Portland, OR, June 04, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global small cell 5G network industry accounted for $344 million in 2018 and is projected to reach $6.87 billion by 2026, registering a CAGR of 45.3% from 2019 to 2026. The report provides a comprehensive analysis of key market trends, driving factors & opportunities, major segments, value chain, product portfolio, and competitive landscape.
Increase in network densification, growing mobile data traffic, advent of Citizens Broadband Radio Service (CBRS) band, and rise in investment in 5G infrastructure by several economies have boosted the growth of the global small cell 5G network market. However, small cell deployment challenges and concerns regarding fiber backhaul are the factors that hamper the market growth. On the other hand, emergence of Internet of Things (IoT), and increase in demand for ultra-reliable low latency communications are expected to offer lucrative opportunities in the near future.
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The small cell 5G network market is segmented into component, radio technology, frequency band, cell type, applications, and region. Based on component, the market is bifurcated into solution and services. The solutions segment accounted for the largest share in 2018, contributing to more than two-thirds of the global small cell 5G network market. However, the services segment is anticipated to register the fastest CAGR of 48.4% during the forecast period.
Based on frequency band, the market is categorized into low-band, mid-band, and millimeter wave. The millimeter wave segment is projected to manifest the fastest CAGR of 51.5% during the study period. However, the mid-band segment contributed to the largest share in 2018, accounting for nearly half of the global small cell 5G network market.
Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The North America region dominated the market in 2018, accounting for nearly half of the market and is anticipated to maintain its dominance throughout the forecast period. Moreover, the Asia-Pacific region is expected to register the fastest CAGR of 52.3% through 2026.
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The key players operating in the global small cell 5G network industry include Samsung Electronics Co., Ltd., Ericsson, Cisco Systems, Inc., CommScope, Fujitsu Limited, Airspan Networks Inc., Huawei Technologies, NEC Corporation, Nokia Corporation, and ZTE Corporation.
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