5G Market Size, Opportunities, Analysis and Trends by Forecast to 2030
Market Research Future Insights
According to MRFR analysis, the global 5G market is expected to
register a CAGR of 47.6% from 2022 to 2030 and hold a value of over USD 198.44
billion by 2030.
5G
refers to the fifth generation of mobile networks and telecommunications
technology that delivers faster download and upload speeds, lower latency, and
higher network capacity. The 5G market includes various components such as
hardware, software, and services, and it is expected to witness significant
growth in the coming years. COVID-19 has had a significant impact on the 5G
market. On the one hand, it has led to delays in the deployment of 5G networks
and slowed down the adoption of 5G technology in some regions due to
disruptions in the supply chain and restrictions on physical movements. On the
other hand, it has also accelerated the demand for 5G in several sectors such
as healthcare, education, and remote work, as organizations looked for ways to
continue their operations amid the pandemic.
Key players
Some of the key market players are LM
Ericsson, Bharti Airtel Limited (India) (Sweden), Verizon Wireless (US),
Vodafone
Group PLC (UK), AT&T Inc. (US), and Huawei Technologies Co. Ltd. are just a
few examples
(China),
NTT DOCOMO, Inc. (Japan), China Mobile Ltd., Alcatel-Lucent (France), etc
(China)
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Market Segmentation
The Global 5G market has been segmented into component and application.
Based
on Component: Integration of backhaul or access Flexible duplex communication
as well as device-to-device connectivity
The
phantom cell's component is derived from a multi-layer network-related
architectural design. The idea scatters the user data plane and the control
plane between tiny and microcells that operate in a range of frequency bands.
Based
on Application: Applications for the 5G industry include: Consumer electronics
and automobiles, Retail manufacturers, the energy industry, and the healthcare
industry, Home automation devices
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Regional Analysis
The
5G market is regionally diverse, with different levels of adoption and growth
in different regions. Asia-Pacific is expected to be the largest market for 5G
due to the presence of major players such as China and South Korea, along with
the increasing demand for high-speed internet and mobile services in the
region. North America and Europe are also significant markets, driven by
increasing investments in 5G infrastructure and the growing demand for
high-speed connectivity. The Middle East and Africa and Latin America are also
expected to witness significant growth in the 5G market, driven by increasing
investments and the growing adoption of advanced technologies in these regions.
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