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on September 26, 2023
Global Millimeter Wave Fifth Generation Market Forecast to 2032
The Millimeter Wave Fifth Generation Market Study was developed as a result of extensive primary and secondary research, qualitative analysis, and quantitative analysis of significant market segments. Business experts have also acknowledged and verified the clever information. The report's objective is to provide more details on the general market environment for Millimeter Wave Fifth Generation.
The global Millimeter-Wave (MmWave) fifth generation (5G) market size is expected to reach USD 2.50 Billion in 2032 and register a steady revenue CAGR of 14.7% during the forecast period, according to the latest analysis by Emergen Research. The increasing need for massive device connectivity and low latency is a major factor driving market revenue growth. The utilization of 5G mmWave technology in real-time services, particularly cloud activities, compensates for the limitations of other wireless technologies. The data transmission and reception capacity of 5G mmWave surpasses that of current wireless networks. Latency, which was around 200 ms in 4G networks, can be as low as 1 ms in 5G systems. This enables companies seeking to implement emerging and innovative applications to benefit from faster speeds and reduced delays compared to previous wireless networking technologies. Low latency plays a crucial role in the realm of autonomous vehicles and intelligent transportation systems. In addition, quick and reliable communication between vehicles, enabling efficient coordination, real-time updates on road conditions, and enhanced safety measures, is another major factor driving revenue growth in the market.
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The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Millimeter Wave Fifth Generation market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Companies Profiled in the Report are:
NXP Semiconductors, Airspan Networks, AT&T Intellectual Property, Fastweb, SoftBank Corp, Corning Incorporated, Nokia, Mavenir, NTT Limited, and Advanced Micro Devices, Inc
Research Report on the Millimeter Wave Fifth Generation Market Addresses the Following Key Questions:
Who are the dominant players of the Millimeter Wave Fifth Generation market?
Which regional market is anticipated to have a high growth rate over the projected period?
What consumer trends and demands are expected to influence the operations of the market players in the Millimeter Wave Fifth Generation market?
What are the key growth drivers and restraining factors of the Millimeter Wave Fifth Generation market?
What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
What is the overall impact of the COVID-19 pandemic on the Millimeter Wave Fifth Generation market and its key segments?
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Some Key Highlights From the Report
On 10 November 2022, Qualcomm Technologies, Inc. announced that it has achieved breakthrough 5G standalone (SA) mmWave performance, paving the way for larger commercial mmWave deployments. As the global Internet user base increases, 5G SA mmWave enables more sectors and users to access unmatched experiences and capabilities. Devices powered by the Qualcomm Snapdragon X65 5G Modem-RF System were linked to network infrastructure equipment provided by industry giants ZTE, Nokia Shanghai Bell, and CICT Mobile. The companies achieved a download peak throughput of over 7.1 Gbps using the DDDSU frame structure and an upload peak rate of over 2.1 Gbps using the DSUUU frame structure, with a latency of 3.6 ms. All the tests were completed under the guidance of China Academy of Information and Communications Technology (CAICT) and China’s IMT-2020 (5G) Promotion Group.
The Enhanced Mobile Broadband (eMBB) segment is expected to account for largest revenue share in the global mmWave 5G market over the forecast period. This is because eMBB offers increased bandwidth and improved latency to support application such Augmented Reality (AR), Virtual Reality (VR), and 4K media. Enhanced mobile broadband, often associated with mmWave 5G, builds upon the foundation of 4G LTE networks. It is among the three primary use cases specified by 3GPP for the deployment of 5G NR applications. In addition, 5G NR ensures the delivery of fast and reliable mobile broadband services, by leveraging the capabilities of eMBB, which is driving revenue growth of this segment.
The AR/VR is expected to register steadily fast revenue growth rate in the global mmWave 5G market over the forecast period. This is because users can enjoy an enhanced AR and VR experience with improved performance and fluidity. A seamless VR experience relies on efficient data transmission between a headset and computer system. In addition, data needs to travel quickly and avoid congestion to achieve a high-quality AR and VR experience. mmWave 5G, with its large bandwidth and low latency, facilitates smooth loading of AR and VR pictures, videos, and animations, eliminating any jitters or disruptions that could hinder the overall experience.
The North America market is expected to account for largest revenue share in the global mmWave 5G market during the forecast period. This is attributed to increasing activities by key market players in countries in this region to develop technologically advanced mmWave 5G solutions. For instance, on 2 February 2023, Verizon is testing and investing in startup Radio Access Network (RAN) equipment provider Verana Networks as a part of its ambitions to address problematic mmWave-based 5G installations. Verana's Integrated Access and Backhaul platform includes a mmWave antenna that can provide end-user access like a typical small-cell site as well as operate as a part of wireless mesh backhaul service. This enables this device to eliminate the requirement for separate wired backhaul connections to each mmWave antenna.
Market Segmentations of the Millimeter Wave Fifth Generation Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2022 and 2032. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Millimeter Wave Fifth Generation market on the basis of product, application, and region:
Segments Covered in this report are:
Component Outlook (Revenue, USD Billion; 2019–2032)
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
Use Case Outlook (Revenue, USD Billion; 2019–2032)
Enhanced Mobile Broadband (eMBB)
Fixed Wireless Access (FWA)
Ultra-Reliable Low-Latency Communications (URLLC)
Smart Homes
Industrial Internet of Things (IIoT)
Intelligent Transportation Systems (ITS)
Remote Surveillance and Security
Massive Machine-Type Communications (mMTC)
License Type Outlook (Revenue, USD Billion; 2019–2032)
Light-licensed frequency millimeter wave
Unlicensed frequency millimeter wave
Fully licensed frequency millimeter wave
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Regional Landscape section of the Millimeter Wave Fifth Generation report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key reasons to buy the Global Millimeter Wave Fifth Generation Market report:
The latest report comprehensively studies the global Millimeter Wave Fifth Generation market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
The report offers an insightful analysis of the regional outlook of the market.
It offers a detailed account of the end-use applications of the products services offered by this industry.
The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
In conclusion, the Millimeter Wave Fifth Generation Market report is an exhaustive database that will help readers formulate lucrative strategies. The Millimeter Wave Fifth Generation Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.
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