[184 Pages Report] The mmWave 5G Market size was estimated at USD 3.38 billion in 2023 and expected to reach USD 3.90 billion in 2024, at a CAGR 16.10% to reach USD 9.62 billion by 2030.
Millimeter wave (mmWave) 5G is a major component of the fifth generation of wireless communication networks, designed to provide enhanced data speeds, ultra-low latency, and superior connectivity. mmWave 5G expands the available spectrum for mobile broadband and enables faster data transmission than traditional sub-6 GHz frequency bands by operating at high-frequency bands ranging from 24 GHz to 100 GHz. mmWave 5G is particularly beneficial for applications that demand extremely high data rates, such as augmented reality (AR), virtual reality (VR), and ultra-high-definition video streaming. mmWave 5G supports the massive connectivity required for the Internet of Things (IoT) devices, allowing for efficient communication among many connected devices and contributing to the development of smart cities, industrial automation, and smart transportation systems. mmWave 5G can aid in scientific research, such as radio astronomy, atmospheric studies, and material science, by providing high-bandwidth communication links for data transmission and remote control of instruments. Moreover, the demand for consumer-based enhanced mobile broadband (eMBB) services in high-capacity areas has rapidly increased, leading to the extensive deployment of 5G mobile networks with immediate improvements in user experience and network efficiency. However, the high cost associated with its deployment and limited range, poor building penetration, coverage, and connectivity significantly impedes the adoption of mmWave 5G networks. In addition, the evolution of wireless data applications and the popularity of smart devices have created a need for more efficient and faster data transmission methods, further contributing to market development.
Regional Insights
In the Americas region, the United States and Canada focus on expanding their capacity for mmWave 5G deployment in urban areas and rural communities. Regional market players, including AT&T, Verizon, T-Mobile, and Sprint, are actively deploying mmWave 5G networks across different cities owing to increased investments in infrastructure development, such as small cells and fiber-optic backhaul networks to support high-speed connectivity for customers. Regulatory bodies, including the Federal Communications Commission (FCC), have been auctioning off spectrum licenses to wireless carriers for a swift adoption of mmWave frequencies. The Asia-Pacific region, with countries including Japan, South Korea, China, Australia, and India is witnessing substantial increase in mmWave 5G deployment. In Australia, regional players are making significant progress in deploying mmWave networks across major cities. In the EMEA region, countries actively adapt mmWave 5G technology to strengthen their position as global innovation hubs. Key EU countries, including Germany, France, United Kingdom, Italy, Spain, and Sweden, have conducted successful trials of mmWave 5G deployments with multiple carriers involved. In the Middle East, Saudi Arabia, and the United Arab Emirates, extensive investments have been observed in infrastructure development projects to incorporate mmWave technology into their national broadband plans. African nations are gradually adopting this technology, with countries such as Nigeria and South Africa actively conducting tests on different frequency bands for possible future deployment of the next-generation communication service.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the mmWave 5G Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the mmWave 5G Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the mmWave 5G Market, highlighting leading vendors and their innovative profiles. These include ADTRAN, Inc., Advanced Micro Devices, Inc., Airspan Networks Inc., ALCAN Systems GmbH, Analog Devices, Inc., Anritsu Corporation, AT&T Inc., Cisco Systems, Inc., Corning Incorporated, Ericsson AB, Fujitsu Limited, Huawei Technologies Co., Ltd., Keysight Technologies, Mavenir Systems, Inc., MediaTek Inc., Movandi Corporation, NEC Corporation, Nokia Corporation, NXP Semiconductors N.V., Qorvo Inc., Qualcomm Technologies, Inc., Rakuten Mobile, Inc., Renesas Electronics Corporation, Samsung Electronics Co., Ltd., Singtel, Sivers Semiconductors AB, T?Mobile USA, Inc., Verana Networks, Inc., Verizon Communications Inc., and ZTE Corporation.
Market Segmentation & Coverage
This research report categorizes the mmWave 5G Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Component
- Hardware
- Antennas & Transceiver Components
- Communication & Networking Components
- Frequency Sources & Related Components
- Power & Battery Components
- RF & Radio Components
- Sensors & Controls
- Services
- Managed Services
- Professional Services
- Solutions
- Hardware
- Bandwidth
- 24GHz to 57GHz
- 57GHz to 95GHz
- 95GHz to 300GHz
- Use Case
- eMBB
- FWA
- mMTC
- URLLC
- End User
- Aerospace & Defense
- Automotive & Transportation
- Healthcare & Life Sciences
- Media & Entertainment
- Public Safety
- Telecommunication
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report offers valuable insights on the following aspects:
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
- What is the market size and forecast of the mmWave 5G Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the mmWave 5G Market?
- What are the technology trends and regulatory frameworks in the mmWave 5G Market?
- What is the market share of the leading vendors in the mmWave 5G Market?
- Which modes and strategic moves are suitable for entering the mmWave 5G Market?
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