Millimeter Wave Technology Market Size to Hit USD 29.76 Billion by 2032 | at a CAGR of 28.20% | SNS Insider
Millimeter Wave Technology Market growth is driven by 5G rollout, demand for high-speed data transfer, automotive radar use, advanced imaging, and adoption in defense & satellite communications.
Austin, Nov. 03, 2025 (GLOBE NEWSWIRE) — Millimeter Wave Technology Market Size & Growth Insights:
According to the SNS Insider,“The Millimeter Wave Technology Market size was valued at USD 3.19 billion in 2024 and is expected to reach USD 29.76 billion by 2032, growing at a CAGR of 28.20% over 2025-2032.”
Growing 5G Expansion Automotive Advancements and Security Innovations Propel Market Growth Globally
The market for millimeter wave (mmWave) technology is expanding because to the growing need for FRM (firm range meter) development and operation of 5G networks and satellite communication crystals. The growth of mmWave technology, which offers extremely fast data transmission rates and minimal latency, has been fueled by the global expansion of 5G infrastructure.
Additionally, a major element supporting the market’s growth is the growing use of mmWave for automotive applications including driverless vehicles and ADAS (advanced driver assistance systems). Additionally, the market is expanding due to the increased demand for security and surveillance solutions as well as the increased use of high-resolution imaging and radar applications in the defense, aerospace, and healthcare industries.
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Leading Market Players with their Product Listed in this Report are:
- Logitech
- Cambium Networks
- Filtronic
- Vayyar
- Rohde & Schwarz
- pSemi (formerly Peregrine Semiconductor)
- Keysight Technologies
- Siklu
- E-Band Communications
- NEC Corporation
- Sivers Semiconductors
- Quintech Electronics & Communications
- Anokiwave
- Aviat Networks
- Qualcomm Incorporated
- Ericsson AB
- Nokia Corporation
- Samsung Electronics Co., Ltd.
- Infineon Technologies AG
- Texas Instruments Inc.
Millimeter Wave Technology Market Report Scope:
| Report Attributes | Details |
| Market Size in 2024 | USD 3.19 Billion |
| Market Size by 2032 | USD 29.76 Billion |
| CAGR | CAGR of 28.20% From 2025 to 2032 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segmentation | • By Product (Telecommunication Equipment, Imaging & Scanning Systems, Radar & Satellite Communication Systems) • By Component (Antennas & Transceivers, Amplifiers, Oscillators, Control Devices, Frequency Converters, Passive Components, Others (Ferrite Devices, Radiometers, etc.)) • By Frequency Band (V-Band, E-Band, Other Frequency Bands) • By Application (Telecommunications, Military & Defense, Automotive & Transport, Healthcare, Electronics & Semiconductor, Security) |
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Key Industry Segmentation
By Product
The telecommunication equipment segment led the global Millimeter Wave (mmWave) Technology market, contributing 55.3% of the global market share in 2024. The growth is driven by the adoption of mmWave technology in telecommunication infrastructure the boom of 5G networks and need-based transmission of high-speed data. The category of imaging & scanning systems is expected to grow at a rapidly growing CAGR from 2025 to 2032 due to developments in the medical imaging, security screening, and industrial inspection fields.
By Component
In 2024, antennas & transceivers led the millimeter wave (mmWave) technology market with a 40.4% share of the total market as these components are crucial to facilitate high-frequency signals being sent and received across different applications. Frequency converters are expected to grow at a rapid CAGR during the forecast period (2025 – 2032) owing to their increasing use in various telecommunication applications including frequency translation and signal processing in telecommunications, aerospace, and industrial automation.
By Frequency Band
In 2024, E-Band held the largest market share of 61.2% in the Millimeter Wave (mmWave) Technology Market due to its low latency capability, it has made a favorable choice for telecommunication infrastructure, as well as aerospace & defense applications. The V-Band garnered the highest revenue CAGR through 2025-2032, largely attributed to its growing use in wireless broadband, unlicensed 5G, and short-range communications.
By Application
Telecommunications lead the MMwave Technology Market by commanding 46.7% of the market share in 2023 due to the growing demand for high-speed data transmission, rapid deployment of 5G networks, and increasing need for wireless broadband infrastructure. The Military & defense sector is projected to register the fastest CAGR during 2024 – 2032 due to advancements in radar, surveillance, and secure communication systems.
Regional Insights:
North America held the highest mmWave Technology Market share of 40.1% in 2024. The 5G networks are being widely deployed while the strong growth in defense and aerospace applications and autonomous vehicles sectors also supports this dominance.
The Asia Pacific region will grow at the fastest CAGR from 2025-2032, as a result of growing 5G infrastructure, rising industrial automation, and higher defense spending. China, Japan, and South Korea are pouring resources into mmWave-based 5G networks for smart cities and industrial facilities.
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Recent News:
- In January 2025, Logitech introduced the Spot mmWave radar sensor with a 4-year battery life, designed for office occupancy tracking, but concerns arise over potential covert employee monitoring.
- In February 2025, Filtronic signed a USD 20.9 million contract with SpaceX to supply radio-frequency power amplifiers for the Starlink satellite network.
Exclusive Sections of the Millimeter Wave Technology Market Report (The USPs):
- TECHNOLOGICAL INNOVATION INDEX – helps you track the adoption of millimeter-wave (mmWave) frequency bands across telecom, automotive, and defense sectors, supported by rising patent filings and launches of advanced chipsets, modules, and SoC designs.
- R&D AND PATENT ACTIVITY INSIGHTS – helps you assess investment trends in 5G infrastructure, radar sensing, and semiconductor innovation, along with the growing number of patents in antennas, transceivers, and beamforming technologies.
- PERFORMANCE & RELIABILITY BENCHMARKS – helps you evaluate key operational indicators such as frequency utilization (24–100 GHz), data throughput, latency, and mean time between failures (MTBF) for mmWave systems.
- SUPPLY CHAIN & MATERIAL DEPENDENCY ANALYSIS – helps you identify capacity utilization levels, lead times, and material dependencies on GaN, GaAs, and SiGe, along with supply chain integration efficiency across OEMs and system integrators.
- COST & PRICING DYNAMICS – helps you understand average selling price (ASP) trends by component type and analyze total system deployment costs for 5G base stations and radar applications.
- REGULATORY & COMPLIANCE METRICS – helps you navigate regional spectrum allocation rules and emission standards (FCC, ETSI, ITU), ensuring product safety, interoperability, and EMC compliance.
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