5G Technology Market: 2018 Global Analysis By Opportunities, Size, Share and Growth Factors

Market Highlights

The global 5G technology market will increase at a CAGR of 70.83% between 2020 and 2025. Going by the projection, the market is likely to reach a valuation of USD 729.97 Bn. 5G technology is anticipated to replace existing wireless technologies in the forthcoming years.

The technology’s robust attributes meet the dynamic needs of the constantly evolving wireless communication landscape. In recent years, there has been significant developments in cellular technology owing to the increasing demand for ultra-fast data speeds with low latency rates. The emergence of the fifth-generation network technology has allowed integration of technologies such as augmented and virtual reality for 3D and ultra-high definition videos and haptic feedback applications. Such developments necessitate high-speed connectivity, which creates market opportunities for 5G technology. Moreover, the growing demand for mobile broadband services and the growing application of IoT across industry verticals is also expected to have a positive impact on the market.

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Segmentation:

The report has been segmented into four key dynamics for the convenience;

By Usability : Enhanced Mobile Broadband, Mission Critical Services, and Massive Internet of Things among others.

By Technology: Radio Access Technologies (RAT), Wi-Fi, High-Speed Package Access (HSPA), Global System for Mobile (GSM), Worldwide Interoperability for Microwave Access (WiMAX), and others.

By Application: Healthcare, Consumer Electronics, Home Automation, Energy & Utility, Automotive, Industrial Automation, Intelligent Buildings & Infrastructure, Public Safety & Surveillance, Retail, and others.

By Regions : Europe, North America, PAC and Rest of the World.

Regional Analysis:

North America region dominates the global 5G technology market with the largest share owing to the increasing number of subscribers and assessment of the allocation of 5G frequencies by the Federal Communications Commission (FCC). Moreover, the rise in application areas of this technology coupled with its large-scale adoption in telecommunications is driving the market in this region. The US leads the regional market, backed by the high per capita income.

The 5G technology market in the European region is flourishing mainly due to the proliferation of smartphones led by the resurging economy in the region. Also, the growing investments in the development of technology are paying off well driving the growth of the regional market. Also, the presence of prominent players and the investments made by them in R&D activities, in turn, foster the growth of the market to an extent.

The Asia Pacific region is growing steadily, emerging as a promising market. Factors such as the technical expertise rendered by the existing key players coupled with increased industrialization are driving the growth of the regional market. Moreover, the rising demand for technology in emerging countries such as China, Taiwan, and India is propelling the 5G technology market in the APAC. Also, factors such as large consumer base and ongoing initiatives and developments on 5G technology act as a tailwind pushing the growth of the regional market.

The highly competitive global 5G Technology market appears to be fragmented characterized by the well-established players with their strong presence in the international market adorn alongside the small-scale players and new entrants forming a competitive landscape in the market.

Key players operating in the market are investing substantially in transforming the consumer and business landscape in the future. Matured players incorporate strategic initiatives such as collaboration, partnership, acquisition, product & technology launch, and expansion to gain a competitive edge staying ahead in this market.

Key Players:

Key players leading the global 5G technology market include Nokia Networks (Finland), Huawei Technologies Co. Ltd. (China), NEC Corporation (Japan), Qualcomm (U.S.), Ericsson (Sweden), Verizon Fios (U.S.), Broadcom Corporation (U.S.), Orange (France), Mobile TeleSystems (MTS - Russia), Cisco Systems, Inc (U.S.), and AT&T Inc. (U.S.) among others.

Industry/ Innovation/ Related News:

December 21, 2018 – Nokia Corporation (Finland), a multinational telecommunication, information technology, and consumer electronics company and Ooredoo QSC (Qatar), an international telecommunications company announced their collaboration to set up the first 5G-ready Technology Centre in Myanmar.

The Nokia Technology Centre is equipped with end-to-end radio, any haul transport, and a core network solution supporting the latest 5G technology in addition to 4G/3G/2G.

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Ehtesham is writer and blogger. He holds a master’s degree in Mba from Pune University, and works as a content writer at Market Research Future. He has avid interest in writing news articles across different verticals