5G Technology Market Leading Growth Drivers, Future Estimation and Industry Outlook 2027

 

Market Highlights

5G services are set to be commercialized on a global scale by 2020 which is likely to open a plethora of opportunities in the upcoming years. The global 5G technology market, as per Market Research Future (MRFR)’s observation, is anticipated to thrive at a CAGR of 70.83% during the assessment period 2020 to 2025. Also, the valuation of the global market is expected to touch USD 700 Bn mark by 2025.

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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Segmentation:

On the basis of Communication Infrastructure, the global 5G technology market has been segmented into Small Cell, Radio Access Network, Macro Cell, and Distributed Antenna System.

By Services, the segments of the global 5G technology market are Professional Services and Managed Services.

Based on Network Technology, the segmental assessment of the global 5G technology covers - Software-Defined Networking, Virtualization, Mobile Edge Computing, Network Function, and Fog Computing.

By Chipset Type, the 5G technologymarket has been segmented into Application-Specific Integrated Circuit (ASIC), Millimeter Wave Technology Chips, Radio Frequency Integrated Circuit (FRIC), and Field Programmable Gate Array (FPGA).

On the basis of Application, the global 5G technology market has been segmented into Energy and Utilities, Automotive, Healthcare, Industrial Automation, Retail, Consumer Electronics, and Others.

Regional study

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.

Competitive Analysis

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

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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