5G Technology Market – Latest Research & Global Forecast from 2016 to 2024 | Hexa Research

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5G Technology Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2016 To 2024

5G elaborately called as 5th generation wireless systems indicate the next phase of mobile telecommunication standards beyond the 4G standards. It includes faster access to the internet compared to 4G. The mentioned requirements are defined by the mobile network providers which include for tens of thousands of users, data rates of tens of MBPS (megabytes per second) must be supported; improved coverage; efficiency of mobile signals must be enhanced; in comparison to 4G technology spectral efficiency must be enhanced.

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The mobile service providers believe that 5G services will be rolled out by 2020 to meet consumers and business demands. Also, new services such as internet of things (IoT), lifeline communication in case of disasters and broadcast like services must be required to provide faster speeds. Vendors expect that performances such as latency in order of 1 ms and to unable battery run IoT devices for up to ten years of life.

Growing adoption of mobile broadband and demand for I pads, tablets and advanced smartphones is expected to drive the growth of the 5G technology market. Superior data transfer rates escorted by less power consumption is liable in impacting demand positively in coming days.

Internet speed between 10 Gbps to 100 Gbps is offered by this technology, and it enables users to watch live streams, matches and events over the World Wide Web without buffering by using steerable antennae. The demand growth is expected to hinder owing to technologies such as IPV6 protocols and millimeter wave propagation.

Based on technology, the market is segmented into the global system for mobile, high-speed package access, worldwide interoperability for microwave access and radio access technology. The RAT system needs to be completely redesigned so as to accommodate new mobile paradigm of substantially high capacity and fast speed.

Based on application, the market is segmented into individual users, government & utilities, defense & military, offices, retail sector and healthcare sector. Government & utilities are considered to be the largest application segment for this technology, with massive investment in research & development so as to bring in the technology to the earliest.

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The U.S. 5G market is anticipated to foresee massive growth over the predicted timeframe, mainly on account of increasing number of subscriptions. The FCC has already begun a study on the feasibility of the frequency for 5G. Countries such as China, Korea and India are expected to contribute majorly owing to ongoing developments and initiatives. UK government will establish 5G strategy by 2017. In the recent budget, the government has placed prominence on the importance of mobile spectrum and prepared the country for the arrival of this technology.

In the Chinese market, there is an increasing need for faster internet speed, and this is expected to drive the market. Even in India, the government has outlay USD 5.4 million over a period of three years for the purpose of advance research and develops solutions in various areas of 5G technology. Industry players are focusing on introducing modern and new technologies to achieve competitive advantage. Also, different countries such as Japan are planning to showcase their innovation during the 2018 winter Olympics and summer Olympics of 2020.

Key players in the industry include Nokia Networks, Samsung Group, Verizon Communications, AT&T, Fraunhofer-Gesellschaft, Alcatel-Lucent, Orange, NTT DoCoMo, Qualcomm, Telefonica and Huawei Technologies. On November 2015, Nokia Networks is preparing for the future with 5G connected industry forum in Germany with an aim to set up or take down new products or entire factories virtually. Also, Ericsson in 2014 signed a contract with SK Telecom Co. Ltd for research and development on 5G technologies.

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