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The report “5G Technology Market, Global Forecast, Impact of COVID-19, Industry Trends, by Components, Growth, Business Analysis of Opportunities” has been added to ResearchAndMarkets.com offer.
As the world is witnessing rapid technological advancements, the 5G market is no exception. In recent years, widespread 5G internet access has changed the way people communicate. In addition, in the future, 5G is likely to provide substantial business opportunities that consumers and industries have started to recognize. Going forward, heavy investments in 5G will facilitate connected devices and drive the growth of the Internet of Things (IoT) ecosystem. According to the publisher, the global 5G technology market is expected to reach $ 65.49 billion by 2026.
In addition, the essential components for the success of 5G technologies are the hardware, software and services associated with the advancements in 5G technology. By connectivity, the multiple wireless connectivity features are broadly classified into eMBB, FWA, mMTC and uRLLC. The eMBB attributes the primary focus of 5G network operators to deliver enhanced broadband capabilities for high-speed cloud-based gaming, augmented reality / virtual reality, UHD video, and constant video calling. The eMBB delivers exceptionally high data speeds to consumers and industries.
In addition, mMTC plans to meet the growing need for a developed digital ecosystem. MMTC focuses on delivering high connection density applications, such as smart buildings and smart cities. The ever-increasing demand to ensure continuous connectivity for all IoT devices deployed in a network is expected to contribute to the growth of the mMTC segment during the forecast period. According to this research report, the global 5G industry is expected to grow with a massive CAGR of 58.70% from 2020 to 2026.
Companies mentioned
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Qualcomm Technologies, Inc.
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Verizon Communications Inc.
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Telefonaktiebolaget LM Ericsson.
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Huawei Technologies Co., Ltd.
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Samsung Electronics Co., Ltd.
By application
5G technology is believed to provide various vital benefits to many industries such as IT and Telecommunications, Energy and Utilities, Manufacturing, Media and Entertainment, Transportation and Logistics, Aerospace and defense, health, government and public safety and BFSI. IT & telecom inculcates significant investments by key players in the latest communication technologies. 5G services are expected to deliver ubiquitous broadband access between homes and offices, encouraging remote consultation with specialists and reducing business travel. Additionally, a key application, such as healthcare, is expected to see significant enactment of 5G services to provide enhanced telemedicine and emergency healthcare services during and after the pandemic. According to the analysis, the global 5G technology market size was US $ 4.10 billion in 2020.
Regional Analysis Of 5G Technology Market
In recent years, by region, many countries such as North America, Latin America, Europe, Asia-Pacific, Middle East and Africa have conducted research conducted to commercialize the 5G technology. The continuous developments of network infrastructure in these countries and the growing need for faster data transfer and high performance network equipments are some of the key factors driving the growth of 5G markets.
In addition, expanding infrastructure in APAC, particularly in Japan, South Korea, Australia, Singapore, China and India, and expanding the deployment of 5G networks offer huge opportunities to implement implements 5G services. China Telecom, China Mobile, SK Telecom and KT Corporation are the major players in the APAC market which are aggressively investing in the deployment of 5G network infrastructure in China, Japan and South Korea. Due to a massive mobile subscriber base, businesses in this region are becoming more competitive and focusing on providing better customer service.
The global market is deeply fragmented as several regional telecom service providers spend to expand next generation infrastructure. The investment will help businesses gain a large customer base in the market. In addition, these market players are strategically focusing on mergers and acquisitions to strengthen their presence in the global market. The major players presented in the market are Qualcomm Technologies, Inc., Verizon Communications Inc., Telefonaktiebolaget LM Ericsson, Huawei Technologies Co., Ltd. and Samsung Electronics Co., Ltd.
COVID-19 Analysis of 5G Technology Industry
The pandemic has halted the progress of the 5G foundation in many countries. Steps taken to limit the spread of the disease have affected the timing of finalizing the 5G infrastructure standard. For example, the Ministry of Telecommunications of India has postponed its spectrum auctions for the year 2021. This development has adversely affected many vendors and telecommunications operators in the sector.
Few vendors are converging on an intrusive 5G rollout plan in 2021, due to 5G’s tendency to serve various industries during this crisis. In the healthcare industry, a 5G smart robot can help healthcare to perform treatment remotely. For example, in China, in Wuhan, several hospitals are using a 5G network to provide real-time help to patients in inaccessible areas. Therefore, 5G has immense potential to support during crises. However, the delay in the deployment of 5G limits its use. The global 5G market is expected to grow exponentially after the pandemic.
Components – The 5G market has been covered from 3 points of view:
1. Material
2. Software
3. Benefits
Connectivity – The 5G market has been covered from 4 points of view:
1.eMBB
2. FWA
3.mMTC
4.uRLLC
Application – The 5G market has been covered from 10 perspectives:
1. IT & Telecom
2. Energy and utilities
3. Manufacturing
4. Media and entertainment
5. Transport and logistics
6. Aerospace and defense
7. Health care
8. Government and public security
9. BFSI
10. Others
End User – The 5G market has been covered from 2 points of view:
1. Companies
2. Consumers
Region – The 5G market has been covered from 5 perspectives:
1. North America
2. Latin America
3. Europe
4. Asia-Pacific
5. Middle East and Africa
The connection by region – 5G numbers was approached from 5 points of view:
1. North America
2. Western Europe
3. Asia-Pacific developed
4. China
5. Rest of the world (undeveloped Asia-Pacific, MEA)
For more information on this report, visit https://www.researchandmarkets.com/r/8coe5v
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211007005485/en/
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