5G is the up-coming fifth-generation wireless broadband technology which is based on the IEEE 802.11ac standard. 5G connectivity is going to provide better speeds and coverage than other connectivity. The technology operates with a 5 GHz signal and offers a speed up to 1GB per second. The signal technology also provides better coverage and signaling efficiency. The 5G technology is expected to launch by 2020.
The factors contributing to the growth of the 5G technology are the shift toward new broadband technology, growing demand for high data speed, huge network coverage, and stable growth in the mobile data traffic, increasing demand for machine-to- machine communication in organizations and the increasing demand for broadband services over other mobile networks. The continuous demand from subscribers for better mobile broadband experiences is encouraging the growth of the 5G technology market. The market is expected to grow at a fast pace in 2020.
The 5G technology will include LTE advanced and Wi-Fi coupled with new technological solutions to meet the requirements such as machine control and augmented reality. For instance, Huawei a major player in China expects that 5G will provide better speeds up to 100 times faster than 4G connection.
Major Key Players
The key players in the global 5G technology market include- Huawei Technologies Co. Ltd. (China), Nokia Networks (Finland), NEC Corporation (Japan), Ericsson (Sweden), Qualcomm (U.S.), Verizon Fios (U.S.), Orange (France), Broadcom Corporation (U.S.), Mobile TeleSystems (MTS) (Russia), AT&T Inc. (U.S.) and Cisco Systems, Inc (U.S.) among others.
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Geographically, North-America will account for the largest market share in the global 5G technology market, whereas Asia-Pacific is expected to grow at a fast pace over the forecast period, 2017-2023
The global 5G technology market is expected to reach approximately USD 73 million by the end of 2023 with 21% CAGR during forecast period 2017-2023.
Study Objectives of 5G Technology Market:
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global 5G technology market.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).
- To provide country level analysis of the market with respect to the current market size and future prospective.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global 5G technology
Regionally, North-America accounted for the largest market share from countries such U.S. among others. The region is attributed to the increasing number of subscribers and also the Federal Communications Commission has already begun its assessment of the allocation of 5G frequencies.
However, Asia-Pacific region is expected to grow over the forecast period, 2017-2023. The reason is attributed to large consumer base and ongoing initiatives and developments on 5G technology.
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For the purpose of this study, Market Research Future has segmented the market of 5G technology into usability, application and region.
- Enhanced Mobile Broadband
- Massive Internet of Things
- Mission Critical Services
- Radio Access Technologies (RAT),
- High-Speed Package Access (HSPA),
- Global System for Mobile (GSM),
- Worldwide Interoperability for Microwave Access (WiMAX).
- Consumer Electronics
- Home Automation
- Energy & Utility
- Industrial Automation
- Intelligent Buildings and Infrastructure
- Public Safety & Surveillance
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