Accroding to the market report “Next Generation Communication Technologies Market – Wireless Communication (Wimax 2.1, Wi-Fi 802.11 ac, 4G LTE, Others) By End-User (Telecommunication, Consumer Electronics, Enterprise Applications, Others) & By Geography – Forecast (2016 – 2021)” published by IndustryARC, global next generation communication technologies market is estimated to reach $195.6 billion by 2021, growing at a CAGR of 27.7% in a forecast period.
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Next generation communication technologies have the capability to transfer the information at faster rates with high efficiency. This technology helps in handling significant number of connected devices and widely employed in many end user industries for data transfer. These technologies are well established and have been continuously upgrading in developed nations. Significant involvement of government bodies in the form of research investments and digital initiatives boosts its R&D and commercialization.
The Wireless technologies focus on the new spectrum of millimeter wave, wide bandwidths, modulation techniques and multiple input multiple outputs (MIMO) and so on. The prominent next generation wireless communication technology is 5G technology. The 5G technology has the capability to address the service requirements for numerous devices with high service quality and user personalization. The mobility, flexibility, ease of use, durability and cost are the favorable factors for the rising demand related to wireless networks in contrast with the wired networks.
Major applications of these wireless networks include security systems, television remote control, Wi-Fi, cell phones, wireless power transfer, computer interface devices and so on. The wireless communication includes different technologies such as Bluetooth, GPS, GSM, RFID and Zigbee. Owing to the expanding utilities of these technologies with continuous updating in various industry verticals, the next generation communication market is estimated to have healthy growth rate over the forecast period.
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Americas region accounted for the major share owing to the early adoption of technological advancements and awareness about the benefits of these technologies. The Americas market accounted for $11.2 billion in 2015 closely followed by European market. On the other hand, APAC is set to witness fastest growth rate in the coming years.
The major players in this market Include:
- Huawei Technologies Co., Ltd.
- Ericsson
- Nokia Corporation
- ZTE Corporation
The market players have been focusing on eliminating communication gap and optimizing multiplexed communication to improve user experience. However, emerging companies have been active in launching innovative communication solutions which impacts the dominance of top players in the coming years. The global next generation communication technologies market report provides detailed analysis of the different technologies and end users.
Various types of next generation wireless technologies are:
- 5G
- 4G LTE
- Wimax 2.1
- Wi-fi 802.11ac
- Bluetooth 4.2
- ZigBee
- Wireless Sensor Network
- Laser Communication
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