Dublin, Jan. 30, 2025 (GLOBE NEWSWIRE) — The “mmWave 5G – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for mmWave 5G was valued at US$3.2 Billion in 2024 and is projected to reach US$7.0 Billion by 2030, growing at a CAGR of 14.1% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The adoption of mmWave 5G technology is revolutionizing global connectivity by delivering ultra-high-speed data transmission, lower latency, and greater network capacity. These attributes make it indispensable for next-generation applications such as autonomous vehicles, immersive virtual reality (VR), and the burgeoning Internet of Things (IoT) ecosystem. Governments worldwide are allocating high-frequency spectrum bands to enable mmWave deployment, spurring innovation across industries. Additionally, the demand for advanced mobile broadband experiences has led telecom operators to invest heavily in mmWave infrastructure, fostering its widespread adoption.
From entertainment to healthcare, mmWave 5G is solving latency issues, enabling real-time data exchange in critical applications. For instance, in industrial automation, it allows seamless communication between machines, boosting efficiency and reducing downtime. Meanwhile, cloud gaming and AR/VR technologies are benefiting from the unprecedented speed and responsiveness mmWave 5G offers, redefining user experiences.
What Are the Growth Drivers Behind mmWave 5G Market Expansion?
The growth in the mmWave 5G market is driven by several factors, including technological advancements and evolving end-use applications. The growing adoption of smart cities and IoT devices is one of the primary drivers, as these require high-bandwidth and low-latency connections. Telecom providers are increasingly rolling out mmWave 5G networks to cater to enterprise clients, particularly in sectors like healthcare, automotive, and industrial automation. The deployment of mmWave technology in urban areas to address connectivity challenges in densely populated zones is another significant factor contributing to market growth.
Consumer demand for superior user experiences, coupled with an increasing reliance on real-time data applications, has further propelled the market. The expansion of 5G-enabled devices and advancements in antenna technology have made mmWave 5G deployment more feasible and cost-effective. Lastly, supportive government initiatives, including spectrum allocation and subsidies for network expansion, have provided a strong foundation for the sustained growth of the mmWave 5G market.
How Will mmWave 5G Transform Industries?
The transformative potential of mmWave 5G spans various industries, driving new use cases and efficiencies. In the healthcare sector, it enables advancements like remote surgeries and telemedicine, ensuring high-quality medical care reaches remote locations. Similarly, the automotive industry is leveraging mmWave 5G for vehicle-to-everything (V2X) communication, ensuring safer and more efficient traffic systems. Smart cities are another significant beneficiary, as mmWave technology facilitates real-time surveillance, smart grid systems, and enhanced urban planning capabilities.
In the realm of entertainment and media, mmWave 5G is unlocking new possibilities for 8K video streaming, interactive live events, and enhanced user-generated content. Education has also seen substantial benefits, with virtual classrooms and remote learning becoming more interactive and accessible. The flexibility and scalability of mmWave 5G make it a vital enabler for the digital transformation of industries on a global scale.
Why Is Consumer Behavior Driving mmWave 5G Growth?
Consumers’ insatiable demand for high-speed internet and immersive experiences has been a pivotal driver for mmWave 5G adoption. With the proliferation of smart devices, users now expect seamless connectivity, even in dense urban environments or during large-scale events. This expectation has pushed telecom operators to prioritize mmWave technology for its ability to manage heavy data traffic efficiently.
The rise in subscription-based services like cloud gaming and on-demand content streaming has also accelerated the demand for mmWave 5G. Furthermore, enterprise clients are seeking private 5G networks powered by mmWave for secure and reliable communication, addressing the needs of industries like manufacturing and logistics. As consumer behaviors evolve, mmWave 5G is poised to remain at the forefront of addressing their connectivity demands.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Airspan Networks, Inc., ALCAN Systems GmbH, Analog Devices, Inc., Corning, Inc., Jma Wireless and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the mmWave 5G Hardware segment, which is expected to reach US$2.9 Billion by 2030 with a CAGR of a 11.9%. The mmWave 5G Services segment is also set to grow at 17.0% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, valued at $869.3 Million in 2024, and China, forecasted to grow at an impressive 18.4% CAGR to reach $1.5 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Segments:
- Component (mmWave 5G Hardware, mmWave 5G Services, mmWave 5G Solutions)
- Application (Industry 4.0 Application, Augmented Reality (AR) / Virtual Reality (VR) Application, Real-Time Surveillance Cameras Application, Live Streaming Application, Transport Connectivity Application, Other Applications)
- End-Use (Telecom End-Use, Aerospace & Defense End-Use, Media & Entertainment End-Use, Public Safety End-Use, Automotive & Transportation End-Use, Other End-Uses)
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 266 |
| Forecast Period | 2024 – 2030 |
| Estimated Market Value (USD) in 2024 | $3.2 Billion |
| Forecasted Market Value (USD) by 2030 | $7 Billion |
| Compound Annual Growth Rate | 14.1% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Economic Frontiers: Trends, Trials & Transformations
- mmWave 5G – Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Proliferation of mmWave 5G Networks in Densely Populated Urban Areas Propels Market Growth
- Rising Adoption of mmWave Technology in Autonomous Vehicles Drives Demand
- Growth in Demand for Enhanced Mobile Broadband Services Fuels Market Expansion
- Expansion of Smart Cities Accelerates Deployment of mmWave Technology
- Increasing Use of mmWave 5G in Industrial IoT Applications Propels Adoption
- Advancements in Beamforming and Antenna Technologies Enhance Market Potential
- Rising Demand for Fixed Wireless Access Solutions Boosts Market Growth
- mmWave 5G Drives Growth in Real-Time Augmented and Virtual Reality Applications
- Increasing Investments in mmWave Spectrum Auctions by Telecom Providers Expands Market Opportunities
- Surge in Deployment of mmWave 5G for High-Resolution Video Streaming and Gaming Spurs Growth
- mmWave’s Role in Supporting Low-Latency Applications for Industry 4.0 Drives Demand
- Expanding Opportunities for mmWave 5G in Telemedicine and Remote Healthcare Solutions Propel Market Expansion
FOCUS ON SELECT PLAYERS:Some of the 22 companies featured in this report include
- Airspan Networks, Inc.
- ALCAN Systems GmbH
- Analog Devices, Inc.
- Corning, Inc.
- Jma Wireless
- Keysight Technologies, Inc.
- Mavenir Systems, Inc.
- Millimeter Wave Products, Inc.
- Movandi Corporation
- Nokia Corporation
For more information about this report visit https://www.researchandmarkets.com/r/g13qom
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