New York, April 26, 2023 (GLOBE NEWSWIRE) -- The global Massive MIMO Market revenues totalled US$ 3.3 billion in 2022. Overall demand in the market is forecast to increase at 27.4% from 2022 to 2032, according to a recently published Persistence Market Research report. By 2033, the massive MIMO industry is expected to reach a valuation of US$ 37.5 billion.
LTE advance pro technology segment will continue to dominate the global market through 2032. The target segment is forecast to register a CAGR of 27.2% from 2022 to 2032.
Rising adoption of massive MIMO in 5G and IoT around the world is projected to expand the massive MIMO market.
A wireless communication technology that communicates with multiple users simultaneously by using several antennas at the base station is known as massive MIMO (Multiple Input Multiple Output).
Adoption of massive MIMO technology improves the wireless network's efficiency, capacity, and interference, resulting in faster data speeds and better coverage. Massive MIMO is becoming a crucial technology in modern cellular networks, particularly in the development of 5G networks.
Massive MIMO technology also finds application in other wireless communication systems such as Wi-Fi and fixed wireless broadband.
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Growing demand for faster and more reliable wireless connections will boost the global massive MIMO industry. This is because massive MIMO technology, which improves network capacity and performance, is well suited to meet this demand.
5G networks make extensive use of massive MIMO because the technology is well-suited to meet the demands of 5G networks. This technology can help improve network efficiency, capacity, and coverage, making it an important component of 5G network infrastructure.
Key Takeaways from the Massive MIMO Market Report:
- The global massive MIMO industry is forecasted to reach a massive valuation of US$ 37.5 billion in 2032.
- Based on technology, LTE advance pro segment is likely to progress at 27.2% CAGR through 2032.
- By antenna array type, 64t64r category will exhibit a CAGR of around 27.0% through 2033.
- The United States massive MIMO industry is projected to cross a valuation of around US$ 5.1 billion by 2032.
- Registering a CAGR of 29.1%, China massive MIMO industry value is expected to reach US$ 10.1 billion by 2032.
- Massive MIMO demand in South Korea is forecast to rise at 27.9% CAGR over the projection period.
- Japan market will total a valuation of US$ 6.8 billion by 2032.
“Rising adoption of 5G internet and connected devices globally will elevate demand for massive MIMO through 2032. Manufacturers in the market would find substantial growth opportunity in developing MIMO systems that offer high compatibility with different connection types, in the face of evolving user preferences.” - says a Persistence Market Research (PMR) analyst.
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Who is Winning?
Telefonaktiebolaget L M Ericsson, Airtel, Nokia Corporation, Huawei Technologies Co., Ltd., ZTE Corporation, Samsung Corporation, Verizon, and T-Mobile are few of the key players operating in the massive MIMO industry.
These market players are investing heavily in research and development to introduce novel technologies and products. They are also forming alliances and partnerships as well as adopting merger & acquisitions strategy to expand their footprint.
For instance,
- In September 2021, NEC Corporation and Xilinx, Inc. collaborated on NEC’s next generation 5G radio units. New RUs will support a wide variety 5G frequencies.
More Insights Available:
Persistence Market Research (PMR), in its new offering, presents an unbiased analysis of the massive MIMO market presenting historical data (2017 to 2021) and forecast statistics for the period from 2022 to 2032.
The study reveals future market projections based on technology (LTE advance, LTE advance pro, and 5G), spectrum (TDD and FDD), and antenna array type (16T16R, 32T32R, 64T64R) across various regions.
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