Research Nester has released a report titled “5G Technology Market – Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global 5G technology market in terms of market segmentation by offering, by communication infrastructure, by network technology, by chipset type, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global 5G technology market is segmented by application into manufacturing & utilities, professional & financial services, public services, ICT & trade, agriculture & mining and others, out of which, manufacturing & utilities segment is anticipated to hold the largest market share on the back of rising trend of Industry 4.0 and shifting trend of manufacturers towards the deployment of sensors for better monitoring and efficiency of industrial processes using technologies, such as industrial internet of things (IIoT). In the statistics by The GSM Association in its report The Mobile Economy Report 2019, by the year 2034, 5G technology is anticipated to contribute to USD 2.2 trillion with a GDP growth rate of 5.3%. Additionally, nearly 35% of the share of economy is to be contributed by manufacturing and utilities sector.
The global 5G technology market is anticipated to record a CAGR of 73.61% during the forecast period, i.e. 2020-2028. Rising need for high speed internet and data connectivity amongst consumers around the globe coupled with modernization of industries over the years on the back of digital transformation, along with adoption of new concepts amongst consumers, such as artificial intelligence, internet of things (IoT) and others are some of the factors anticipated that are contributing towards the growth of the global 5G technology market. In other statistics by The GSM Association in its report The Mobile Economy Report 2019, around 25 billion global IoT connections are anticipated in-between 2018 and 2025, along with revenue of IoT reaching USD 1.1 trillion.
Regionally, the global 5G technology market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America is anticipated to hold the largest market share owing to rising acceptance of consumer electronic devices that are dependent on high-speed network. Europe is further anticipated to gain significant market share over the years in the global 5G technology market. In other statistics by The GSM Association in its report The Mobile Economy Report 2019, North America and Europe is anticipated to contribute to the largest share of technology mix of digital cellular network by having 47% and 29% respectively in the year 2025.
Increasing Investments for Deployment of 5G Infrastructure
In the statistics by the International Telecommunication Union (ITU), total number of individuals using the internet peaked to 51.4 units per 100 inhabitants from 29.3 units per 100 inhabitants in-between 2010-2018.
Internet users around the globe are increasing at a rapid pace. Along with technological advancements in digital cellular networks, telecom operators are increasingly spending on to develop the telecom infrastructure so as to mitigate the needs of the growing population of internet users. Several associated companies with the 5G technology infrastructure are gearing up their speeds to release their products so as to keep pace with the dynamic technology. Increasing investments observed from telecom operators, mobile handset manufacturers and other network equipment manufacturers for the implementation of the 5G technology infrastructure around the globe are some of the factors anticipated that are driving the growth of the global 5G technology market. In other statistics by The GSM Association in its report The Mobile Economy Report 2019, an investment of around USD 480 billion as mobile capex has been planned by mobile operators in-between 2018 and 2020 to support the generational shift in technology and further drive consumer engagement.
However, concerns regarding delay in the standardization of regulations and other associated processes for the allocation of spectrum frequency bands for 5G technology infrastructure in some of the developing nations around the globe are some of the factors anticipated to limit the growth of the global 5G technology market.
The market also provides the existing competitive scenario of some of the key players of the global 5G technology market, which includes company profiling of Intel Corporation (NASDAQ: INTC), Deutsche Telekom AG (ETR: DTE), Telefonaktiebolaget LM Ericsson (STO: ERIC-B), Huawei Technologies Co. Ltd., Nokia Corporation (HEL:NOKIA), Orange (EPA: ORA), Qualcomm Technologies, Inc. (NASDAQ: QCOM), Telecom Italia (BIT: TIT), Telstra Corporation Limited (ASX: TLS), and T-Mobile USA, Inc. (NASDAQ: TMUS). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global 5G technology market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.