USD 5.61 billion
Report ID:
SQMIG50C2023 |
Region:
Global |
Published Date: March, 2024
Pages:
177
|
Tables:
90 |
Figures:
76
Global Massive Mimo Market size was valued at USD 5.61 billion in 2022 and is poised to grow from USD 6.58 billion in 2023 to USD 23.55 billion by 2031, at a CAGR of 17.28% during the forecast period (2024-2031).
The future of the Massive MIMO (Multiple-Input, Multiple-Output) market is shaped by several key market factors that dominate its growth and development. Firstly, the increasing demand for high-speed data transmission and the exponential growth of data traffic are driving the adoption of Massive MIMO technology. As the number of connected devices continues to rise, Massive MIMO offers a viable solution to address the growing need for improved network capacity and spectral efficiency.
Secondly, the deployment of 5G networks is a major catalyst for the expansion of the Massive MIMO market. 5G technology requires advanced antenna systems like Massive MIMO to realize its full potential, enabling ultra-high data rates and low latency communication. Moreover, the rapid advancements in wireless communication technologies, such as beamforming and beam steering, are enhancing the performance and efficiency of Massive MIMO systems, further driving its adoption.
Additionally, the ongoing digital transformation across industries, including telecommunications, healthcare, and transportation, is creating significant opportunities for the deployment of Massive MIMO. Industries are increasingly relying on high-speed and reliable connectivity to support their operations, leading to a surge in demand for Massive MIMO systems. However, certain challenges need to be addressed for the widespread adoption of Massive MIMO, including the high installation costs and the need for optimal spectrum allocation.
Overcoming these challenges, coupled with continuous technological advancements and strategic collaborations among industry players, will be crucial to unlocking the full potential of the Massive MIMO market and ensuring its sustained growth in the future. Overall, the market outlook for Massive MIMO is highly promising, driven by the convergence of factors such as increasing data demand, 5G deployment, technological advancements, and industry digitization.
US Massive MIMO Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 5.61 billion
Largest Segment
16T16R & 32T32R
Fastest Growth
8T8R
Growth Rate
17.28% CAGR
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The global massive MIMO market can be segmented based on technology, type, application and region. Based on technology, the market can be segmented into LTE advanced, 5G. Based on type, the market can be segmented into 8T8R, 16T16R & 32T32R, 64T64R. Based on application, the market can be segmented into telecom & IT, BFSI, healthcare, transportation. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Massive Mimo Market Analysis By Technology
The largest market segment in the Massive MIMO market is the LTE Advanced segment. LTE Advanced (Long-Term Evolution Advanced) technology, also known as 4.5G, is an advanced version of the LTE standard that provides enhanced network performance and increased data speeds. LTE Advanced offers improved spectral efficiency and higher capacity compared to previous generations of wireless technology. Telecom operators and service providers have already invested heavily in LTE Advanced infrastructure, making it a prominent segment in the Massive MIMO market. LTE Advanced networks can seamlessly integrate with existing LTE infrastructure, allowing for a smooth transition and upgrade path for telecom operators.
On the other hand, the fastest-growing segment in the Massive MIMO market is 5G. With the deployment of 5G networks gaining momentum globally, the demand for Massive MIMO systems to support 5G infrastructure is rapidly increasing. 5G technology requires Massive MIMO antennas to enable beamforming and beam steering, which are crucial for achieving high data rates and low latency communication. The transition to 5G networks is expected to drive significant growth in the adoption of Massive MIMO technology, making it the fastest-growing segment in the market.
Massive Mimo Market Analysis By Type
The largest market segment in the Massive MIMO market is the 64T64R segment. 64T64R (64 Transmit, 64 Receive) refers to Massive MIMO systems with 64 antennas for both transmitting and receiving signals. This type of configuration offers high-capacity and robust performance, making it suitable for demanding applications that require extensive coverage and a large number of connected devices. The 64T64R segment is favored by telecom operators and network providers looking to deploy Massive MIMO solutions to enhance their network capacity and improve user experience.
On the other hand, the fastest-growing segment in the Massive MIMO market is the 16T16R & 32T32R segment. These configurations, with 16 or 32 antennas for both transmitting and receiving, respectively, offer a balance between capacity and cost-effectiveness. They provide significant improvements in network performance and coverage compared to traditional MIMO systems while being more affordable and easier to deploy than higher antenna counts configurations. The 16T16R & 32T32R segment is witnessing rapid growth due to its suitability for a wide range of applications and its ability to cater to the increasing demand for high-speed data transmission and enhanced network capacity.
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The largest market region in the Massive MIMO market is Asia Pacific. Asia Pacific has emerged as a dominant market for Massive MIMO due to the region's large population, rapid urbanization, and high mobile penetration. Countries such as China, Japan, South Korea, and India are key contributors to the growth of the Massive MIMO market in this region. These countries have witnessed significant investments in telecommunication infrastructure and are at the forefront of deploying 5G networks. The increasing demand for high-speed data transmission, coupled with the proliferation of smart devices and the rapid digital transformation across industries, has propelled the adoption of Massive MIMO technology in Asia Pacific.
On the other hand, the fastest-growing region in the Massive MIMO market is North America. North America has witnessed significant advancements in wireless communication technologies and is a pioneer in the deployment of 5G networks. The region has a highly developed telecommunications infrastructure, strong research and development capabilities, and a high adoption rate of new technologies. The demand for Massive MIMO in North America is driven by factors such as the increasing data traffic, rising demand for high-speed connectivity, and the need for improved network capacity. Additionally, the presence of major technology and telecommunication companies in North America, along with their focus on innovation and investments in next-generation communication technologies, further fuels the growth of the Massive MIMO market in the region.
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Massive Mimo Market Drivers
Increasing Demand For High-Speed Data Transmission
Massive Mimo Market Restraints
High Cost Associated With Mimo Systems
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The competitive landscape of the Massive MIMO market is characterized by intense competition among key market players. Companies in this market are focused on strategic initiatives such as mergers and acquisitions, partnerships, and collaborations to expand their product offerings and strengthen their market presence. Leading players in the market are investing heavily in research and development activities to enhance their technology capabilities and stay ahead of the competition. Additionally, there is a significant emphasis on product innovation to meet the evolving demands of customers and gain a competitive edge. The market is also witnessing the entry of new players, especially startups that specialize in wireless communication technologies.
Massive Mimo Market Top Player’s Company Profiles
Massive Mimo Market Recent Developments
In February 2024, Samsung Electronics reported the effective completion of Open RAN (O-RAN) testing for LTE and 5G NR radios for Verizon's network. This joint effort between Samsung and Verizon was meant to embrace transparency in telecommunications. Tests were led in Samsung's lab in Dallas, Texas, utilizing radios consistent with O-RAN details. Samsung's market-leading radios, including CAT-A and Massive MIMO C-Band radios, were assessed, featuring Samsung's mastery of enormous MIMO innovation. Verizon has previously conveyed Samsung's 64T64R Massive MIMO radios in its business vRAN networks from one side of the country to the other, exhibiting Samsung's authority in this field.
In January 2024, etisalat by e&, the telecom division of e& group, kept up with its situation as the most grounded brand in the Center East and Africa, and worldwide as the most grounded telecom brand, with a Brand Strength File score of 89.4. This achievement is credited to its relationship with the bigger innovation bunch, e&. The e& brand has ventured into new areas through its Partner Market program and made huge acquisitions and speculations, including Careem, Vodafone, El Grocer, and StarzPlay. These moves plan to offer upgraded administrations to clients and convey money back to financial backers.
In November 2023, Telkomsel, in association with ZTE Corporation, sent off MarineMobile, a mobile communications solution intended to help anglers with their tasks. This arrangement offers elements like weather conditions estimates, recognizing ideal fishing areas, GPS following, and real-time access to fish purchasers on the lookout. The presentation of MarineMobile expands upon the cooperative endeavors reported at the Mobile World Congress (MWC) 2023 in Barcelona on February 27, where the two organizations zeroed in on improving 5G organizational capacities utilizing the 2.3 GHz recurrence band. This drive intends to grow broadband administrative inclusion for maritime areas.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analyses, the massive MIMO (Multiple-Input, Multiple-Output) market is poised for significant growth in the coming years, driven by the increasing demand for high-speed data transmission, the deployment of 5G networks, and the rapid advancements in wireless communication technologies. With the exponential growth of data traffic and the rise in the number of connected devices, Massive MIMO offers a viable solution to address the growing need for improved network capacity and spectral efficiency. The largest market segment in the Massive MIMO market is the telecom & IT sector, as telecommunication and information technology companies are at the forefront of adopting Massive MIMO technology. The fastest-growing segment by technology is 5G, with the deployment of 5G networks fueling the demand for Massive MIMO systems to achieve ultra-high data rates and low latency communication. In terms of regions, Asia Pacific holds the largest market share in the Massive MIMO market, driven by its large population, rapid urbanization, and high mobile penetration. North America is the fastest-growing region, with its advanced telecommunications infrastructure and early adoption of 5G. Looking ahead, the Massive MIMO market holds immense future scope as industries continue to digitize, IoT connectivity expands, and technologies like edge computing and artificial intelligence integrate with Massive MIMO to optimize network performance and deliver enhanced user experiences.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 5.61 billion |
Market size value in 2031 | USD 23.55 billion |
Growth Rate | 17.28% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Massive MIMO Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Massive MIMO Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product ID: SQMIG50C2023