Dublin, Jan. 04, 2024 (GLOBE NEWSWIRE) -- The "mmWave 5G Market Report: Trends, Forecast and Competitive Analysis to 2030" report has been added to ResearchAndMarkets.com's offering.
Significant growth is anticipated in the global mmWave 5G market as it is expected to reach an estimated $6.4 billion by 2030. The market, with a compound annual growth rate (CAGR) of 13.8% from 2024 to 2030, is poised to experience robust expansion due to increasing demand for high-speed data, widespread embrace of 5G technology by both businesses and consumers, and robust government advocacy for advanced 5G infrastructures.
The comprehensive analysis of the mmWave 5G market encompasses various segments, including components, use cases, applications, and end-use industries. This research highlights the burgeoning segments and critical areas that are expected to witness accelerated growth during the forecast period.
Key Insights into the mmWave 5G Industry
Forecasts indicate that AR/VR applications are set to experience the highest growth owing to their escalating adoption across diverse sectors such as healthcare, gaming, education, and architectural visualization. Moreover, the telecom sector is projected to maintain its dominance due to the intensifying demand for high-speed mobile internet and the escalating commercial need for advanced connectivity solutions.
Region-wise, North America is poised to continue leading the market, with notable contributions from the United States, thanks to early adoption of technological advancements and the presence of pivotal telecommunications companies fueling the regional market dominance.
Competitive Landscape and Market Segments
The landscape of the mmWave 5G market is competitive and features prominent industry players including technology giants and communication behemoths. Innovation, strategic expansions, and R&D investments are among the proactive strategies adopted by these companies to cater to the burgeoning demand, fine-tune product offerings, and cement their market position.
- mmWave 5G Market by Component: Hardware, Software, Services
- Use Cases: Enhanced Mobile Broadband (eMBB), Fixed Wireless Access (FWA), Massive Machine Type Communications (mMTC), Ultra-Reliable Low Latency Communications (URLLC)
- Applications: Spanning across real-time surveillance, AR/VR, Industry 4.0, live streaming, and transport connectivity
- End-Use Industries: Including aerospace & defense, telecom, media & entertainment, automotive & transportation, public safety, and healthcare & life sciences
Strategic Analysis and Growth Opportunities: The research provides an in-depth analysis of the competitive intensity of the market with insights based on Porter’s Five Forces model. Potential growth opportunities in varying components, use cases, applications, and end-use sectors have been identified to enable stakeholders to formulate strategic plans to capitalize on emerging market trends.
Emerging Trends and Regional Analysis: Identifying major industry shifts and customer demands, the study offers a granular analysis of the new market developments and emerging trends. It further dissects the regional dynamics, providing a detailed assessment of growth prospects across North America, Europe, Asia Pacific, and the Rest of the World.
The publication of this comprehensive mmWave 5G market study offers valuable insights for businesses, stakeholders, and strategic planners focusing on leveraging the opportunities within this rapidly evolving technological landscape.
For more information about this report visit https://www.researchandmarkets.com/r/ksgbn3
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