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The Massive MIMO Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Massive MIMO Global Market Report 2024, The massive mimo market size has grown exponentially in recent years. It will grow from $6.41 billion in 2023 to $9.05 billion in 2024 at a compound annual growth rate (CAGR) of 41.2%. The growth in the historic period can be attributed to rise of 4g technology, demand for increased network capacity, spectrum availability, early market adoption, research and development initiatives.
The massive mimo market size is expected to see exponential growth in the next few years. It will grow to $35.47 billion in 2028 at a compound annual growth rate (CAGR) of 40.7%. The growth in the forecast period can be attributed to 5g rollout and expansion, iot and industry 4.0, network densification, demand for enhanced mobile broadband, network virtualization. Major trends in the forecast period include massive mimo in mmwave bands, beamforming advancements, network slicing for customization, energy efficiency improvements, open ran (radio access network).
The increasing demand for high-speed and reliable mobile communication is expected to propel the growth of the massive MIMO market going forward. High-speed and reliable mobile communication refers to a wireless network that offers reliable connectivity and rapid data transfer rates for smooth mobile communication. Massive MIMO is a cutting-edge technology used in mobile communication that is crucial for fulfilling the demands of faster data transfer rates, greater network capacity, and an improved user experience. For instance, in July 2023, according to the Organization for Economic Co-operation and Development, a France-based international organization, data usage per mobile broadband subscription in OECD countries grew 17% in 2022, and the volume of mobile data usage overall per subscription has doubled in four years, from 4.7 gigabytes per month to 10.4 GB in 2022. Therefore, the increasing demand for high-speed and reliable mobile communication is driving the growth of the massive MIMO market.
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The massive mimo market covered in this report is segmented –
1) By Technology: LTE Advanced, LTE Advanced Pro, 5G
2) By Type Of Antennas: 8T8R, 16T16R And 32T32R, 64T64R, 128T128R And Above
3) By Spectrum: Frequency Division Duplex (FDD), Time Division Duplexing (TDD), Other Spectrums
Product innovations are a key trend gaining popularity in the massive MIMO market. Major companies operating in the huge MIMO market are adopting innovative products to sustain their position in the market. For instance, in February 2023, Nokia, a Finland-based telecommunications company, launched Habrok, an AirScale large MIMO radio of the latest generation used in all mobile operators and business networks. The newest technologies are used in Habrok radios to deliver high radio frequency output power, and they offer expandable capacity for single and multi-carrier performance.
The massive mimo market report table of contents includes:
1. Executive Summary
2.Massive MIMO Market Characteristics
3. Massive MIMO Market Trends And Strategies
4. Massive MIMO Market analysis
5.Massive MIMO Market Size And Growth
6. Massive MIMO Segmentation
7. Massive MIMO Regional And Country Analysis
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27. Massive MIMO Competitive Landscape And Company Profiles
28.Massive MIMO Key Mergers And Acquisitions
29.Massive MIMO Future Outlook and Potential Analysis
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