mmWave 5G Market Size

mmWave 5G Market size was valued at USD 3.26 billion in 2024 and is likely to cross USD 18.95 billion by 2037, registering more than 14.5% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of mmwave 5G is estimated at USD 3.64 billion. The enhanced mobile broadband (eMBB) in high-capacity locations is extensively used as the primary boosting factor for the market owing to its proficiency in handling large data transfers efficiently and maintaining high amidst network congestion. Sectoral growth is propelled by a robust increase in global mobile service revenues, which saw a rise of approximately 15% between 2020 and 2023, or about 4.6% annually.  This technology is pivotal in areas such as airports and concerts, where demand for connectivity without speed degradation is critical.    

In addition to these, factors that are believed to fuel the market growth of the market include enhanced last-mile connectivity solutions and mmWave’s seamless service delivery. eMBB’s advancements in high-density areas support diverse applications, from HD streaming to cloud services boosting sectoral expansion in urban centers.