PUNE, India, Aug. 29, 2019 /PRNewswire/ -- Internet of things (IoT) industry is rapidly evolving, which is driving the global 5G infrastructure market at a tremendous rate. Fortune Business Insights in a new report, titled "GLOBAL 5G INFRASTRUCTURE MARKET, SIZE, SHARE AND GLOBAL TREND BY COMPONENT (FIBERS, CABLES, ANTENNA, TRANSCEIVER, WIRELESS BACKHAUL, MODEM, ROUTER), COMMUNICATION INFRASTRUCTURE (SMALL CELL, MACRO CELL, RADIO ACCESS NETWORK (RAN), DISTRIBUTED ANTENNA SYSTEM (DAS), AND GEOGRAPHY FORECAST TILL 2026" suggests that the global market will rise at a whopping CAGR of 76.29% during the forecast period, 2018-2026. There is a skyrocketing demand for high speed internet among end-use industries. 5G infrastructure plays a crucial role while deploying high speed internet service. The analysts in the report predict that the global market is anticipated to reach US$ 50,640.4 Mn by 2026, as against US$720.6 Mn in 2018.
"5G technology is expected to positively influence connected agriculture, smart cities, machine-to-machine communication, and home automation," says a lead analyst at Fortune Business Insights. "Moreover, some of the prominent challenges faced by organizations with regards to improving reliability, performance, and connectivity can be resolved through 5G infrastructure," he added. 5G connectivity offers several advantages such as higher efficiency and high-spped data transmission than 3G or 4G networks.
Increasing Investments in 5G Technology in North America Contributes to the Growth
From a geographical standpoint, North America is anticipated to maintain its dominance in the global 5G infrastructure market. Moreover, the market covered a value of US$ 266.0 Mn in the year 2018. Increasing number of infrastructure projects in the U.S. is the primary factor responsible for driving the market in North America. Early adoption of advanced technologies such as automation, internet of things (IoT) among others can give significant impetus to the market in North America. The growth in this region is also attributable to the rising demand for on-demand video services and rising trend of smart cities. Presence of prominent players in the U.S. and government-backed support in the country creates ample growth opportunities for the market.
The market in Europe is expected to grow at a considerable rate owing to the presence of well-established 5G infrastructure providers. Countries such as the U.K and Europe are currently involved in testing 5G technology. For instance, Vodafone is planning to roll out 5G technology tests in Birmingham, Manchester, Liverpool, Glasgow, Bristol, London, and Cardiff. In 2018, the market in Asia Pacific was valued at US$ 162.1 Mn and is expected to grow at a substantial rate in the forthcoming years. The growth is ascribable to the rising support from government and private industries.
Ever-evolving 5G Infrastructure Sees an Upward Trajectory in Various Applications
Rising demand for mobile bandwidth among consumers worldwide is augmenting demand for 5G infrastructure network. With the growing trend of smart city, demand for IoT connectivity sensor devices is increasing. This, in turn, is contributing to the development of 5G infrastructure. Some of the emerging applications such as self-driving cars and augmented reality (AR) also support the development of 5G infrastructure. All these factors are expected to drive the market in the forecast years.
The burgeoning demand for smartphones, laptops, and computers and other connected devices is creating demand for advanced network alternatives. Under Industry 4.0, IoT devices, vehicles, equipment, and machinery are connected to each other. This requires high speed internet coverage and network solution. The current 4G network cannot fulfil all the requirements of advanced technologies that require high-speed internet network. Here, 5G infrastructure comes into existence as radio access technology can overcome the challenges faced by 4G technology. Furthermore, distributed antenna systems of 5G infrastructure offer several advanced services. Spurred by these factors, the global 5G infrastructure market is expected to grow at a rapid rate in the forecast period.
HPE, Intel, Qualcomm are Among the Leading Players in the Market
In July 2018, Nokia joined hands with T-Mobile to build a 5G wireless network infrastructure. This multi-year agreement was signed for a $3.5 billion. The report profiles some of the key players in the global 5G infrastructure market. Some of the players include AT&T, Hewlett Packard Enterprise (HPE), Fujikura.co, Intel Corporations, Qualcomm Technologies, Belden, and Ericsson. Among these, Ericsson announced the launch of an advanced 5G standalone New Radio (NR) software in June 2019. This software aims to offer better coverage to organizations.
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