The global Multiple Input Multiple Output (MIMO) Market enables the transmission and reception of multiple data signals simultaneously through multiple antennas at both the transmitter and receiver. The technology has gained significant importance for increasing throughput in wireless systems without requiring additional bandwidth or transmission power.
The global MIMO market is estimated to be valued at US$ 10.93 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand for high-speed mobile data services has accelerated the adoption of MIMO technology. MIMO systems help network operators meet this demand by multiplying spectral efficiency, allowing more bits of information to be transmitted per second within the fixed license band. According to recent estimates, 5G networks are expected to require exponentially higher data capacity to support new immersive applications like virtual reality and autonomous driving. MIMO technology plays a vital role in this regard by helping network operators manage explosive data traffic growth in a spectrum-efficient manner. This emerging need for high-speed connectivity is expected to be the primary driver propelling the MIMO market forward over the forecast period.
Segment Analysis
The global MIMO market is dominated by the wireless networking sub-segment. The growing adoption of 5G technology and increasing demand for high-speed networking are boosting the growth of the wireless networking sub-segment. The deployment of 5G requires advanced beamforming and massive MIMO techniques to support higher bandwidth requirements. This is resulting in the increased demand for MIMO technology in wireless networking.
Key Takeaways
The Global Multiple Input Multiple Output (MIMO) Market Size is expected to witness high growth over the forecast period driven by the increasing demand for high-speed data services and deployment of 5G networks worldwide.
Regional analysis
Asia Pacific is currently the largest and fastest growing region in the global MIMO market. The major countries contributing to the growth of the APAC MIMO market include China, Japan, and South Korea. The early and rapid adoption of 5G technology in these countries is supporting the growth of the MIMO market in the region. Additionally, the presence of leading wireless infrastructure vendors and smartphone manufacturers is further propelling the demand for MIMO technology in Asia Pacific.
Key players
Key players operating in the MIMO market are Qualcomm, Huawei, Intel, Samsung, Nokia, Ericsson, ZTE, NEC, Aviat Networks, Ceragon Networks, DragonWave, CommScope, Texas Instruments, NXP Semiconductors, Analog Devices, Broadcom, MediaTek, Murata Manufacturing, and Qorvo.
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