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2 MILLIMETER WAVE TECHNOLOGY MARKET By Components (Sensors, Radio, Networking), Products (MM Scanners, MM RADARs, MM Small Cells), Applications (Communications, Aerospace, Healthcare, Automotive, Industrial) MarketsandMarkets

3 MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world. MarketsandMarkets also provides mult i-client reports, company profiles, databases, and custom research services. MarketsandMarkets covers thirteen industry verticals, including advanced materials, automotives and transportation, banking and financial services, biotechnology, chemicals, consumer goods, energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, semiconductor and electronics, and telecommunications and IT. Copyright 2014 MarketsandMarkets All Rights Reserved. This document contains highly confidential information and is the sole property of MarketsandMarkets. No part of it may be circulated, copied, quoted, or otherwise reproduced without the approval of MarketsandMarkets. MarketsandMarkets Sample Page 2

4 1 INTRODUCTION 1.1 KEY TAKE-AWAYS Market statistics with detailed classifications and splits by revenue and volume The key trends related to the product technology, prices, and the applications that shape and influence market Analysis of the global market with special focus on high growth application in each vertical and fast growing application market segments Impact analysis of the market dynamics with factors currently driving and restraining the growth of the market, along with their impact in the short, medium, and long term landscapes Detailed Porter's analysis, market life cycle analysis along with technology and market roadmaps, evolution and timelines of each type of MM Waves system and their respective markets PEST analysis of the market across various geographies, allied industry segments and value chain analysis of the global industry Detailed segmentation of global market by technology with a focus on cross segment markets like components and frequency bands, products, applications, and verticals. Illustrative segmentation, analysis, and forecast of the major geographical markets to give an overall view of the global market The future of the global market and industry from both - technical and marketoriented perspectives with techno-market oriented roadmaps till 2020 Detailed competitive landscape with identification of the key players with respect to each type of market, in-depth market share analysis with individual revenue, market shares, and market share rankings Competitive intelligence from the company profiles, key player strategies, gamechanging developments such as product launches and acquisitions MarketsandMarkets Sample Page 3

5 1.2 ANALYST INSIGHTS The MM wave industry value chain is closely interlaced to the value chain of microwave and traditional RF chipset. From last couple of years MM wave value chain is been rapidly evolving into strong, well interlinked value chain. Several new technologies and standards, frequency allocations, product developments, new business models have come up owing to the application potential of MM Wave technology in various fields The next few years will be crucial for the MM wave industry as massive developments are expected to take place over the next seven years. In addition to this explosive growth in the number of players, mainly among component and product manufacturers and with migration of established players from RF and microwave is also expected MM Wave technology has found wide use and applications in three major fields telecommunication, imaging and scanning, and RADAR. Due to the advanced and suitable features offered by MM Wave in mobile backhaul application, the telecommunication field will be a huge platform for MM Wave technology to grow. Imaging and scanning is the primary field responsible for commercial birth of MM Wave technology in a large scale, while RADAR field is still developing stage offering lots of space for MM Wave technology to penetrate In terms of life-cycle of the market, all the application fields for MM Wave are still in the initial stage and expected to take off in near future. MM wave market for telecommunication is expected to boom exponentially by 2015, in RADAR by 2016, while that in imaging and scanning had already taken off in early 2013 The market is extremely patchy, in terms of frequency bands. Technically, commercial MM Wave equipment can be ranged anywhere between 8 GHz and 300 GHz. Of several spectrums, the ones that are expected to lead the market in terms of growth are GHz, GHz, GHz, and the entire GHz spectrum. In addition to this several novel frequency bands are also coming up which includes frequency bands between GHz, GHz and GHz MarketsandMarkets Sample Page 4

6 The main focus of the industry is on the light-licensed E-band, which consists of GHz band, GHz band, and GHz band. All these bands can be used to deploy optimal MM wave products for the telecommunication, RADAR, and satellite communication applications For MM wave radios GHz is the best choice in macro cell applications. Market for MM Wave products in this band is expected to grow at higher CAGR for the next seven years, among the entire light-licensed frequency spectrum MM Wave products. MM wave technology based products/ radios operating at GHz band can largely replace Microwave technology based counterparts An alternative solution would be an unlicensed GHz frequency spectrum, with a wide 7 GHz band for a broad-range of applications, though most optimal for small-cell mobile backhaul MM Wave products. With robust future ahead for small-cell equipment, MM Wave products operating in this band are expected to grab a major share of small-cell equipment market by Two major aspects of concern if this band is focused on would be, firstly the oxygen molecule resonance effect at 60 GHz, affecting the data transfer characteristics a drawback only for this band. The other concern is that this band is also being focused by consumer digital media industry, for wireless media transfer at high data rates over short ranges, with several technologies coming up such as 60 GHz ad Wi-Fi and WiGig In future, mobile backhaul radios, transmission equipment, and enterprise and small-scale networking equipment will witness the highest growth, thus it would have large potential to be used widely in telecommunication for optimal service provisioning and deployment In terms of products, for the mobile and telecommunication field, choice of developing millimeter wave mobile backhaul radios, transmission equipment, and enterprise and smallscale networking equipment would be optimal for the next five years, as these products are forecast to have the highest growth and account for the major share For imaging and scanning field, MM Wave scanners, particularly MM Wave passive scanners rather than active, would be the best choice for scanning and security industry players to focus on investment in MM Wave technology. For companies established in other imaging and MarketsandMarkets Sample Page 5

7 scanning technologies such as X-Ray back-scatter and UV imaging, shift of focus to passive MM Wave scanning technology at this point of time would prove to be beneficial in the long run. However, this product market is highly dependent on collaborations and partnerships in defense applications, and brand value, safety and security preferences in consumer applications The best choice for RADAR and communication system will be focused highly on application specific MM wave radar systems. In addition to this focus on customize solution such as Automotive RADAR, Marine RADAR, Military RADAR, or Aerospace RADAR would be act as a differentiator for the aspirant market leaders Coming to components for MM Wave equipment, the field is extremely fragmented, highly competitive, and offers relatively less revenue potential than that of MM Wave products. The MM Wave component market offers little scope for product differentiation too, neither in terms of specifications, nor in terms of technology. The market is expected to witness migration of established players from related industries such as RF and Microwave, further increasing the existing competition Coming to application sectors, for mobile and telecommunication sector, crucial players would be mobile-backhaul equipment manufacturers. While shifting to MM Wave technology, either light-licensed band based macro-cell equipment, or unlicensed band based small-cell is a must, as MM Wave technology is expected to emerge as the new choice for mobile-backhaul in the telecommunication sector. Though flexibility exists in choice of frequency band, ample focus on data transfer characteristics, data handling capacity, cost and pricing features, industry relations with telecommunication OEM giants (leading cellular service providers, specific to any region) is advisable to stay ahead in the race that s about to begin Airport scanning and security applications having a huge revenue potential in the consumer application sector; however, waiting time for return on investment is too high. Other application such as commercial building and event security, perimeter and surveillance RADAR for institutional applications and wireless sensor networking in building and home automation can be good option for investment; however, market size of these applications are relatively smaller than that of airport scanning and security MarketsandMarkets Sample Page 6

8 For military, defense and aerospace sector, the best choice for investment would be Military and Aerospace RADARs, followed by secure defense communication MM Wave equipment. Focus on the other emerging applications for MM Wave, such as satellite communication, healthcare imaging and scanning is also advisable, as they provide an added advantage of very low or little competition in the current scenario, leaving ample market space to occupy and emerge as a market leader in a niche field by the end of the decade U.S. and Western European region will be the most impacting region on the global MM wave market. Looking at APAC region China, Japan, South Korea, and India will play major role for telecommunication, and imaging and scanning applications 1.3 MARKET INVESTMENT ANALYSIS Given below is a brief market investment analysis for any company/organization to invest in MM wave technology, analyzing the major pro-factors and barriers for investments in this field. FIGURE 1 MARKET INVESTMENT ANALYSIS Barriers for Investments in Global MM Wave Technology Market IMPACT 1 Lack of a strong pool of chipset manufacturers 2 Weak Intermediary Value Chain Segments 3 High Capital Expenditure Monopolies of product manufacturers in specific application fields 4 Pro-factors for Investment in Global MM Wave Technology Market IMPACT 1 Explosive CAGR and Y-o-Y growth for overall market 2 Increasing demand in multiple application fields (Telecom, RADAR and scanning) 3 Early entrants to gain large market share 4 Huge revenue potential for technology product & solution providers Low Impact Medium Impact High Impact Source: MarketsandMarkets Analysis MarketsandMarkets Sample Page 7

9 The figure above showcases the major barriers and pro-factors for investment in MM Wave technology in the current scenario. In addition to this, an impact analysis of these factors (positive impact for pro-factors and negative impact for barriers) on the current MM Wave technology market on a low-medium-high scale is also given in the figure above. Its seems to be the right time for interested players to invest in this industry and reap benefits in the long run as the current market has more positive impact forces from pro-factors than negative impact forces from barriers in the current scenario. Monopolies of product manufacturers in specific application fields, moreover, ones with high potential such as mobile back-haul applications, airport security and screening applications, and so on, is the second major investment barrier (in terms of impact) for this market in the current scenario. Weak or unstable intermediary value chain segments, such as technology developers, assembly, testing, and packaging players in the current industry are another major investment barrier. Lack of a strong pool of foundries and small-sized manufacturing equipment for the current MM Wave technology market (mainly for production of MM Wave semiconductors and components) is the factor that serves as t he barrier wit h maximum impac t on the current market, for investments from various companies. However, in the scenario of pro-factors, three major aspects play a crucial role in positively impacting the investments in the market, namely, expected explosive growth rates (CAGR and Y-o-Y, from 2014 to 2020), increasing demand simultaneously from multiple application fields (mobile backhaul, RADAR, imaging and scanning), and the factor of small key-player pool (relatively) and proven records of early entrants to become market leaders in this market (please refer to the competitive landscape section). These three factors are to have the high impact on boosting investments on MM Wave technology in 2014 and 2015, while the trend of migration of players from Microwave ecosystem to that of MM Wave is another factor with relatively medium impact on the current market. To conclude, 2014 and 2015 are crucial years to decide the future of companies planning to invest in MM Wave technology, and the dynamics of properly planned investments during this time will decide the future of and investment in the most suitable segment of MM Wave (for the investing firm) would lead to reaping of huge revenues in the long run. MarketsandMarkets Sample Page 8

10 1.4 REPORT SCOPE The scope of this report is restricted particularly to the market for final products, devices and equipment that function on MM Wave technology, used in all the applications excluding those in consumer electronics and digital home media. Thus, the term MM Wave Technology Market, and its statistics wherever mentioned refer only to the market for end-products or equipment in six major application verticals Mobile and Telecommunication, Consumer and Commercial, Medical and Healthcare, Industrial and Power, Automotive and Transportation, Military, Defense and Aerospace, and emerging application sectors, completely excluding the consumer electronics, digital home media and networking applications in the Consumer and Commerc ial sec t or. In terms of products, the report s scope is limited to MM Wave telecommunication equipment, MM Wave Scanners and Imaging systems, and MM Wave RADARs and Satellite Communication systems. Accessory and supporting devices, equipment or products such as Ethernet equipment, for example, are not included in the report scope. Moreover, in telecommunication equipment, the major product category considered in the market statistics calculations is MM Wave Radios for mobile-backhaul and enterprise and broadband applications. In terms of frequency, though the term Millimeter wave technology refers technically to any product/appliance operating in the frequency range of 3 GHz to 300 GHz or products in the frequency range of 8 GHz to 120 GHz. In accordance with the above-mentioned aspects (in previous paragraphs), following commercial product marketing industry definitions and nomenclature to be called MM Wave products is considered in the market scope. For the components market, only electronic and electrical components in all types of MM Wave products (as per scope above) were considered in the scope of MM Wave components. This excludes pure mechanical, chemical, and any other type of components from the MM Wave components market scope. As semiconductors are a part of electronic components, the global MM Wave semiconductors market scope is limited to market for any type of semiconductor device integrated into a MM Wave component or MM Wave product (as per scope defined above). MarketsandMarkets Sample Page 9

11 Though the report mentions statistics of Microwave technology products in a few instances, they are purely for comparison analysis and product, component or application markets of no other complementary, substitute or competing technology are considered in the market scope. An illustrative diagram of the complete MM Wave industry monetary chain, showing the clear view of the market is considered and analyzed in this report for quantitative data and statistics of MM Wave technology market, is given below. FIGURE 2 MM WAVE INDUSTRY MONETARY CHAIN AND MARKET SCOPE Overall Market Revenue (Report Scope) Semiconductor Vendors Profit Component Vendors Profit Product Vendors Profit Final System Vendors Profit Semiconductors Sales Revenue Component Sales Revenue Product Sales Revenue Final Equipment Sales Revenue Semiconductors Components Product Complete System End-user Semiconductor Manufacturing Expenditure Device Manufacturing Expenditure Product Development Expenditure System Assembling Expenditure Source: MarketsandMarkets Analysis The figure above shows the flow of money in the form of a monetary chain, illustrating the flow of goods and services from one segment to the other in the MM Wave industry. It also shows the relationship and links between the major industry segments, with the analysis below giving an insight into the effect of these industry segments on the overall market scenario. The figure consists of four major check points, which are the key industry processes, namely- semiconductors, components, products, and complete final system (if product is assembled/integrated into a system or network). MarketsandMarkets Sample Page 10

12 Between each of the check points, there is a flow of revenue shown in terms of horizontal arrows. For example, the right arrow after the second box indicates the total MM Wave components revenue (the total revenue of all MM Wave component suppliers globally), which, if carefully observed, is the purchase capital by the next step, the product manufacturing process. The figure consists of vertical arrows above and below the boxes, among which, the ones below the boxes denote the additional expenditure put in for each process (apart from purchase), in short the industry process expenditure, while the vertical arrows given above denote the total profit earned by the respective players in each process. To connect the flow in mathematical terms, every horizontal arrow is the sum of all the vertical and horizontal arrows, which precede (which are to the left-side of it) it in the figure. For example, the product sales revenue (the third horizontal arrow) is equal to the sum of money spent for components purchase by product manufacturers (ODMs in this report), all the expenditures for product development and manufacturing, and the final profit earned by the product manufacturers. In this report, the value indicated by the third horizontal arrow is given as the quantitative market data for the MM Wave technology market. To better understand the value addition in the monetary chain from each stage till the final stages, the overall revenue at the second stage, that is, the overall sales revenue of components globally stands at approximately $XX million in The overall sales revenue of all products; represented by the third arrow in the figure, stood at approximately $XX million in The difference in the overall revenue between the two stages indicates the value addition in the industry s monetary chain. MarketsandMarkets Sample Page 11

13 1.5 MARKET SEGMENTS AND MARKET ASPECTS COVERED The figure below entails the aspects covered in this report. FIGURE 3 MM WAVE TECHNOLOGY MARKET ASPECTS COVERED Global MM Wave Technology Market Coverage Market Analysis Market Classification Market Landscape Market Overview Industry Analysis Market Analysis By Components By Frequency Bands By Products Competitive Landscape Company Profiles & Key Players By Application By Geography Source: MarketsandMarkets Analysis The figure above shows the various aspects covered in this research study on the global MM Wave technology market. Three major aspects of the complete market are covered in this report. They are the market analysis, market classification, and market landscape. Market Overview (Chapter 4) and Industry Analysis (Chapter 5), along with Market Dynamics (Chapter 6) and additional qualitative analysis account for Market Analysis. Market Classification encompasses segmentation and sub-segmentation of the market by Frequency Bands, Products, Applications, and Geography. Lastly, the current market landscape is covered with detailed competitive landscape and company profiles of all the key players across the ecosystem. MarketsandMarkets Sample Page 12

14 In this report, the global MM Wave technology market is fully segmented into the following categories and the industry trends also covered, by the following aspects: Total Markets: Global MM Wave Technology Market Product Market, Child/Sub- Markets, Related Markets, Complementary Markets (with sub-segmentation), Total Addressable Market (TAM) and Market Penetration of MM Wave technology Child/Sub Markets: Semiconductors Market in MM Wave, Electronic and Electrical Components Market in MM Wave Related Markets: Super High Frequency (SHF 3 to 30 GHz) Equipment Market, Extremely High Frequency (EHF 30 to 300 GHz) Equipment Market Complementary Markets: Microwave Equipment Market; Sub-segmentation into Ethernet-Only Microwave Technology Market, TDM-Only Microwave Technology Market and Hybrid TDM/Ethernet Microwave Technology Market Market by Components: Global MM Wave technology components market, Antennas and Transceiver components, Communication and Networking components, Interface components, Frequency Sources, Multipliers and related components, Imaging components, RF and Radio components, Sensing and Control components, Power and Battery components and other components Market by Frequency: 8 to 43 GHz Frequency MM Wave sub-segments GHz Band, GHz Band; 43 to 80 GHz Frequency MM Wave sub-segments GHz Band, GHz Band; 80 to 300 GHz Frequency MM Wave GHz Band, GHz Band Market by Licensing Nature: Fully-Licensed, Light-Licensed and Unlicensed Frequency Bands MM Wave technology markets Market by Products: MM Scanners and Imaging Systems - Active and Passive; MM RADAR and Satellite Communication Systems - Perimeter and Surveillance RADAR, Application Specific RADAR, Satellite Systems; MM Telecommunication Equipment - Mobile Back-haul Equipment, (sub-segments - Small-Cell and Macro-Cell, Pico-Cell and Femtocell), Enterprise and other networking equipment MarketsandMarkets Sample Page 13

15 Market by Application Sector: MM Wave Markets in Mobile and Telecommunication sector, Consumer and Commercial sector, Healthcare sector, Industrial sector, Automotive and Transportation sector, Military, Defense and Aerospace sector and Emerging and Next Generation applications Market in Mobile and Telecommunication sector: MM Wave market in Mobile Bac k-haul applications and Enterprise Broadband Network applications Market in Consumer and Commercial sector: MM Wave market in Wireless Home Networking (WSN), Airport Scanning and Security, Commercial Building and Eventsecurity (concerts, sports events) and Residential and Institutional security applications Market in Healthcare sector: MM Wave market in Medical Imaging and Scanning and Healthcare Facility applications Market in Industrial sector: MM Wave market in Industrial Automation applications, Industrial Wireless Sensor Networking (IWSN) applications Market in Automotive and Transportation sector: MM Wave market in Automotive RADAR, Marine Transportation RADAR applications Market in Military, Defense and Aerospace sector: MM Wave market in RADAR applications and Satellite Communication applications Market by Geography: North America (sub-segmentation by U.S. and others), Europe (sub-segmentation by U.K., Germany, France and others), Asia-Pacific (subsegmentation by China, Japan, South Korea, India and others), and Rest of the Word (sub-segmentation by Latin America, Middle East and others) Market Competitive Landscape: Market share analysis separately for MM Wave telecommunication product manufacturers, MM Wave scanner manufacturers and MM Wave component manufacturers MarketsandMarkets Sample Page 14

16 1.6 STAKEHOLDERS Listed below are the major fields that stakeholders of the global MM Wave technology market belong to: Raw material and manufacturing equipment suppliers Electronic Design Automation (EDA) and Design Tool vendors Integrated Device Manufacturers (IDMs) MM Wave Foundry players MM Wave Fabless players MM Wave Intellectual property players MM Wave technology platform developers MM Wave Semiconductor Device Manufacturers MM Wave Component Manufacturers MM Wave Product Manufacturers (ODMs) MM Wave Original Equipment Manufacturers (OEMs) ODM and OEM technology solution providers Assembly, Testing, and Packaging vendors Distributors and traders Research Organizations Organizations, Forums, Alliances and Associations MarketsandMarkets Sample Page 15

17 2 MARKET BY GEOGRAPHY 2.1 INTRODUCTION In this section, the global millimeter wave technology market has been segmented on the basis of geography. The total market has been split among four major geographies North America, Europe, Asia-Pacific (APAC), and the Rest of the World (RoW). FIGURE 4 MARKET BY GEOGRAPHY MARKET BY GEOGRAPHY North America Europe APAC Rest of the World U.S. U.K. China Middle East Other Germany Japan Latin-South America France South Korea Others Other India Others Source: MarketsandMarkets Analysis The sub-segmentation in the geographic segmentation of the global millimeter wave technology market is shown in the above figure. Each of the four major geographic markets has been subdivided by the major countries in that region. North America includes the U.S. and others; Europe has been further segmented into the U.K., Germany, France, and others. MarketsandMarkets Sample Page 16

18 APAC has been sub segmented into China, Japan, South Korea, India, and others; whereas the RoW includes the Middle East, Latin America, and others NORTH AMERICA COMMANDS THE MAJOR SHARE OF THE MM WAVE TECHNOLOGY MARKET, WITH A NINEFOLD REVENUE GROWTH EXPECTED TABLE 1 MM WAVE TECHNOLOGY MARKET SIZE (VALUE), BY GEOGRAPHY, ($MILLION) Region CAGR% ( ) North America XX XX XX XX XX XX XX XX Europe XX XX XX XX XX XX XX XX Asia-Pacific XX XX XX XX XX XX XX XX RoW XX XX XX XX XX XX XX XX Total XX XX XX XX XX XX XX XX Source: MarketsandMarkets Analysis The market size in terms of value for the millimeter wave technology is worth $XX million in 2014 and is expected to grow at an estimated CAGR ofxx% reaching $XX million by LTE rollout is expected to drive the market for millimeter wave technology in Europe and APAC. The North American market is expected to grow at a CAGR of XX% from 2014 to 2020, reaching $XX million in Europe and APAC are the fastest growing regions, with expected CAGRs of XX% and XX%, respectively, from 2014 to 2020 due to major growth spurts expected in the telecom sector in the developing countries in these regions. MarketsandMarkets Sample Page 17

19 TABLE 2 MM WAVE TECHNOLOGY MARKET SIZE (VOLUME), BY GEOGRAPHY, (THOUSAND UNITS) Region CAGR% ( ) North America XX XX XX XX XX XX XX XX Europe XX XX XX XX XX XX XX XX Asia-Pacific XX XX XX XX XX XX XX XX RoW XX XX XX XX XX XX XX XX Total XX XX XX XX XX XX XX XX Source: MarketsandMarkets Analysis The global millimeter wave technology market size in terms of volume is expected to grow from XX thousand units in 2014 to XX thousand units by 2020, at a CAGR of XX%. North America commands the highest share of XX thousand units, followed by Europe with XX thousand units. The markets in these regions are expected to grow at CAGRs of XX% and XX% respectively from 2014 to A similar trend as seen in market value is seen in the volume analysis, with North America accounting for the biggest market and Europe and APAC accounting for smaller but faster growing markets. MarketsandMarkets Sample Page 18

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