
Study Period | 2020 - 2030 |
Market Size (2025) | USD 44.26 Billion |
Market Size (2030) | USD 137.93 Billion |
CAGR (2025 - 2030) | 25.52 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | Low |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
5G MmWave Market Analysis
The 5G MmWave Market size is estimated at USD 44.26 billion in 2025, and is expected to reach USD 137.93 billion by 2030, at a CAGR of 25.52% during the forecast period (2025-2030).
- Many countries are leveraging the 5G mmWave spectrum to enhance low and mid-band 5G connectivity. This advancement paves the way for smart city services, such as intelligent traffic management and energy-efficient buildings. Additionally, it supports advanced medical applications like remote surgery and real-time patient monitoring, as well as industrial applications that demand low latency, including automated manufacturing and precision agriculture.
- The low latency features of 5G mmWave technology will enhance surveillance, elevate video streaming and broadcasts, and enrich AR/VR experiences for online gaming. Furthermore, these advancements will play a pivotal role in the evolution of the 5G smart factory. Positioned within the broader context of Industry 4.0, the emergence of the 5G smart factory is set to not only expedite the rollout of 5G technology but also generate a significant number of jobs, heralding a new and promising era of technological progress.
- Driving the expansion of the 5G mmWave market are factors such as progress in 6G development, bolstered security measures, initiatives for rural connectivity, collaborations across industries, and active research in quantum communication. During the forecast period, notable trends include the adoption of mmWave 5G in autonomous vehicles, the evolution of smart infrastructure and grids, the application of 5G in agriculture, and the growth of enhanced fixed wireless access (FWA).
- In November 2024, the Centre for Development of Telematics (C-DOT), the premier telecom R&D center under the Department of Telecommunications (DoT) of the Government of India, inked a deal with the Indian Institute of Technology Roorkee (IIT Roorkee) to develop a 'Millimeter Wave Transceiver for 5G Rural Connectivity'. This agreement falls under the Telecom Technology Development Fund (TTDF) scheme, also managed by the Department of Telecommunications, Government of India. The TTDF scheme is pivotal in funding Indian startups, academic institutions, and R&D entities.
- However, the rollout of 5G mmWave technology incurs significant deployment costs. To effectively cover areas, carriers must invest heavily in installing a dense network of small cells. This challenge is intensified by mmWave's limited coverage range and its requirement for a direct line of sight.
5G MmWave Market Trends
Antennas and Transceivers Segment to Fuel the Market Growth
- Unlike traditional antennas, a 5G mmWave antenna operates at high frequencies, enabling ultra-fast data transmission rates and significantly increased bandwidth. This advancement ensures the delivery of high-speed internet and supports a wide range of advanced wireless services. As a cornerstone of 5G network deployment, this technology adeptly manages surging data demands and connects a multitude of devices simultaneously.
- Operating above 24GHz, 5G mmWave enables high throughput speeds and expanded bandwidth. This is vital to meet the surging demand for high-speed internet and data-intensive applications, including streaming and real-time communication. The technology's ability to handle large amounts of data with minimal latency makes it a cornerstone for future advancements in telecommunications and various other industries.
- It's essential to develop high-frequency antennas tailored for mmWave frequencies. These antennas facilitate ultra-fast data transmission, boast compact designs, and necessitate line-of-sight communication. Such features render them ideal for urban settings, where high data rates are paramount. Additionally, the small form factor of these antennas allows for easier integration into existing infrastructure, further enhancing their suitability for densely populated areas.
- Furthermore, 5G mmWave antennas utilize beamforming technology to precisely direct radio signals to targeted areas. While conventional antennas cast a wide net, akin to a floodlight illuminating an expansive area, beamforming antennas operate more like a focused flashlight, honing in on specific coverage areas and minimizing extraneous signals.
- According to GSMA, by 2030, 5G adoption will approach the milestone of one billion connections. This technology is poised to drive future mobile innovations and enhance ongoing deployments, contributing nearly USD 1 trillion to the global economy by 2030. The report highlights that in 2023, 30 new markets in Africa and Asia are set to roll out 5G services. As the momentum for 5G adoption builds, network operators are intensifying their focus on expanding 5G fixed wireless access (FWA) services. Furthermore, markets characterized by low fixed broadband penetration and increasing incomes are projected to experience a 5G growth rate surpassing the global average.

Asia-Pacific to Witness Significant Growth
- The region is home to major telecom and tech companies such as Huawei, Samsung, NEC among others which are well positioned for innovations in 5G mmWave. These companies leverage their extensive research and development capabilities, robust infrastructure, and strategic partnerships to drive advancements in this sector. Their presence in the region not only fosters technological growth but also attracts investments and talent, further solidifying the region's status as a hub for cutting-edge 5G mmWave innovations.
- Countries including China, India, Japan, and South Korea are making significant investments in 5G infrastructure, bolstered by supportive government policies for swift deployment. These nations recognize the transformative potential of 5G technology in driving economic growth, enhancing connectivity, and fostering innovation across various industries. Government initiatives and funding are accelerating the development and implementation of 5G networks, positioning these countries at the forefront of the global 5G race.
- Moreover, in February 2024, India's communications solutions provider, Bharti Airtel (Airtel), in collaboration with Ericsson, has successfully showcased 5G mmWave capabilities on the Airtel network. The tests achieved peak speeds of 4.7Gbps, underscoring mmWave's potential for meeting high network capacity demands.
- As demand for high-speed internet connectivity surges, industries across the Asia Pacific are swiftly adopting 5G technology. This rapid adoption is driven by the need for faster data transfer rates, lower latency, and the ability to connect a multitude of devices seamlessly. GSMA reports that in 2023, the Asia Pacific accounted for 45% of global 5G mobile connections, with projections suggesting a leap to 88% by 2030. This significant growth indicates a robust market potential for 5G technology in the region, influencing various sectors such as healthcare, manufacturing, and transportation.

5G MmWave Industry Overview
The 5G mmWave market is characterized by fragmentation, with key players including Samsung, AT&T Inc., Huawei, Qualcomm, NEC, and Nokia Corporation, among others. These market players are leveraging strategies like acquisitions, product launches, and partnerships to bolster their offerings and secure a competitive edge.
In summary, the 5G mmWave market is poised for substantial growth driven by technological advancements, increased adoption across various industries, and significant investments in infrastructure development. As these trends continue to evolve, the market will likely expand rapidly over the next decade.
5G MmWave Market Leaders
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Qualcomm
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Ericsson
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Verizon
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Huawei
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NXP Semiconductors
- *Disclaimer: Major Players sorted in no particular order

5G MmWave Market News
- October 2024: Vodafone, Qualcomm Technologies Inc., and Ericsson have successfully showcased the advantages of Millimetre wave (mmWave) technology through two trials in the UK. These trials not only highlighted enhanced data upload capabilities but also explored diverse applications. Beyond traditional home broadband, the elevated upload speeds present an opportunity for media companies. They can now wirelessly connect cameras and broadcasting equipment, offering a more cost-effective and flexible solution for covering events that were previously deemed unfeasible.
- February 2024: Nokia has unveiled a 5G outdoor fixed wireless access receiver aimed at boosting broadband coverage across urban, suburban, and rural locales. This outdoor receiver empowers operators to leverage the cost-effective mmWave spectrum, delivering consistent and ultra-fast wireless broadband services in regions where fiber deployment poses challenges. Notably, the receiver can craft a digital fingerprint of available radio signals, swiftly detecting changes and toggling between signal sources to uphold the optimal connection between the base station and the receiver.
5G MmWave Industry Segmentation
5G mmWave, short for millimeter-wave, represents the elevated radio frequency spectrum that 5G technology utilizes, surpassing the frequencies used by 4G. This advanced frequency range enables 5G mmWave to deliver high capacity, rapid data throughput, and minimal latency.
5g mm wave market is segmented by components type (antennas and transceiver, communications and networking, interface, frequency and related components, and imaging), by product (radar and satellite communication system, scanning system, and telecommunication equipment), by bandwidth (24ghz to 57ghz, 57ghz to 95ghz, and 95ghz to 300ghz), by application (real-time surveillance cameras, augmented reality/virtual reality, industry 4.0, ultra high-definition video, transport connectivity, and live streaming), by use-case (fixed wireless access (FWA), enhanced mobile broadband, massive-machine-type communications, and ultra reliable and low-latency communications), by end-user industry (aerospace and defense, telecommunication, automotive and transportation, healthcare and life sciences, public safety, and media and entertainment), by geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
By Components Type | Antennas and Transceiver |
Communications and Networking | |
Interface | |
Frequency and Related Components | |
Imaging | |
Other Components | |
By Product | Radar and Satellite Communication Syatem |
Scanning System | |
Telecommunication Equipment | |
Others | |
By Bandwidth | 24ghz to 57ghz |
57ghz to 95ghz | |
95ghz to 300ghz | |
By Application | Real-time Survillience Cameras |
Augmented Reality/Virtual Reality | |
Industry 4.0 | |
Ultra High-Definition Video | |
Transport Connectivity | |
Live Streaming | |
Others | |
By Use-Case | Fixed Wireless Access (FWA) |
Enhanced Mobile Broadband | |
Massive-Machine-Type Communications | |
Ultra Reliable and Low-Latency Communications | |
By End-User Industry | Aerospace and Defense |
Telecommunication | |
Automotive and Transportation | |
Healthcare and Life Sciences | |
Public Safety | |
Media and Entertainment | |
***By Geography | North America |
Europe | |
Asia | |
Australia and New Zealand | |
Latin America | |
Middle East and Africa |
5G MmWave Market Research FAQs
How big is the 5G MmWave Market?
The 5G MmWave Market size is expected to reach USD 44.26 billion in 2025 and grow at a CAGR of 25.52% to reach USD 137.93 billion by 2030.
What is the current 5G MmWave Market size?
In 2025, the 5G MmWave Market size is expected to reach USD 44.26 billion.
Who are the key players in 5G MmWave Market?
Qualcomm, Ericsson, Verizon, Huawei and NXP Semiconductors are the major companies operating in the 5G MmWave Market.
Which is the fastest growing region in 5G MmWave Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in 5G MmWave Market?
In 2025, the North America accounts for the largest market share in 5G MmWave Market.
What years does this 5G MmWave Market cover, and what was the market size in 2024?
In 2024, the 5G MmWave Market size was estimated at USD 32.96 billion. The report covers the 5G MmWave Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the 5G MmWave Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
5G MmWave Industry Report
Statistics for the 2025 5G MmWave market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. 5G MmWave analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.