Next Generation Wireless Communication Market Research, Size, Share and Forecast 2020-2030
Market Synopsis
The next-generation wireless communication is expected to grow USD 122.47 Billion at a CAGR of 20.54% by the end of the forecast period (2020-2030).
As per the analysis by the Market Research Future Reports (MRFR), the global next-generation wireless communication market is likely to grow at a significant CAGR during the review period. The increasing adoption of consumer electronics is driving the global next-generation wireless communication market 2020. With the constant developments in the internet and other communication technologies, the communication market has enhanced significantly. Next-generation communication is the most excellent example of such a trend. The global next-generation communication technology is expected to experience a tremendous expansion in the forthcoming period. With technological advancements such as e-commerce, IoT, the next generation wireless market has grown significantly, and the demand has increased considerably. The robust growth in the mobile industry, rising consumer needs, and innovation of new services and products have aided in the expansion of the market at a global level. However, the high cost of development and infrastructure can be an obstruction in the global expansion of the market.
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Key Players
The forefront players in the market of next-generation wireless communication are Qualcomm (U.S.) Huawei (China), AT&T (U.S.), IBM Corporation (U.S.), Cisco Systems (U.S.), NEC (Japan), Netgear Inc. (U.S.), Intel Corporation (U.S.), ZTE Corporation (China), Ericsson (U.S.) and a few others.
Market Segmentation
The global next-generation wireless communication market can be segregated on the basis of application, technology, and region.
On the basis of application, the global next-generation wireless communication market can be segregated into Industrial, Telecommunication, Consumer Electronics, Retail, Automotive, Aerospace & Defence, Healthcare.
On the basis of technology, the global next-generation wireless communication market can be segregated into Digital TV broadcasting, Wireless LAN, 3G, 5G, WiMAX, 4G LTE, Wi-Fi & Bluetooth, and a few others.
On the basis of region, the global next-generation wireless communication market can be segregated into Europe, North America, Asia-Pacific, and the Rest of the World.
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Regional Analysis
The geographical analysis of Europe, North America, Asia-Pacific, and the Rest of the World (RoW) has been performed. As per the analysis, the North American market leads the market of next-generation wireless communication. The market is expanding at a very fast pace owing to the technological development in the region. With the presence of developed countries like Canada and the U.S are dominating the world in the aspect of technology, adoption of technology, and the innovation of technology. Today, North America holds a considerable market share, which has a significant market value. The second position is attained by the European market. It is the second most lucrative market for wireless communication and holds a significant amount of market share. The APAC region has proven to be the fastest-growing region with a promising CAGR. With the presence of developing countries like India, Japan, and China, the APAC region has emerged to be developing at a breakneck pace. The constant development of Asian countries is the primary reason for the expansion of the market in the APAC region.