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Peraso (NASDAQ: PRSO) has established itself as a prominent figure in the rapidly expanding mmWave technology market, gaining notable recognition in this sector. On Wednesday, June 12, 2024, the stock experienced a surge of 17.32%, closing at $1.49 with a trading volume of 246,526 shares. Furthermore, Ladenburg Thalmann, a distinguished Wall Street firm since 1876, initiated coverage of Peraso on the same day.

According to research by Grandview Research in January 2024, the global mmWave market reached $3.75 billion in 2023. The study indicates that the application of mmWave technology in consumer-related sectors could drive a new market, creating a potential paradigm shift and leading to a compound annual growth rate (CAGR) of around 40% until 2030.

The mmWave technology market is projected to exceed $55 billion by the end of the decade, fueled by the growing use of bandwidth-intensive applications and the demand for high-speed IoT solutions. Established in 2009, Peraso has been dedicated to mmWave solutions, emerging as the leading player in mmWave device production and pioneering high-volume mmWave production test methodologies.

Furthermore, Peraso’s industry profile continues to rise, the company will participate in the 16th Annual CEO Investor Summit 2024. The event will take place at the St. Regis Hotel in San Francisco, California, on July 10. Peraso’s CEO, Ron Glibbery, and CFO, Jim Sullivan, will attend the summit.

Several major public companies in the millimeter wave (mmWave) technology sector include: AT&T Inc. (NYSE: T), Nokia Corporation (NYSE: NOK), Ericsson (NASDAQ: ERIC), Qualcomm Incorporated (NASDAQ: QCOM), among others.