Multiple Input Multiple Output (MIMO) Market Worldwide Opportunities, Driving Forces, Future Potential 2023 - 2030
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| Multiple Input Multiple Output (MIMO) Market |
Computing Systems Segment:
The global Multiple Input Multiple Output (MIMO) Market is estimated to be valued at US$ 10.93 Bn in 2023 and is expected to exhibit a CAGR of 10.5% over the forecast period 2023 - 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Multiple Input Multiple Output (MIMO) uses multiple antennas at both the source (transmitter) and destination (receiver) to improve communication performance. MIMO exploits multipath propagation to increase channel capacity and link reliability or extend transmission range in wireless communication. The use of MIMO helps to improve data speed and network coverage without requiring additional bandwidth or transmit power.
Market key trends:
The increased adoption of 5G technology across various industries has boosted the demand for advanced wireless communication technologies such as MIMO. 5G networks require MIMO technology to achieve the high data rates promised by 5G. The transition from 4G to 5G networks involves upgrading base stations and cell sites with 5G-compatible MIMO antennas. This is expected to be a major growth driver for the MIMO market over the forecast period. Growing deployment of advanced driver-assistance systems (ADAS) and autonomous vehicles also augments the need for robust vehicle-to-everything (V2X) communication. The integration of MIMO in V2X communication systems enhances reliability, coverage, and speed of wireless connectivity in automotive applications.
Segment Analysis
The global MIMO market can be segmented into MIMO technology and end-use industry. Based on technology, the MIMO market is segmented into LTE Advanced, LTE Advanced Pro, 5G and others. The LTE Advanced segment currently dominates the market as it provides higher data rates and capacity compared to previous cellular technologies. However, the 5G segment is expected to witness the highest growth during the forecast period owing to the increasing adoption of 5G technology across various industries for enabling technologies such as IoT, autonomous vehicles, telemedicine and AR/VR.
Key Takeaways
The global Multiple Input Multiple Output (MIMO) Market Size was valued at US$ 10.93 Bn in 2023. It is expected to reach US$ 21.32 Bn by 2030, exhibiting a CAGR of 10.5% during the forecast period owing to the rising demand for high-speed internet connectivity with improved coverage and capacity.
Regional analysis: North America dominated the global MIMO market in 2023 and is expected to continue its dominance during the forecast period. This is attributed to the presence of major MIMO solution providers and early adoption of advanced wireless technologies in the region. Asia Pacific is expected to witness the highest growth during the forecast period due to rapid industrialization, increasing investments in telecommunications infrastructure and growing adoption of IoT and 5G technologies in countries such as China and India.
Key players: Key players operating in the MIMO market include Qualcomm, Huawei, Intel, Samsung, Nokia, Ericsson, ZTE, NEC, Aviat Networks, Ceragon Networks, DragonWave, Comba Telecom, CommScope, Texas Instruments, NXP Semiconductors, Analog Devices, Broadcom, MediaTek, Murata Manufacturing, and Qorvo. The market is concentrated with the top players acquiring majority market share. However, growing investments in 5G infrastructure are expected to offer new opportunities for emerging players during the forecast period.
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