WILMINGTON, Del., February 14, 2024 (Globe Newswire) — Allied Market Research has published a report titled: “5G millimeter wave technology market By Component (Antenna and Transceiver Components, Frequency Sources and Related, Communications and Networking Components, Imaging Components, Sensors and Controls, Interface Components, Others), By Product (Scanning Systems, Radar and Satellite Communications Systems, Communications Equipment, Others), Frequency Bands (24-57 GHz, 57-95 GHz, 95-300 GHz) and Applications (Mobile & Telecommunications, Consumer & Commercial, Healthcare, Industrial, Automotive & Transportation, Imaging): Global Opportunity Analysis and Industry Forecasts , 2023-2032”. According to the report, the global 5G mmWave technology industry will generate $2.58 billion in 2022 and is expected to reach $10.04 billion by 2032, increasing by 14.69% from 2023 to 2032. It is recording a CAGR.
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- 320 – Page
- 182 – Table
- 60 – Chart
Key determinants of growth
The 5G mmWave technology market is expected to witness significant expansion during the forecast period. This growth is primarily driven by factors such as increasing network efficiency and capacity, promoting advanced edge computing, and innovative applications in various fields. Additionally, the market is expected to further benefit from the strengthening of emergency services and public safety networks. However, health and public concerns will significantly limit the growth of the 5G mmWave technology market during this period.
Report scope and details:
| Report scope | detail |
| Forecast period | 2022-2032 |
| base year | 2022 |
| Market size in 2022 | $2.58 billion |
| Market size in 2032 | $10.1 billion |
| CAGR | 14.7% |
| Number of pages in the report | 320 |
| Target segment | components, products, frequency bands, applications, and regions. |
| driver | Network efficiency and capacity to drive innovative applications of advanced edge computing in diverse fields |
| opportunity | Strengthening emergency services and public safety networks |
| restraints | health and public concerns |
Antenna and transceiver component segments teeth is expected to dominate in terms of revenue during the forecast period
Based on components, the antenna and transceiver components segment accounted for nearly one-fourth of the total revenue of the global 5G mmWave technology market in 2022, playing a key role and thus maintaining its dominant position throughout the forecast period. is expected to be maintained. It enables high-speed, high-frequency communications, which is essential for the efficient performance of 5G networks. However, the Telecommunications and Networking Components sector is expected to experience the fastest CAGR of 17.31% from 2023 to 2032. This is mainly due to the rapid increase in data traffic and the increasing demand for advanced communication infrastructure to support the deployment of IoT and smart devices.
The communication equipment segment is Retention Largest share by 2032
On a product basis, the communications equipment segment emerged as the market leader in the global 5G mmWave technology market in 2022, holding more than one-third of the market share. At the same time, the same segment is projected to achieve the fastest CAGR of 16.55% from 2023 to 2032. This advantage can be attributed to the increasing global demand for high-speed internet and the rapid expansion of 5G infrastructure.
The 24-57 GHz segment is is expected Gain an edge in terms of revenue during the forecast period
Based on frequency band, the 24-57 GHz segment emerged as the market leader in the global 5G mmWave technology market in 2022, holding nearly three-fifths of the market share. At the same time, the same segment is projected to achieve the fastest CAGR of 15.36% from 2023 to 2032. This advantage is due to the optimal balance of coverage, capacity and speed, making it highly suitable for urban 5G deployments and various commercial applications.
The Mobile and Telecommunications segment is forecast as follows: Retention Largest share by 2032
Based on applications, the mobile and communications segment will emerge as the market leader in the global 5G mmWave technology market in 2022, holding more than one-third of the market share. At the same time, the same segment is projected to achieve the fastest CAGR of 16.27% from 2023 to 2032. This advantage can be attributed to the growing global demand for faster data speeds and increased network capacity, driven by the penetration and continued growth of smartphones. of mobile data traffic.
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North America will gain major market share in 2022
Regionally, North America dominated the 5G mmWave technology market revenue in 2022, accounting for more than a quarter of the global market share. This is mainly due to his early adoption of 5G technology in the region, significant investments in 5G infrastructure, and the presence of leading technology companies driving innovation in this area. The Asia-Pacific segment will witness the fastest CAGR of 17.07% from 2023 to 2032 due to rapid technological advancements, increased investment in 5G infrastructure, and increased adoption of 5G-enabled devices in densely populated countries such as China and India. expected to experience.
Key market players:
- Huawei Technologies Co., Ltd.
- Samsung Electronics Co., Ltd.
- Telefonactivo Larget LM Ericsson
- Nokia Corporation
- Qualcomm Inc.
- Mediatech Co., Ltd.
- Keysight Technologies Corporation
- NXP Semiconductors NV
- Skyworks Solutions Co., Ltd.
- Anritsu Corporation
This report provides a detailed analysis of these key players in the global 5G mmWave technology market. These companies are adopting product launch and collaboration strategies to increase their market penetration and strengthen their position in the industry. This report helps in determining the performance, business segments, developments, and product portfolio of any market player.
Key industry developments:
From July 2021 Ericsson and MediaTek set a mmWave uplink speed record using carrier aggregation, achieving nearly 500 Mbps, doubling current upload speeds and making it the fastest ever.
From April 2020 Samsung has achieved a significant milestone in 5G mmWave technology by demonstrating speeds of 8.5 Gbps on multiple devices, demonstrating the potential of innovative 5G mobile services.
Key benefits for stakeholders
- To pinpoint future investment pockets, this study provides analytical estimates of 5G mmWave technology market size along with current trends and estimates.
- To help achieve a more prominent position, the analysis of the overall 5G Millimeter Wave Technology market is based on an understanding of prevailing profitability trends.
- This report presents information on key drivers, restraints, and market opportunities for 5G mmWave technology along with detailed impact analysis.
- To measure financial capability, the 5G mmWave technology market forecast from 2022 to 2032 should be quantitatively analyzed.
- Porter’s Five Forces analysis shows that buyers and suppliers are more powerful in the 5G mmWave technology market.
- The report includes the shares of key vendors and trends in the 5G mmWave technology market.
5g milliwave Key segments of the technology market:
By component:
- Related to frequency sources
- Communication and network components
- imaging components
- sensors and controls
- interface component
- antenna and transceiver components
- others
By product:
- scan system
- Radar and satellite communication systems
- communication equipment
- other
By frequency band:
- 24~57GHz
- 57~95GHz
- 95~300GHz
By application:
- Mobile and communication
- consumer and commercial
- health care
- industrial
- Automotive and transportation
- imaging
By region:
- North America (USA, Canada, Mexico)
- Europe (Germany, UK, France, Spain, Italy, and other European countries)
- Asia Pacific (China, Japan, India, South Korea, Australia, and other Asia-Pacific regions)
- Ramea (Brazil, Saudi Arabia, UAE, South Africa, other LAMEA)
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