5G mmWave technology market to grow by USD 674.1 mn by 2026

5G mmWave Technology Market to grow by USD 674.1 Mn by 2026, Segmentation by Application and Geography, according to Technavio.

The rising demand for high-speed networks increased deployment of telecom infrastructure, and increasing use of wireless communication technologies and e-computing services will offer immense growth opportunities.

5G MmWave 2026: Segmentation

Application
Wired/fiber Connection Replacement
Due to the gradual replacement of wired/fiber connections with 5G network infrastructure, there is a considerable demand for 5G mmWave technology in the communication sector. The growing demand for efficient communication networks in developing countries and the creation of several smart city initiatives have accelerated the implementation of 5G networks.

• Cellular backhaul/fronthaul
• Others

Geography
North America will account for 39% of the market’s growth over the forecasted timeframe. North America’s largest market for 5G mmWave technology is the US. The market in this region will grow more quickly than the markets in Europe, Asia, and the Middle East and Africa. The 5G mmWave technology market will rise in North America due to the greater adoption of this technology for mobile and telecom applications.

• Europe
• APAC
• Middle East And Africa
• South America

CT Bureau