5G mm Wave Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F

The Global 5G mm wave market is anticipated to develop rapidly in the forecast period 2024-2028. Steady global 5G millimeter wave market revenue growth can be attributed to rapid technological advancements on 5G technology, recent advancements in edge computing systems, ongoing research and development activities, and rising adoption of 5G millimeter wave by the end users.

Innovative cellular technology known as 5G mm Wave allows users to access significant bandwidth and capacity found in the frequency range above 24GHz. The use of 5G millimeter waves, once dismissed by sceptics as being impossible, is now widespread in wireless ecosystems and is expected to continue to grow. In the United States, for instance, all major carriers provide full selection of the newest and best-selling 5G flagship millimeter-wave phones as well as 5G millimeter-wave services. Nearly half of the countries in the European Union and the United Kingdom have designated or intend to designate millimeter-wave spectra for 5G.

The global reach of 5G networks is increasing as mm Wave is a brand-new technology that helps to improve next-generation wireless communication.

Increased Demand for Better Consumer Experiences

Over the past two decades, the global population of mobile users and their data requirements have grown exponentially. There have been enormous advancements in mobile technologies during the same time. As more people and devices join the network, service quality and efficiency suffer intensely. Mobile data traffic has rapidly increased, creating new opportunities for mobile service providers because of the development of wireless data applications and the popularity of smart devices. New use cases, including those for smart grids, autonomous vehicles, energy, smart manufacturing, logistics, public safety, and many other verticals, are anticipated to be made possible by 5G, which will also likely support continued economic growth. Information can now be exchanged between various electronic devices without direct human interaction, thanks to the development of loT.

Growing Adoption of IoT (Internet of Things) Driving 5G mm Wave Technology

IoT technology is the foundation of many businesses to undergo a digital transformation, enabling them to improve their current business processes by developing and implementing new business models. IoT has been regarded by businesses and service providers as an essential tool for accelerating digital transformation and releasing operational efficiencies. Positive market growth is being fueled by the expanding use of IoT technology across end-user industries like manufacturing, automotive, and healthcare. IoT is also powering subsequent industrial revolution of intelligent connectivity as the traditional manufacturing sector undergoes digital transformation. IoT and Industry 4.0, also known as smart factory automation, are at the core of new technological approaches for the creation, operation, and management of the entire logistics chain. With the widespread adoption of connected devices and sensors, along with the implementation of M2M communication, there has been an increase in the number of data points generated in the manufacturing industry. This aspect tends to drive the market of 5G mm Wave market.

High Deployment Cost

High pricing and cost are considered as one of the biggest hurdles in 5G mm Wave Market. service cost discourages the 5G mm Wave technologies and it require a high research and development cost to develop and deploy.

Market Segmentation

The Global 5G mm Wave Market is divided into Component, Bandwidth, Application and Industry. Based on Component, the market is divided into Hardware, Solutions and Services. By Bandwidth, the market is divided into Hardware, Solutions and Services. By Bandwidth, the market is divided into 24Ghz to 57Ghz, 57Ghz to 95Ghz, and 95Ghz to 300Ghz. By Application, the market is divided into Real time surveillance cameras, AR/VR, Industry 4.0, Live Streaming, Ultra-High-Definition Video, Transport connectivity, Others. By Industry, the market is divided into Aerospace and Defense, Telecom, Automotive and Transportation, Public safety, Healthcare and Life science, Media and Entertainment, and Others.

Market Players

NXP Semiconductors, Airspan Networks, American Telephone and Telegraph, SoftBank Corp., Corning Incorporated, Nokia Corporation, NTT Docomo, Huawei Technologies Co., Ltd., Qualcomm, Verizon Communications Inc, Rakuten Mobile, Samsung, Fujitsu, Renesas Electronics Corporation and many more.

Report Scope

In this report, the Global 5G mm Wave Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:

Global 5G mm Wave Market, by Component:

• Hardware
• Solutions
• Services

Global 5G mm Wave Market, by Bandwidth:

• 24Ghz to 57Ghz
• 57Ghz to 95Ghz
• 95Ghz to 300Ghz

Global 5G mm Wave Market, by Application:

• Real time surveillance cameras
• AR/VR
• Industry 4.0
• Live Streaming
• Ultra-High-Definition video
• Transport Connectivity
• Others

Global 5G mm Wave Market, by Industry:

• Aerospace and Defense
• Telecom
• Automotive and Transportation
• Public Safety
• Healthcare and Life science
• Media and Entertainment
• Others

Global 5G mm Wave Market, by Region:

• North America
• Asia-Pacific
• Europe
• South America
• Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global 5G mm Wave Market.

Available Customizations

The following customization options are available for the report:

• Detailed analysis and profiling of additional market players (up to ten).

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