June 18, 2024

The Global Multiple Input Multiple Output (MIMO) Technology Market Driven By Increasing Demand For High-Speed Internet Is Increasing MIMO Adoption

Multiple Input Multiple Output (MIMO) technology provides advanced wireless communication by using multiple antennas at both the source and the destination to improve communication performance. MIMO exploits multipath propagation to increase the data rate through spatial multiplexing which allows for the simultaneous transmission of independent data streams. It can also improve reliability through spatial diversity which protects the signal from fading. The global deployment of 4G LTE networks and the emergence of 5G technology along with proliferation of smart devices has increased the demand for high-speed wireless communication. This increasing need for high bandwidth is driving mobile operators and telecom equipment manufacturers to adopt MIMO technology in their networks to enhance network capacity and coverage.

The global Multiple Input Multiple Output (Mimo) Market is estimated to be valued at Us$ 7.2 Billion in 2023 and is expected to exhibit a CAGR Of 12.5% over the forecast period 2023-2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends in the MIMO technology market is the adoption of massive MIMO systems. Massive MIMO systems use a very large number of antennas—over 64 compared to 8 in conventional MIMO—at the base station to communicate with several devices simultaneously. This significantly improves network capacity and coverage. Major telecom equipment manufacturers are focusing on developing advanced massive MIMO solutions to support 5G networks. For instance, in July 2020, Ericsson launched a massive MIMO 32T32R 5G radio to deliver multi-gigabit speeds to consumers and enterprises. Rising deployment of 5G networks globally is expected to drive the adoption of massive MIMO systems during the forecast period.

 

Porter’s Analysis

Threat of new entrants: The MIMO technology market requires significant investments in research and development which makes it difficult for new companies to enter the market. However,the growing adoption of 5G networks provides opportunities for new companies.

Bargaining power of buyers: The bargaining power of buyers is high in the MIMO technology market as there are many established manufacturers providing similar technologies. Buyers can negotiate on price and demand additional services.

Bargaining power of suppliers: A few vendors occupy a major share of the supply market for MIMO antennas and other key components used in MIMO technology. This gives them negotiating power against manufacturers.

Threat of new substitutes: There exists a threat of substitutes like beamforming and massive MIMO from becoming mainstream in upcoming wireless network generations. However, MIMO offers advantages over substitutes and continues to be popular.

Competitive rivalry: The market landscape includes many technology giants and telecom equipment vendors investing in MIMO. This has led to cut-throat competition based on product performance and pricing.

Key Takeaways

The Global MIMO Market Demand is expected to witness high growth over the forecast period driven by the rise of 5G networks.

North America dominates the market currently due to rapid technological adoptions and high investments in 5G infrastructure by telecom operators in the region. Asia Pacific is expected to be the fastest growing market for MIMO solutions owing to government initiatives for smart city development and 5G rollouts in China and India.

Key players operating in the MIMO technology market include Cisco Systems Inc., Ericsson, Nokia Corporation, Huawei Technologies Co. Ltd., and ZTE Corporation. These players are focused on introducing innovative MIMO solutions to enhance network capabilities for 5G applications. They are also involved in partnerships, collaborations and mergers & acquisitions to expand their global footprint.

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