Farmington, Jan. 10, 2023 (GLOBE NEWSWIRE) -- The Global 5G market is expected to grow at a 47.6% CAGR by the end of the global forecast to 2023-2030 with a market valuation of USD 198.44 Billion. A 5G wireless system or mobile network is a technology for wireless broadband or a network. The goal of the 5G market trend is to offer high-speed data and connection services to customers who want them. The goal of communication services is to connect and send data to customer devices like cell phones and tablets, laptops, PCs, iPads, etc. 5G is the next step after 4G in providing mobile data network services. Customers can get a lot out of the 5G market because of how it works. The main goal of the market is to lower the cost of services compared to what customers are paying for them on their current networks.
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Recent Developments:
- Huawei is also emerging as a major supplier in telecom networks. Rollouts are taking place in countries such as APAC, the US and Europe. The companies are also looking for collaboration and merger opportunities until the end of the global forecast through 2022.
- Not only M2M but also IoT are technologies that belong to 5G communication networks. Adoption of 5G network services may take time, but we speculate that there will be many growth opportunities for these two in various areas such as defense, healthcare, industry, aerospace, and more.
Segment Analysis:
The architecture of a phantom cell involves a multilayer network, which is where the components of the cell come from. This idea makes use of a variety of frequency bands in order to drain both the control plane and the user data plane that is shared across small cells and microcells.
Regional Outlook:
The geographic scope of this 5G market analysis includes Europe, North America, countries in the Asia-Pacific region, and the rest of the world. It is anticipated that the market for 5G in North America would be busy. The United States of America and Canada are moving quickly to invest in technological benefits at an early stage and are deploying 5G in a variety of industrial settings. It is also anticipated that countries located in Europe will acquire a significant portion of the market share. The Asia Pacific area can be found immediately to the east of these countries. During the global forecast period that will finish in 2022, the countries of Asia Pacific are anticipated to see growth that is consistent. Until the conclusion of the future forecast, this is not expected to occur until 2022.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 47.6% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 198.44 Billion |
| By Type | mMTC and URLLC, eMBB, FWA, Other |
| By Applications | Smart Cities, Connected Factories, Smart Buildings, Connected Vehicles, Connected Healthcare, Connected Retail, Smart Utilities, Broadband, Voice, Other |
| By Components | Phantom cells, Access or Backhaul integration, Device-to-device, as well as, flexible duplex communication, Other |
| By Companies | Bharti Airtel Limited (India), LM Ericsson (Sweden), Verizon Wireless (U.S.), Vodafone Group PLC (UK), AT&T Inc. (U.S.), Huawei Technologies Co. Ltd. (China), NTT DOCOMO, Inc. (Japan), Alcatel-Lucent (France), China Mobile Ltd. (China) |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Drivers:
The primary objective of the 5G market trend is to supply data at 5G speeds at prices that are competitive with the market. The target demographic makes considerable use of data consumption, which suggests that they may be able to play a big part in the process of building a strong presence in the 5G market network. It is also anticipated that the 5G technology will greatly cut down on the consumption of electricity. All of these elements work together to act as primary growth drivers for the market, which ultimately results in an increased market share.
Key Segments Covered:
Top Market Players:
Bharti Airtel Limited (India), LM Ericsson (Sweden), Verizon Wireless (U.S.), Vodafone Group PLC (UK), AT&T Inc. (U.S.), Huawei Technologies Co. Ltd. (China), NTT DOCOMO, Inc. (Japan), Alcatel-Lucent (France), China Mobile Ltd. (China), and others.
By Type
- mMTC and URLLC
- eMBB
- FWA
- Others
By Components
- Phantom cells
- Access or Backhaul integration
- Device-to-device, as well as, flexible duplex communication
- Other
By Application
- Smart Cities
- Connected Factories
- Smart Buildings
- Connected Vehicles
- Connected Healthcare
- Connected Retail
- Smart Utilities
- Broadband
- Voice
- Other
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
Check out more related studies published by Contrive Datum Insights:
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- Smart Connected Street Lights Market - The Smart Street Lights Market is expected to grow at a 23.4% CAGR and help the market reach a final valuation of 14,751.1 Million by the end of the forecast period in 2030. In the last few years, the North American market for smart street lighting is expected to have grown very quickly.
- Mobile Virtual Network Operator Market - The global mobile virtual network operator (MVNO) market size reached US$ 73.1 Billion in 2022. Looking forward, the market expects to reach US$ 119.6 Billion by 2030, exhibiting a growth rate (CAGR) of 7.36% during 2023-2030. In 2019, Europe ruled the market for mobile virtual network operators.
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