The millimeter wave technology market has been forecast to increase at a compound annual growth rate (CAGR) of 59.1% over the next five years, rising from a total of $116 million at the beginning of 2013, to hit a market value of $1.1 billion by 2018.
A millimeter wave is a special electromagnetic wave whose frequency lies in between 3 GHz to 300 GHz, falling far beyond the frequency range of commonly used wireless technologies.
Though originally electromagnetic waves with frequencies above 80 GHz were termed as microwaves and waves with even higher frequencies as radio waves, with commercialisation of this technology, the demarcation between frequencies has blurred over the past decade.
A millimeter wave scanner is a whole-body imaging device used for detecting objects concealed underneath a person's clothing using a form of electromagnetic radiation.
Typical uses for this technology include detection of items for commercial loss prevention, smuggling and screening at government buildings and airport security checkpoints. Several countries employ the scanners for security screening.
BridgeWave retains its overall market share leadership, capturing just under a third of total millimeter wave revenues in 2012, but a market share shakeup is expected over the coming months as major microwave vendors including Aviat Networks, Ericsson, Fujitsu, and Huawei launch millimeter wave products.
Volumes are estimated to grow from roughly 11.8 thousand units to more than 360 thousand units in 2018. This growth is heralded by the growing telecommunication applications market for millimeter wave technology, especially in the fields of small cell and macro-cell mobile backhaul.
The millimeter wave scanners & imaging systems market is also expected to grow rapidly in the coming five years with shift of scanning & security industry towards millimeter wave technology from competing technologies such as X-ray backscatter technology.
For more information on the millimeter wave technology market, see the latest research: Millimeter Wave Technology Market
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