significantly influenced by companies' ability to navigate regulatory requirements across different regions and maintain compliance with evolving standards. The increasing focus on security and reliability in millimeter wave communications presents both challenges and opportunities for market participants. Companies that can effectively address these concerns while maintaining competitive pricing will likely gain millimeter wave technology market share. Additionally, the ability to provide comprehensive technical support and after-sales services is becoming increasingly important as end-users seek reliable partners for their long-term technology deployment plans. Market players must also maintain flexibility in their manufacturing and supply chain operations to respond to changing market demands and potential disruptions.

Millimeter Wave Technology Market Leaders

  1. Siklu Communication Ltd (Ceragon Networks Ltd)

  2. Bridgewave Communications Inc. (Remec Broadband Wireless International)

  3. E-band Communications LLC (Axxcss Wireless Solutions Inc.)

  4. Millimeter Wave Products Inc.

  5. Ducommun Incorporated

  6. *Disclaimer: Major Players sorted in no particular order
Millimeter Wave Technology Market Conc.jpg
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Millimeter Wave Technology Market News

  • November 2023 - Throughout the UK, localities were aided in adopting advanced wireless technologies and enhancing their digital connectivity, including drones to monitor livestock and crops, smart systems to decrease congestion, and moveable 5G networks to allow super-fast live programs from remote locations. The ten multi-local authority zones across all four parts of the UK will obtain a share of EUR 36 million (USD 38.95 million) as they develop into 5G Innovation Regions (5GIRs). The capital will drive the adoption and development of advanced wireless technologies, including 5G, ensuring groups in cities, towns, and rural areas fully benefit from the benefits advanced digital technologies and wireless connectivity can provide and attract commercial investment to develop the economy.
  • August 2023 - Fujitsu announced the new millimeter-wave chip for 5G that supports multibeam multiplexing, allowing up to four beams to be multiplexed by a single millimeter-wave chip for the radio units of 5G base stations. The development was a crucial part of the "Research and Development Project of the Enhanced Infrastructures for Post-5G Information and Communication Systems" commissioned by Japan's New Energy and Industrial Technology Development Organization (NEDO).

Millimeter Wave Technology Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS

  • 4.1 Market Overview
  • 4.2 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.2.1 Bargaining Power of Suppliers
    • 4.2.2 Bargaining Power of Buyers
    • 4.2.3 Threat of New Entrants
    • 4.2.4 Intensity of Competitive Rivalry
    • 4.2.5 Threat of Substitute Products
  • 4.3 Assessment of Impact of COVID-19 on the Industry
  • 4.4 Significance of GaN Across mmWave Applications
  • 4.5 mmWave Substrate Landscape (to Include Coverage on mmWave Substrates Such as LCP, PI, and PTFE, along With Their Impact on 5G Infrastructure, Including Base Stations, Phones, and Peripherals)

5. MARKET DYNAMICS

  • 5.1 Market Drivers
    • 5.1.1 Proliferation of Wireless Backhaul of Base Stations
    • 5.1.2 Evolution of 5G is Expected to Drive the Market
  • 5.2 Market Challenges/Restraints
    • 5.2.1 Need for Manufacturing of Compatible Components and Rising Cost of Components
    • 5.2.2 Technological Vulnerabilities Leading to Reduced Wave Strength

6. MARKET SEGMENTATION

  • 6.1 By Type of Component
    • 6.1.1 Antennas and Transceiver
    • 6.1.2 Communications and Networking
    • 6.1.3 Interface
    • 6.1.4 Frequency and Related Components
    • 6.1.5 Imaging
    • 6.1.6 Other Components
  • 6.2 By Licensing Model
    • 6.2.1 Fully/Partly Licensed
    • 6.2.2 Unlicensed
  • 6.3 By Geography***
    • 6.3.1 North America
    • 6.3.1.1 United States
    • 6.3.1.2 Canada
    • 6.3.2 Europe
    • 6.3.2.1 United Kingdom
    • 6.3.2.2 Germany
    • 6.3.2.3 France
    • 6.3.3 Asia
    • 6.3.3.1 China
    • 6.3.3.2 Japan
    • 6.3.3.3 India
    • 6.3.3.4 South Korea
    • 6.3.4 Middle East and Africa
    • 6.3.5 Latin America

7. COMPETITIVE LANDSCAPE

  • 7.1 Company Profiles*
    • 7.1.1 Siklu Communication Ltd (Ceragon Networks Ltd)
    • 7.1.2 Bridgewave Communications Inc. (REMEC Broadband Wireless Networks LLC)
    • 7.1.3 E-band Communications LLC (Axxcss Wireless Solutions Inc.)
    • 7.1.4 Millimeter Wave Products Inc.
    • 7.1.5 Ducommun Incorporated
    • 7.1.6 Eravant (SAGE Millimeter Inc.)
    • 7.1.7 Keysight Technologies Inc.
    • 7.1.8 Farran Technology Ltd
    • 7.1.9 Smiths Interconnect Group Limited
    • 7.1.10 NEC Corporation
    • 7.1.11 L3Harris Technologies Inc.

8. INVESTMENT ANALYSIS

9. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
***In the final report, Asia, Australia, and New Zealand will be studied together as 'Asia Pacific' and Latin America and Middle East and Africa will be considered together as 'Rest of the World'
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Millimeter Wave Technology Market Industry Segmentation

The millimeter wave technology market is defined based on the revenues generated from the various mmWave technology components used in various end-user applications. The analysis is based on the market insights captured through secondary research and the primaries. The market also covers the major factors impacting the growth of the market in terms of drivers and restraints. The scope of the study is based on the type of the component (antennas and transceivers, communications and networking, interface, frequency, and related components, imaging, and other components) and the Licensing Model (fully/partially licensed and unlicensed).

The millimeter wave technology market is segmented by type of component (antennas & transceiver, communications & networking components, interface, frequency & related components, imaging, and other components), licensing model (fully/partly licensed and unlicensed), and geography (North America [United States, Canada], Europe [United Kingdom, Germany, France, Rest of Europe], Asia-Pacific [China, Japan, India, South Korea, Rest of Asia-Pacific], Middle East and Africa, Latin America). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.

By Type of Component Antennas and Transceiver
Communications and Networking
Interface
Frequency and Related Components
Imaging
Other Components
By Licensing Model Fully/Partly Licensed
Unlicensed
By Geography*** North America United States
Canada
Europe United Kingdom
Germany
France
Asia China
Japan
India
South Korea
Middle East and Africa
Latin America
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Millimeter Wave Technology Market Research FAQs

How big is the Millimeter Wave Technology Market?

The Millimeter Wave Technology Market size is expected to reach USD 4.52 billion in 2025 and grow at a CAGR of 24.60% to reach USD 16.93 billion by 2031.

What is the current Millimeter Wave Technology Market size?

In 2025, the Millimeter Wave Technology Market size is expected to reach USD 4.52 billion.

Who are the key players in Millimeter Wave Technology Market?

Siklu Communication Ltd (Ceragon Networks Ltd), Bridgewave Communications Inc. (Remec Broadband Wireless International), E-band Communications LLC (Axxcss Wireless Solutions Inc.), Millimeter Wave Products Inc. and Ducommun Incorporated are the major companies operating in the Millimeter Wave Technology Market.

Which is the fastest growing region in Millimeter Wave Technology Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2031).

Which region has the biggest share in Millimeter Wave Technology Market?

In 2025, the North America accounts for the largest market share in Millimeter Wave Technology Market.

What years does this Millimeter Wave Technology Market cover, and what was the market size in 2024?

In 2024, the Millimeter Wave Technology Market size was estimated at USD 3.41 billion. The report covers the Millimeter Wave Technology Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Millimeter Wave Technology Market size for years: 2025, 2026, 2027, 2028, 2029, 2030 and 2031.

Millimeter Wave Technology Market Research

Mordor Intelligence's comprehensive analysis of the millimeter wave technology market combines industry expertise with data-driven insights to provide stakeholders with actionable intelligence. Our industry research covers emerging applications across millimeter wave radar, millimeter wave scanner, and millimeter wave 5G technologies, offering detailed market segmentation, competitive landscape analysis, and growth forecasts. The report pdf delivers in-depth coverage of market trends, technological innovations in millimeter wave communication and millimeter wave imaging, and strategic developments by key market players.
Our consulting expertise extends beyond traditional market research to provide tailored solutions in the mmwave technology space. We assist clients with technology scouting to identify breakthrough applications in millimeter wave wireless communications, support R&D and patent analysis for millimeter wave devices and millimeter wave equipment, and conduct comprehensive competition assessment. Our team specializes in analyzing customer needs and behavior patterns in emerging millimeter wave applications, particularly in 5G deployment and autonomous vehicle radar systems. Through B2B surveys and advanced data analytics, we help stakeholders make informed decisions about market entry, product development, and strategic partnerships in the rapidly evolving millimeter wave technology landscape.