The crippling effect of the global COVID-19 pandemic has detained the growth potential of the 5G technology market. This MRFR report on the 5G technology market indicates critical pointers that may emerge as growth hubs in the future. Moreover, in-depth data analysis is estimated to offer a clearer growth perspective to market participants.
In its research report, Market Research Future (MRFR), emphasizes that the 2020 global 5G technology market is projected to expand exponentially over the review period, ensuring a significant market valuation of USD 700 trillion by 2025, and a healthy CAGR of 70.83 per cent over the review.
Drivers and constraints
The positive impact on this sector is the transition to modern digital technologies, massive network coverage, increased demand for fast data rates and steady growth in mobile data traffic, increased demand for machine-to-machine connectivity in enterprises and increased demand for broadband services in other mobile networks.
Additionally, subscribers’ continued demand for better mobile broadband experiences can stimulate the growth of the market for 5G technology. Booming mobile broadband adoption as well as increasing machine-to-machine connectivity in organizations is presumed to fuel the global market size of 5 G technology in the coming years. Numerous features offered by this technology are high resolution, quick action monitoring tools, accurate traffic statistics and supporting nearly 65,000 connections. Surely, these features will boost the appeal of 5 G technology and will help drive market development.
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By Communication Infrastructure, the market has been segmented into Macro Cell, Small Cell, Radio Access Network (RAN), and Distributed Antenna System (DAS). The small cell segment is poised to remain a highly profitable segment over the review periods.
By Services, the market has been segmented into Professional Services and Managed Services. The professional services segment is likely to observe a substantial growth over the review period.
By Network Technology, the market has been segmented into Network Function, Virtualization (NFV), Mobile Edge Computing (MEC) Software-Defined Networking (SDN), and Fog Computing (FC). The network function virtualization segment is slated to remain highly attractive over the assessment period.
By Chipset Type, the market has been segmented into Radio Frequency Integrated Circuit (FRIC), Application-Specific Integrated Circuit (ASIC), Millimeter Wave Technology Chips, and Field Programmable Gate Array (FPGA). The ASIC segment is projected to uphold its leading position over the forecast period.
By Application, the market has been segmented into Retail, Automotive, Energy and Utilities, Healthcare, Consumer Electronics, Industrial Automation, and others. The consumer electronics segment is poised to hold its leading position by 2025. The segment is expected to experience a CAGR of 119.80% over the forecast period.
The global business regional overview was performed in four major regions, namely Asia Pacific, North America, Europe, and the rest of the world.
North America has the largest market share owing to the United States (U.S.) among all regions. That number of subscribers and the Federal Communications Commission’s ambitious evaluation of the allocation of 5 G frequencies has guided market growth in that region. Rising cellular M2 M links, high demand for on-demand video services, and high demand for autonomous cars can also contribute to this region’s market size.
The Asia-Pacific region, on the other hand, is expected to rise steadily over the forecast period. The reason for this is the broad user base and ongoing 5 G technology programs and innovations. 5 G technology is thriving due to funding from local government, along with the potential for massive demand for 5 G services. Beijing (China), for example, is preparing to implement 5 G on a broad commercial scale by 2020, and China’s top manufacturers are working to reach that timetable. In addition, a good portion of the required radio frequencies was also distributed by the Chinese government. Hence China profits from robust cooperation between government and manufacturers with respect to the demand for 5 G technology.
Throughout the Europe zone, public and private sectors are taking aggressive steps in the area of 5 G technology. For example, in order to track the progress of the European 5 G integration goals for a competitive Digital Single Market (DSM) closely, proposals are being made for the establishment of the European 5 G observatory by 2025.
The major market players operating in the global 5G technology market as identified by MRFR are Cisco Systems, Inc., Telefonaktiebolaget LM Ericsson, Verizon, Huawei Technologies Co. Ltd., Samsung, MediaTek Inc., Qualcomm Technologies Inc., AT&T Inc., China Mobile Limited., NTT DOCOMO, Inc., and Nokia.
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5G Technology Market: By Communication Infrastructure (Small Cell, Macro Cell, Radio Access Network and Distributed Antenna System), By Services (Professional Services and Managed Services), By Network Technology (Software-Defined Networking, Network Function, Virtualization, Mobile Edge Computing and Fog Computing), By Chipset Type ( Application-Specific Integrated Circuit (ASIC), Radio Frequency Integrated Circuit (FRIC), Millimeter Wave Technology Chips and Field Programmable Gate Array (FPGA) and By Application (Automotive, Energy and Utilities, Healthcare, Retail, Industrial Automation, Consumer Electronics and Others) and Region – Forecast Till 2025
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