5G – Brief Insights
5G is an abbreviation for fifth generation wireless systems. It is one of the latest additions the world of internet. They will be deployed since this year. The idea of this concept came into existence ten years ago i.e. in 2008. In the April of that year NASA joined hands with Geoff Brown and Machine to Machine Intelligence (M2Mi) to devise 5G communication technology. Since the time the idea was introduced the players in the telecommunication were eagerly waiting for it to be announced. Now that it has been actually introduced the demand for the same has skyrocketed. This is one of the major factors due to which the global 5G market is gaining a lot of traction.
In simple terms 5G communication is one of the best and most efficient forms of communication. They millimeter wave bands like 26,28, 38 and 60 GHz. One of the most special feature of this technology is that it provides the performance rate of 20 gigabits per second. This value is up to ten times better than the conventional forms of telecommunication networks.
In short, 5G has taken the telecommunication industry by the storm and its craze is not going to subside anytime soon. Owing to this fact, it can be pretty much concluded that the future looks bright for this market.
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Market Synopsis
At present, the players in the telecommunication industry are looking for innovative technologies to improve their business and enhance their conversion rates. Thanks to this fact one can very easily conclude that the global 5G market will tread forward at Godspeed. The market is all set to tread forward at an impressive CAGR rate. During the forecast period of 2018-2023, the market’s revenue is expected to double up.
There are a whole lot of growth drivers that are behind the success and development of this market. Increased ratio of technological advancements in the last few years happens to be a major growth booster for this market. Furthermore, the demand for better communication network further fosters the development of the industry.
An all-time high demand for an improved mobile internet experience and increased adoption of smart phones and other smart devices can be listed as additional growth factors for the market.
However, the market may come across minor hindrances like improper infrastructure and inadequate spectrum. Although, experts suggest that with passing years the industry will cope with such difficulties.
Market Segmentation
The worldwide 5G Market has been separated into four equal parts. They can be listed as applications, intended audiences, regions and components.
On the basis of applications, the market has been separated into automotive, healthcare, consumer electronics, home automation, energy, utility and retail.
On account of intended audiences, the market comprises of sub-segments like chipset vendors, government organizations, system integrators, OEMs, integrated device manufacturers, research/consultancy firms, commercial banks, network operators and user equipment manufacturers.
Region-wise the market has its reach across various parts of the world like Europe, North America, Asia Pacific and Rest of the World.
Lastly, based on components the market has been segregated into flexible duplex communication, phantom cell, device-to-device communication and access/backhaul integration.
Key Players
The prominent players in the 5G Market are – Verizon Wireless (U.S.), AT&T Inc. (U.S.), LM Ericsson (Sweden), Alcatel-Lucent (France), China Mobile Ltd. (China), Huawei Technologies Co. Ltd. (China), NTT DOCOMO, Inc. (Japan), Vodafone Group PLC (UK), Bharti Airtel Limited (India) among others.
Regional Analysis of 5G Market:
The regional analysis of 5G market is being studied for region such as Asia pacific, North America, Europe and Rest of the World. North America region is expected to dominate the 5G market owing to the rapid technological advancements early deployment of 5G technology. Europe is also expected to gain a major in the 5G market during the forecast period. Asia-Pacific region as a whole has a steady pace of progress in 5G market but it has been observed that countries like Korea and Japan are growing significantly in the 5G market.
The study indicates that companies like Nokia, Ericsson are partnering different companies in India like Airtel and BSNL for 5G network infrastructure. Therefore the study reveals that 5G market is expected to deploy worldwide by the end of forecast period.
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Innovations
The introduction of 5G has led to many significant innovations, amongst one of the major ones happens to be the introduction of 5G applications like Haptic Internet, Robotics, IoT and virtual reality.
Intended Audience
- System Integrators
- network equipment vendors
- OEMs
- Infrastructure vendors
- chipset vendors
- commercial banks
- integrated device manufacturers
- Network operators
- software/application providers
- user equipment manufacturers
- network infrastructure integrators
- Government Organizations
- Research/Consultancy firms
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