5G MARKET TO REACH USD 120 BILLION BY 2027 | CAGR 30% – FORENCIS RESEARCH

5G Market Size, Share, Trends, Growth, Analysis, Research

Global 5G Market: Key Highlights

  • According to the new market research report 5G Market by Network Services (eMBB, uRLLC, mMTC), by Chipset IC (RFIC, ASIC, mmWave), by Frequency Type (Sub-6 GHz, 26 GHz to 39 GHz, above 39 GHz, Unlicensed Frequency Band), by Application (Telecommunication, Media & Entertainment, Manufacturing, Transportation & Logistics, Healthcare, Education, Automotive, Consumer Electronics, Energy & Utilities, Others), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) – Global Forecast (2020 to 2027)”, the global 5G market is estimated to reach USD 120 Billion by 2027 at a CAGR of around 30% during the review period.
  • 5G is a next generation of mobile broadband that will eventually replace 4G LTE. 5G provide faster download, faster uploading speed, and low communication connectivity time.
  • This technology works under different spectrum bands: low-band, medium-band, and high-band. The International Telecommunication Union (ITU) is a specialized agency at the United Nations that develops technical standards for communication technologies, and it sets the rules for radio spectrum usage and telecommunications interoperability.
  • The standards set by 3GPP are closely corresponds with IMT-2020 performance targets which includes: peak data rate, speed, latency, efficiency, spectral efficiency, mobility, and connection density.  

5G Market

Global 5G Market: Key Market Dynamics

  • Rising demand for high-speed Internet & broad network coverage and growing IoT applications are expected to drive the market during the forecast period.
  • However, implementation challenges are expected to hinder the growth of the market and power dissipation in massive MIMO antenna will become a challenge for 5G market during forecast period.
  • Increasing demand for connected cars and machine to machine communication will become an opportunity for the 5G market during forecast period.

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Global 5G Market: Regional Overview

  • North America

North America is expected to hold largest market share in the 5G market during forecast period. High investment in R&D of technology, presence of key market players, drives the market in North America region. North America is known for high adoption rate of latest technologies such as IoT, autonomous cars, wearable devices, and wireless technologies which fuel the growth of the 5G market in this region. North American operators are expected to start running out of capacity in at least 50% of sites starting 2020. Depending on the area, carriers will be providing to meet the increased traffic needs by densifying their networks with macro-sites or small-cells.  

  • Asia-Pacific

Owing to the rapid growth of the IT & telecommunication industry in Asia-pacific, the demand for 5G is expected to increase. The roll-out of 5G across the region will take place gradually over the next few years. Telecom service providers are challenged to design a network architecture that can support upcoming 5G deployments. According to Ciena, 5G is already carrying more than 20% of all mobile traffic in South Korea, and much of the proposed innovation will be powered by the new capabilities of 5G. Increasing number of subscribers due to increase in population will also drive the market in APAC region.

Global 5G Market: Key Players Overview

  • Qualcomm Technologies Inc.:

Qualcomm Incorporated operates as a multinational semiconductor and telecommunications equipment company. The Company develops and delivers digital wireless communications products and services based on CDMA digital technology. 5G is designed to deliver peak data rates up to 20 Gbps based on IMT-2020 requirements. Qualcomm Technologies flagship 5G solutions, the Qualcomm Snapdragon X55 and Snapdragon X60 Modem-RF Systems, are designed to achieve up to 7.5 Gbps in downlink peak data rates. In June 2020, the company launched first 5G mobile platform which support remarkable on-device AI and vibrant entertainment experiences.  

  • Telefonaktiebolaget LM Ericsson:

Ericsson is one of the leading provider of information communication technology to service providers. The company operates through various segments such as networks, digital services, Managed Services and Emerging Business; powered by 5G and IoT platforms. In July 2020, Ericsson partnered with Qualcomm, MediaTek and OPPO to provide the 5G network to Vodafone in the UK. The Standalone 5G network will be used to trial virtual reality learning to support training for student nurses and allied health professionals of Coventry University in the UK.

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Published : 2020-06-29