5G Technology Market is Estimated to Reach US$ 248,462.4 Million by 2028 End, Opines Future Market Insights
Providers of telecommunication services and 5G technology are engaged in collaborating with each other to enhance their revenue share in addition to reaching new potential markets.
DUBAI, UAE / ACCESSWIRE / December 23, 2020 / The global 5G technology market is anticipated to expand at a prolific CAGR of 82.4% amid the assessment period. A rise in number of smartphone users and internet users is driving the expansion of 5G technology market. Additionally, growing investments in IoT technology is projected to have a notable impact on the 5G technology market.
“Substantial implementation of advanced technologies in enterprise application, such as the cloud solutions and internet of things, will boost the implementation of 5G technology by changing the focus from customer-centric cellular coverage to other machine-centric communications.” says the FMI report.
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- East Asia will account for a notable share in the market due to incessant developments in the network infrastructure of countries.
- 5G Standalone (NR + Core) is expected to expand at a higher CAGR in 5G infrastructure market amid assessment period.
- Virtual & Augmented Reality will be fueling the market growth of the 5G technology.
- Integration of 5G services with satellite communication is anticipated to propel demand for 5G technology.
- Surging demand for content streaming services, and growing demand for low latency connectivity in industrial automation will drive market growth
- Upsurge in artificial intelligence technology and several IoT devices is bolstering the market growth.
- Rising investments in telecommunication infrastructure is generating investment prospects in the market.
- Implementation of fiber backhaul and challenges in small cell deployments are estimated to limit 5G technology market expansion.
- Slow integration of novel technologies in the present infrastructure is the key challenge for the market.
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Anticipated Market Impact by COVID-19 Outbreak
The closedown of several industries owing to COVID-19 outbreak is likely to restrict the 5G technology market growth. Furthermore, several 5G spectrum programs are postponed owing to the outbreak, which is a key threat for the expansion of global 5G infrastructure market. For example, the government of India has put off the 5G spectrum auction. Additionally, rise in mobile data traffic is anticipated to fuel the 5G infrastructure market, consecutively assisting market growth for 5G technology .
Long-term agreements and strategic partnerships amid the network equipment manufacturers and telecommunication service providers are anticipated to boost the growth of 5G technology market and assist in increasing revenue over the forecast period. Major players operating in the 5G technology market include Deutsche Telekom AG, AT&T Inc., Nokia Networks, Orange S.A., Huawei Technologies Co. Ltd., KT Corporation, China Mobile Limited, Verizon Communications Inc. and Qualcomm Inc.
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About the Study
The study offers readers a comprehensive assessment of the 5G technology market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights based on technology(5G RAN, 5G NG Core, NFVI, routing backhaul, optical backhaul and others), application (virtual & augmented reality, connected automotive, smart manufacturing, connected energy, wireless eHealth, connected drones, smart cities and others), vertical (manufacturing, automotive, energy & utilities, transportation & logistics, public safety, healthcare, agriculture and others), across five major regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)).
Table Of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Technology Roadmap
1.3. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
2.3. Industry Speak
3. Key Contracts & 5G Deployment Timelines
3.1. Key Contracts
3.2. 5G Deployment Timelines by Major Countries
4.1. Mobile Subscription by Technology
4.2. Smartphone Subscription by Technology
4.3. Cellular IoT Connections Per Region
4.4. Subscriptions & Subscribers Statistics
4.5. 5G Adoption Statistics in 2025
5. 5G Technology Overview
5.1. North America
5.2. Latin America
5.4. Asia Pacific
5.5. Middle East & Africa
6. Global 5G Technology Market Forecast, 2018-2028
6.1. Current and Future Market Value (US$ Mn) Projections, 2018-2028
6.1.1. Y-o-Y Growth Trend Analysis
6.1.2. Absolute $ Opportunity Analysis
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About Future Market Insights
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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