Market Highlights
The positive impact on this sector is the transition to modern digital technologies, massive network coverage, increased demand for fast data rates and steady growth in mobile data traffic, increased demand for machine-to-machine connectivity in enterprises and increased demand for broadband services in other mobile networks.
The data experts at Market Research Future Reports (MRFR) have thoroughly scrutinized the global 5G market with a prodigious CAGR of 70.83%, valuing more than USD 700 billion by the end of 2025. The unprecedented attribute of 5G is estimated to be the most essential factor provoking the expansion of the global 5G technology marker 2020. The demand for ultra-fast data speed is intensifying which is convincing the telecom giants to augment their investment in the developed wireless technologies such as 5G. Further, the robust developments being implemented in IoT is estimated to fuel the market for 5G service. Also, the development of smart cities in various countries is projected to be another crucial factor ensuring the magnification of the 5G demand, and market. Benefits such as robust speed, consistent network, and efficient wireless range are likely to strengthen the market growth during the assessment period. But, the expenses associated with the development of 5G network is estimated to be a major obstacle in market expansion. Also, the lack of insufficient developed infrastructure is another hurdle for expanding the global 5G technology market.
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Additionally, subscribers' continued demand for better mobile broadband experiences can stimulate the growth of the market for 5G technology. Booming mobile broadband adoption as well as increasing machine-to-machine connectivity in organizations is presumed to fuel the global market size of 5 G technology in the coming years. Numerous features offered by this technology are high resolution, quick action monitoring tools, accurate traffic statistics and supporting nearly 65,000 connections. Surely, these features will boost the appeal of 5 G technology and will help drive market development.
Competitive Analysis
The major market players operating in the global 5G technology market as identified by MRFR are Cisco Systems, Inc., Telefonaktiebolaget LM Ericsson, Verizon, Huawei Technologies Co. Ltd., Samsung, MediaTek Inc., Qualcomm Technologies Inc., ATT Inc., China Mobile Limited., NTT DOCOMO, Inc., and Nokia.
Regional study
The global business regional overview was performed in four major regions, namely Asia Pacific, North America, Europe, and the rest of the world.
North America has the largest market share owing to the United States (U.S.) among all regions. That number of subscribers and the Federal Communications Commission's ambitious evaluation of the allocation of 5 G frequencies has guided market growth in that region. Rising cellular M2 M links, high demand for on-demand video services, and high demand for autonomous cars can also contribute to this region's market size.
The Asia-Pacific region, on the other hand, is expected to rise steadily over the forecast period. The reason for this is the broad user base and ongoing 5 G technology programs and innovations. 5 G technology is thriving due to funding from local government, along with the potential for massive demand for 5 G services. Beijing (China), for example, is preparing to implement 5 G on a broad commercial scale by 2020, and China's top manufacturers are working to reach that timetable. In addition, a good portion of the required radio frequencies was also distributed by the Chinese government. Hence China profits from robust cooperation between government and manufacturers with respect to the demand for 5 G technology.
Throughout the Europe zone, public and private sectors are taking aggressive steps in the area of 5 G technology. For example, in order to track the progress of the European 5 G integration goals for a competitive Digital Single Market (DSM) closely, proposals are being made for the establishment of the European 5 G observatory by 2025.
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Segmentation:
The global 5G technology market can be distinguished on the grounds of services, network technology, communication infrastructure, application, chipset type, and region.
On the basis of services, the global 5G technology market can be distinguished into Professional Services and Managed Services
On the basis of network technology, the global 5G technology market can be distinguished into Network Function, Software-Defined Networking (SDN), Virtualization (NFV), Fog Computing (FC), and Mobile Edge Computing (MEC).
On the basis of communication infrastructure, the global 5G technology market can be distinguished into macro cell, distributed antenna system (DAS), small cell, and radio access network (RAN).
On the grounds of application, the global 5G technology market can be distinguished into energy and utilities, automotive, healthcare, industrial automation, retail, consumer electronics and others.
On the basis of chipset type, the global 5G technology market can be distinguished into radio frequency integrated circuit (FRIC), application-specific integrated circuit (ASIC), field programmable gate array (FPGA), and millimeter wave technology chips.
On the basis of region, the global 5G technology market can be distinguished into North America, Asia-Pacific, Europe, and the Rest of the World (RoW).
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and about what action to take based on these aspects.
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