DUBLIN, Dec 1, 2016 /PRNewswire/ -- Research and Markets has announced the addition of the "Global Millimeter Wave Technology Equipment Market 2016-2020" report to their offering.
The global millimeter wave technology equipment market to grow at a CAGR of 47.34% during the period 2016-2020. Global Millimeter Wave Technology Equipment Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers the revenue generated from the sale of new millimeter wave technology equipment. One of latest trends in the market is cellular network advancements. Smartphones, tablets, mobile hotspots, and data cards are the devices that are gaining popularity among individual consumers due to increasing access to mobile internet. Many telecom operators are planning to shutdown 2G connectivity by the end of this decade, which will increase the adoption of devices that are capable of 3G or 4G connections. According to the report, one of the primary drivers in the market is proliferation of smartphones and tablets. The global smartphone shipments amounted to about 1.4 billion units in 2015 and almost 1.3 billion units in 2014. This is a massive growth considering shipments of closed to 300 million smartphones in 2010. The global tablet market has also registered significant growth in shipments, from just 20 million units in 2010 to 289.4 million in 2015. Further, the report states that one major challenge in the market is range barrier in millimeter wave equipment. The major growth constraint for the millimeter wave technology equipment market is the range of the equipment. Millimeter wave equipment has short distance coverage of up to 3 km, depending on weather conditions. Some of the factors that affect its range are rainfall, humidity, and absorption by atmospheric oxygen. Moreover, the link prices are quite high, and there are no reductions for large-scale deployment. Vendors are working hard to bring down the implementation cost as there is a threat from other emerging technologies that can replace millimeter wave technology. One such emerging technology is free-space optics. Free-space optics offers full-duplex Gigabit Ethernet throughput. This technology does not require a license and can be implemented within 24 hours. Thus, millimeter wave technology faces tough competition on a global scale.