Following two years of exponential growth, preliminary estimates suggest total 5G NR RAN millimeter (mmWave) revenue growth – including radio and baseband but excluding services – stabilized in the second quarter as the overall revenues were nearly flat on a year-over-year (YoY) basis, reflecting challenging comparisons in the U.S. market and slower than expected growth in the Asia Pacific (APAC) region. Still, even with the slowdown in the quarter, the outlook for mmWave 5G NR remains favorable and on track to reach $1 B to $2 B by 2025.
