The data experts at Market Research Future Reports (MRFR) have thoroughly scrutinized the global 5G technology market with a prodigious CAGR of 70.83%, valuing more than USD 700 billion by the end of 2025. The unprecedented attribute of 5G is estimated to be the most essential factor provoking the expansion of the global 5G technology marker 2020. The demand for ultra-fast data speed is intensifying which is convincing the telecom giants to augment their investment in the developed wireless technologies such as 5G. Further, the robust developments being implemented in IoT is estimated to fuel the market for 5G service. Also, the development of smart cities in various countries is projected to be another crucial factor ensuring the magnification of the 5G demand, and market. Benefits such as robust speed, consistent network, and efficient wireless range are likely to strengthen the market growth during the assessment period. But, the expenses associated with the development of 5G network is estimated to be a major obstacle in market expansion. Also, the lack of insufficient developed infrastructure is another hurdle for expanding the global 5G technology market.
On the other hand, the global 5G technology market is estimated to show a significant change owing to the spread of COVID-19. The data experts at MRFR are evaluating the aftermath of pandemic. We will provide an impact analysis on COVID-19.
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The global 5G technology market can be distinguished on the grounds of services, network technology, communication infrastructure, application, chipset type, and region.
On the basis of services, the global 5G technology market can be distinguished into Professional Services and Managed Services.
On the basis of network technology, the global 5G technology market can be distinguished into Network Function, Software-Defined Networking (SDN), Virtualization (NFV), Fog Computing (FC), and Mobile Edge Computing (MEC).
On the basis of communication infrastructure, the global 5G technology market can be distinguished into macro cell, distributed antenna system (DAS), small cell, and radio access network (RAN).
On the grounds of application, the global 5G technology market can be distinguished into energy and utilities, automotive, healthcare, industrial automation, retail, consumer electronics and others.
On the basis of chipset type, the global 5G technology market can be distinguished into radio frequency integrated circuit (FRIC), application-specific integrated circuit (ASIC), field programmable gate array (FPGA), and millimeter wave technology chips.
On the basis of region, the global 5G technology market can be distinguished into North America, Asia-Pacific, Europe, and the Rest of the World (RoW).
The global 5G technology market is projected to augment at a phenomenal speed during the assessment period. A geographical research on North America, Asia-Pacific, Europe, and the Rest of the World (RoW) has been performed. As per the research, North America is likely to acquire the apex rank in terms of market strength. North America is estimated to capture two-third of the global 5G technology market by the end of 2020. Countries such as the US and Canada are witnessing a surge in the demand for 5-G enabled devices. On the other hand, the APAC region is projected to acquire the second position during the assessment period. The APAC market is likely to value USD 17, 55 billion, with a CAGR of 74.6% during the assessment period from 2018 to 2025.
It is to be noted that the market dynamic is estimated to change owing to the spread of COVID-19 during the assessment period.
The renowned organizations of the global 5G technology market are Verizon, Huawei Technologies Co. Ltd., Telefonaktiebolaget LM Ericsson, Qualcomm Technologies Inc., China Mobile Limited., Samsung, MediaTek Inc., Cisco Systems.
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5G Technology Market: By Communication Infrastructure (Small Cell, Macro Cell, Radio Access Network and Distributed Antenna System), By Services (Professional Services and Managed Services), By Network Technology (Software-Defined Networking, Network Function, Virtualization, Mobile Edge Computing and Fog Computing), By Chipset Type ( Application-Specific Integrated Circuit (ASIC), Radio Frequency Integrated Circuit (FRIC), Millimeter Wave Technology Chips and Field Programmable Gate Array (FPGA) and By Application (Automotive, Energy and Utilities, Healthcare, Retail, Industrial Automation, Consumer Electronics and Others) and Region – Forecast Till 2025