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Market Research Future Insights:
According to MRFR analysis, 5G Technology market is expected to register a CAGR of 40.2% from 2022 to 2030 and hold a value of over USD 1799.8 billion by 2030. The 5G technology market refers to the global marketplace for products and services related to fifth-generation (5G) wireless communication technology. 5G is the latest generation of mobile network technology, succeeding 4G/LTE, and offers significant improvements in terms of speed, capacity, latency, and connectivity compared to its predecessors. This includes the hardware and software components required to build and operate 5G networks, such as base stations, antennas, routers, and network management systems. The market includes 5G-enabled smartphones, tablets, laptops, wearables, and other consumer electronic devices that can connect to and utilize 5G networks. These devices are equipped with 5G modems or chipsets to support high-speed wireless connectivity.
5G Technology Market Competitive Analysis:
The list of leading contributors across the global market for 5G technology industry includes companies such as:
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5G Technology Report Scope:
| Parameter | Details |
| Revenue Forecast in 2030: | USD 1799.8 Billion |
| Growth Rate: | CAGR of 40.2% from 2022 to 2030 |
| Forecast Period: | 2022 -2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
5G Technology Market Segment Analysis:
Among all the communication types, the enhanced Mobile Broadband (eMBB) segment is predicted to secure the leading position across the global market for 5G technology during the assessment timeframe. The prime focus of 5G network operators is on offering better broadband capabilities for applications, like uninterrupted video calls, UHD video, AR/VR, and high-speed cloud-based gaming, which is the primary parameter supporting the segment’s growth. The primary stage of the rollout is anticipated to concentrate on a 5G wireless non-standalone deployment model. eMBB offers exceptionally high data speeds for commercial and residential use. Therefore, eMBB is anticipated to serve various use cases, such as virtual meetings, 4K video access, and in-vehicle infotainment, thus boosting the segment’s growth. On the other hand, the massive Machine-Type Communications (mMTC) segment is likely to exhibit the maximum CAGR over the assessment timeframe.
Among all the verticals, the enterprise segment is predicted to secure the top position across the global market for 5G technology over the coming years. The main parameter supporting the segment’s growth is the substantial investments by leading participants in the latest technologies for communication. Furthermore, the rising demand for higher data speeds for commercial and residential applications will likely catalyze the segment’s growth over the assessment era. 5G services are expected to offer universal broadband access between homes and offices, promoting remote discussion with experts and lower business travel. Furthermore, the increasing requirement for better broadband capacity for virtual business meetings is also predicted to influence the segment’s growth over the coming years.
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Regional Analysis:
North America has been at the forefront of 5G technology adoption. The United States, in particular, has been actively deploying 5G networks and investing in infrastructure. Major telecom companies have already launched 5G services in various cities across the country. The market is expected to witness significant growth in sectors such as healthcare, manufacturing, automotive, and entertainment.
Europe has also been actively rolling out 5G networks in several countries. Countries like the United Kingdom, Germany, France, and Italy have made significant progress in 5G implementation. The European Union has set ambitious targets for 5G deployment to support various industries and drive economic growth. The market is expected to see growth in areas such as autonomous vehicles, smart cities, and industrial automation.
Asia-Pacific is a key region for 5G technology market growth. Countries like China, South Korea, and Japan have made substantial investments in 5G infrastructure and have already launched commercial 5G services. China, in particular, is leading the way in terms of the number of 5G subscribers and network coverage. The market in Asia-Pacific is expected to witness strong growth driven by sectors like manufacturing, healthcare, and transportation.
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