mmWave 5G Market Report 2026

The mmwave 5g market size has grown rapidly in recent years. It will grow from $3.84 billion in 2025 to $4.42 billion in 2026 at a compound annual growth rate (CAGR) of 15%. The growth in the historic period can be attributed to exponential growth in mobile data traffic, limitations of sub 6 ghz spectrum, demand for high speed connectivity, early 5g commercialization efforts, growth of video streaming services.

The mmwave 5g market size is expected to see rapid growth in the next few years. It will grow to $7.46 billion in 2030 at a compound annual growth rate (CAGR) of 14%. The growth in the forecast period can be attributed to smart city infrastructure expansion, adoption of autonomous vehicles, growth of ar and vr applications, industrial automation demand, increasing investments by telecom operators. Major trends in the forecast period include high frequency small cell deployments, expansion of fixed wireless access, ultra low latency network applications, dense urban mmwave network rollouts, integration with edge computing platforms.

The rapid digitalization of enterprises is expected to propel the growth of the mmWave 5G market going forward. Digitalization refers to integrating digital technologies into business. Businesses are transforming their processes to improve revenues, which is also called digital transformation. The mmWave 5G technology offers high internet speeds, enabling and facilitating data transfer for businesses. For instance, in May 2023, according to the report published by the Commonwealth Scientific and Industrial Research Organization (CSIRO), an Australia-based government agency, 68% of businesses in Australia have already adopted artificial intelligence (AI) technologies, while an additional 23% intend to implement them within the next year. Therefore, the rapid digitalization of enterprises is driving the growth of the mmWave 5G market.

Major players operating in the mmWave 5G market are entering into strategic partnerships to strengthen their position in the market. Strategic partnerships drive collaboration, accelerate tech development, and strengthen the mmWave 5G market. For Instance, in February 2023, Telefónica S.A, a Spain-based Telecommunications company, Ericsson, a Sweden-based Telecommunications company, and Qualcomm Inc., a US-based multinational corporation, have jointly launched the first commercial mobile 5G millimeter wave (mmWave) network. This deployment represents a significant milestone in the advancement of 5G technology, particularly the use of mmWave spectrum, which enables high-speed, low-latency connectivity for a wide range of applications. The introduction of 5G mmWave networks is a key step in realizing the full potential of 5G technology, offering enhanced capacity and performance to support the growing demand for high-bandwidth services and applications.

In November 2023, Airspan Networks Holdings Inc., a US-based provider of mmWave 5G solutions partnered with with Prospecta Utilities. This collaboration focuses on deploying a cutting-edge 5G mmWave fixed wireless access (FWA) network across Australia. The initiative aims to significantly enhance connectivity for both citizens and enterprises, transforming communication methods throughout the region. Prospecta Utilities is an Australia-based provider of multiservice infrastructure solutions.

Major companies operating in the mmwave 5g market are Samsung Electronics Co Ltd.; Verizon Communications Inc.; AT&T Inc.; Huawei Technologies Co Ltd.; Intel Corporation; Qualcomm Incorporated; NEC Corporation; Nokia Corporation; Telefonaktiebolaget LM Ericsson; ZTE Corporation; NXP Semiconductors N.V.; Analog Devices Inc.; Microchip Technology Inc.; Skyworks Solutions Inc.; Keysight Technologies Inc.; Qorvo Inc.; Rohde & Schwarz GmbH & Co KG; Viavi Solutions Inc.; Xilinx Inc.; MACOM Technology Solutions Holdings Inc.; ADVA Optical Networking SE; Ceragon Networks Ltd.; Casa Systems Inc.; Inseego Corp; Airspan Networks Holdings Inc.; Anokiwave Inc.; Akoustis Technologies Inc.; Movandi Corporation; Cohere Technologies Inc.; E-Band Communications LLC.

North America was the largest region in the mmWave 5G market in 2025. The regions covered in the mmwave 5g market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the mmwave 5g market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Tariffs have significantly affected the mmwave 5g market by increasing costs for imported antennas, radio frequency components, and network hardware. These impacts are especially visible in telecom deployments across North America, Asia Pacific, and parts of Europe where global supply chains are deeply integrated. Higher equipment costs have influenced rollout timelines and capital expenditure planning for operators. However, tariffs have also encouraged local manufacturing and regional sourcing of 5g hardware. This has supported domestic ecosystem development and long term network resilience.

The mmwave 5g market research report is one of a series of new reports that provides mmwave 5g market statistics, including mmwave 5g industry global market size, regional shares, competitors with a mmwave 5g market share, detailed mmwave 5g market segments, market trends and opportunities, and any further data you may need to thrive in the mmwave 5g industry. This mmwave 5g market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

MMWave 5G denotes millimeter waves, specifically frequencies starting at 24 GHz and higher, commonly recognized as mmWaves or high-band 5G. Operating in millimeter wave (mmWave) frequency bands beyond 24 GHz, this technology offers remarkable capacity, ultra-high throughput, and exceptionally low latency. Leveraging these frequencies, 5G networks facilitate significantly faster data speeds and substantially increased bandwidth compared to previous generations.

The fundamental elements of mmWave 5G encompass hardware, solutions, and services. Hardware constitutes the physical components integral to mmWave 5G, including array antenna systems and other necessary network elements. Bandwidth allocations ranging from 24GHz to 57GHz, 57GHz to 95GHz, and 95GHz to 300GHz cater to various applications such as enhanced Mobile Broadband (eMBB), Fixed Wireless Access (FWA), massive Machine-Type Communications (mMTC), and Ultra-Reliable Low Latency Communications (URLLC). These applications find use across diverse sectors such as real-time surveillance cameras, Augmented Reality (AR) and Virtual Reality (VR), Industry 4.0, live streaming, transport connectivity, ultra-high-definition video, among others. End users span industries including aerospace and defense, telecommunications, media and entertainment, automotive and transportation, public safety, healthcare and life sciences, and more.

The mmWave 5G market consists of revenues earned by entities by providing mmWave 5G services such as professional services, consulting, development and integration, support and maintenance, and managed services. The market value includes the value of related goods sold by the service provider or included within the service offering. The mm-wave 5G market also includes sales of antennas and transceiver components, communication and networking components, frequency, and sources, RF and radio components, and other used in providing 5G services. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The IT market is segmented into IT services; computer hardware; telecom and software products.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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