BANGALORE, India, Feb. 19, 2020 /PRNewswire/ -- The analysis of the 5G technology market offers an in-depth dive into examination of the equipment, applications, and services essential to the implementation of 5G technology.
The global market for 5G technology is projected to reach USD 5.53 Billion in 2020, reaching USD 667.90 Billion by 2026, showing a CAGR of 122.3 percent from 2021 to 2026.
The introduction of 5G satellite communications networks and the development of strategic partnerships with network integrators in developing economies create attractive growth opportunities for the 5G technology industry. The 5G technology market is segmented on the basis of offering, connectivity, application, end-user and region. The advancements in 5G technology are driven by multiple wireless connectivity features that are broadly classified into enhanced mobile broadband (eMBB), ultra reliable and low latency communications (URLLC), and massive machine-type communications (mMTC)
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FACTORS INFLUENCING THE 5G TECHNOLOGY MARKET SIZE
- The increasing number of IoT devices and edge computing are one of the major drivers for the 5G market. It is expected that the increasing demand for edge computing coupled with increasing amounts of data generated by IoT devices will drive demand for higher data speeds. 5G technologies are expected to help deliver unparalleled data speeds while improving the overall user experience and enhancing data processing capabilities in real-time.
- It is predicted that video delivery will fuel exponential growth in media and entertainment centers. This streaming service demand has further driven worldwide data usage levels. Streaming services face challenges in delivering interrupting content to improve user engagement across the board. It is predicted that 5G technology would improve data speeds while enhancing the overall user experience.
- The autonomous vehicle industry is experiencing rapid growth. The sheer amount of data produced by self-driving cars has forced innovative technologies to be introduced that produce, capture, and process massive amounts of data. 5G communication is anticipated to allow the transfer and processing of vast amounts of data more efficiently while improving the overall performance of automated vehicles. This is estimated to further drive growth in autonomous long-distance transport, influencing the market share of the 5G technology.
REGION WISE 5G TECHNOLOGY MARKET SHARE ANALYSIS
Asia-Pacific would be the world's largest contributor with USD 2.20 Billion in 2020 and is expected to hit USD 329.09 Billion by 2026, showing a CAGR of 130.7 percent over the forecast period.
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5G TECHNOLOGY KEY MARKET SEGMENTATION:
- Enhanced mobile broadband (eMBB)
- Ultra-reliable low latency communication (URLLC)
- Massive machine-type communication (mMTC)
- Connected vehicles
- Monitoring & tracking
- Smart surveillance
- VR & AR
- Enhanced video services
- Energy & Utilities
- Transportation & Logistics
- Media & Entertainment
- Deutsche Telekom AG
- Huawei Technology
- Orange S.A
- Qualcomm Inc
- Telecom Italia
- Intel Corporation
KEY BENEFITS FOR 5G TECHNOLOGY MARKET:
- This study includes analytical depiction along with the current 5G technology market trends and future estimations to determine the imminent investment pockets.
- The report presents information regarding the key drivers, restraints, and opportunities which are influencing the global 5G technology market growth.
- The current market is quantitatively analyzed from 2020 to 2026 to highlight the financial competency of the 5G technology industry.
- Porter's five forces analysis illustrates the potency of the buyers and suppliers in the global 5G technology market.
● 5G INFRASTRUCTURE MARKET
In 2017, the global market for 5G infrastructure was valued at USD 371.4 Million and is projected to reach USD 58,174.6 Million by 2025, growing at a CAGR of 95.8 percent between 2018 and 2025.
Factors such as increased adoption of M2M / IoT links between different industries and increased demand for mobile broadband services globally contribute to the development of the global market for 5G networks.
5G is the next-generation wireless communication technology. This operates under a wireless high-frequency technology band for seamless connectivity and networking. The 5G infrastructure market is strategically segmented into communication infrastructure, network technology, chipset type, application, and region to provide an in-depth analysis.
● 5G MARKET
The global market size of 5G will hit USD 4296 Million by 2020 and is expected to grow exponentially by 2024, with a CAGR of 56.7 percent by 2020-2024.
5G is the fifth generation of digital cellular wireless technology that began broad deployment in 2019. Increasing demand for mobile network bandwidth and connectivity for IoT and sensor apps for smart city applications, along with emerging technologies such as Augmented Reality (AR) and self-driving vehicles, supports 5G market growth.
The 5G market is strategically segmented into three based on their types (mMTC, URLLC, eMBB, and FWA), application(Smart Cities, Connected Factories, Smart Buildings, Connected Vehicles, Connected Healthcare, Connected Retail, Smart Utilities, Broadband, and Voice) and region.
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● SMALL CELL 5G NETWORK MARKET
Small cells are low-frequency radio access points and are equipped with short-range wireless transmission systems to cover a small geographic area. The market size of the small cell 5G network was valued at USD 344 Million in 2018 and is projected to reach USD 6876 Million by 2026, growing at a CAGR of 45.3 percent between 2019 and 2026.
North America dominated the market for small cell 5G networks in 2018 and is expected to remain dominant over the forecast period. This is due to the increase of strategic trails in this area to introduce 5G technology and equipment.
● 5G TESTER MARKET
The 5G Tester market in 2018 was estimated at USD 548.4 Million and is expected to hit USD 1442.8 Million by 2025, at a CAGR of 14.8 percent over the forecast period.
According to market research, Asia-Pacific has the largest global export quantity and suppliers on the 5G Tester industry, while North America was the second-largest 5G Tester market based on sales volume 2018.
This report presents the worldwide 5G Tester market size (value, production, and consumption), splits the breakdown by manufacturers, area, type, and application (data status 2014-2019 and forecast to 2025). This study also looks at market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risk and entry barriers, sales channels, distributors and Porter's Five Forces Analysis
● 5G APPLICATIONS AND SERVICES MARKET
This study focuses on the status of global 5G applications and services, future projections, opportunities for growth, key industry, and key players. The study goals are to present the development of 5G Applications and Services in the U.S., Europe, and China.
● 5G CHIPSET MARKET
A 5G chipset is a set of electronic components in an integrated circuit known as a "Data Flow Management System" that manages the data flow between the processor, memory, and peripherals.
This study focuses on the status of the Global 5G Chipset, future outlook, growth opportunity, key industry, and key players. The goal of the study is to present the production of the 5G Chipset in the United States, Europe, and China.
● 5G BASE STATION MARKET
This study studies the market size of 5G Base Stations by participants, countries, product types and end industries, historical data for 2014-2018 and forecast data for 2019-2025; this report also studies the global competitive landscape, market dynamics and patterns, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
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