5G Technology Market Key Insights Based on Product Type, End-Use and Regional Demand Till 2020-2027
As per GMI Research’s latest analysis, the Global 5G Technology Market reveals that the market is slated to register a higher CAGR over the forecast period. This is attributed to the rising machine-to-machine adoption across various sectors, the increasing adoption of virtual network architecture in telecommunications, the growing mobile data traffic, and lower latency in 5G.
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5G Technology Market’s leading Manufacturers:
- Huawei Technologies Co., Ltd
- Samsung Electronics Co. Ltd
- Ericsson Inc
- Nokia Corporation
- ZTE Corporation
- NEC Corporation
- Cisco Systems Inc
- CommScope, Inc
- Comba Telecom Systems Holdings Ltd
- Alpha Networks Inc
5G Technology Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The rising machine-to-machine adoption across various sectors, the increasing adoption of virtual network architecture in telecommunications, the growing mobile data traffic, and lower latency in 5G globally are the key drivers surging the growth of the 5G technology market size. In the era of the technological landscape, a smartphone is a necessity for every person around the world. Several platforms, including websites, social media, web applications, are an important part of each person’s life. There has been an increase in the growth of web adoption in data traffic at a global level. As per the 5G technology market report, data traffic is growing owing to the rising availability of economic data plans from numerous network providers. This rising data traffic is propelling the demand for 5G technology.
Each individual globally is looking for high-speed networks with low latency. 5G technology offers low latency, fast speed, effective download speed of web applications, and efficient peer-to-peer communication. According to the 5G technology forecast, 5G technology is gaining popularity among the gaming sector due to the growing focus on introducing different subscription-based cloud gaming solutions. In addition to this, the strong demand for web games is rapidly growing with the launch of 5G technology as these games need a high-speed network. These factors will further boost the demand of the market during the forecast period. On the other edge of the spectrum, the delay in standardization of spectrum allocation will hamper the growth of the 5G technology market share in terms of revenue.
The outbreak of the COVID-19 pandemic has adversely influenced the growth of the 5G technology market, particularly in 2020 due to the lockdown globally has hindered the supply chain and delays in the release of 5G features. On the other hand, the continuous shutdown of production facilities has negatively impacted the sales and production of 5G smartphones, which in turn, will hinder the market growth. However, the market is projected to bounce back in 2021, increasing at a significant growth rate from 2021.
Communication Infrastructure Segment Drivers
Based on communication infrastructure, the market is segmented into small cells and macrocells. The small cell is anticipated to dominate the market in the upcoming years as it is believed to be an important part of 5G technology, decreases cost, aids in enhancing capacity, improves the bottom line of cellular providers, and increases benefits at the provider’s end, which will bolster the growth of the market.
5G Technology Market Segmentation:
Segmentation by Communication Infrastructure:
- Small Cell
o Micro Cell
o Femtocell
o Pico Cell
- Macro Cell
Segmentation by Core Network Technology:
- SDN
- NFV
Segmentation by Network Architecture:
- 5G Nr Non-Standalone (LTE Combined)
- 5G Standalone (NR + Core)
Segmentation by Operational Frequency:
- Sub 6 GHz
- Above 6 GHz
Segmentation by End-User:
- Residential
- Commercial
- Industrial
- Government
Segmentation by Region:
- North America
o United States of America
o Canada
- Asia Pacific
o China
o Japan
o India
o Rest of APAC
- Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
- RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)
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