Rapid Adoption of Smartphones and 5G Infrastructure Drives MIMO Market to $21.98 Billion by 2030
DUBLIN, Oct. 2, 2023 /PRNewswire/ -- The "Multiple Input Multiple Output (MIMO) Market, By Technology, By Type, By Application, By Antenna Type, By End User, By geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global Multiple Input Multiple Output (MIMO) market is anticipated to witness substantial growth, with an expected value of $21.98 billion by 2030, up from $10.93 billion in 2023, representing a Compound Annual Growth Rate (CAGR) of 10.5% during the forecast period.
MIMO technology is characterized by the use of multiple antennas at both the transmitter and receiver ends to facilitate data transmission and reception over the same frequency band. This innovative approach harnesses spatial diversity, mitigating interference and enhancing signal quality. With the rising demand for high-speed data transmission and the proliferation of connected devices, MIMO technology has evolved into an indispensable component in wireless communication systems.
Key Drivers of Market Growth
Several key factors are expected to drive the growth of the global MIMO market:
While the MIMO market exhibits significant growth potential, it faces certain challenges:
The MIMO market offers substantial growth opportunities despite its challenges. The increasing demand for high-speed data transmission, the proliferation of connected devices, and the deployment of 5G networks are expected to drive the market forward.
The global MIMO market is segmented based on technology, type, application, antenna type, end-user, and region. Key segments include:
Key companies in the global MIMO market include Qualcomm, Huawei, Intel, Samsung, Nokia, Ericsson, ZTE, NEC, Aviat Networks, and Ceragon Networks.
The global Multiple Input Multiple Output (MIMO) market is poised for substantial growth, driven by the escalating demand for high-speed data transmission and the deployment of 5G networks. Despite challenges, MIMO technology is well-positioned to play a pivotal role in the evolving landscape of wireless communication systems.
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