Portland, OR, Oct. 03, 2019 (GLOBE NEWSWIRE) -- According to the report, the global 5G technology market was estimated at $5.53 billion in 2020, and is expected to reach $667.79 billion by 2026, growing at a CAGR of 122.3% from 2020 to 2026. The report offers an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Surge in number of IoT devices, adoption of edge computing, increase in demand for content streaming services, and rise in demand for low latency connectivity in industrial automation fuel the growth of the global 5G technology market. On the other hand, small cell deployments challenges and implementation of fiber backhaul restrain the growth to certain extent. However, increase in investments in smart cities and opportunity in autonomous vehicles are expected to create multiple opportunities for the key players in the industry.
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The EMBB segment to rule the roost-
Based on connectivity, the EMBB segment contributed to more than three-fourths of the total market share in 2020 and is anticipated to dominate throughout 2020–2026. The MMTC segment, on the other hand, is projected to grow at the fastest CAGR of 145.1% by 2026.
The hardware segment to lead the trail during the study period-
Based on offering, the hardware segment accounted for more than half of the total market revenue in 2020 and is expected to maintain its top status till 2026. Simultaneously, the services segment would cite the fastest CAGR of 133.1% during 2020–2026.
Asia-Pacific garnered the highest market share in 2020-
Based on geography, the Asia-Pacific region held the major market share in 2020 and is anticipated to retain the lion’s share by 2026. The same segment would register the fastest CAGR of 130.7% during the estimated period.
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Frontrunners in the industry-
The key players analyzed in the report include Ericsson, Huawei Technology, T-Mobile, Intel Corporation, Qualcomm Inc., Deutsche Telekom AG, Orange S.A., Nokia, Telecom Italia, and Telstra. These players have incorporated different strategies including expansions, mergers & acquisitions, partnerships, joint ventures, collaborations, and others to heighten their stand in the market.
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