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Massive MIMO Market Size, Growth And Research Report 2033
Massive MIMO Market Size
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According to The Business Research Company's, 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).
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Market Drivers and Trends:
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.
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.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Samsung Electronics Co Ltd., China Mobile Ltd., Verizon Communications Inc., Deutsche Telekom AG, AT&T, Huawei Technologies Co Ltd., T-Mobile, Intel Corporation, China Unicom Ltd., Qualcomm Technologies Inc., Sprint Corporation, Fujitsu Limited, Fujitsu Limited, NEC Corporation, Ericsson AB, Nokia Corporation, ZTE Corporation, Bharti Airtel Limited, Analog Devices, CommScope Inc., Mavenir Systems Inc., Comba Telecom, Airspan Networks Inc., Mimosa Networks Inc., Redline Communications Group Inc., Blue Danube Systems, Siklu Communication Ltd.
Massive MIMO Market 2024 Key Insights:
• 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%.
• Massive Mimo Market Surges With Increasing Demand For High-Speed And Reliable Mobile Communication
• Advanced Products In The Massive Mimo Market
• Asia-Pacific was the largest region in the massive MIMO market in 2023
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