Technology
Millimeter Wave Technology Market is expected to generate a revenue of USD 14.8 Billion by 2031, Globally, at 9.5% CAGR: Verified Market Research®
Published
2 years agoon
By
Verified Market Research® a leading provider of business intelligence and market analysis is thrilled to announce the release of its comprehensive and authoritative report on the, “Millimeter Wave Technology Market Size and Forecast.” This in-depth market research report is designed to provide industry leaders, decision-makers, and technology experts with critical insights into the expanding world of millimeter wave technology, emphasizing its pivotal role in future communication and industrial applications.
LEWES, Del., Nov. 14, 2024 /PRNewswire/ — The Global Millimeter Wave Technology Market Size is projected to grow at a CAGR of 9.5% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 2.6 Billion in 2024 and is expected to reach USD 14.8 Billion by the end of the forecast period.
The global market for millimeter wave technology is on a trajectory of substantial growth, driven by the surge in demand for high-speed, data-intensive communication networks, particularly in 5G and beyond. Our report offers a complete view of the market landscape, covering key segments, competitive dynamics, emerging trends, and the opportunities that lie ahead.
Key Insights and Opportunities:
Market Trends: Analysis of current trends driving the adoption of millimeter wave technology, including its increasing integration in telecommunications, automotive radar systems, and industrial automation.Technology Landscape: In-depth examination of advancements in millimeter wave components such as antennas, transceivers, and sensors that are reshaping the industry.Competitive Analysis: Insightful profiling of leading companies and their market strategies, innovation roadmaps, and R&D investments.Regional Insights: Comprehensive coverage of market dynamics in North America, Europe, Asia-Pacific, and other regions, highlighting the growth potential in developing and mature markets.Future Outlook: Forecasting market size, potential challenges, and opportunities to help businesses navigate this rapidly evolving sector.
This report is a crucial resource for professionals involved in the fields of telecommunications, semiconductor manufacturing, defense, and IoT (Internet of Things), providing actionable intelligence to drive informed strategic decisions. Companies seeking to stay ahead of the curve will find detailed competitor benchmarking, key investment pockets, and insights into technology partnerships that can lead to competitive advantages.
Why Industry Leaders Should Consider This Report:
Gain a clear understanding of the market’s growth drivers and restraints.Uncover new revenue streams in the dynamic millimeter wave technology space.Benchmark your position against industry competitors and recognize areas for improvement.Make data-driven investment decisions backed by a reliable forecast and detailed market analysis.
Stay ahead of the curve in the ever-evolving Millimeter Wave Technology Market. For more information or to request a sample copy of the report, please visit: https://www.verifiedmarketresearch.com/download-sample?rid=3287
Browse in-depth TOC on “Global Millimeter Wave Technology Market Size“
202 – Pages
126 – Tables
37 – Figures
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2021-2031
GROWTH RATE
CAGR of 9.5% from 2024 to 2031
BASE YEAR FOR VALUATION
2024
HISTORICAL PERIOD
2021-2023
FORECAST PERIOD
2024-2031
QUANTITATIVE UNITS
Value in USD Billion
REPORT COVERAGE
Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis
SEGMENTS COVERED
ComponentFrequency BandProductLicense TypeEnd-User
REGIONS COVERED
North AmericaEuropeAsia PacificLatin AmericaMiddle East & Africa
KEY PLAYERS
Qualcomm Technologies, Inc., NEC Corporation, L3 Technologies, Inc.,, Millimeter Wave Products Inc.,, Keysight Technologies
CUSTOMIZATION
Report customization along with purchase available upon request
Global Millimeter Wave Technology Market Overview
Rising Demand for High-Speed Data Transmission: The increase in mobile data traffic and the expansion of 5G networks are driving the Millimeter Wave Technology Market. Rapid data transfer is essential for facilitating next-generation communication. This transition facilitates uninterrupted streaming, IoT integration, and smart city development, increasing investment in millimeter wave technologies, improving network efficacy, and creating a profitable market for telecoms companies.
Advancements in Automotive and Autonomous Technologies: The automotive and autonomous vehicle industries are progressively integrating millimeter wave technologies to improve radar and communication systems. These technologies provide accurate object identification, collision prevention, and lane guidance. As the automotive sector advances towards autonomous driving solutions, millimeter wave technology becomes crucial, facilitating market growth. Manufacturers and suppliers in automotive electronics are anticipated to witness significant demand growth.
Growth in Military and Defense Applications: Military and defense sectors are heavily investing in advanced millimeter wave technology for secure and high-speed communication, radar systems, and surveillance. Its superior bandwidth and low interference make it ideal for defense communications. The focus on modernizing defense capabilities in developed and developing nations is expected to drive market growth. Defense contractors and technology developers will find abundant opportunities in this evolving sector.
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High Infrastructure and Equipment Costs: Notwithstanding its benefits, the substantial initial expenses associated with millimeter wave technology infrastructure hinder widespread implementation. The establishment of network infrastructure and specialized equipment requires substantial expenditure, constraining market entry in price-sensitive areas. Companies must evaluate the advantages relative to the significant investment, which may impede market expansion for cost-sensitive sectors such as telecommunications and manufacturing.
Signal Attenuation Challenges: Millimeter wave signals are prone to attenuation, particularly when encountering obstructions like buildings, trees, or inclement weather. This constraint affects the efficacy of the device in densely populated or difficult areas. Mitigating signal loss necessitates increased network densification and the installation of repeaters, hence complicating deployment and escalating expenses. Service providers must devise strategies to alleviate these constraints for sustained market expansion.
Limited Availability of Spectrum: The Millimeter Wave Technology Market is hindered by the restricted availability of spectrum, essential for 5G and high-frequency applications. Regulatory constraints and rivalry for spectrum allotment among companies may impede expansion initiatives. Telecommunications companies and allied sectors encounter challenges in obtaining adequate spectrum to sustain their services, which may affect the velocity and magnitude of future installations.
Geographical Dominance
North America occupies a preeminent position in the Millimeter Wave Technology Market, propelled by early 5G implementation, substantial R&D investment, and a flourishing technological ecosystem. The involvement of critical stakeholders and a robust defense sector further enhances progress. This regional supremacy propels technological advancements and establishes global benchmarks, stimulating demand for millimeter wave solutions internationally. North America’s leadership encourages investment in other regions, enhancing total market growth.
Key Players
The “Global Millimeter Wave Technology Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are Qualcomm Technologies, Inc., NEC Corporation, L3 Technologies, Inc., Millimeter Wave Products Inc., Keysight Technologies.
Millimeter Wave Technology Market Segment Analysis
Based on the research, Verified Market Research has segmented the global Millimeter Wave Technology Market into Component, Frequency Band, Product, License Type, End-User and Geography.
Millimeter Wave Technology Market, by ComponentFrequency Sources & Related ComponentsCommunication & Networking ComponentsMillimeter Wave Technology Market, by Frequency Band24-57 GHz57-95 GH2Millimeter Wave Technology Market, by Vehicle TypeScanning SystemsRadar and Satellite Communication SystemsMillimeter Wave Technology Market, by License TypeLight LicensedUnlicensedMillimeter Wave Technology Market, by End UserCellular & TelecomConsumer & CommercialMillimeter Wave Technology Market, by GeographyNorth AmericaU.SCanadaMexicoEuropeGermanyFranceU.KRest of EuropeAsia PacificChinaJapanIndiaRest of Asia PacificROWMiddle East & AfricaLatin America
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Technology
Hyundai Motor Group Executive Chair Euisun Chung Announces Physical AI Vision at San Francisco AI Summit
Published
16 minutes agoon
July 25, 2026By
Hyundai Motor Group shares roadmap for realizing its Physical AI vision and collaboration strategy with global tech leaders at the San Francisco AI Summit
Executive Chair Euisun Chung presented, “Hyundai Motor Group is evolving beyond the traditional boundaries of automotive manufacturing to become a Physical AI solution company,” adding, “The ultimate Physical AI vision we pursue is the realization of integrated intelligence at the city level”
The Group to leverage manufacturing competitiveness and leading robotics capabilities centered on Boston Dynamics, while establishing a data flywheel system connecting real-world operational data with continuous AI model advancement
The Group to leverage strategic partnerships with global technology leaders, including NVIDIA and Waymo, as well as Boston Dynamics’ strategic partnership with Google DeepMind
The Group to collaborate with NVIDIA to develop a Robot Reference Platform that combines Hyundai Motor Group’s and NVIDIA’s Physical AI capabilities
… The initiative to support Korea’s Physical AI industry through an open ecosystem
The Group to cultivate strategic domestic hubs through investments in Saemangeum AI Valley and future advanced industries in Korea’s Yeongnam region
SAN FRANCISCO, July 25, 2026 /PRNewswire/ — Hyundai Motor Group (the Group) Executive Chair Euisun Chung today outlined the Group’s vision and strategy for Physical AI at the San Francisco AI Summit held in San Francisco, California.
The event brought together approximately 150 attendees, including Executive Chair Chung, business leaders from major Korean companies, executives from leading U.S. technology firms, startup representatives and students.
At the summit, Executive Chair Chung presented the Group’s roadmap for advancing Physical AI and outlined strategic collaboration plans with global technology leaders.
“Hyundai Motor Group is evolving beyond the traditional boundaries of automotive manufacturing by expanding into autonomous driving, robotics and AI Defined Factories, accelerating our transformation into a Physical AI solution company.” — Hyundai Motor Group Executive Chair Euisun Chung
Accelerating the Transition to a Physical AI Solution Company
Hyundai Motor Group’s Physical AI vision extends beyond intelligent devices such as vehicles and robots to intelligent spaces, including AI factories where AI seamlessly connects and optimizes entire operations. Ultimately, the Group envisions integrated intelligence at the city level, where urban infrastructure is organically connected and operated through AI.
A key differentiator for the Group is its ability to create a data flywheel that continuously connects real-world operations with AI advancement. Drawing on extensive experience in large-scale manufacturing, mobility, robotics and service operations, the Group is positioned to deploy, refine and scale Physical AI technologies in real industrial environments.
Executive Chair Chung also outlined strategic partnerships with leading technology companies, including NVIDIA and Waymo, as well as Boston Dynamics’ strategic partnership with Google DeepMind, to further advance Physical AI capabilities.
By combining Hyundai Motor Group’s manufacturing competitiveness, mobility and robotics technologies and extensive operational data with the AI infrastructure and algorithm capabilities of global technology leaders, the Group aims to help foster a new innovation ecosystem for the Physical AI era.
Executive Chair Chung also introduced initiatives designed to support the growth of Korea’s robotics and AI ecosystem, including the development of a Robot Reference Platform with NVIDIA that combines Hyundai Motor Group’s and NVIDIA’s Physical AI capabilities, as well as investments in initiatives such as the Saemangeum AI Valley.
Physical AI Vision: From Intelligent Devices to Integrated Intelligence at the City Level
During the summit, Executive Chair Chung presented Hyundai Motor Group’s Physical AI vision.
“The ultimate Physical AI vision Hyundai Motor Group pursues begins with intelligent devices such as vehicles and robots, expands to intelligent spaces such as AI factories, and ultimately realizes integrated intelligence at the city level, where urban infrastructure is seamlessly connected and operated.” — Hyundai Motor Group Executive Chair Chung
The Group’s vision begins with intelligent devices, where AI capabilities enhance vehicles and robots. It then expands to intelligent spaces, including AI factories where AI autonomously integrates logistics, production and quality management across entire operations.
Ultimately, Hyundai Motor Group envisions city-level intelligence, where critical infrastructure and assets — including energy, mobility and robotics systems — are connected and optimized in real time.
Executive Chair Chung also highlighted the Group’s key strengths in realizing its Physical AI vision:
World-class manufacturing competitiveness: Hyundai Motor Group has built extensive expertise through decades of operating global manufacturing facilities, managing quality systems and optimizing supply chains. This foundation enables the Group to apply AI technologies to products, processes and services while rapidly validating and scaling innovations in real-world environments.
Leading robotics capabilities: Hyundai Motor Group has established robotics as a key pillar of its future business portfolio. Boston Dynamics’ quadruped robot Spot®, logistics robot Stretch®, and Hyundai Motor Group Robotics LAB’s next-generation mobile robot platform MobED are recognized for combining technological competitiveness with real-world applicability.
In particular, the humanoid robot Atlas® is emerging as a representative example of Physical AI, supporting and collaborating with people across manufacturing, logistics and mobility environments.
Establishing a data flywheel system: Hyundai Motor Group is establishing a data flywheel system that leverages data generated across manufacturing operations, vehicles, logistics systems and robotics demonstrations to continuously advance AI models. Enhanced algorithms are then reapplied to real-world operations, creating a virtuous cycle that improves performance and strengthens Physical AI capabilities.
Accelerating the Future of Physical AI Through Partnerships with Global Tech Leaders
Executive Chair Chung also outlined concrete initiatives to position Hyundai Motor Group as a leader in human-centered Physical AI through strategic collaborations with NVIDIA and Waymo, as well as Boston Dynamics’ strategic partnership with Google DeepMind.
“By combining Hyundai Motor Group’s strengths in manufacturing, robotics and data with the capabilities of global technology leaders, we can help create a new innovation ecosystem for the Physical AI era.” — Hyundai Motor Group Executive Chair Euisun Chung
NVIDIA – Advancing Physical AI infrastructure and talent development
Hyundai Motor Group is expanding collaboration with NVIDIA to strengthen Physical AI infrastructure and cultivate AI talent. Building on a supply agreement for 50,000 NVIDIA Blackwell GPUs and a memorandum of understanding signed last year to advance Korea’s Physical AI capabilities, the Group is pursuing a range of initiatives, including the establishment of Hyundai Motor Group Robot Application Center, as well as various collaborations aimed at strengthening Korea’s Physical AI infrastructure and AI talent ecosystem, including the NVIDIA’s AI Technology Center.
In manufacturing, the Group is leveraging NVIDIA’s platform to create more sophisticated digital twins of production facilities, enhancing process design, operational optimization and validation efficiency. The collaboration also includes the integration of NVIDIA’s autonomous driving solutions, including automotive semiconductors, sensors and architecture, with Hyundai Motor Group vehicle platforms.
Waymo – Strengthening autonomous driving collaboration
Hyundai Motor Group continues to strengthen its strategic partnership with Waymo in the autonomous driving sector to support the development of a safe and innovative autonomous driving ecosystem. Autonomous driving vehicles require a wide range of specialized capabilities, including redundant systems for steering, braking, power and communications, dedicated features such as power-operated doors, as well as enhanced functional safety and cybersecurity technologies.
Hyundai Motor Group plans to produce IONIQ 5 vehicles with specific autonomous-ready modifications at Hyundai Motor Group Metaplant America (HMGMA) in Georgia.
Google DeepMind – Accelerating next-generation humanoid robotics
Boston Dynamics has established a strategic partnership with Google DeepMind to accelerate the development of next-generation humanoid robots. Advanced AI models and training systems are essential for robots to perform complex tasks in real-world environments and collaborate effectively with people. Through this partnership, Boston Dynamics robots are expected to achieve greater autonomy and adapt more effectively to complex operating environments.
Hyundai Motor Group plans to establish a robot production facility in the U.S. with an annual capacity of up to 30,000 units by 2028. The Atlas humanoid robot will first be deployed at production facilities including HMGMA before broader deployment is expanded through phased validation.
Building an Open Ecosystem Through the Robot Reference Platform and Continued Investment in Korea’s Physical AI Future
Executive Chair Chung also outlined initiatives aimed at supporting the growth of Korea’s Physical AI ecosystem through open collaboration and continued investment.
“The outcomes of collaboration with global technology leaders should contribute to the growth of Korea’s Physical AI industry. To that end, Hyundai Motor Group plans to foster an open ecosystem that supports innovation in robotics and AI technologies.” — Hyundai Motor Group Executive Chair Euisun Chung
Key initiatives to build an open ecosystem for robotics and AI innovation include:
Robot Reference Platform: Hyundai Motor Group and NVIDIA are collaborating to develop a Robot Reference Platform that combines Hyundai Motor Group’s and NVIDIA’s Physical AI capabilities.
The platform will provide research robot models to universities, research institutes and startups, helping foster an open ecosystem that supports technological innovation and the development of Physical AI talent while contributing to the broader growth of Korea’s robotics and AI industries.
Supporting universities, research institutes and startups: The Robot Reference Platform is expected to provide universities, research institutes and startups with a standardized hardware and software environment, enabling them to more easily develop and validate Physical AI technologies. The initiative aims to help address challenges faced by organizations with innovative ideas but limited access to commercialization opportunities and validation infrastructure.
Hyundai Motor Group is also continuing large-scale investments aimed at driving the next leap forward in Korea’s industrial and technology ecosystem. Continued investments in Korea’s industrial and technology ecosystem include:
Saemangeum AI Valley: In the Saemangeum region of Jeonbuk State, the Group is developing Saemangeum AI Valley, which includes an approximate KRW 9 trillion investment in AI data centers, robotics manufacturing clusters, electrolyzer plants and AI hydrogen city infrastructure.
In particular, the robotics manufacturing cluster will serve not only as a production base for the Group’s own robotics products, but also as a robotics foundry that provides manufacturing services for small and medium-sized enterprises that lack manufacturing expertise.
Advanced industrial hubs in the Yeongnam region: Hyundai Motor Group plans to invest a total of KRW 42 trillion over the next decade to foster advanced industrial hubs focused on AI-driven manufacturing, future aerospace industries and sustainable energy infrastructure.
Through these initiatives, Hyundai Motor Group aims to strengthen key foundations for the Physical AI era, including data and energy infrastructure, robotics production capabilities and real-world validation capabilities. The Group also expects these investments to contribute to enhanced industrial competitiveness, balanced regional development, job creation and broader economic vitality in Korea.
About Hyundai Motor Group
Hyundai Motor Group is a global enterprise that has created a value chain based on mobility, steel, and construction, as well as logistics, finance, IT, and service. With about 250,000 employees worldwide, the Group’s mobility brands include Hyundai, Kia, and Genesis. Armed with creative thinking, cooperative communication, and the will to take on any challenges, we strive to create a better future for all.
More information about Hyundai Motor Group can be found at: http://www.hyundaimotorgroup.com or Newsroom: Media Hub by Hyundai, Kia Global Newsroom, Genesis Newsroom
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SOURCE Hyundai Motor Company
Technology
From China Mobile’s Call Upgrade to the Commercial Launch of “Calling + AI” by Leading Operators: AI Is Reshaping the Value of Native Calling
Published
2 hours agoon
July 25, 2026By
BEIJING, July 25, 2026 /PRNewswire/ — On June 15, 2026, China Mobile announced a comprehensive upgrade to its traditional calling services, ushering in a next-generation calling experience defined by HD, intelligence, and security. This milestone not only marks a major leap in telecommunication innovation but also reflects a global, inevitable shift: the transformation of basic communication into intelligent, inclusive services.
Breaking Experience Barriers and Redefining the Paradigm of Basic Calling
Overcoming the limitations of traditional, voice-only interactions, China Mobile has leveraged its mature VoLTE/VoNR network foundation to deeply integrate AI models with HD audio and video capabilities. Without requiring users to change their phones or SIM cards, seven core AI functions are now seamlessly embedded into the native dialer interface.
These upgrades include Live Captions bridge communication gaps for the elderly and hearing-impaired; HD video calls and AI noise reduction create a crystal-clear, immersive calling experience; AI anti-fraud intercepts high-risk calls in real time to safeguard users’ assets. Furthermore, the introduction of Data Channel (DC) technology and visual call menus transforms standard calls into agile, interactive service windows, enabling multi-party collaboration and seamless business transactions directly within the call. Through this initiative, China Mobile has successfully evolved traditional calls from a mere voice pipeline into a secure, integrated information hub.
“Calling + AI” Becomes a Strategic Consensus Among Global Leading Operators
From a global perspective, China Mobile’s call upgrade is not an isolated milestone, but a microcosm of the global telecommunications industry’s broader transformation. Throughout 2026, major operators worldwide are accelerating the commercial deployment of “Calling + AI” solutions:
Deutsche Telekom launched Magenta AI, leveraging artificial intelligence to enhance calling across all scenarios;T-Mobile US introduced a network-side, real-time translation service covering over 80 languages, effectively breaking down cross-border communication barriers;Saudi stc rolled out English-Arabic bilingual simultaneous interpretation, which has now entered large-scale commercial trials;South Korea’s LG U+ launched its ixi-O intelligent calling assistant, shifting the user experience from passive responses to proactive smart interactions and earning three prestigious GLOMO industry awards.
The synchronized efforts of these global leaders confirm that basic calling services have officially entered a new era of AI integration. Deeply empowered by artificial intelligence, “Calling + AI” has become the definitive blueprint for the intelligent transformation of the global telecommunications industry. As operators continue to refine these native capabilities, the traditional voice network is poised to reclaim its position as the most secure, ubiquitous, and valuable entry point in the AI era.
View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/from-china-mobiles-call-upgrade-to-the-commercial-launch-of-calling–ai-by-leading-operators-ai-is-reshaping-the-value-of-native-calling-302834622.html
SOURCE China Mobile
Technology
Trip.com Group Sincerely Accepts Administrative Penalty Decision Issued by the State Administration for Market Regulation of the People’s Republic of China
Published
5 hours agoon
July 25, 2026By
SINGAPORE, July 25, 2026 /PRNewswire/ — Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) today announced that it has received the administrative penalty decision issued by the State Administration for Market Regulation of the People’s Republic of China.
Trip.com Group sincerely accepts the decision and will adopt rectification measures in accordance with applicable laws and regulations to implement the decision’s requirements. The Company will strengthen its long-term governance mechanisms and strive to contribute to the sustainable development of the travel industry.
Trip.com Group’s management team will host a conference call at 8:00 AM U.S. Eastern Time on July 27, 2026 (or 8:00 PM Hong Kong Time on July 27, 2026).
The conference call will be available on Webcast live at: http://investors.trip.com.
All participants must pre-register to join this conference call using the participant registration link below:
https://register-conf.media-server.com/register/BIb78e08d8f18340c4882a7e4ab961906b.
Upon registration, each participant will receive details for this conference call, including dial-in numbers and a unique access PIN. To join the conference, please dial the number provided, enter your PIN, and you will join the conference instantly.
For further information, please contact:
Investor Relations
Trip.com Group Limited
Email: iremail@trip.com
SOURCE Trip.com Group Limited
Hyundai Motor Group Executive Chair Euisun Chung Announces Physical AI Vision at San Francisco AI Summit
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