mmWave 5G Market Size, Share, Growth, Trends, and Forecast by 2031
Historic Data: 2021-2023 | Base Year: 2024 | Forecast Period: 2025-2031mmWave 5G Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage : By Component (Hardware, Solutions, Services), Use Case (eMBB, mMTC, URLLC, FWA), Bandwidth (24GHz to 57GHz, 57GHz to 95GHz, 95GHz to 300GHz), End User (Aerospace and Defense, Telecom, Automotive and Transportation, Public Safety, Media and Entertainment, Others)
- Report Date : Oct 2025
- Report Code : TIPRE00039530
- Category : Electronics and Semiconductor
- Status : Upcoming
- Available Report Formats :
- No. of Pages : 150
AI overview of mmWave 5G Market
The mmWave 5G Market is poised for significant growth, with a projected market size reaching US$ XX million by 2031, reflecting a robust CAGR of 13.6% from 2025 to 2031. This growth is driven by the increasing demand for faster data speeds and the expansion of 5G infrastructure, alongside the rise of IoT and smart city developments. Historical data from 2021 to 2023 indicates a strong foundation for this market, which encompasses various segments including hardware, solutions, and services. Key trends such as the increased use of small cells for mmWave deployment and advancements in beamforming technology are shaping the future landscape. As industries like aerospace, telecom, and healthcare embrace mmWave 5G, the market share is expected to expand significantly, offering numerous opportunities for innovation.
The mmWave 5G Market is expected to register a CAGR of 13.6% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented By Component (Hardware, Solutions, Services), Use Case (eMBB, mMTC, URLLC, FWA), Bandwidth (24GHz to 57GHz, 57GHz to 95GHz, 95GHz to 300GHz), End User (Aerospace and Defense, Telecom, Automotive and Transportation, Public Safety, Media and Entertainment, Others). The global analysis is further broken-down at regional level and major countries. The report offers the value in USD for the above analysis and segments
Purpose of the Report
The report mmWave 5G Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
mmWave 5G Market Segmentation
Component
- Hardware
- Solutions
- Services
Use Case
- eMBB
- mMTC
- URLLC
- FWA
Bandwidth
- 24GHz to 57GHz
- 57GHz to 95GHz
- 95GHz to 300GHz
End User
- Aerospace and Defense
- Telecom
- Automotive and Transportation
- Public Safety
- Media and Entertainment
You will get customization on any report - free of charge - including parts of this report, or country-level analysis, Excel Data pack, as well as avail great offers and discounts for start-ups & universities
mmWave 5G Market: Strategic Insights
- Get Top Key Market Trends of this report.This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
mmWave 5G Market Growth Drivers
- Demand for Faster Data Speeds: The increasing need for high-speed data and low-latency communication is a major driver of the mmWave 5G market. mmWave (millimeter-wave) technology offers ultra-fast data transfer rates, enabling applications such as 4K video streaming, immersive virtual reality, and real-time data-intensive services. This demand for speed is pushing the adoption of mmWave 5G networks.
- Expansion of 5G Infrastructure: The global rollout of 5G networks is a key driver for mmWave adoption. Telecommunications companies are investing heavily in upgrading their infrastructure to support higher frequency bands like mmWave, which provides the necessary bandwidth for high-speed and high-capacity mobile networks, enhancing 5G performance.
- IoT and Smart City Developments: The growing Internet of Things (IoT) ecosystem and smart city initiatives require high bandwidth and low-latency networks, both of which are strengths of mmWave technology. mmWave 5G enables smart cities, connected devices, and industrial IoT applications to operate efficiently by providing the necessary data throughput.
mmWave 5G Market Future Trends
- Increased Use of Small Cells for mmWave Deployment: To overcome mmWave's shorter range and signal attenuation, small cells are being deployed in dense urban areas. These small, low-power cells will be used to ensure coverage and high-speed connectivity in urban centers, stadiums, and transportation hubs. This trend will drive the need for small cell infrastructure to complement mmWave 5G deployment and optimize network performance.
- Advances in Beamforming Technology: Beamforming technology is becoming more advanced in mmWave 5G networks. It allows for more precise targeting of signals, enhancing both coverage and signal quality, which is crucial for overcoming mmWave's challenges like atmospheric interference and line-of-sight requirements. Future advancements in beamforming will improve mmWave's reliability and performance, facilitating widespread adoption.
mmWave 5G Market Opportunities
- mmWave 5G for Autonomous Vehicles: The high-speed, low-latency capabilities of mmWave 5G make it an ideal solution for autonomous vehicles, which require real-time communication with surrounding infrastructure, other vehicles, and cloud networks. There is an opportunity for the development of mmWave-based communication systems that ensure seamless, instantaneous data transfer for autonomous vehicles, improving safety and operational efficiency in smart transportation systems.
- mmWave 5G for Remote Healthcare Solutions: With the rise of telemedicine and remote healthcare applications, mmWave 5G presents an opportunity to revolutionize healthcare delivery. The high-speed, low-latency capabilities of mmWave 5G will enable real-time remote monitoring of patients, high-quality teleconsultations, and the use of advanced medical devices, creating a vast opportunity in the healthcare sector to improve access to care and enhance patient outcomes.
mmWave 5G Market Regional Insights
The regional trends and factors influencing the mmWave 5G Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses mmWave 5G Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
mmWave 5G Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2024 | US$ XX million |
| Market Size by 2031 | US$ XX Million |
| Global CAGR (2025 - 2031) | 13.6% |
| Historical Data | 2021-2023 |
| Forecast period | 2025-2031 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
mmWave 5G Market Players Density: Understanding Its Impact on Business Dynamics
The mmWave 5G Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
- Get the mmWave 5G Market top key players overview
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the mmWave 5G Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the mmWave 5G Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
Frequently Asked Questions
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
Recent Reports
Related Reports
Testimonials
I wish to appreciate your support and the professionalism you displayed in the course of attending to my request for information regarding to infectious disease IVD market in Nigeria. I appreciate your patience, your guidance, and the fact that you were willing to offer a discount, which eventually made it possible for us to close a deal. I look forward to engaging The Insight Partners in the future, all thanks to the impression you have created in me as a result of this first encounter.
DR CHIJIOKE ONYIA MANAGING DIRECTOR, PineCrest Healthcare Ltd.
The Insight Partners delivered insightful, well-structured market research with strong domain expertise. Their team was professional and responsive throughout. The user-friendly website made accessing industry reports seamless. We highly recommend them for reliable, high-quality research services
YUKIHIKO ADACHI CEO, Deep Blue, LLC.
We worked with The Insight Partners for an important market study and forecast. They gave us clear insights into opportunities and risks, which helped shape our plans. Their research was easy to use and based on solid data. It helped us make smart, confident decisions. We highly recommend them.
PIYUSH NAGPAL Sr. Vice President, High Beam Global
I requested a report on a very specific software market and the team produced the report in a few days. The information was very relevant and well presented. I then requested some changes and additions to the report. The team was again very responsive and I got the final report in less than a week.
Jean-Herve Jenn Chairman, Future Analytica
This is the first time I have purchased a market report from The Insight Partners.While I was unsure at first, I visited their web site and felt more comfortable to take the risk and purchase a market report.I am completely satisfied with the quality of the report and customer service. I had several questions and comments with the initial report, but after a couple of dialogs over email with their analyst I believe I have a report that I can use as input to our strategic planning process.Thank you so much for taking the extra time and making this a positive experience.I will definitely recommend your service to others and you will be my first call when we need further market data.
John Suzuki President and Chief Executive Officer, Board Director, BK TechnologiesReason to Buy
- Informed Decision-Making
- Understanding Market Dynamics
- Competitive Analysis
- Identifying Emerging Markets
- Customer Insights
- Market Forecasts
- Risk Mitigation
- Boosting Operational Efficiency
- Strategic Planning
- Investment Justification
- Tracking Industry Innovations
- Aligning with Regulatory Trends
Yes! We provide a free sample of the report, which includes Report Scope (Table of Contents), report structure, and selected insights to help you assess the value of the full report. Please click on the "Download Sample" button or contact us to receive your copy.
Absolutely — analyst assistance is part of the package. You can connect with our analyst post-purchase to clarify report insights, methodology or discuss how the findings apply to your business needs.
Once your order is successfully placed, you will receive a confirmation email along with your invoice.
• For published reports: You’ll receive access to the report within 4–6 working hours via a secured email sent to your email.
• For upcoming reports: Your order will be recorded as a pre-booking. Our team will share the estimated release date and keep you informed of any updates. As soon as the report is published, it will be delivered to your registered email.
We offer customization options to align the report with your specific objectives. Whether you need deeper insights into a particular region, industry segment, competitor analysis, or data cut, our research team can tailor the report accordingly. Please share your requirements with us, and we’ll be happy to provide a customized proposal or scope.
The report is available in either PDF format or as an Excel dataset, depending on the license you choose.
The PDF version provides the full analysis and visuals in a ready-to-read format. The Excel dataset includes all underlying data tables for easy manipulation and further analysis.
Please review the license options at checkout or contact us to confirm which formats are included with your purchase.
Our payment process is fully secure and PCI-DSS compliant.
We use trusted and encrypted payment gateways to ensure that all transactions are protected with industry-standard SSL encryption. Your payment details are never stored on our servers and are handled securely by certified third-party processors.
You can make your purchase with confidence, knowing your personal and financial information is safe with us.
Yes, we do offer special pricing for bulk purchases.
If you're interested in purchasing multiple reports, we’re happy to provide a customized bundle offer or volume-based discount tailored to your needs. Please contact our sales team with the list of reports you’re considering, and we’ll share a personalized quote.
Yes, absolutely.
Our team is available to help you make an informed decision. Whether you have questions about the report’s scope, methodology, customization options, or which license suits you best, we’re here to assist. Please reach out to us at sales@theinsightpartners.com, and one of our representatives will get in touch promptly.
Yes, a billing invoice will be automatically generated and sent to your registered email upon successful completion of your purchase.
If you need the invoice in a specific format or require additional details (such as company name, GST, or VAT information), feel free to contact us, and we’ll be happy to assist.
Yes, certainly.
If you encounter any difficulties accessing or receiving your report, our support team is ready to assist you. Simply reach out to us via email or live chat with your order information, and we’ll ensure the issue is resolved quickly so you can access your report without interruption.
Get Free Sample For