The Global 5G Market is projected to reach around USD 120 Billion by 2027 at a CAGR of around 30%.
5G is a fifth generation mobile network which enables new kind of network that is designed to connect virtually together including objects, machines, and devices. 5G wireless technology is meant to deliver higher, ultra-low latency, multi-Gbps, peak data speeds, massive network capacity, more reliability, and increased availability to more users. Higher performance and improved efficiency empower new user experiences and connects new industries. Rising demand for high speed Internet and broad network coverage and growing IoT applications are expected to drive the market during the forecast period. However, delay in standardization of spectrum allocation is projected to hamper the growth of the market.
Market Driver:
In the current scenario, LTE is currently the fastest mobile technology available, supporting peak data rates of up to 300 Mbps. With high speed, superior reliability and negligible latency, 5G will expand the mobile ecosystem into new realms. This technology uses much higher radio frequency to transfer exponentially more data over the air for faster speed and reduced congestion. Hence the need for high speed Internet in various media & entertainment applications such as AR & VR applications are expected to increase the demand for 5G technology during the growth period. Qualcomm, a leading player in 5G market designed Qualcomm Snapdragon X55 and Snapdragon X60 Modem-RF Systems, are designed to achieve up to 7.5 Gbps in downlink peak data rates.
Market Restraint:
The fifth generation of mobile technologies is expected to connect people, things, data, and applications, transport systems and cities in smart networked communication environments. However, the current regulatory framework for deploying network infrastructure has always been one of the most continuous issues in the 5G industry. There are many implementation challenges are faced by the growth of the 5G industry such as frequency bands, deployment, cost to build, and device support among others. In terms of frequency bands, 4G LTE are operates on below 6GHz frequency bands, but 5G requires frequencies up to 300 GHz. Hence, wireless carriers still need to bid for the higher spectrum bands as they build and roll out their respective 5G networks. In terms of cost, building a network is expensive, and carriers will raise the money to do it by increasing customer revenue. According to Heavy Reading, total global spending on 5G is set to reach USD 88 billion by 2023. These factors will affect the growth of the market during projected years.
The report on the 5G market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
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Report Features |
Specifics |
|---|---|
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Historical/Estimated/Forecasted Market Size Years |
2018-2027 |
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Base Year for Market Calculation |
2019 |
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Forecasted Period |
2020-2027 (2020 estimated year, forecasted up to 2027) |
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Measured Units |
USD (Million) |
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Segments Included |
Network Services, Chipset IC, Frequency band, and Application |
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Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South Africa |
For the scope of the report, In-depth segmentation is offered by Forencis Research
5G Market, by Network Services
5G Market, by Chipset IC
5G Market, by Frequency Band
5G Market, by Applications
5G Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE 5G MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY
