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.
The increasing demand for ultra-fast data services is likely to emerge as the primary factor responsible for driving the expansion of the 5G technology market over the next couple of years. The technology requires massive investments to overhaul the existing network infrastructure. However, the rising demand from the customers has prompted the telecom industry leaders to multiply investments in 5G network technology. It is assessed to support the growth of the market in the foreseeable future.
The key advantages provided by 5G services are higher bandwidth, increased speed, and superior user experience. It is expected to catapult the 5G technology market on growth trajectory in the years to come. The technology is anticipated top witness innovations over the next few years which assures the lucrativeness of the market in the nearby future.
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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 technology market 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.
The regional evaluation of the global 5G technology market is offered in this report on the basis of major regional segments – North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). The analysis also covers a country-level analysis of the global market in terms of market value and growth rate. North America is at the forefront position in the global market place. The technologically advanced networking infrastructure of the region is expected to boost the revenue generation for the players of the market in the years to come. The region is prognosticated to register a CAGR of 71% over the review period. Asia Pacific is projected to secure the second position in the market over the next couple of years. The regional segment is projected to strike a CAGR of 74.60% across the projection period.
Telefonaktiebolaget LM Ericsson, Huawei Technologies Co. Ltd., Verizon, Qualcomm Technologies Inc., MediaTek Inc., Samsung, China Mobile Limited., ATT Inc., NTT DOCOMO, Inc., Cisco Systems, Inc., and Nokia are some of the major players of the global 5G technology market assessed in this MRFR study.
In September 2019, Qualcomm Technologies, an American multinational semiconductor and telecommunications equipment company, has announced the expansion of its portfolio of 5G mobile platforms to accelerate 5G global commercialization. The expansion is to be conducted across Snapdragon 6 Series, 7 Series and 8 Series in 2020.
In August 2019, Huawei Technologies Co., a Chinese multinational technology company, has announced the launch of its latest Mate 20 X (5G) handsets that support two different 5G networks - SA and NSA.
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