by The global Multiple Input Multiple Output (MIMO) Market is estimated to be valued at US$ 10.93 Bn or Mn 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) technology employs multiple transmitters and receivers to improve communication performance. It enables higher data rates and range along with improved reception. MIMO exploits multipath propagation to achieve better spectral efficiency and link reliability without additional bandwidth or transmit power. By adding multiple antennas at both the transmitter and receiver, MIMO creates independent channels between them, multiplying capacity. This provides significant gains in data throughput and link range without additional bandwidth or transmit power.
Market key trends:
The adoption of 5G networks across many countries is a major growth driver for the MIMO market. 5G deployment relies heavily on MIMO technology to support its high data speeds and ultra-low latency capabilities. 5G networks require the use of mmWave bands which experience higher path and penetration losses. MIMO allows the implementation of beamforming techniques to focus energy in desired directions, helping overcome issues caused by higher path losses at mmWave frequencies. Increasing mobile data consumption is also spurring the need for faster wireless networks. As more users stream video and access bandwidth-intensive applications on their smartphones and other mobile devices, MIMO facilitates meeting this heightened demand.
Porter’s Analysis
Threat of new entrants: The MIMO market requires large investments in R&D which increases the entry barriers for new players.
Bargaining power of buyers: The presence of established manufacturers limits the bargaining power of buyers in this market.
Bargaining power of suppliers: Major components suppliers like chip manufacturers have some influence over manufacturers.
Threat of new substitutes: Currently, there are limited alternative wireless communication technologies that can substitute MIMO.
Competitive rivalry: The MIMO market is highly competitive with major players differentiating through technological innovations.
Key Takeaways
The global Multiple Input Multiple Output (MIMO) Market Size is expected to witness high growth, exhibiting CAGR of 10.5% over the forecast period, due to increasing demand for high-speed internet connectivity. The market valued at US$ 10.93 Bn in 2023 is anticipated to reach US$ 22.56 Bn by 2030.
North America dominates the global MIMO market with largest share owing to rapid adoption of advanced wireless technologies. Asia Pacific is expected to grow at the fastest pace during the forecast period driven by rising smartphone and internet users in countries like China and India.
Key players operating in the MIMO market are 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. Key players are focusing on technological advancements such as 5G and mmWave products to gain competitive advantage.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
