The global 5G
Market is predicted to grow at a healthy CAGR by 2022, states the
recent Market Research Future (MRFR) analysis. 5G, simply put, is the 5th
generation mobile network that has been designed to cater to the huge growth in
connectivity and data of the current modern society, the IoT (internet of
things), with innumerable connected devices as well as other forthcoming
innovations.
Flexible duplex
communication, access/backhaul integration, device-to-device communication, and
phantom cell are its different components. 5G technology has wide applications
in different industries, including home automation, healthcare, utility,
energy, retail, automotive, consumer electronics, and others. Improved
bandwidth, connection reliability, faster downloads, decreased latency, increased
website traffic are some of the real benefits of 5G through which people can
work smarter.
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Various factors are
propelling the global 5G market share. According to the recent MRFR report,
such factors include the increasing investments in smart city infrastructure,
opportunities in autonomous vehicles, rise in IoT devices, and increasing use
of edge computing. Additional factors adding market growth include the surging
need for content streaming services, growing demand for low latency
connectivity, especially in industrial automation, increasing use of virtual
networking architecture in telecommunication, growth in mobile data traffic,
and rising M2M connections across different industries.
On the contrary,
challenges in small cell deployments & implementation of fiber backhaul,
coupled with the delay in the 5G mobile network launches due to the on-going
COVID-19 outbreak, may impede the global 5G industry growth over the forecast
period.
Market
Segmentation
The MRFR report
highlights an inclusive segmental analysis of the global 5G market based on
components and applications.
By components, the global
5G market is segmented into flexible duplex communication, access/backhaul
integration, device-to-device communication, and phantom cell.
By applications,
the global 5G market is segmented into home automation, healthcare, utility,
energy, retail, automotive, consumer electronics, and others. Of these, the
consumer electronics segment will lead the market over the forecast period.
Regional
Analysis
Based on the
region, the global 5G market report covers the recent trends and growth
opportunities across the Asia Pacific (APAC), North America, Europe, & the
Rest of the World (RoW).
Of these, North
America will have the lions share in the market over the forecast period.
Advanced IT infrastructure, coupled with the early deployment of 5G services,
is adding to the global 5G market growth in the region.
The global 5G
market in Europe is predicted to hold the second-largest share over the
forecast period. Technological advances, coupled with the presence of large
carriers and vendors who are making huge investments to launch 5G technology,
are adding to the global 5G market growth in the region. The UK and Germany
hold the utmost share in the market as they are involved actively in testing 5G
technology.
The global 5G
market in the APAC region is predicted to have healthy growth over the forecast
period. The penetration of smartphones, advances in the IT sector, industrial
automation, and development of 5G in China and South Korea are adding to the
global 5G market growth in the region.
The global 5G market
in the RoW is predicted to have steady growth over the forecast period.
Key Players
Eminent players
profiled in the 5G market report include Bharti Airtel Limited (India),
Vodafone Group PLC (UK), NTT DOCOMO, Inc. (Japan), Huawei Technologies Co. Ltd.
(China), China Mobile Ltd. (China), Alcatel-Lucent (France), LM Ericsson
(Sweden), AT&T Inc. (U.S.), and Verizon Wireless (U.S.), among others.
Industry players have incorporated strategies such as mergers, acquisitions,
collaborations, new product launches, extensive R&D activities, strategic
alliances, geographic launches, contracts, partnerships, and others to stay at
the forefront.
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