5G Technology Market: Global Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022-2028

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5G Technology Market: By Component (Hardware, Software, and Services), By Connectivity (Enhanced Mobile Broadband (EMBB), Ultra-Reliable Low Latency Communication (URLLC) and Massive Machine Type Communication (MMTC)), By Application (Automation, Monitoring & Tracking, Connected Vehicle, Smart Surveillance, VR & AR, Enhanced Video Services, and Others), By End User (Manufacturing, Automotive, Energy & Utilities, Transportation & Logistics, Healthcare, Government, Media & Entertainment, and Others), and Geography

 

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Report

Description

The 5G technology market size was valued at USD 5,372.8 million in 2021 and is expected to grow at a significant CAGR of 23.5% over 2022-2028. 5G networks deliver an improved internet experience of 1 Gbps and 10ms and a basis for cloud and AI-based services. To satisfy the rising demand for mobile broadband services, network capacity must be increased by a new spectrum, resulting in widespread adoption of the 5G core for the implementation of 5G technology for improved mobile broadband services. Reduced latency in 5G, growing adoption of virtual networking architecture in telecoms, and higher mobile data traffic are driving the industry. Increasing M2M connectivity across multiple industries is predicted to fuel 5G infrastructure growth throughout the forecast period. To enhance their market share and geographical presence, players have used tactics such as collaboration, partnership, product introduction, R&D, and acquisition. The growing popularity of IoT uses cases in various industries that require wide-area connectivity and the capacity to manage many connections has spurred demand for massive IoT solutions. Massive IoT is gradually gaining traction as a new focus for IoT connectivity. 5G networks are expected to facilitate a massive deployment of intelligent IoT nodes in various settings. It will also provide a firm platform for the widespread adoption of critical communications services. During the projection period, the manufacturing segment of the 5G services market is expected to have a bigger market share. The demand for seamless connectivity to drive industrial devices such as robots and actuators is growing. This will allow future factories to be more efficient, networked, and flexible. Inside factories, 5G will make manufacturing procedures easier, such as more efficient production lines (with machine vision and high-definition video for process management), factory AGVs (autonomous transportation), and machine control, all with latency of less than 5ms using URLLC.

Recent Market Developments:

In November 2021, Ericsson enters into agreement for USD 6.2 billion cash offer to acquire Vonage, a global provider of cloud-based communications, with unanimous approval of the Vonage Board of Directors. Acquisition underlines Ericsson strategy to expand its presence in wireless enterprise and broaden its global offerings.

In Feb 2020, Huawei Consumer Business Group (BG) hosted a virtual launch in Barcelona, Spain, during which it announced a series of new 5G products and strategy that demonstrate the full capabilities of its all-scenario ecosystem.

5G Technology Market

MARKET SUMMARY
-
23.5%
  • Study Period– 2022-2028
  • Base Year– 2021
  • CAGR– 23.5%
  • Largest Market– Asia-Pacific
  • Fastest Growing Market– Asia-Pacific

5G Technology Market

  • The 5g technology market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
  • The 5g technology market report gives historical, current, and future market sizes (US$ Mn) based on component, connectivity, application, end-user, and geography.
Key Players
  • Qualcomm Inc
  • Telecom Italia
  • Telstra,
  • T-Mobile
  • Intel Corporation.
5G Technology Market Dynamics

The growing focus of 5G system integration providers on forming agreements with telecom operators is expected to boost uptake of these services. The continued focus on improving energy monitoring and management, as well as gaining greater control of the energy production and distribution network, is expected to boost market growth over the forecast period. Market expansion is predicted to be impeded by high spectrum cost and probable rises in 5G service subscription rates. Several major service providers around the world are investing in modern network infrastructure to reach the greatest potential user base while the business is still in its early phases.


Asia-Pacific Got Significant Share

5G Technology Market

In terms of 5G R&D, network design/deployment, and the presence of important industry players, North America is one of the main markets for 5G infrastructure. North America is noted for its rapid adoption of modern technologies such as the Internet of Things (IoT), wearable technology, and autonomous/connected vehicles. 5G provides the reliable and fast connectivity that these technologies require. As a result, the market in North America can be predicted to grow rapidly. Asia Pacific has the second-largest market in 2021 and is estimated to expand further at the fastest CAGR during the forecast period. Key market players in APAC, such as China Telecom, China Mobile, SK Telecom, and KT Corp., are investing aggressively in rolling out the 5G network infrastructure in China, Japan, and South Korea.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The 5g technology market report provides granular level information about the market size, regional market share, historic market (2017-2021) and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
5G Technology Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The 5g technology market is projected to expand at a CAGR of 23.5% during the forecast period.

Deutsche Telekom AG,Huawei Technology, Qualcomm Inc, Nokia, Intel Corporation.

 

Asia-Pacific is the fastest-growing region for 5g technology market


Report

Company Profile

  • Deutsche Telekom AG
  • Ericsson
  • Huawei Technology
  • Nokia
  • Orange S.A
  • Qualcomm Inc
  • Telecom Italia
  • Telstra,
  • T-Mobile
  • Intel Corporation.

Description

The 5G technology market size was valued at USD 5,372.8 million in 2021 and is expected to grow at a significant CAGR of 23.5% over 2022-2028. 5G networks deliver an improved internet experience of 1 Gbps and 10ms and a basis for cloud and AI-based services. To satisfy the rising demand for mobile broadband services, network capacity must be increased by a new spectrum, resulting in widespread adoption of the 5G core for the implementation of 5G technology for improved mobile broadband services. Reduced latency in 5G, growing adoption of virtual networking architecture in telecoms, and higher mobile data traffic are driving the industry. Increasing M2M connectivity across multiple industries is predicted to fuel 5G infrastructure growth throughout the forecast period. To enhance their market share and geographical presence, players have used tactics such as collaboration, partnership, product introduction, R&D, and acquisition. The growing popularity of IoT uses cases in various industries that require wide-area connectivity and the capacity to manage many connections has spurred demand for massive IoT solutions. Massive IoT is gradually gaining traction as a new focus for IoT connectivity. 5G networks are expected to facilitate a massive deployment of intelligent IoT nodes in various settings. It will also provide a firm platform for the widespread adoption of critical communications services. During the projection period, the manufacturing segment of the 5G services market is expected to have a bigger market share. The demand for seamless connectivity to drive industrial devices such as robots and actuators is growing. This will allow future factories to be more efficient, networked, and flexible. Inside factories, 5G will make manufacturing procedures easier, such as more efficient production lines (with machine vision and high-definition video for process management), factory AGVs (autonomous transportation), and machine control, all with latency of less than 5ms using URLLC.

Recent Market Developments:

In November 2021, Ericsson enters into agreement for USD 6.2 billion cash offer to acquire Vonage, a global provider of cloud-based communications, with unanimous approval of the Vonage Board of Directors. Acquisition underlines Ericsson strategy to expand its presence in wireless enterprise and broaden its global offerings.

In Feb 2020, Huawei Consumer Business Group (BG) hosted a virtual launch in Barcelona, Spain, during which it announced a series of new 5G products and strategy that demonstrate the full capabilities of its all-scenario ecosystem.

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