New York, USA, May 10, 2021 (GLOBE NEWSWIRE) -- According to the latest report published by Research Dive, the global 5G new radio non-standalone architecture market is predicted to gain significant revenue in the forecast period,
Market Dynamics
The world today is working at a considerably fast pace which in turn requires an equally fast network connection. This requirement has been fulfilled by 5G which has an extremely high level of reliability, efficiency along with latency. The increasing demand has also led to the implementation of 5G new radio non-standalone technology on the already present LTE networks. It’s wide array of benefits have added to the growth of the market.
The new radio non-standalone markets are also facing a risk of decreasing consumer base due to the 5G becoming a primary form of technology being used. Many industries have also redirected the investments towards other infrastructural developments within the standalone technology sector. To add, a majority of the population still does not have access to 5G compatible devices which is one of the major restraining factors for the market.
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Yet, 5G is a revolutionary idea that is bound to enhance technology of various kinds such as, internet of things (IOT), smartphone applications, artificial intelligence (AI) and more. It is also working on the betterment of network facilities which will in turn be beneficial for many professionals and these initiatives will keep the market afloat.
5G network utilization by multiple modern-day technologies to create lucrative market opportunities for growth
5G network is expected to bring revolution in modern-day technologies and other services such as artificial intelligence (AI), internet of things (IoT), video-on-demand services, gaming industry, smartphone applications, and other computer-based technologies. These services are rigorously looking for better network facilities which can help in enhancing their indigenous operations and facilitate individual market growth. Growing adoption by these sectors for 5G new radio non-standalone network will create massive opportunities for market growth. The 5G technology will be able to capture most of the users of these technologies and services as well, which will require minimal expenditure and will provide maximum customer base growth for free. Further, usage of 5G networks in the gaming industry for augmented reality (AR) and virtual reality (VR) applications will propel the market growth by creating lucrative opportunities.
Segmental Analysis
The report categorizes the market into different segments by type and application.
Short Range Sub-segment to Hold a Prominent Place in the Market
As per the report, the short range sub-segment is set to hold a significant share in the market. This growth is due to the change in wavelength measured in millimeter waves. These waves range between 24 GHz to over 100 GHz and have the ability to transmit a considerable amount of data at a much faster rate as compared to 4G.
Manufacturing Sub-Segment to Dominate the Market
The manufacturing sub-segment is predicted to gain a significant revenue and grow at a fast pace in the forecast period. The various features of 5G such as - higher bandwidth and low level of latency have allowed manufacturers to switch things up in terms of factory setup which is set to help enhance the standards of production. Also, with automation becoming reality, smart factories have been primarily using 5G for the seamless functioning of the various equipment. This has been one of the leading factors for the growth of the market.
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Regional Analysis
The North American region is set to hold a prominent space in the 5G new radio non-standalone architecture market in the forecast period. The rising research and development process has helped in making 5G an effective technological advancement. The region holds the highest number of consumers willing to invest in the growth of the technology. Additionally, the gaming domain is also one of the popular reasons leading to the growth of the market.
Key Players of the Market
As per the report, some of the significant brands working on helping the market grow further are
- Telefonaktiebolaget LM Ericsson
- Sprint.com
- Telefónica S.A
- Vodafone Group
- Huawei Technologies Co., Ltd.
- Nokia
- Verizon Trademark Services, LLC
- AT&T
- Telstra
- BT
The report also provides an overview of many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments. For instance, in November 2021, Sprint.com, a pioneer in the communication services domain, launched a new cloud based commercial phone known as Omni. This is specifically built for small businesses such that they do not miss out on important work-related updates. It uses high speed internet to connect the business owners to the world.
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