Global 5G Market: Key Highlights
Global 5G Market: Key Market Dynamics
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Global 5G Market: Regional Overview
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.
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 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.
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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