5G technology market is Expand at a CAGR of 71.9% 2022-2028

 

The global 5G technology market is set to enjoy a valuation of US$ 9.6 Bn in 2022, and further expand at a CAGR of 71.9% to reach US$ 248.4 Bn by the year 2028.

The 5G technology growth will continue to accelerate due to the continuous developments in telecommunication technologies. The growth of this market is driven by factors such as increasing adoption of Internet of Things (IoT) and smart technologies, growing number of internet users, ongoing digital transformation in telecom, growing demand for wireless communications and increasing investment in telecommunication sector by emerging countries. 5G technology market is nearly 25% of telecommunication market, globally. 

Government Initiatives to Speed up 5G Technology

The US is expected to be the first country to introduce 5G technology, wireless applications and networks, as regulators pave the wave for rapidly growing next-generation services. In North America, enterprises such as AT&T Inc. and Verizon Communication Inc. are coming together to commercial 5G technology. Also, increasing number of initiatives by the government is boosting the growth of 5G technology market.

For instance, in July 2016, the US government launched initiatives worth US$ 400 Mn to conduct research on 5G wireless networks. Also, the Government of Canada is strongly committed to boosting engagement in next-generation networking and 5G technology by opening an innovation ecosystem to accelerate the growth of ICT.

Moreover, in enterprise application, the substantial adoption of advanced technologies, such as the internet of things and cloud solutions, is expected to boost the adoption of 5G technology by transforming the focus from consumer-centric cellular coverage to more machine-centric communications. Moreover, in the beginning of 2018, 5G technology has launched in the specific regions of GCC countries, and large-scale commercial roll outs are expected in commercial areas by 2020.

Dominance of Western Countries in 5G Research Prevails

It has been observed that, in the European region, countries such as Germany, France, and the UK are leading the research that is being conducted for the commercialization of 5G technology. Enterprises such as Deutsche Telekom, Vodafone, and Ericsson are testing various frequency spectrums and advanced technologies to deploy 5G technology efficiently. Moreover, these enterprises have launched customer trails in several geographical areas which will form the base for 5G technology.

In June 2017, Belgium BASE signed a partnership agreement with ZTE Corporation, a telecom equipment provider based in China. The main objective of this partnership is to conduct research on LTE advanced, Internet of things, and 5G technology.

Increasing number of Contracts between Telecommunication Service Providers

According to FMI analysis, providers of 5G technology and telecommunication services are focusing on collaborating with each other to increase their revenue share as well as reach new potential markets. For instance, in July 2018, T-Mobile and Nokia announced a US$ 3.5 Bn agreement to accelerate the deployment of a 5G technology and networks across the U.S.

According to the agreement, Nokia will provide its end-to-end 5G technology, software, and services portfolio to T-Mobile, which will assist the latter in bringing the 5G network to the market for customers in the critical first years of the 5G technology cycle. Some of the other key players in the 5G technology includes Ericsson, Telecom Italia, AT & T, Inc., Huawei Technologies Co., Ltd., Orange S.A., China Mobile Limited, KT Corporation, Qualcomm, and Verizon Communications, Inc.

Key SegmentOn the basis of technology

 

  • 5G RAN
  • 5G NG Core
  • NFVI
  • Routing Backhaul
  • Optical Backhaul
  • Others

On the basis of application

  • Virtual & Augmented Reality
  • Connected Automotive
  • Smart Manufacturing
  • Connected Energy
  • Wireless eHealth
  • Connected Drones
  • Smart Cities
  • Others

On the basis of vertical

  • Manufacturing
  • Automotive
  • Energy & Utilities
  • Transportation & Logistics
  • Public Safety
  • Healthcare
  • Agriculture
  • Others

Read More - https://www.futuremarketinsights.com/reports/5g-technology-market

 

Comments

Post a Comment

Popular posts from this blog

OTT Content Market Research Report 2022 to Global Forecast till 2032

 The global  OTT content market  is anticipated to reach a valuation of US$ 434.98 Bn by 2032, with the market expanding at a prolific CAGR of 17.4% from 2022 to 2032. Predicted to reach an estimated US$ 87.46 Bn in 2022, the target market is likely fueled by a notable surge in market penetration as well as escalating demand for subscription-based services in emerging economies. The heightened popularity of live streaming channels will further aid the growth of the OTT content market during the forecast period. The deep market penetration of 4G and rising 5G infrastructure development across the globe aids the market growth of OTT content. An upsurge in high-speed bandwidth- which is an important criteria for proper functioning OTT services- propels the target market growth. The widespread usage pf high speed internet and smartphones, at competitive prices, amplifies the demand for the OTT content market. The gradual preference for SVOD over conventional TV services will supplement thi
Read more

Digital Transformation in Healthcare Market Trends | Segmentation, Outlook, Industry Report to 2033

 The global  digital transformation in healthcare market  is valued at approximately USD 65.2 billion in 2023. It is anticipated to grow to about USD 253.6 billion by 2033, with a consistent annual growth rate of 14.5% from 2023 to 2033. As digital health platforms like telehealth, mobile health, and wireless technologies become more common in medical facilities and nursing homes, they are providing patients with immediate access to medical care. This has made digital health a widely recognized term in healthcare. The impact of digital technology on various sectors such as public, retail, banking, financial services, and insurance (BFSI), and production is tremendous, but it has evolved into a game-changing technology in the medical field as end users’ reliance on digital health platforms grows. Request for a Sample of this Research Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-708 The emergence of healthcare smartphone applications and incentive proposals by gover
Read more

Flame Arrestor Market 2023 Outlook, Current and Future Industry Landscape Analysis 2030

  The Flame Arrestor market is witnessing robust demand due to increased industrial safety regulations. Growing awareness of explosion prevention measures in various sectors, including oil and gas, chemicals, and manufacturing, is driving the adoption of flame arrestors. The market is poised for expansion as companies prioritize safety solutions to mitigate the risk of fire and explosions. Flame Arrestor Market size was valued at USD 923.8 million in 2022 and is expected to grow to USD 1540.4 million by 2030 and grow at a CAGR of 6.6% over the forecast period of 2023-2030. In today's fast-paced corporate world, where agility and intelligence define success, having a sophisticated understanding of market dynamics is critical. In this environment, our thoroughly prepared Flame Arrestor market research study shines as a beacon of unrivaled wisdom, guiding businesses to strategic brilliance. Our study, crafted with accuracy and predicated on thorough data analysis, doesn't just ski
Read more