5G Technology Market 2020: Business Strategies, Revenue, Opportunities
Posted by Komal Boudhh on November 27th, 2020
Market Research Future (MRFR) in its latest study finds that the global 5G technology market will increase at a CAGR of 70.83% between 2020 and 2025. Going by the projection, the market is likely to reach a valuation of USD 729.97 Bn. 5G technology is anticipated to replace existing wireless technologies in the forthcoming years.
The technology’s robust attributes meet the dynamic needs of the constantly evolving wireless communication landscape. In recent years, there has been significant developments in cellular technology owing to the increasing demand for ultra-fast data speeds with low latency rates. The emergence of the fifth-generation network technology has allowed integration of technologies such as augmented and virtual reality for 3D and ultra-high definition videos and haptic feedback applications. Such developments necessitate high-speed connectivity, which creates market opportunities for 5G technology. Moreover, the growing demand for mobile broadband services and the growing application of IoT across industry verticals is also expected to have a positive impact on the market.
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Based on region, the 5G technology market has been segmented into Europe, Asia Pacific (APAC), North America and Rest of the World (RoW). North America is expected to remain the most attractive market for 5G technology during the assessment period. The U.S., Canada and Mexico are likely to present lucrative opportunities to market players. The U.S. leads the pecking order. In addition, the 5G market in the U.S. is expected to post a CAGR of 72% during the assessment period. For years, the U.S. has been at the forefront of telecommunication technology and the trend is likely to continue at least for the medium term if not beyond. 5G enabled consumer electronics are witnessing a strong demand across country, which indicates towards tremendous market prospects for the technology in the future. Asia Pacific is also viewed as an important market for 5G technology. 3G market in APAC is projected to increase at 74.60% during the assessment period.
MRFR’s study includes a thorough segmental analysis of the market based on communication infrastructure, service, network technology, chipset type, application, and region. By communication infrastructure, the market has been segmented into small cell, macro cell, and radio access network (RAN) and distributed antenna system (DAS). The small cell segment is expected to remain highly attractive during the assessment period. By 2025-end, the segment is expected to reach a market valuation of USD 4.45 Bn, reflecting a healthy growth rate. By services, the market has been bifurcated into professional services and managed services. Among these, the professional services segment accounts for a larger market share in terms of value.
By network technology, the market has been segmented into software-defined networking (SDN), network function virtualization (NFV), mobile edge computing (MEC) and fog computing (FC). By chipset type, the market has been segmented into application-specific integrated circuit (ASIC), radio frequency integrated circuit (FRIC), millimeter wave technology chips and field programmable gate array (FPGA). The ASIC segment is expected to retain its dominant position over 2025. By application, the market has been segmented into automotive, energy and utilities, healthcare, retail, industrial automation, consumer electronics and others. The consumer electronics segment accounts for the largest market share. By 2020, the segment is expected to reach a valuation of USD 2.30 Bn and likely to increase at a triple-digit CAGR of 119.80% during the review period.
Major Key players
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List of Tables
TABLE 2 LIST OF ASSUMPTIONS
TABLE 3 GLOBAL 5G TECHNOLOGY MARKET, BY COMMUNICATION INFRASTRUCTURE, 2020-2025 (USD BILLION)
TABLE 4 GLOBAL 5G TECHNOLOGY MARKET, BY SERVICE, 2020-2025 (USD BILLION)
TABLE 5 GLOBAL 5G TECHNOLOGY MARKET, BY NETWORK TECHNOLOGY, 2020-2025 (USD BILLION)
TABLE 6 GLOBAL 5G TECHNOLOGY MARKET, BY CHIPSET TYPE, 2020-2025 (USD BILLION)
TABLE 7 GLOBAL 5G TECHNOLOGY MARKET, BY APPLICATION, 2020-2025 (USD BILLION)
TABLE 8 GLOBAL 5G TECHNOLOGY MARKET, BY REGION, 2020-2025 (USD BILLION)
TABLE 9 NORTH AMERICA: 5G TECHNOLOGY MARKET, BY COUNTRY, 2020-2025 (USD BILLION)
TABLE 10 NORTH AMERICA: 5G TECHNOLOGY MARKET, BY COMMUNICATION INFRASTRUCTURE, 2020-2025 (USD BILLION)
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About the AuthorKomal Boudhh
Joined: July 17th, 2020
Articles Posted: 121
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