mmWave 5G Equipment Decade Long Trends, Analysis and Forecast 2025-2033

Key Insights

The mmWave 5G equipment market is experiencing robust growth, driven by the increasing demand for high-bandwidth applications and the expansion of 5G networks globally. The market, estimated at $10 billion in 2025, is projected to exhibit a Compound Annual Growth Rate (CAGR) of 25% from 2025 to 2033, reaching approximately $50 billion by 2033. This growth is fueled by several key factors: the proliferation of 5G-enabled devices requiring high-speed data transfer, the deployment of private 5G networks in various sectors including automotive, aerospace, and public safety, and continuous advancements in mmWave technology leading to improved efficiency and cost reduction. The strong presence of established players like Qualcomm, Ericsson, and Nokia, alongside emerging innovators, fosters intense competition and drives innovation within the ecosystem. However, challenges such as high deployment costs, limited mmWave penetration compared to sub-6 GHz, and regulatory hurdles in certain regions may pose some constraints to market expansion. Nevertheless, the long-term outlook remains positive, particularly with the continued focus on fixed wireless access solutions and the growing adoption of mmWave for enhanced mobile broadband.

The segmentation of the market reveals a dynamic interplay of solutions, services, and applications. The solution segment, including hardware components like antennas and base stations, is expected to dominate, while services encompassing network planning, deployment, and maintenance, will experience significant growth. Geographically, North America and Asia Pacific are expected to dominate the market share, driven by early 5G adoption and robust technological infrastructure. Within applications, the automotive sector, utilizing mmWave for advanced driver-assistance systems (ADAS) and vehicle-to-everything (V2X) communication, will be a primary growth driver. Similarly, the telecommunications sector’s continuous expansion of 5G networks, coupled with the aerospace sector's integration of mmWave for in-flight connectivity, will significantly contribute to market expansion. The ongoing research and development of mmWave technology will likely lead to further innovations and broader applications, ensuring the continued growth of this vital segment of the 5G ecosystem in the coming years.

mmWave 5G Equipment Trends

The global mmWave 5G equipment market is experiencing explosive growth, projected to reach several billion units by 2033. The historical period (2019-2024) saw significant investment and infrastructure development laying the groundwork for the current expansion. The estimated market value in 2025 is already in the multi-billion dollar range, driven by increasing demand from the telecommunications sector and the burgeoning adoption of 5G across various applications. This report examines the market's trajectory from 2019 to 2033, analyzing key trends and influences. The forecast period (2025-2033) promises continued substantial growth fueled by technological advancements, falling equipment costs, and the expansion of 5G networks into new areas, particularly in regions beyond the initial adopters. The base year for this analysis is 2025, providing a strong foundation for projections based on current market dynamics. The significant increase in the number of connected devices and the rise of applications demanding high bandwidth and low latency are key drivers pushing the market toward unprecedented scale. The competitive landscape is characterized by both established players and new entrants, fostering innovation and driving down costs, making mmWave 5G technology more accessible to a wider range of users. However, challenges remain, including the higher cost of mmWave infrastructure compared to sub-6 GHz, limited range and signal penetration issues, and the need for denser network deployments. Despite these hurdles, the overall trend indicates a robust and continuously expanding market with significant potential for future growth. The increasing adoption in diverse sectors like automotive, public safety, and aerospace only further underscores the potential of this technology.

Driving Forces: What's Propelling the mmWave 5G Equipment Market?

Several factors are accelerating the growth of the mmWave 5G equipment market. Firstly, the inherent advantages of mmWave technology, such as its significantly higher bandwidth capabilities compared to sub-6 GHz, are driving its adoption for applications requiring high data rates. This is particularly crucial for services like augmented reality (AR), virtual reality (VR), and high-definition video streaming, which are becoming increasingly prevalent. Secondly, the continuous improvement in mmWave technology, leading to more efficient and cost-effective equipment, is making it increasingly attractive to telecom operators and other industry players. Advancements in antenna design, beamforming techniques, and power consumption are critical factors in this trend. Thirdly, substantial government support and investment in 5G infrastructure development globally are playing a pivotal role in driving market growth. Regulatory frameworks are evolving to support the deployment of mmWave networks, encouraging private and public sector investment in the technology. Finally, the increasing demand for faster and more reliable connectivity across various sectors, including automotive, public safety, and industrial automation, is creating a fertile ground for the expansion of mmWave 5G equipment. The convergence of these drivers positions mmWave 5G for continued significant market penetration.

Challenges and Restraints in mmWave 5G Equipment

Despite its considerable potential, the mmWave 5G equipment market faces significant challenges. The high cost of mmWave infrastructure compared to traditional sub-6 GHz deployments represents a considerable barrier to entry for many operators, especially in developing economies. This includes the cost of specialized equipment, antennas, and deployment. Moreover, the limited range and susceptibility to signal attenuation caused by obstacles like buildings and trees necessitate denser network deployments, further increasing costs. The complex nature of mmWave technology and the need for specialized expertise in design, deployment, and maintenance also present significant challenges. This skills gap can lead to higher deployment costs and potential delays in project timelines. Finally, regulatory hurdles and spectrum allocation policies can hinder the timely and efficient roll-out of mmWave networks in certain regions. Addressing these challenges will be crucial for accelerating market growth and realizing the full potential of mmWave 5G technology. Overcoming these hurdles requires sustained investment in research and development, fostering collaboration between industry players, and the development of supportive regulatory frameworks.

Key Region or Country & Segment to Dominate the Market

The Telecom segment is expected to dominate the mmWave 5G equipment market due to massive investments in network infrastructure upgrades. North America and Asia are projected to be the leading regions.

• North America: The US and Canada are witnessing significant 5G network deployments by major carriers like Verizon, AT&T, and T-Mobile, driving demand for mmWave equipment. The presence of major equipment vendors and a strong technological base contributes to this region's dominance.
• Asia: Countries like South Korea, Japan, and China are at the forefront of 5G adoption, resulting in substantial demand for mmWave equipment. These countries have heavily invested in infrastructure development and are actively deploying mmWave technology in urban areas to support high-density data traffic. The large populations and growing mobile user base further fuel this high demand.
• Telecom Segment Dominance: The telecom sector's focus on providing high-bandwidth services like 5G drives the significant demand for mmWave equipment. The need for enhanced network capacity, low latency, and improved speeds fuels investment in infrastructure upgrades and expansion across various geographies. Telecom operators' investments in upgrading their infrastructure, deploying private 5G networks, and expanding their coverage areas are major contributors to this segment’s growth.

The other segments—Aerospace, Automotive, and Public Safety—are also experiencing growth, albeit at a slower pace than Telecom. However, these sectors' increasing adoption of 5G for applications like connected cars, UAVs, and emergency response systems signifies substantial future potential. The automotive industry, in particular, is expected to witness a significant increase in demand for mmWave technology with the rising adoption of autonomous vehicles and Vehicle-to-Everything (V2X) communication.

Growth Catalysts in mmWave 5G Equipment Industry

The confluence of factors like increasing demand for high-bandwidth applications, continuous technological advancements making mmWave more cost-effective, substantial government investments in 5G infrastructure, and growing adoption across diverse sectors are key catalysts propelling the mmWave 5G equipment market toward substantial growth in the coming years. These factors are synergistically driving the market towards achieving its full potential and promise continued expansion throughout the forecast period.

Leading Players in the mmWave 5G Equipment Market

• NXP Semiconductors
• Airspan Networks
• AT&T (AT&T)
• Fastweb
• SoftBank (SoftBank)
• Corning (Corning)
• Nokia (Nokia)
• Mavenir
• NTT DOCOMO (NTT DOCOMO)
• AMD (AMD)
• Qualcomm (Qualcomm)
• Ericsson (Ericsson)
• Verizon Communications Inc (Verizon)
• Rakuten Mobile
• Singtel (Singtel)
• Samsung (Samsung)
• Fujitsu (Fujitsu)
• Renesas Electronics Corporation (Renesas)
• Keysight Technologies (Keysight Technologies)
• Movandi
• JMA Wireless
• Sivers Semiconductors
• ALCAN Systems
• Verana Networks
• Huawei
• ZTE Corporation
• Honor Device Co., Ltd
• OPPO

Significant Developments in mmWave 5G Equipment Sector

• 2020: Several major telecom operators announced large-scale mmWave 5G network deployments.
• 2021: Significant advancements in mmWave antenna technology were unveiled, leading to improved performance and reduced costs.
• 2022: Several new partnerships were formed between equipment manufacturers and telecom operators to accelerate mmWave 5G deployments.
• 2023: Regulations supporting mmWave 5G deployment were updated in several countries.

Comprehensive Coverage mmWave 5G Equipment Report

This report provides a comprehensive analysis of the mmWave 5G equipment market, covering key trends, drivers, challenges, and leading players. It offers valuable insights for stakeholders seeking to understand and participate in this rapidly expanding market. Detailed regional and segment-specific analyses provide granular market understanding, while projections through 2033 equip businesses with long-term market planning capabilities. This is an invaluable resource for strategic decision-making in the dynamic world of 5G technology.

mmWave 5G Equipment Segmentation

• 1. Type
  • 1.1. Solution
  • 1.2. Service
• 2. Application
  • 2.1. Aerospace
  • 2.2. Telecom
  • 2.3. Automotive
  • 2.4. Public Safety

mmWave 5G Equipment Segmentation By Geography

• 1. North America
  • 1.1. United States
  • 1.2. Canada
  • 1.3. Mexico
• 2. South America
  • 2.1. Brazil
  • 2.2. Argentina
  • 2.3. Rest of South America
• 3. Europe
  • 3.1. United Kingdom
  • 3.2. Germany
  • 3.3. France
  • 3.4. Italy
  • 3.5. Spain
  • 3.6. Russia
  • 3.7. Benelux
  • 3.8. Nordics
  • 3.9. Rest of Europe
• 4. Middle East & Africa
  • 4.1. Turkey
  • 4.2. Israel
  • 4.3. GCC
  • 4.4. North Africa
  • 4.5. South Africa
  • 4.6. Rest of Middle East & Africa
• 5. Asia Pacific
  • 5.1. China
  • 5.2. India
  • 5.3. Japan
  • 5.4. South Korea
  • 5.5. ASEAN
  • 5.6. Oceania
  • 5.7. Rest of Asia Pacific