Telecom Millimeter Wave Technology Market Size By Component, By Frequency Band, By Licensing Model, By End Use, Growth Forecast 2025 – 2034

Telecom Millimeter Wave Technology Market Size

The global telecom millimeter wave technology market was valued at USD 1.5 billion in 2024 and is estimated to register a CAGR of 26.2% between 2025 and 2034. Global governments are spearheading the use of next-generation communication networks with the aim of enhancing the current digital infrastructure. The shift to 5G networks, which relies on millimeter wave technology, is being fast-tracked by public-private partnerships and significant funding into telecommunications infrastructure. Telecom companies are also being encouraged to install millimeter wave capabilities, as regulatory authorities are simplifying licensing and spectrum usage for these systems.

The deep-rooted commitment of the US government in improving the communication technology landscape is highlighted with the September 2023 investment by NSF of USD 25 million in 5G government networks. Securing the untrusted 5G networks for government institutions, communication experts, and military operators is the primary goal of this program. Alongside broadband access expansion, smart city development, and Industry 4.0, the adoption of millimeter wave technology for communication is expected to be done at scale, which will directly positively impact the market growth.
 

The introduction of 5G networks across various countries is allowing the telecommunication industry to expand further into the millimeter wave technology market. Due to the immense data transfer speeds and short latency necessitated by 5G, these millimeter waves also become extremely useful. The demand for mobile data is constantly increasing with the advent of new applications, such as virtual and augmented reality and HD video streaming, which require bandwidth greater than what is currently available. Technologies involving millimeter waves are imperative for fulfilling the needs of the 5G performance metrics through synergy with each other, especially in large metropolitan regions where the requirements are extreme.
 

Telecom Millimeter Wave Technology Market Trends

• The demand for millimeter wave technology is fueled majorly by the increase in smart cities and the proliferation of IoT. Communication between devices and infrastructure in an increasingly connected world is extremely low latency and high speed, enabling seamless interaction, and true for devices such as IoT and autonomous vehicles with a smart grid, along with real-time monitoring systems that possess incredible speeds of functioning.
   
• There remains the need for strong networks that can manage and withstand ample amounts of data, such as in traffic management or public safety, in dense urban areas, and such a need is efficiently fulfilled through millimeter wave technology.
   
• The telecom millimeter wave market is witnessing unprecedented growth as a result of IoT devices and smart city solutions' boom. The implementation of telecom industry-provided technologies faces barriers stopping it from becoming further popular among the masses, the first being cost barriers, as setting up and maintaining a millimeter wave base costs a staggering amount.
   
• To ensure consistency and high-quality coverage, the telecom industry must establish a small cell network alongside base stations and fiber backhaul. All these factors come together to provide more than a justifiable reason to use millimeter waves at the cost of limited coverage. Yet, building this infrastructure seems to be exceptionally difficult in areas with high real estate prices, such as urban cities.
   
• Furthermore, there is a need for constantly upgrading gears and equipment, which in turn increases the overall investment cost by a staggering amount. Not to mention, engaging in heavy investment in a rural area where high-speed services implementation seems to be more trouble than it is worth.
   

Telecom Millimeter Wave Technology Market Analysis

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• Based on frequency band, the market is divided into below 60 GHz, 60-100 GHz, and above 100 GHz. In 2024, the below 60 GHz segment held a market share of over 40% and is expected to cross USD 5 billion by 2034. The frequency band below 60 GHz is conquering the market due to its low pricing and higher availability as compared to other frequency bands.
   
• While dealing with frequencies below 60 GHz, telecom entities have to encounter less difficulty in obtaining spectrum licenses, due to these frequencies being more accessible. This, in turn, makes operational costs for setting up high-speed networks much cheaper, which is a good consideration for the operators of the networks and the manufacturers of the telecommunication apparatus. Such bandwidth availability increases the time and reduces the cost required for setting up 5G networks and FWA solutions.
   
• Also, lower frequencies have better signal propagation and range than the higher millimeter wave bands, which means that users have a practical choice of fast data transmission and ample coverage area. With the increasing popularity of high-speed internet along with advanced connectivity, the telecommunication market with low-cost solutions will use the frequency below 60 GHz, which will inevitably lead to an increase in the market.
   

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• Based on licensing model, the telecom millimeter wave technology market is categorized into fully/partly licensed and unlicensed. The fully/partly licensed segment held a market share of around 68% in 2024. Licensed spectrum enables telecom operators to extend their network reach and capacity while providing the highest guaranteed protection from interference. Fully licensed frequency bands are granted exclusive rights to occupy high-capacity, interference-free bands that enable mobile service providers to provide their services at high speed.
   
• This is crucial for maintaining quality in densely populated urban areas where there are many people using the same network. The licensing of the spectrum provides clear assurance that operators will render quality services without interruptions. Also, the partially licensed spectrum may assist the operators in achieving a certain tradeoff between costs and performance, which is helpful for new 5G rollout. Given the rise of demand for high-speed, low-latency applications, the licensed spectrum will enhance the adoption of the telecom millimeter wave technology.
   

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• U.S. dominated the North America telecom millimeter wave technology market with a major share of around 40% in 2024. The US market growth is significantly aided by the advent of Fixed Wireless Access (FWA) solutions, which are being marketed as a substitute for satellite broadband in the US FWA zones. Skipping the fiber cable installation process offers a reduced cost structure for telecom and broadband corporations.
   
• Due to minimal access restrictions, making use of millimeter wave frequency is a wise choice as it allows provision of seamless wi-fi in these areas. Widespread use of FWA can also be credited to the actions taken by the US government to improve rural broadband infrastructure like the VDOF action plan, allowing more users to access FWA in low-cost – high-speed areas. Enhanced reliability and network standard brought by millimeter wave allows telecom suppliers to enter previously underserved or unserved areas, amplifying the competition among the market players. This rise in usage and popularity of FWA tools is supplementing the US market.
   
• The growing need for fast internet services bolsters the market in Europe. This increasing demand is fueled by the rapid expansion of data-intensive applications such as 4K/8K video streaming, virtual reality, and cloud services that require faster and more efficient technologies.
   
• These requirements are fulfilled by using millimeter wave technology. Furthermore, it is providing wireless broadband in locales unserviceable through fiber optic networks. The already unfolding demand from consumers and businesses across Europe for high and reliable internet services will warrant the deployment of millimeter wave broadband solutions.
   
• Driven by demand, data consumption is increasing in the Asia Pacific region, which raises the requirement for low-latency, high-speed communication. Telecom millimeter wave technology has the necessary capacity to support data-hungry applications, such as video streaming, gaming, cloud service, and big data analytics.
   
• Further, due to the growing dependence on digital space in both urban locations and rural areas, millimeter wave technology allows telecom firms to provide better, faster, and more robust networks, meeting the consumer and business ever-growing demand for reliable and fast internet.
   

Telecom Millimeter Wave Technology Market Share

• Qualcomm and Nokia hold a market share of around 15% in the Telecom millimeter wave technology industry. Qualcomm, a pioneer in the wireless communication sphere, seeks to advance its extensive wireless portfolio through the mass production of advanced 5G chipsets that have the capability to offer speedy mobile networks via millimeter wave technology.
   
• Partnerships with telecom operators aimed at improving the fixed wireless access (FWA) deployment of 5G are among the goals of the company's strategy. Qualcomm's advances in both low latency communication and high bandwidth solutions are other factors expected to contribute to the popularity of millimeter-wave technologies.
   
• Nokia aims to broaden its scope of 5G telecom network infrastructure and services with a specific focus on mmWave frequency markets. Their approach encompasses working with telecom operators all over the world to integrate network and equipment design with deployment services.
   
• Capabilities on 5G radio access networks (RAN) and small cell units would help Nokia achieve network densification and capacity expansion. While about both firms are investing in the development of the next generation telecom infrastructure as well as construction surge of high-speed data malls deploying 5G within important geographies.
   

Telecom Millimeter Wave Technology Market Companies

Major players operating in the telecom millimeter wave technology industry include:

• Broadcom
• Ericsson
• Huawei
• Keysight
• L3Harris
• Millimeter Wave Products
• NEC
• Nokia
• Qualcomm
• Siklu Communication
   
• The market for telecom millimeter wave technology is quite competitive, and due assistance is given to both new entrants alongside established telecom equipment vendors to cater for the growing demand for a more advanced wireless system.
   
• Key contestants in the market are working towards enhancing and rolling out a variety of mmWave technology to scale up 5G networks by achieving low latency, increased network capacity and improved rate.
   
• These companies are channeling a large chunk of their resources to R&D in order to fine-tune both mmWave technologies and resolve issues of attenuation, range and outside interference. Their goal is to be able to combine mmWave technology with telecom software operators in order to be able to convert next-gen networks to ultra-broadband services for higher traffic in busy cities.
   

Telecom Millimeter Wave Technology Industry News

• In December 2024, Nokia and EOLO deploy Europe’s first 5G standalone mmWave network in Italy. Nokia will supply equipment from its industry-leading 5G AirScale portfolio including Nokia's next-generation, AirScale baseband solutions, Massive MIMO radios, and Remote Radio Head products. The deal supports EOLO’s ambitions to connect underserved communities, helping to bridge the digital divide and the digital speed divide in Italy.
   
• In October 2024, Vodafone, Qualcomm and Ericsson completed 5G mmWave trials in the UK. The trials made use of Ericsson Radio System products such as the antenna-integrated radio AIR 5322 and Baseband 6651, as well as various devices powered by the Snapdragon X65 5G Modem-RF System.
   

The telecom millimeter wave technology market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue ($Bn) from 2021 to 2034, for the following segments:

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Market, By Component

• Antennas & transceivers
• Communication equipment
• Processing units
• Frequency sources
• Others

Market, By Frequency Band

• Below 60 GHz
• 60-100 GHz
• Above 100 GHz

Market, By Licensing Model

• Fully/Partly licensed
• Unlicensed

Market, By End Use

• Telecom providers
• Government and defense
• Enterprises
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Nordics
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Southeast Asia 
• Latin America
  • Brazil
  • Mexico
  • Argentin 
• MEA
  • UAE
  • South Africa
  • Saudi Arabia