5G or the fifth-generation mobile network has already been touted as one of the most important technological developments that will not only enhance mobile broadband services but will also provide a platform to support a large number of devices and services. The technology will help interconnect and control machines, devices, and objects, besides interconnecting people. With enhanced performance and efficiency, 5G will provide a new level of user experience, higher bandwidth, high reliability, and ultra-low latency.
The growing adoption of 5G will increase the demand for 5G smart antennas. These antennas are being deployed across the world in order to support 5G mobile network. 5G smart antennas will play a critical role in ensuring 5G network optimization and will provide mobility support for various enhanced applications services including virtual reality, self-driving cars, connected cars, and voice over 5G. As a result, with the increasing adoption and implementation of these technologies, the demand for 5G smart antennas will increase significantly. This, in turn, will propel the growth of the global 5G smart antennas market.
The market will receive a major boost from the increasing popularity of autonomous or self-driving vehicles, as these vehicles will require higher connectivity which 5G can provide. This will increase the demand for 5G smart antennas in the coming years. Apart from autonomous vehicles, 5G antennas will increase the adoption of IoT, smart homes, smart devices technology, and services. The increasing adoption of these technologies will boost the growth of the global 5G smart antennas market.
Further, increasing number of smart city projects will too increase the demand for 5G smart antennas and thereby, promote the growth of the global market. Driven by all these factors, the global 5G smart antenna market is expected to reach USD 3.1 billion by 2026, at a CAGR of 24.6%.
Based on technology, 5G smart antennas technology are of three types – MIMO (Multiple Input Multiple Output), MISO (Multiple Input and Single Output), and SIMO (Single Input Multiple Output). Among these, the MIMO technology is expected to register impressive growth and hold a significant market share in the coming years. This technology is known for providing reduced latency, increasing data rate, and channel hardening.
Region-wise, the Asia-Pacific region is expected to grow at the highest CAGR from 2019 to 2026. The impressive growth to be recorded by the region can be mainly attributed to the growing adoption of advanced and new technologies like IoT, machine learning, industrial automation, etc., by a wide range of industries. Further, increasing the number of smart city projects in the region will also give a major impetus to the Asia-Pacific 5G smart antenna market. The government of the various countries of the Asia-Pacific region are taking up major initiatives to enhance 5G infrastructure.
The major players operating in the global 5G smart antenna market are, Ericsson, Airspan Networks Inc., TE Connectivity Ltd., Telefonaktiebolaget LM, Murata Manufacturing Co., Ltd., Laird Connectivity, Qualcomm Technologies, Inc., Broadcom Inc., Samsung Electronics Co. Ltd., NXP Semiconductors, PCTEL Inc., Nokia Corporation, Motorola Solutions Inc., Honeywell International Inc., Ruckus Networks, ANSYS Inc., and Smart Antenna Technologies Ltd, among others.