MIMO technology utilizes multiple antennas at both the source and the destination to improve communication performance. It enables the use of spatial diversity methods, multiplexing and beamforming to increase system capacity and reliability. Multiple antennas help in mitigating the deleterious effects of multipath propagation and frequency-selective fading. Products associated with the MIMO market include wireless access points, wireless modems, routers and other wireless networking devices that utilize multiple antennas to boost range and throughput. The global MIMO market includes technologies like LTE advance, LTE-A Pro, 5G, Wi-Fi 6 and upcoming 6G that make use of massive MIMO to deliver high speed broadband connectivity and enhanced mobile experiences.
The global MIMO market is estimated to be valued at US$ 10.93 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
5G networks make extensive use of MIMO to achieve multi-gigabit data speeds and enable new applications like autonomous driving, immersive extended reality and telemedicine. Continued investments by telecom operators and governments across the world to deploy 5G infrastructure will further propel the MIMO market over the forecast period. Rising consumption of high definition multimedia content with increasing number of connected devices per household is another driver of the market. Massive MIMO enables cellular operators to meet this exponential growth in traffic.
Segment Analysis
The global MIMO market is dominated by the cellular infrastructure segment which accounted for over 50% market share in 2023. This is due to increasing demand for broadband connectivity and need for high-speed data services globally. Within cellular infrastructure, massive MIMO sub-segment is witnessing highest growth as it allows cellular operators to meet exponential data traffic growth with limited additional spectrum and cell sites by transmitting and receiving signals simultaneously on the same frequency to many users.
PEST Analysis
Political: Countries globally are providing incentives and funding for rural broadband connectivity initiatives which is driving adoption of MIMO technology for cellular infrastructure.
Economic: With recovery of global economy post-pandemic, investments in 5G infrastructure rollouts are increasing which is positively impacting demand for MIMO technology from telecom equipment manufacturers and mobile operators.
Social: Rising demand for high-speed internet among consumers for applications like video streaming, gaming, etc. is fuelling investments in network capacity enhancements using MIMO technology.
Technological: Advancements in MIMO technology like massive MIMO, full-dimension MIMO (FD-MIMO) and cooperative MIMO are helping cellular networks to manage exponential data traffic growth.
Key Takeaways
The Global Multiple Input Multiple Output (MIMO) Market Size is expected to witness high growth over the forecast period due to increasing 5G infrastructure build-outs globally. Regionally, Asia Pacific dominated the market with over 35% share in 2023 led by countries like China and India. Large investments in 5G rollouts by Chinese telecom operators and rural broadband initiatives by the Indian government are fueling MIMO adoption.
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, Qorvo. Qualcomm dominated the market with its flagship Snapdragon X60 and X65 5G modem chips having integrated MIMO capabilities. Huawei also has a significant market share owing to its leadership in 5G infrastructure solutions globally.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
