February 29, 2024
Multiple Input Multiple Output (MIMO) Market

Multiple Input Multiple Output (MIMO) Market: The Rise Of 5G Networks Sets The Stage For Increased Adoption Of MIMO Technology

Market Overview:
The Multiple Input Multiple Output (MIMO) Market enables high-speed wireless communication through the use of multiple antennas at both the source and destination to improve transmission speeds, reliability, and range. MIMO technology plays a critical role in meeting the high bandwidth and low latency demands of emerging 5G networks and enables faster data speeds for applications such as autonomous driving, augmented/virtual reality, and IoT.

Market Dynamics:
The growth of the MIMO market is driven by two main factors. First, the rollout of 5G networks worldwide is increasing demand for supporting technologies like MIMO that can maximize 5G throughputs. Major economies have already started or are in the process of deploying 5G, which relies heavily on MIMO. Second, applications that require fast, real-time connectivity such as autonomous driving, AR/VR, and telemedicine are generating demand for solutions capable of bandwidths only MIMO can currently support. The ability of MIMO to significantly boost wireless network capacities and deliver multi-Gbps speeds make it well-positioned to power diverse 5G use cases.

Market key trends:
The MIMO technology is gaining widespread adoption owing to its ability to significantly boost network capacity and spectral efficiency without requiring additional spectrum or infrastructure investments. MIMO provides higher data throughput and reliability for diverse applications ranging from cellular networks and Wi-Fi to satellite communications. Moreover, the integration of MIMO in the emerging 5G networks will further accelerate its adoption in the long run as 5G deployments continue to rise globally over the forecast period.

SWOT Analysis
Strength: MIMO significantly improves network performance and efficiency without major costs.
Weakness: Initial investment requirements for network upgrades and lack of compatibility with legacy systems.
Opportunity: Growing demand for high bandwidth connectivity driven by data consumption and 5G deployments worldwide.
Threats: Slow commercial adoption of new technologies and global macroeconomic uncertainties.

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 2023 – 2030, due to increasing demand for high speed mobile connectivity. The market was valued at US$ 10.93 Bn in 2023.

Regional analysis
North America is expected to dominate the MIMO market during the forecast period. This is attributed to early 4G and 5G deployments in countries like the US. Asia Pacific is anticipated to be the fastest growing region owing to rising mobile data consumption in major economies like China and India.

Key players
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. Major players are focused on developing advanced MIMO solutions for 5G networks and applications.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it