The demand for 5G technology is expected to increase at a CAGR of 48.3% globally. By 2023, market revenue is predicted to be worth US$ 19.3 billion, and by 2033, it will have increased by US$ 994.8 billion.The Snapdragon X65, a flagship 5G solution from important companies that aims to deliver downlink peak data speeds of up to 10 Gbps, is one example. In addition to faster peak data rates, 5G aims to expand into new spectra like mmWave to offer a lot of network capacity.
For experienced wireless engineers, non-engineers who are new to 5G, and other groups, some important companies have their own academies that offer a wide range of 5G training courses.
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The 5G technology market refers to the market for the fifth generation of cellular networks that promises faster data transfer speeds, lower latency, and higher network capacity compared to previous generations of cellular networks.
The 5G technology market can be segmented by communication infrastructure, end-use industry, and region. Communication infrastructure includes small cells, macro cells, and radio access network (RAN). End-use industries include automotive, healthcare, retail, media and entertainment, and others.
North America is the largest market for 5G technology, followed by Asia Pacific and Europe. The growth in North America can be attributed to the increasing adoption of connected devices, rising investments in 5G infrastructure, and the presence of key players in the region.
Key Takeaways:
Throughout the forecast period, the United States is predicted to have a sizable share of the global 5G technology market. This is because 5G plans offer a comprehensive approach to network technologies. It is achieved by using the ability to innovate and invest while also developing government policies to support and complement those strengths.
The 5G technology market in Asia Pacific is expected to be significant throughout the forecast period, led by China and Japan. This is attributed to major parties continuing to push for the creation of a 5G plus gigabit fiber network, as well as improving multi-frequency collaboration, co-construction, and sharing.
Owing to the vital role of 5G technology in assisting governments and public organizations in making cities smart, the “smart cities” application type is expected to hold considerable revenue throughout the forecast period.
As it contributes to spectral efficiency by reducing signal loss and radio interference, the “5G RAN” technology type and is the most innovative category for key businesses and accounts for a significant percentage.
Competitive Landscape:
The global 5G technology industry is fragmented owing to the presence of both international and domestic competitors. Numerous corporations have a substantial market share in their respective industries. Well-known firms frequently appreciate organic developments such as product approvals and the benefits of C-RAN. These elements are likely to propel the global 5G technology market forward.
Key Players:
- Ericsson
- Deutsche Telekom AG
- Nokia Networks
- AT&T Inc.
- Huawei Technologies Co. Ltd.
- Orange S.A.
- China Mobile Limited
- K.T. Corporation
- Qualcomm Inc.
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Key Segments Profiled in the 5G Technology Market Survey
By Technology Type:
- 5G RAN
- 5G NG Core
- NFVI
- Routing Backhaul
- Optical Backhaul
- Others
By Application:
- Virtual & Augmented Reality
- Connected Automotive
- Smart Manufacturing
- Connected Energy
- Wireless eHealth
- Connected Drones
- Smart Cities
- Others
By Vertical:
- Manufacturing
- Automotive
- Energy & Utilities
- Transportation & Logistics
- Public Safety
- Healthcare
- Agriculture
- Others
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