5G mm Wave Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Component (Hardware, Solutions and Services), By Bandwidth (24Ghz to 57Ghz, 57Ghz to 95Ghz, and 95Ghz to 300Ghz), By Application, (Real time surveillance cameras, AR/VR, Industry 4.0, Live Streaming, Ultra-High-Definition Video, Transport Connectivity, Others), By Industry (Aerospace and Defense, Telecom, Automotive and Transportation, Public safety, Healthcare and Life science, Media and Entertainment, and Others), By Region, By Competition 2021-2031F

Forecast Period	2027-2031
Market Size (2025)	USD 12.24 Billion
CAGR (2026-2031)	14.91%
Fastest Growing Segment	Real time surveillance cameras
Largest Market	North America
Market Size (2031)	USD 28.18 Billion

Market Overview

The Global 5G mm Wave Market will grow from USD 12.24 Billion in 2025 to USD 28.18 Billion by 2031 at a 14.91% CAGR. The Global 5G mmWave Market encompasses the segment of telecommunications infrastructure and user equipment operating on high-frequency spectrum bands, typically ranging from 24 GHz to 100 GHz, designed to deliver multi-gigabit speeds and ultra-low latency. The market’s expansion is fundamentally driven by the critical need for substantial bandwidth capacity in dense urban environments and the increasing necessity for Fixed Wireless Access (FWA) as a cost-effective alternative to fiber optics. Additionally, the industrial sector supports this growth through requirements for private networks that demand precise, real-time data transmission for automation and robotics, distinct from general consumer mobile trends.

Despite these drivers, the market faces a significant challenge regarding signal propagation, as millimeter waves have a limited range and struggle to penetrate physical obstacles like walls and foliage, necessitating dense infrastructure investment. This requirement for extensive small cell deployment can elevate capital expenditures and slow network rollouts. According to the Global mobile Suppliers Association, in 2025, 203 operators in 56 countries and territories were identified as investing in 5G mmWave network deployments, reflecting continued industry commitment despite these technical impediments.

Key Market Drivers

The surging demand for ultra-high-speed Fixed Wireless Access (FWA) services is a primary catalyst for the Global 5G mmWave Market, as operators leverage high-frequency bands to deliver connectivity comparable to fiber optics without extensive cabling. This strategy effectively addresses last-mile challenges in both dense urban and underserved suburban areas, utilizing the substantial bandwidth of the millimeter wave spectrum to support bandwidth-intensive home applications. The rapid scalability of this technology is accelerating its global adoption as a viable broadband alternative. According to Ericsson, November 2025, in the 'Mobility Report', FWA connections were forecast to reach 185 million by the end of 2025, underscoring the pivotal role of high-frequency spectrum in meeting modern broadband requirements.

Simultaneously, the escalating mobile data traffic requirements in large public venues and stadiums are driving the critical need for high-capacity connectivity. In these environments, the propagation characteristics of millimeter waves allow for precise beamforming and frequency reuse, essential for managing extreme network density during mass gatherings. The capability of this infrastructure to handle massive throughput is evidenced by real-world performance metrics. According to Verizon, February 2025, in the 'News Release', fans at the Caesars Superdome consumed 38.1 TB of data in and around the stadium during the Super Bowl, demonstrating the necessity of high-band solutions. This operational demand is supported by a widening hardware ecosystem. According to the Global mobile Suppliers Association (GSA), in 2025, the number of commercially available mmWave devices had increased to over 150, reflecting a maturing supply chain capable of sustaining these deployments.

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Key Market Challenges

The primary challenge hampering the Global 5G mmWave Market is the physical limitation of signal propagation, which necessitates a dense and costly infrastructure. Since millimeter waves have short wavelengths that are easily blocked by physical obstacles such as buildings and foliage, operators cannot rely on traditional macro towers for broad coverage. Instead, they must install a vast network of small cell base stations to ensure reliable connectivity. This requirement drastically increases capital expenditures and creates a substantial financial barrier for telecommunications providers, making the business case for widespread deployment difficult to justify outside of ultra-dense urban centers.

Consequently, this high cost of infrastructure directly slows the transition from testing to commercial reality. Operators are hesitant to commit to full-scale rollouts when the return on investment remains uncertain due to these deployment complexities. This hesitation is evident in the slow rate of active network launches globally. According to the Global mobile Suppliers Association, in July 2025, only 24 operators in 17 countries had commercially launched 5G networks using mmWave spectrum. This low figure illustrates how physical signal limitations and the associated financial burdens are effectively stalling the broader expansion of the market.

Key Market Trends

The proliferation of Private 5G networks for industrial automation is fundamentally reshaping the market as enterprises transition from proof-of-concept trials to full-scale commercial deployments. Manufacturers are increasingly utilizing the ultra-wide bandwidth of millimeter waves to support latency-critical applications such as autonomous mobile robots and digital twins, which require consistent throughput in complex radio environments. This shift is driven by the tangible operational efficiencies these dedicated networks provide, validating the heavy infrastructure investment required for high-frequency spectrum. According to Nokia, September 2025, in the '2025 Industrial Digitalization Report', 87% of industrial adopters achieved a positive return on investment within just one year of deployment, underscoring the rapid value realization that is accelerating global adoption.

Simultaneously, the integration of artificial intelligence for dynamic beamforming is emerging as a critical technical evolution to overcome the inherent propagation challenges of high-frequency bands. By embedding machine learning algorithms directly into the modem-RF system, operators can optimize beam management in real-time, predicting user movement and adjusting signal directionality to maintain robust connections even in cluttered environments. This technological leap enables devices to sustain millimeter wave links more effectively, significantly reducing power consumption while enhancing coverage resilience. According to Qualcomm, March 2025, in the 'Press Release', the newly introduced X85 5G Modem-RF System features an improved 5G AI Processor specifically designed to deliver AI-driven improvements in coverage and efficiency, supporting peak download speeds of up to 12.5 Gbps.

Segmental Insights

The Real-time surveillance cameras segment constitutes the fastest-growing category within the Global 5G mm Wave Market. This accelerated growth is propelled by the critical need for high-definition video monitoring across smart cities and industrial complexes. 5G mmWave technology uniquely offers the immense bandwidth and minimal latency necessary to transmit continuous, ultra-high-resolution video streams without interruption. Consequently, security organizations and municipal bodies are rapidly deploying these systems to enhance situational awareness. This adoption ensures immediate data analysis and response, addressing complex safety requirements in densely populated and high-risk environments more effectively than legacy networks.

Regional Insights

North America commands the leading position in the Global 5G mmWave Market, driven by extensive infrastructure development and strategic regulatory support. The United States serves as the primary contributor, where major telecommunication operators aggressively deployed high-band networks to enhance capacity in dense urban centers. This expansion was significantly enabled by the Federal Communications Commission, which prioritized the auction of millimeter-wave spectrums to accelerate network commercialization. Additionally, the widespread availability of compatible devices has spurred high adoption rates across the region, firmly establishing North America as the central hub for market revenue and integration.

Recent Developments

• In March 2025, Ericsson, working alongside NBN Co and Qualcomm Technologies, achieved a groundbreaking milestone in 5G millimeter wave technology range extension. During live field trials conducted in Australia, the consortium successfully transmitted high-frequency signals over a distance of approximately 14 kilometers. The test recorded wholesale download speeds exceeding 1 Gbps and upload speeds of over 100 Mbps at this extended range. This achievement highlighted the capability of mmWave spectrum to deliver ultra-fast connectivity to regional and remote locations, proving its viability for long-range fixed wireless access applications that were previously considered difficult to reach.
• In December 2024, Nokia announced a strategic partnership with EOLO, an Italian fixed wireless access provider, to deploy Europe's first 5G standalone millimeter wave Radio Access Network. The four-year agreement involves the supply of mmWave radios and outdoor receivers designed to connect underserved communities and bridge the digital speed gap. This deployment utilizes compact radio solutions and energy-efficient system-on-chip technology to deliver ultra-wide bandwidth and premium connectivity. The infrastructure aims to provide stable, high-speed internet services to homes and businesses in areas where traditional fiber deployment is often challenging or cost-prohibitive.
• In October 2024, Vodafone, in collaboration with Ericsson and Qualcomm Technologies, successfully completed significant 5G millimeter wave trials in the United Kingdom. These trials demonstrated the high-band spectrum's ability to deliver fiber-like speeds and manage high network traffic. One test conducted in Newbury achieved peak download speeds of up to 4 Gbps using fixed wireless access technology, while another trial at a London stadium reached 2.8 Gbps in a dense urban environment. The project utilized antenna-integrated radios and advanced devices to validate the technology's potential for providing high-capacity broadband connectivity to homes and public venues without extensive physical infrastructure.
• In February 2024, Qualcomm Technologies unveiled its advanced Snapdragon X80 5G Modem-RF System during the Mobile World Congress in Barcelona. This new product integrates a dedicated artificial intelligence processor and an architecture prepared for 5G Advanced standards. A significant feature of the system is its AI-based millimeter wave range extension, which was specifically engineered to enhance the performance and coverage of fixed wireless access customer premise equipment. The launch represented a major technological step forward, offering improved spectrum flexibility and power efficiency, while also achieving industry milestones such as fully integrated support for non-terrestrial satellite communications.

Key Market Players

• NXP Semiconductors N.V.
• Airspan Networks Inc.
• AT&T Inc.
• SoftBank Group Corp.
• Corning Incorporated
• Nokia Corporation
• NTT DOCOMO, INC.
• Huawei Technologies Co., Ltd.
• Qualcomm Incorporated
• Verizon Communications Inc.
• Rakuten Mobile, Inc.
• Samsung Electronics Co., Ltd.
• Fujitsu Limited
• Renesas Electronics Corporation

By Component	By Bandwidth	By Application,	By Industry	By Region
Hardware Solutions and Services	24Ghz to 57Ghz 57Ghz to 95Ghz and 95Ghz to 300Ghz	Real time surveillance cameras AR/VR Industry 4.0 Live Streaming Ultra-High-Definition Video Transport Connectivity Others	Aerospace and Defense Telecom Automotive and Transportation Public safety Healthcare and Life science Media and Entertainment and Others	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global 5G mm Wave Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• 5G mm Wave Market, By Component:

• Hardware
• Solutions and Services

• 5G mm Wave Market, By Bandwidth:

• 24Ghz to 57Ghz
• 57Ghz to 95Ghz
• and 95Ghz to 300Ghz

• 5G mm Wave Market, By Application,:

• Real time surveillance cameras
• AR/VR
• Industry 4.0
• Live Streaming
• Ultra-High-Definition Video
• Transport Connectivity
• Others

• 5G mm Wave Market, By Industry:

• Aerospace and Defense
• Telecom
• Automotive and Transportation
• Public safety
• Healthcare and Life science
• Media and Entertainment
• and Others

• 5G mm Wave Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE