The Global 5G Antenna Market was valued at USD 280.2 Mn in 2020 and is expected to reach USD 8,034.6 Mn by 2027, with a growing CAGR of 54.7% during the forecast period.
The primary factors driving the market growth are the developing demand for cell networking and a surge in the demand for high-paced connectivity networks. The increased need for faster data processing has additionally accomplished a feature in growing the market for 5G antennas. Moreover, the faster rollout of 5G networks significantly fuels the growth of the market during the forecast period.
The growing adoption of Low Power Wide Area Network (LPWAN), Long Range Wide Area Network (LoRaWAN), 5G, wireless sensor networks, and Internet Protocol Version 6 (IPv6) is predicted to fuel the demand for IoT applications, rising the demand for wireless technology. Other driving factors including elevated penetration of M2M/IoT connections throughout sectors and increased demand for cellular broadband offerings across the globe are contributing to the global development of the 5G antenna market.
Based on the technology, the global 5G antenna market has been segmented into SIMO, MISO, and MIMO. The MIMO segment is projected to gain the largest market share during the forecast period because it eliminates the need for extra bandwidth and power transfer costs. The enormous use of SIMO in wireless local area networks (WLANs), digital communication systems, cellular communication systems, and metropolitan area networks has contributed to its development. MISO technology is used to decrease errors and increase data transmission speed, as well as to allow signal customization.
The high investment cost in 5G antenna is the major restraining factor for the growth of the market. Moreover, the advent of industry 4.0 creates a lucrative opportunity for the development of the 5G antenna market. Furthermore, antenna efficiency reduction when migrating from a SISO to a MIMO system are the major challenge that hindered the growth of the 5G antenna market.
Global 5G Antenna Market by Region Outlook (Revenue, USD Million, 2021-2027)
In terms of geography, North America is on the verge to dominate the market and is expected to show its dominance during the forecast period. The growth in the region is mainly attributed to the high investment in the 5G rollout. For instance, according to the GSMA report published in 2020, the number of 5G connections is expected to grow to 410 million by 2025 in North America.
The Global 5G Antenna Industry Segmentation:
Global 5G Antenna Market by Type Industry Outlook (Revenue, USD Million, 2021-2027)
Global 5G Antenna Market by Technology Industry Outlook (Revenue, USD Million, 2021-2027)
Global 5G Antenna Market by Application Industry Outlook (Revenue, USD Million, 2021-2027)
The key players operating in the 5G antenna market are: