The mmwave 5G market size is expected to grow from USD 2.5 billion in 2022 to USD 4.9 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 14.7% during the forecast period. To deliver added capacity and high throughput in 5G networks there is increasing adoption of mmWave spectrum and it is driving the growth of the mmwave 5G market.
The major vendors covered in the mmwave 5G market include NXP Semiconductors (Netherlands), Airspan Networks (US), AT&T (US), Fastweb (Italy), SoftBank (Japan), Corning (US), Nokia (Finland), Mavenir (US), NTT DOCOMO (Japan), AMD (California), Huawei (China), Qualcomm (US), Ericsson (Sweden), Verizon Communications Inc. (US), Rakuten Mobile (Japan), Singtel (Singapore), Samsung (South Korea), Fujitsu (Japan), Renesas Electronics Corporation (Japan), Keysight Technologies (US), Movandi (US), JMA Wireless (US), Sivers Semiconductors (Sweden), ALCAN systems (Germany), Verana Networks (US), Pivotal Commware (US), and Pharrowtech (Belgium). These players have adopted various growth strategies, such as partnerships, business expansions, agreements, and collaborations, new product launches to expand their presence in the mmwave 5G market.
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Huawei is a leading provider of smart devices and ICT infrastructure. The privately owned company operates through four segments: consumer business, carrier business, enterprise business, and others. The carrier segment includes solutions related to a wireless network, cloud core network, fixed network, IT infrastructure carrier software, and professional services. The enterprise segment covers digital infrastructure platforms built by using new ICT technologies. Smartphones, tablets, wearable devices, and converged home devices are included in the consumer segment. The company launched 5G End-to-End Product Solutions that are completely based on 3GPP standards, with a full range, full scenario, and all-cloud being the defining characteristics. In December 2021, Huawei completed the low-latency, high-reliability technical laboratory test with ultra-low latency of 1ms. URLLC, one of the three basic capabilities of 5G, is a communication technology with ultra-low latency and ultra-high reliability. This technology can meet some services that are sensitive to latency and have high-reliability requirements. It can be widely used in AR/VR, industrial, medical, unmanned driving, and other cases.
Verizon is a holding company that, working through its subsidiaries, is one of the world’s leading providers of communications, technology, information, and entertainment products and services to consumers, businesses, and government entities. The company offers data, video, and voice services and solutions on its networks and platforms that are designed to meet customers' demands for mobility, reliable network connectivity, security, and control. The company has reportable segments that they operate and manage as strategic business units, that is, Verizon Consumer Group (Consumer) and Verizon Business Group (Business). The consumer segment offers consumer-focused wireless and wireline communications services and products. The company’s wireless services are provided across one of the most extensive wireless networks in the US under the Verizon brand and through wholesale and other arrangements. And the business segment provides wireless and wireline communications services and products, including data, video and conferencing services, corporate networking solutions, security and managed network services, local and long-distance voice services, and network access to deliver various IoT services and products. The company offers Verizon 5G Ultra-Wideband solution that provides benefits, such as speed up to 10 times faster than median 4G LTE speeds, a better option for public Wi-Fi.
mmWave 5G Market by Component (Hardware, Solutions, Services), Use Case (eMBB, mMTC, URLLC, FWA), Application, Bandwidth, End User (Aerospace and Defense, Telecom, Automotive and Transportation, Public Safety) and Region - Global Forecast to 2027
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