DUBAI, United Arab Emirates, Jan. 17, 2023 (GLOBE NEWSWIRE) — Global demand for 5G technology is expected to record a CAGR of 48.3%. The revenue of the market will be valued at $19.3 billion in 2023 and will show a revenue growth of $994.8 billion by 2033.
The key factor driving the demand for 5G technology is its ability to provide new highly connected, reliable, accessible, low-cost services, such as remote control of utilities, vehicles, and medical systems, which can revolutionize industries.
The progress of digital transformation has greatly helped industries to reorganize their operations and, thus, increase their profits throughout the years. Technological concepts such as Internet of Things (IoT), Artificial Intelligence (AI), and others are predicted to support the growth of the global 5G technology market in the coming years.
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According to The GSM Association’s Mobile Economy Report 2019, the number of IoT devices in the world is expected to quadruple to 25 billion between 2018 and 2025, while IoT revenue will reach $1.2 trillion., The study said that more than 700 million people are expected to register. in mobile services by 2025, with 5G technology accounting for only 20% of the technology mix.
Some key players see a 5G future where remote monitoring ensures clean water, reduces food insecurity, and improves public safety by providing warnings of floods, earthquakes, and mudslides.
Network slicing is an essential tool for service providers to meet a variety of business needs. This technology enables the provider to create a dedicated network based on the user’s needs or customer’s needs. For example, network requirements for healthcare providers may be very different from smart agriculture.
It increases the security of critical services. When network components are designed to perform specific tasks, they improve reliability and ease of use. During the 5G test of the IMT-2020 (5G) group in January 2020, a market player in China tested 5G New Radio using the 2.6 GHz spectrum. The company’s leading role in the completion of the test, as well as the new findings, may help in the development of similar standards around the world, allowing China to successfully complete the second phase of 5G testing.
Vendors are scrambling to deploy 5G networks, especially in North America. The development of 5G technology is expected to drive vendors in the market to develop wireless test equipment that can support the technology. The Indian government is also trying to establish a fund for the development of 5G technology, which is expected to increase the growth of the market during the forecast period.
However, the deployment of small cells faces regulatory, economic, and logistical challenges in many countries around the world, which are expected to delay the rollout of 5G technology. The high cost of small cell networks and the lack of security in remote power systems may hinder the growth of the 5G technology market.
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Essentials:
Throughout the forecast period, the United States is expected to hold the largest share in the global 5G technology market. This is because 5G plans offer a comprehensive approach to network technology. It is achieved through the use of innovation and investment and the creation of government policies to support and support those forces.
The 5G technology market in Asia Pacific is expected to be important throughout the forecast period, led by China and Japan. This is possible because the major parties continue to push for a 5G network including gigabit fiber, as well as planning for multi-frequency cooperation, co-building, and sharing.
Due to the important role of 5G technology in helping governments and public institutions to make cities smarter, the “smart city” model is expected to have significant investment throughout the period.
As it contributes to the efficient management of signal loss and radio interference, the “5G RAN” technology is the most advanced group in the business sector and accounts for a lot of money.
Competitive Landscape:
The global 5G technology industry is fragmented due to the presence of global and domestic competitors. Many corporations have a large market share in their industries. Famous companies often appreciate the environmental aspects such as commercial acceptance and the benefits of C-RAN. These factors are likely to boost the global 5G technology market.
Key Players:
- Ericsson
- Opinions of the company Deutsche Telekom AG
- Nokia Networks
- Opinions of the company AT&T Inc.
- Company opinion Huawei Technologies Co., Ltd.
- Orange S.A
- Opinions of the company China Mobile Limited
- Concept of the company KT Corporation
- The opinion of the company Qualcomm Inc.
- Verizon Communications Inc.
Latest:
- In October 2022, HFCL Limited introduced Radio Unit 5G 8T8R, a next-generation RU with a small form factor that offers digital light, high power density, and zero-touch functionality.
- In January 2021, AT&T launched its 5G+ services in many popular Tampa locations, including the Channel District and Raymond James Stadium in the United States.
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Key Market Segments for 5G Technology
By Type of Technology:
- 5G RAN
- 5G NG Core
- NFVI
- Backhaul method
- Optical Backhaul
- Others
Using:
- Virtual & Augmented Reality
- Connected Cars
- Smart Manufacturing
- Connected Energy
- Wireless eHealth
- Connected Drones
- Smart Cities
- Others
By Singer:
- Creation
- Cars
- Power & Utilities
- Transport & Logistics
- Public Safety
- Health care
- Agriculture
- Others
Depending on the Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
- Europe
Contents
1. Brief Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Sidewalks
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Summary
2.1. Market Size / Taxonomy
2.2. Market Definition / Size / Limitations
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explosionre FMI Wide Spread Pa Modern Region:
Customer Experience Platforms Market Growth: According to Future Market Insights, the customer experience platforms market will generate $7,753.9 million in sales in 2021. (FMI). The global customer experience platforms market is expected to grow at a CAGR of 13.9% from 2022 to 2028, reaching an estimated $18,972.7 Mn.
Market Analysis of Industrial Transceivers: The demand for industrial transceivers is expected to grow at a CAGR of 6.7% through 2032. Network infrastructure that is needed in the long term to accelerate the development of smart cities and manage large networks.
Optical Emission Spectroscopy Market Growth: The Optical Emission Spectroscopy market is expected to reach a value of USD 576 Million in 2019, growing at a CAGR of 19.96% from 2020 to 2027.
License Management Market Share: The license management market is valued at $988 Mn in 2021. It is expected to grow at a CAGR of 9% until 2028.
Global CRM Market Value: The global CRM market revenue currently stands at $26.2 Bn, and is expected to show progress at an impressive CAGR of 10.4% to reach a market value of $52.4 Bn by the end of 2029.
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