With high-speed internet and data connectivity becoming necessary for the survival of today’s digitally advanced workplaces, research activities focused on the development of next-level wireless broadband technology are becoming more intense and wide-ranging. The focus currently has shifted on the development of the 5G technology – the next face of development across the highly dynamic broadband industry after 3G and 4G wireless broadband technologies. 5G is expected to redefine communication, entertainment, and the way people connect to the internet. 5G technology is designed for forward compatibility, which means it can be integrated with a lot of devices, while also enhances mobile broadband, mission-critical communications, and the massive IoT. Furthermore, it also has the ability to flexibly support future services that require faster internet speed and ultra-low latency levels. 5G mobile technology can also usher in new immersive experiences such as VR and AR with faster, more uniform data rates, lower latency, and lower cost-per-bit, thus driving the demand for 5G technology market.
Access the Full Report @ https://www.absolutemarketsinsights.com/reports/5G-Technology-Market-2022-%E2%80%93-2030-1149
The companies operating in the 5G technology market have adopted strategies such as collaboration, partnership, product launch, R&D, and acquisition, to increase their market share and expand their geographical presence, thus driving the 5G technology market. Another major reason behind boom of the 5G technology market is increased demand for mobile broadband services. Availability for latest featured smartphones and raised awareness about internet usage is rampantly taking the market forward. The governments and public organizations of various countries have been investing a high amount for the betterment of their telecommunication infrastructure which has helped in the rise of the 5G technology market. The increasing network complexity in businesses and organizations is propelling the growth of 5G technology market as companies are preparing for the adoption of 5G technology to sustain in an increasingly complex network world. Meanwhile, latest technology is often costly and this is likely to prove hindrance to the growth of this market. Irrespective of few hiccups, the 5G technology market is forecasted to witness tremendous growth courtesy of the rapidly developing IT sector. The IT sector is indeed the fastest growing sector and this massively aids for this market demand.
Key Takeaways – Global 5G Technology Market:
- In terms of revenue, the global 5G technology market was valued at US$ 5,123.42 Mn in 2021 growing at an estimated CAGR of 46.45% over the forecast period.
- The rapid digitalization and increasing penetration of mobile devices, apps, and a variety of voice and collaboration tools the 5G technology market is expected to witness high growth rates.
- The ever-increasing consumer mobile bandwidth demand and connectivity for IoT and sensor devices for smart city applications, along with emerging applications such as augmented reality (AR) and self-driving cars is helping for the development and demand of the 5G technology infrastructure.
- Industry-wise IT and telecommunication segment makes most money for the 5G technology market. Number of people working in these industries is constantly going upwards, which automatically has resulted in surged demand.
- The region of Asia Pacific is forecasted to witness growth at the fastest rate for the 5G technology market. Trending work from home culture along with continuously rising demand for high-speed internet services has been the reason. Also, major corporates from China, India, Japan and South Korea are providing 5G services that too at very cheaper rates.
Some of the major players operating in the 5G technology market are listed below:
- AT&T Inc.
- Cisco Systems, Inc
- Deutsche Telekom AG
- Huawei Technologies Co., Ltd
- Intel Corporation
- LG Electronics
- Movandi Corporation
- NEC Corporation
- Nokia
- Orange Group
- Qualcomm Technologies
- SAMSUNG ELECTRONICS AMERICA
- Telefonaktiebolaget LM
- Telstra
- T-Mobile USA, Inc.
- Verizon
- ZTE Corporation
- Other Market Participants
Global 5G Technology Market:
By Offering
- Hardware
- Software
- Services
By Type
- Low bands
- Mid bands
- High bands
By Spectrum
- Licensed Spectrum
- Shared/ Unlicensed Spectrum
By Organization Size
- Small and Medium Enterprises
- Large Enterprises
By Industry
- IT and Telecommunication
- Automotive
- Healthcare
- Media and Entertainment
- Retail
- Consumer Electronics
- Government
- Smart Cities
- Energy and Utilities
- Manufacturing
- Gaming
- Aerospace
- Logistics
- Education
- Others
By Region
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
Contact Us:
Contact Name: Shreyas Tanna
Company: Absolute Markets Insights
Email Id: sales@absolutemarketsinsights.com
Phone: IN +91-7400-24-24-24, US +1-510-420-1213
Website: www.absolutemarketsinsights.com
Auto Amazon Links: No products found.
