Extremely High Frequency Technology Market Segment Analysis- by Application
Based on application segmentation, Satellite Communication is analyzed to grow with the highest CAGR of around 22.8% in the global Extremely High Frequency Technology Market during the forecast period 2021-2026. Most of the technologically developed nations depend on satellite communication services for national security, owing to its wide coverage, easy installation, high security as well as location independence, thus creating opportunities for the adoption of Extremely High Frequency Technology. Moreover, government investments in satellite communications for military applications will increase the demand of Extremely High Frequency Technology among satellite communication services companies in the long run. In May 2021, Airbus Group, an international pioneer company in aerospace and defence sector, awarded multiple contracts by UK Ministry of Defence (MoD) for Skynet5 Military Satellite Communication Services. Skynet5 SATCOM Services provides secure voice and highspeed data communication to military personnels in battlefield. Such developments can further influence the market growth of extremely high frequency technology in the long run.
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Extremely High Frequency Technology Market Segment Analysis- by End-User
Based on end-user segmentation, Cellular & Telecommunication is analyzed to grow with the highest CAGR of around 23.6% in the global Extremely High Frequency Technology Market during the forecast period 2021-2026, owing to the adoption of Extremely High Frequency Technology for deployment of 5G network. Extremely High Frequency Technology is used for high speed internet system such as 5G technology for data transmission networks, owing to its large availability of bandwidth. Additionally telecommunications giants are investing and partnering for deployment of 5G network infrastructure will create opportunities for the growth of the extremely high frequency market. In October 2020, Ericsson and Bharti Airtel signed a contract for the deployment of 5G ready radio network in India, thus creating opportunities for the adoption of Extremely High Frequency Technology. Such developments can further influence the market growth of extremely high frequency technology in the long run.
Extremely High Frequency Technology Market Segment Analysis – by Geography
North America held the highest Extremely High Frequency Technology Market share of around 38.6% in the global Extremely High Frequency Technology market in 2020 and is further set to grow at a significant rate during the forecast period 2021-2026, owing to the growing adoption of extremely high frequency in IT & Telecommunications. The factors such as investments in the telecommunication industry, broadband speed improvement and deployment of 5G Network will be contributing to the market growth across the North American region in long run. For instance, in April 2021, USA Government proposed to invest $100 Billion over the span of 8 years to expand high-speed broadband access to the entire United States of America, thus creating opportunities for the adoption of Extremely High Frequency Technology. Moreover, increase in demand for extremely high frequency to roll out 5G services as well as for satellite communication will create opportunities for the growth of the extremely high frequency market. In August 2021, Government of Canada announced to invest $1.44 billion in Telesat, one of the worlds largest and most innovative satellite operators, to ensure affordable broadband Internet access and 5G connectivity for entire Canada. Such investments can further influence the market growth of extremely high frequency technology in the long run.
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Extremely High Frequency Technology Market- Drivers
Increase in demand for connected devices
Increasing demand of connected devices is set to be one of the major factors analyzed to drive the market forward during the forecast period 2021-2026. The factors such as high living standard and change in consumer preference have been contributing to the Extremely High Frequency Technology market growth in long run. Rise in demand for connected devices such as smart phones, tablets and more accelerates the demand for higher bandwidth to use for navigation purpose as well as for data-intensive services such as video streaming, online gaming, video conferencing and so on, thus creating opportunities for the growth of the extremely high frequency market. APAC region is the manufacturing hub of connected devices. As per a recent Our World in Data Study, APAC region has the largest number of internet users globally with China ranked first with 854.5 million users and India being second with 687.6 million users. Such factors are anticipated to increase demand for the extremely high frequency technology market globally.
Increase in demand for extremely high frequency technology in Military and Defence
Rise in demand for extremely high frequency technology in Military, Defence and aerospace is set to be one of the major factors analyzed to drive the market forward during the forecast period 2021-2026. Extremely High Frequency technology is used in satellite and radar communication in combat scenarios. By using extremely high frequency technology, quick exchange of important information like orders and commands from any location can be done with high security. Additionally, the establishment of Space Force with a $17.4 billion budget in 2022 to amplify tactical warfare skills on ground, air and water will accelerate the demand for Extremely High Frequency Technology in future. For instance, in March 2020, United States of America new Space Force launched Advanced Extremely High Frequency Satellite for military communications. Such factors are anticipated to accelerate demand for the extremely high frequency technology market worldwide.
Extremely High Frequency Technology Market- Challenges
Rise in Health Concern
Though Extremely High Frequency Technology will make wireless communication seamless but at the same raises health concerns. Rises in health concerns act as a major challenge restraining the market growth of Extremely High Frequency Technology Market. Potential exposure to 5G network which uses Extremely High Frequency technology band will cause acute and long term health effects such as type 2 diabetes, heart disease and mental disturbances such as anxiety, depression and suicidal tendencies. Moreover, the operation of extremely high frequency radar is severely affected due to interference from neighbouring Wi-Fi/cellular hotspots, electric poles and cellular towers is the other factor that impedes the growth of the market. Owing to the above mentioned factors, adoption of extremely high frequency technology will be significantly impacted, thus hampering its market growth.
Extremely High Frequency Technology Market Landscape
Partnerships, acquisitions and collaborations along with product launches are the key strategies embraced by the players in the Extremely High Frequency Technology market. The Extremely High Frequency Technology Market top 10 companies include Bridgewave Communication, L3 Technologies Inc, E-Band Communications LLC, NEC Corporation, Key sight Technologies, Boeing Lockheed, Martin Northrop, Grumman, Raytheon Technology Corporation and Thales Group.
Acquisitions/Technology Launches/Partnerships
In May 2021, Keysight Technologies announced N9042B UXA X-Series signal analyzer solution to enables customers to test the performance of millimetre-wave/ extremely high frequency technology innovations in 5G, aerospace & defence and satellite communications.
In January 2020, NEC Corporation developed an extremely high frequency antenna radio unit for use of 5G spectrum.
Key Takeaways
Telecommunication is the fastest growing segment in Extremely High Frequency Market, owing to the deployment of 5G network.
North America led the market in 2020 with a share of 38.6% due to growing investment for improved broadband internet access.
Rise in demand for extremely high frequency technology in Military, Defence and aerospace is set to be one of the major factors analyzed to drive the market forward during the forecast period 2021-2026.
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