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Millimeter Wave Technology Market Size to Grow USD 3182 Million by 2030 at a CAGR of 20.6% | Valuates Reports

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BANGALORE, India, July 5, 2024 /PRNewswire/ — Millimeter Wave Technology Market is Segmented by Type (24GHz – 57GHz, 57GHz – 86GHz, 86GHz – 300GHz), by Application (Communication, Medical, Automobile, Military, Imaging, Other): Global Opportunity Analysis and Industry Forecast, 2024-2030.

The global Millimeter Wave Technology market was valued at USD 832.6 million in 2023 and is anticipated to reach USD 3182 million by 2030, witnessing a CAGR of 20.6% during the forecast period 2024-2030.

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Major Factors Driving the Growth of Millimeter Wave Technology Market:

The market for millimeter wave (mmWave) technology is mainly driven by the growing need for wireless communication at high speeds, especially with the introduction of 5G networks. Faster data transmission rates and reduced latency are made possible by mmWave technology, and these features are essential for applications like IoT devices, augmented reality (AR), virtual reality (VR), and driverless cars. The industry is developing even faster due to the increasing demand for bandwidth-intensive services like improved telephony and high-definition video streaming. Furthermore, the broad deployment of mmWave technology is facilitated by developments in semiconductor technology and the creation of small and effective mmWave components. The market is propelled ahead in large part by regulatory assistance as well as rising expenditures in infrastructure and research.

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TRENDS INFLUENCING THE GROWTH OF THE MILLIMETER WAVE TECHNOLOGY MARKET

One major factor propelling the millimeter wave technology industry is the growing need for fast wireless communication. Faster and more dependable internet access is desperately needed given the growth of data-intensive applications and the proliferation of smart devices. Operating in the 24 GHz to 86 GHz range, millimeter wave technology provides significant bandwidth and fast data transfer rates, which makes it perfect for fulfilling these requirements. Next-generation wireless networks, such as 5G, which are expected to provide previously unheard-of speeds and minimal latency, are made possible by this technology and will help meet the growing demands of contemporary digital communication.

One major element propelling the millimeter wave technology market’s growth is the rollout of 5G networks. For 5G technology to provide high-speed, low-latency connectivity, millimeter waves play a major role. Millimeter wave frequencies are required for 5G infrastructure rollout, including small cells and backhaul solutions. In addition to improving mobile broadband services, this expansion opens up new possibilities for cutting-edge applications like industrial automation, smart cities, and driverless cars. The need for millimeter wave technology is expected to rise significantly as 5G networks are implemented in more nations, driving market expansion.

The market for millimeter wave (mmWave) technology is mainly driven by the growing need for wireless communication at high speeds, especially with the introduction of 5G networks. Faster data transmission rates and reduced latency are made possible by mmWave technology, and these features are essential for applications like IoT devices, augmented reality (AR), virtual reality (VR), and driverless cars. The industry is developing even faster due to the increasing demand for bandwidth-intensive services like improved telephony and high-definition video streaming. Furthermore, the broad deployment of mmWave technology is facilitated by developments in semiconductor technology and the creation of small and effective mmWave components. The market is propelled ahead in large part by regulatory assistance as well as rising expenditures in infrastructure and research.

The market for millimeter wave technology is expanding because of applications that need very high data transfer rates and low latency, which are served by the 57 GHz–86 GHz frequency spectrum. In densely populated areas, this frequency is necessary for backhaul solutions that enable effective communication between small cell networks in 5G infrastructure. It also enables cutting-edge technology including high-resolution radar systems and wireless HD video transmission. The market is being driven ahead by the growing usage of these high-frequency bands for sophisticated communication solutions as well as the demand for improved bandwidth and connection in contemporary applications.

Millimeter wave technology is being more widely used in the automobile sector, especially in advanced driver assistance systems (ADAS) and driverless cars. Adaptive cruise control, blind spot monitoring, and object detection all depend on millimeter wave radar sensors. These sensors deliver high-resolution data and perform well in a variety of weather scenarios, which is crucial for the security and efficiency of autonomous driving systems. The incorporation of millimeter wave technology is becoming more common as the automotive industry strives towards higher levels of vehicle automation and safety features, which is fueling market development.

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MILLIMETER WAVE TECHNOLOGY MARKET SHARE ANALYSIS

The market for millimeter wave technology is dominated by North America due to the region’s early adoption of cutting-edge innovations and massive expenditures in 5G infrastructure. The U.S. is home to several R&D operations and significant technological businesses, both of which support market expansion. The dominance of the region is further reinforced by government measures aimed at improving communication networks and the growing demand for high-speed internet services. The extensive use of millimeter wave technology in industries including healthcare, automotive, and telecommunications strengthens North America’s position as the industry leader.

Key Players:

BridgeWave CommunicationsKeysight TechnologiesNECSAGE MillimeterSiklu CommunicationAviat NetworksFarran TechnologyMillimeter Wave ProductsMillivision TechnologiesVubiq NetworksE-Band CommunicationsSmiths GroupL3 TechnologiesProxim Wireless

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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!

–  Millimeter Wave Radar Level Measuring Instrument Market

–  77G Millimeter Wave Radar Market

–  The global Millimeter Wave Absorbing Materials market was valued at USD 56 million in 2023 and is anticipated to reach USD 86.7 million by 2030, witnessing a CAGR of 5.7% during the forecast period 2024-2030.

–  The global market for Millimeter Wave Absorber was estimated to be worth USD 49 million in 2023 and is forecast to a readjusted size of USD 107.6 million by 2030 with a CAGR of 5.7% during the forecast period 2024-2030

–  Millimeter Wave Measuring Instrument Market

–  The global Automotive Millimeter Wave (MMW) Radar market size is expected to reach USD 11710 million by 2029, growing at a CAGR of 4.3% from 2023 to 2029.

–  The global Test and Measurement Equipment market was valued at USD 11810 million in 2023 and is anticipated to reach USD 18710 million by 2030, witnessing a CAGR of 6.4% during the forecast period 2024-2030.

–  The global market for 60GHz mmWave Radar was estimated to be worth USD 24 million in 2023 and is forecast to a readjusted size of USD 275.8 million by 2030 with a CAGR of 38.3% during the forecast period 2024-2030

–  4D mmWave Radar Chip Market

–  The global Wave Power Generation Equipment market was valued at USD 27 million in 2023 and is anticipated to reach USD 118.7 million by 2030, witnessing a CAGR of 21.1% during the forecast period 2024-2030.

–  Wave Pools Market

–  Bulk Acoustic Wave Devices Market

–  Wave Energy Converters Market

–  The global Strain Wave Gearing Devices market was valued at USD 427 million in 2023 and is anticipated to reach USD 882.7 million by 2030, witnessing a CAGR of 10.8% during the forecast period 2024-2030.

–  The global Bulk Acoustic Wave Delay Line market was valued at USD 187 million in 2023 and is anticipated to reach USD 286.1 million by 2030, witnessing a CAGR of 5.8% during the forecast period 2024-2030.

–  The global Surface Acoustic Wave Filter market was valued at USD 4814 million in 2023 and is anticipated to reach USD 8359.6 million by 2030, witnessing a CAGR of 8.5% during the forecast period 2024-2030.

–  The global renewable energy market was valued at USD 881.7 billion in 2020, and is projected to reach USD 1,977.6 billion by 2030, growing at a CAGR of 8.4% from 2021 to 2030.

–  The global Backward Wave Oscillator market is projected to reach USD 18 million in 2029, increasing from USD 13 million in 2022, with the CAGR of 4.2% during the period of 2023 to 2029.

–  The global Traveling Wave Tubes (TWT) revenue was USD 764.4 million in 2022 and is forecast to a readjusted size of USD 1044 million by 2029 with a CAGR of 4.5% during the forecast period (2023-2029).

–  The global Strain Wave Gearing Devices revenue was USD 427 million in 2022 and is forecast to a readjusted size of USD 882.7 million by 2029 with a CAGR of 10.8% during the forecast period (2023-2029).

–  Millimeter Wave Connectors Market

–  Automotive Millimeter Wave 4D Radar Market

–  Millimeter Wave Oscillator Market

–  The global market for Millimeter Wave RF Modules was estimated to be worth USD 122 million in 2023 and is forecast to a readjusted size of USD 3657.7 million by 2030 with a CAGR of 61.7% during the forecast period 2024-2030

–  Automobile Millimeter Wave Compatible Emblem Market

–  Millimeter Wave Sensors and Modules

–  Millimeter Wave Human Body Security Screening Equipment Market

–  Automotive Millimeter Wave Radar PCB Market

–  Millimeter Wave Body Scanner Market

–  Millimeter Level Cable Seal Market

–  Millimeter Wave Radar for Smart Elderly Care Market

–  The global 77 GHz Automotive Millimeter Wave Radar PCB market was valued at USD 187 million in 2023 and is anticipated to reach USD 473 million by 2030, witnessing a CAGR of 13.5% during the forecast period 2024-2030.

–  4D Millimeter Wave Imaging Radar Market

–  The global market for 60GHz mmWave Radar was estimated to be worth USD 24 million in 2023 and is forecast to a readjusted size of USD 275.8 million by 2030 with a CAGR of 38.3% during the forecast period 2024-2030

–  Vehicle 4D Millimeter Wave Radar Market

–  5G Millimeter Wave Radio Frequency Chips Market

–  Millimeter Wave Radar Circuit Board Market

–  Millimeter Wave Radar Semiconductor Sensor Market

–  Millimeter Wave Frequency Converter Market

–  Millimeter Wave Ceramic Dielectric Resonators Market

–  Portable Millimeter Wave Therapeutic Device Market

–  The global Millimeter Wave Active Phased Array Antenna market is projected to reach USD 549.4 million in 2029, increasing from USD 396 million in 2022, with the CAGR of 5.0% during the period of 2023 to 2029.

–  Calibrated Variable Waveguide Attenuators Market

–  Stage Micrometer Market

–  Variable Waveguide Attenuators Market

–  The global RF Front End MMIC market was valued at USD 9013.5 million in 2023 and is anticipated to reach USD 23980 million by 2030, witnessing a CAGR of 15.0% during the forecast period 2024-2030.

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Quantinuum and Al Rabban Capital Launch Joint Venture to Accelerate Quantum Computing Adoption in Qatar and the Region

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Up to $1 Billion Investment Over 10 years by Qatar in State-of-the-Art Quantum Technologies and Workforce Development to be Provided by the Joint Venture to Academic and Industrial Partners

DOHA, Qatar, May 14, 2025 /PRNewswire/ — Quantinuum, the world leader in quantum computing, is establishing a Qatari-incorporated Joint Venture with Al Rabban Capital, a division of Al Rabban Holding Company, one of Qatar’s most prominent companies. The Joint Venture will accelerate quantum computing adoption in Qatar and the region, strategically positioning the U.S. and Qatar as global leaders in the quantum revolution. This first of its kind quantum technology partnership was highlighted by the President of the United States during his historic state visit to Qatar.

The Joint Venture has three core objectives: enabling access to Quantinuum’s world-leading quantum technologies in the region; co-developing quantum computing applications tailored to regional needs in areas such as New Energy, Materials Discovery, Precision Medicine, Genomics, and Financial Services, with new opportunities emerging in the era of Generative Quantum AI (GenQAI); and, training the next generation of quantum computing developers in Qatar and the region.

Quantinuum is steadily expanding its global presence to meet the growing international demand for its technology and applications. The company’s expansion into the Gulf region, starting with Qatar, follows its successful growth across the U.S., U.K., Europe and Indo-Pacific. This Joint Venture reflects a shared commitment by the U.S. and Qatar to strengthen strategic ties, spur bilateral investment in future-defining industries, and foster technological leadership and shared prosperity. 

Quantinuum’s Joint Venture with Al Rabban Capital builds on its partnership announced last year with Hamad Bin Khalifa University and the Qatar Center for Quantum Computing (QC2), Qatar’s premier quantum research hub.

“This is a defining moment in Qatar’s ambition to become a regional hub for advanced technologies like quantum computing,” said Abdulaziz Khalid Al Rabban, Chairman, Al Rabban Capital. “We’re partnering with Quantinuum to deliver world-class quantum solutions, driving economic growth in Qatar and the region.”

“This Joint Venture demonstrates our shared vision to lead in transformative technologies,” said Dr. Rajeeb Hazra, President & CEO of Quantinuum. “Together with Al Rabban Capital, we’re accelerating the commercial adoption of quantum computing in Qatar and the region whilst serving U.S. and Qatari strategic interests.”

About Quantinuum

Quantinuum is the world leader in quantum computing. The company’s quantum systems deliver the highest performance across key industry benchmarks. Quantinuum’s over 550 employees, including 370+ scientists and engineers, across the US, UK, Germany, and Japan, are driving the quantum computing revolution.

For more information, please visit: https://www.quantinuum.com

About Al Rabban Capital

Al Rabban Capital (ARC) is a Qatari investment and advisory firm driving business growth across Qatar and the GCC. ARC enable market entry and expansion through joint ventures, strategic partnerships, and deep local insight. ARC supports both public and private sector initiatives with tailored, end-to-end solutions. Beyond capital, ARC provide strategic guidance, governance, and access to a robust regional network. ARC’s focus includes AI, quantum tech, healthcare, and sustainability, with a commitment to impactful growth.

For more information, please visit: https://www.alrabbancapital.com

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Hammes recognized as one of the Best Places to Work in Healthcare in 2025

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MILWAUKEE, May 14, 2025 /PRNewswire/ — Hammes, a national real estate consulting, development, investment and management firm, has once again been recognized by Modern Healthcare as one of the Best Places to Work in Healthcare. This is the third year that Hammes participated in the Best Places to Work program and the third year the firm has been named to the list.

“Being recognized as a 2025 Best Place to Work in Healthcare is a powerful testament to how these organizations value their people,” said Dan Peres, President of Modern Healthcare. “In a time of constant change and challenge, this year’s winners have shown a deep commitment to creating environments where employees feel supported, heard, and inspired to do their best work. That kind of culture doesn’t happen by accident—it’s intentional, and it’s worth celebrating.”

“Being named one of the best places to work in healthcare for the third consecutive year is a collective honor and achievement worth celebrating,” said Patrick Hammes, Managing Principal. “It speaks to our team members’ commitment to our workplace culture and the meaningful work we do to bring exceptional facilities to life for our healthcare clients.”

Modern Healthcare partners with Workforce Research Group to conduct a rigorous assessment process, which includes an extensive employee survey. This annual program identifies and honors outstanding employers within the healthcare industry nationwide.

The complete list of 2025 Best Places to Work in Healthcare winners is available at ModernHealthcare.com/bestplaceslist.

About Hammes

Founded in 1991, Hammes is a vertically integrated real estate solutions platform specializing in healthcare real estate strategy and planning, project management, development, investment, and property management. As a testament to our deep healthcare industry experience, Hammes has been recognized as one of the nation’s leading healthcare developers by Modern Healthcare’s Construction & Design Survey for 26 consecutive years—including 21 years as No. 1—and by Revista’s Outpatient Healthcare Real Estate Development Report. Headquartered in Milwaukee, Wisconsin, Hammes provides services through a network of regional offices strategically located across the United States. www.hammes.com

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From Best-Kept Secret to Global Recognition: Korcomptenz Featured in 2025 ISG Provider Lens™

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Featured in the “Contender” category for Data, Cloud, and AI Services

PARSIPPANY, N.J. and CHENNAI, India, May 14, 2025 /PRNewswire/ — For years, Korcomptenz has quietly powered digital transformations behind the scenes—trusted by midmarket and enterprise clients, yet rarely in the headlines. That changed recently, in a landmark moment, Korcomptenz has been recognized in the 2025 ISG Provider Lens™ for Microsoft Cloud and AI Ecosystem, earning a place in “Contender” category for both AI Services for Microsoft Cloud and Data Fabric on Azure.

The ISG team of advisors worldwide help organizations to source and contract the right IT Service providers for their needs on digital transformation & governance projects. ISG influences $200B+ of technology spend annually. This year for the 2025 ISG Provider Lens™ Microsoft AI and Cloud Ecosystem Global report places Korcomptenz along with many of the global tech giants like Accenture, IBM, and Infosys, in its quadrants for both Data and AI Services. It’s a striking debut for a company that has historically chosen substance over spotlight.

“Our clients have always known what we bring to the table: trust, innovation, and measurable outcomes,” said Clara D’Silva, President & Founder of Korcomptenz. “This ISG recognition validates what we’ve quietly been doing for over two decades—solving complex problems with commitment, empathy, and deep technology expertise.”

Why Now?

The timing couldn’t be better. As enterprises face uncertainty and race to scale AI responsibly, ISG’s report highlights a critical shift: businesses aren’t just looking for technology—they’re looking for partners who understand their industry, anticipate change, and deliver fast, flexible value.

According to ISG: 

“Korcomptenz combines Microsoft Fabric and Azure Analytics experience with industry process knowledge to help customers improve data governance and accelerate digital transformation initiatives with optimized AI-enabled business-critical processes.”

Korcomptenz’s AI tools include KOR BankIQ for banking insights, KOR SmartForge with 100+ dashboards for manufacturing analytics, and KOR ESGenius for streamlined ESG compliance and reporting.

Its newly launched Global AI Innovation Center in Chennai accelerates work on Agentic AI, powered by Microsoft Copilot Studio and Azure AI Foundry. “This hub is a major milestone in our growth,” said CEO Prakash Anthony.

About Korcomptenz

Korcomptenz enables intelligent transformation through Microsoft, SAP, Salesforce, and AI technologies. With operations across North America, India, and the UAE, it serves clients in manufacturing, retail, healthcare, logistics, and BFSI.

Learn more: www.korcomptenz.com or email sales@korcomptenz.com

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