Global mmWave 5G Market Share Estimated to be Worth USD 7.51 Billion by 2030, at 14.3% CAGR: Polaris Market Research

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Nov 14, 2022, 10:12 ET

NEW YORK, Nov. 14, 2022 /PRNewswire/ -- Polaris Market Research recently published [115+ Pages] research report on "mmWave 5G Market Share, Size, Trends, Industry Analysis Report, By Component; By Use Case (eMBB, FWA, mMTC, URLLC); By Application; By Bandwidth; By End-Use; By Region; Segment Forecast, 2022 - 2030" in its research database.

According to the research report, the global mmWave 5G market share was valued at USD 2.31 billion in 2021 and is expected to reach USD 7.51 Billion by 2030, growing at a CAGR of 14.3% during the forecast period.

What is mmWave 5G? What is Expected mmWave 5G Market Share?

Overview

mmWave 5G is a cellular technology that provides access to higher frequency radio bands ranging from 24GHz to 40GHz. mmWave 5G is now adopted by wireless ecosystems worldwide because it supports high capacity with ultrafast speeds. The technology is expected to be most appropriate in urban areas to handle the increasing capacity needs of users and their demand for more data. For instance, all leading carriers in the United States offer the complete range of 5G flagship millimeter-wave phones and 5G millimeter-wave services.

Some of the key benefits of mmWave 5G includes good coverage, easy scaling, enhanced capacity and connectivity, low latency, and high capacity. The demand for mmWave 5G market is majorly driven by the increasing demand for high-speed connectivity and a surge in the growth of virtualization in the networking sector. Various advantages of mmWave technology, such as high bandwidth and secure transmission, are expected to fuel the market growth.

Request Sample Copy of "mmWave 5G Market" Research Report @ https://www.polarismarketresearch.com/industry-analysis/mmwave-5g-market/request-for-sample

Our Free Sample Report Includes

Report introduction, overview, and in-depth industry analysis
Breakdown data by regions, type, players, and applications
Competitive landscape and leading competitor market shares
110+ pages research report
Offers chapter-wise instruction on request
Includes market presence across different geographies with share, size, and trends
Updated list of tables and figures
The report covers leading players with their business strategies
Factors and fact research methodology

Some of the Top Market Players Are:

Airspan Networks
Alcan Systems
AMD
AT&T
Corning
Ericsson
Fastweb
Fujitsu
Huawei
JMA Wireless
Keysight Technologies
Mavenir
Movandi
Nokia
NTT Docomo
NXP Semiconductors
Pharrowtech
Pivotal Commware
Qualcomm
Rakuten Mobile
Renesas Electronics Coerporation
Samsung
Singtel
Sivers Semiconductors
Softbank
Verana Networks
Verizon Communications Inc

For Additional List of Players and Detail Information, Download a Report PDF Brochure

Growth Driving Factors

Growing demand for high bandwidth-intensive applications favors the market growth

The rising shift from fiber-based wired communication to mmWave 5G due to its network performance is expected to create new opportunities in the mmWave 5G market for wireless broadband services, thus propelling the growth of the industry. A surge in a number of research & development activities in MMW technology, as well as growing demand for this technology in the telecommunications sector, is expected to accelerate the mmWave 5G industry expansion. The market is also booming due to the growing usage of smartphones across developed and developing nations, increasing requirements for cloud gaming, and increasing investment of service operators.

Moreover, high demand for bandwidth-intensive applications, and rising demand for high-bandwidth, high-speed internet across the telecom sector are factors boosting the mmWave 5G market size. Besides, mmWave technology has various applications, including the internet of things (IoT), such as VR/AR, high-quality video, real-time surveillance cameras, and live streaming, which is augmenting its demand. This is another factor accelerating the market growth.

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Recent Developments

In February 2022, Fastweb announced a collaboration with Qualcomm Technologies to commercialize mmWave 5G services in Italy using snapdragon X65 and X62, which will have access to residential and commercial customers.

Segmental Analysis

Hardware segment held the biggest share in 2021

On the component basis, the hardware segment witnessed the largest mmWave 5G market share in 2021 due to its lightweight and compact structure. The high demand for antennae and transceivers due to their properties, such as reduced interference, improved signal-to-interference-noise-ratio, and system performance, propels the market growth. Further, antennas are used in compact IoT devices due to their small size and larger bandwidth, which is anticipated to boost segment growth in the market.

Enhanced mobile broadband (eMBB) is likely to dominate the market

Based on the use case, the enhanced mobile broadband (eMBB) is predicted to witness the largest market share attributing to the growing penetration of mmWave spectrum in the densest urban areas with developed nations and locations where large amount of is produced, such as transport hubs, urban environments, and event venues.

AR/VR is projected to generate a major CAGR over the foreseen period

On the basis of application mmWave 5G market segmentations, the AR/VR segment is estimated to dominate the market during the anticipated period. This is because AR/VR, when combined with mmWave 5G, offers improved end-to-end latency and user experience.

Telecom is projected to record the fastest growth during the forecast period

By end use, the telecom industry is anticipated to grow fastest throughout the projected period. This growth can be attributed to the high adoption of mmWave technology in smartphones and telecom infrastructure. In addition, escalating demand for high-speed data transfer from various commercial industries, such as IT offices, is anticipated to bolster segmental growth.

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mmWave 5G Market: Report Scope

Report Attribute	Details
Revenue forecast in 2030	USD 7.51 Billion
Market size value in 2022	USD 2.57 Billion
Expected CAGR Growth	14.3% from 2022 - 2030
Base Year	2021
Forecast Year	2022 - 2030
Top Market Players	Airspan Networks, Alcan Systems, AMD, AT&T, Corning, Ericsson, Fastweb, Fujitsu, Huawei, JMA Wireless, Keysight Technologies, Mavenir, Movandi, Nokia, NTT Docomo, NXP Semiconductors, Pharrowtech, Pivotal Commware, Qualcomm, Rakuten Mobile, Renesas Electronics Coerporation, Samsung, Singtel, Sivers Semiconductors, Softbank, Verana Networks, Verizon Communications Inc.
Segments Covered	By Component, By Use Case, By Application, By Bandwidth, By End-Use, By Region
Customization Options	Customized purchase options are available to meet any research needs. Explore customized purchase options

Geographic Overview

North America will dominate the market with the fastest growth during the foreseen period

On a geographic basis, North America witnessed the largest revenue share and is expected to maintain its dominance during the predicted period due to the rising adoption of millimeter wave technology by leading market players across the countries. Also, growing number of investments by many commercial and telecom industries in developing mmWave 5G technology it anticipated to accelerate the mmWave 5G market sales during the assessment period.

Furthermore, Asia Pacific is likely to be the second largest region because of rapid digitization and consumer transformation from LTE to 5g network. The incorporation of mmWave 5G with artificial intelligence and augmented reality delivers solutions in the healthcare sector, which is expected to drive market growth in the Asia Pacific.

Browse the Detail Report "mmWave 5G Market Share, Size, Trends, Industry Analysis Report, By Component; By Use Case (eMBB, FWA, mMTC, URLLC); By Application; By Bandwidth; By End-Use; By Region; Segment Forecast, 2022 - 2030" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/mmwave-5g-market

For Additional Information OR Media Enquiry, Please Mail At: [email protected]

Polaris Market Research has segmented the mmWave 5G market report based on component, use case, application, bandwidth, end-use, and region:

By Component Outlook

Hardware

Antennas and Transceiver Components
Communication and Networking Components
Frequency and Sources and Related Components
RF and Radio Components
Sensors and Controls
Power and Battery Components
Other Hardware

Solutions
Services

Professional Services

Consulting
Development and Integration
Support and Maintenance

Managed Services

By Use Case Outlook

eMBB
FWA
mMTC
URLLC

By Application Outlook

Real-time Surveillance Cameras
AR/VR
Industry 4.0
Live Streaming
Transport Connectivity
Ultra-High-Definition Video
Other Applications

By Bandwidth Outlook

24ghz to 57ghz
57ghz to 95ghz
95ghz to 300ghz

By End-Use Outlook

Aerospace and Defense
Telecom
Media and Entertainment
Automotive and Transportation
Public Safety
Healthcare and Life Sciences
Other

By Region Outlook

North America (U.S., Canada)
Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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