New York, US, Dec. 09, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Next Generation Wireless Communication Market information by Technology, by Application and Region – forecast to 2027” market size to grow at a compound annual growth rate of 15.4% by 2027.
Market Scope:
The advent of industrial 4.0, IoT, and increasing technological and automation investments are demanding effective networks that will offer robust opportunities for the market over the forecast period. Technologies which address such needs including asset monitoring, transportation, security, are boosting the market for next-generation communication like wireless sensors network, Li-Fi, and 5G, are fuelling market growth.
Besides, high speed, increasing usage and applications, low prices, increasing use of internet of things, robust growth in the mobile industry, innovation of new services and products, and rising consumer needs are also adding market growth. Also, the next generation communication technology serves different applications like telecommunication industry, consumer electronics, healthcare, automation, smart grids, aerospace and defense, automotive, and others. This is also boosting market growth.
Dominant Key Players on Next Generation Wireless Communication Market Covered are:
- Qualcomm (U.S.) Huawei (China)
- AT&T (U.S.)
- IBM Corporation (U.S.)
- Cisco Systems (U.S.)
- NEC (Japan)
- Netgear Inc. (U.S.)
- Intel Corporation (U.S.)
- ZTE Corporation (China)
- Ericsson (U.S.)
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Market USP Exclusively Encompassed:
Market Drivers
Increasing Applications of Wireless Technology to Boost Market Growth
The increasing applications of wireless technology such as industrial machines, household appliances, and self-driving cars will boost market growth over the forecast period.
High Cost to act as Market Restraint
The high cost of infrastructure and development may act as a market restraint over the forecast period.
Lack of Communication Standards to act as Market Challenge
The lack of communication standards coupled with improved power consumption which sparks different environmental issues may act as market challenges over the forecast period. Besides, the trade between the flexibility of use and the platforms, high initial investment, compatibility issues with old devices, and the interoperability with existing technology may also impede market growth.
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https://www.marketresearchfuture.com/reports/next-generation-wireless-communication-market-1148
Segmentation of Market Covered in the Research:
The global next generation wireless communication market is bifurcated based on technology and application.
By technology, the next generation wireless communication market is segmented into 5G, 4G LTE, 3G, and wireless LAN.
By application, the next generation wireless communication market is segmented into healthcare, automotive, retail, aerospace and defence, telecommunication, and consumer electronics.
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Regional Analysis
North America to Precede Next Generation Wireless Communication Market
North America will precede the next generation wireless communication market over the forecast period. Constant technological development, the presence of developed countries such as US and Canada, infrastructural investments in communication technologies in the US and Canada, the presence of global players, the high accessibility of bandwidth, and growth in IoT are adding to the global next generation wireless communication market growth in the region. Besides, the increasing 5G network rollouts, telecom players and smartphone OEMs rapidly gearing towards the shift to 5G network, the growing need for advanced technologies like AI, connected cars, and machine to machine communication, the growth of IoT, wide network coverage, and top leaders such as AT & T Inc, Cisco Systems Inc, and Qualcomm Technologies making huge investments in next generation wireless network for the high availability of bandwidth are also adding to the growth of the market in the region. Canada and the US hold the utmost market share in respect of the innovation of technology, adoption of technology, and the aspect of technology.
APAC to Have Favorable Growth in Next Generation Wireless Communication Market
The APAC region will have favorable growth in the next generation wireless communication market over the forecast period. The presence of several developing countries like India, Japan, and China and the constant development of Asian countries are adding to the global next generation wireless communication market growth in the region.
COVID-19 Impact on the Global Next Generation Wireless Communication Market
The global next generation wireless communication market has been affected both negatively and positively in recent months owing to the COVID-19 outbreak in December 2019. The outbreak has led in several countries imposing lockdowns as well as halting businesses apart from essential services that were allowed with minimal workforce. Other businesses were directed to follow the trends of work from home that led to a mixed need for next generation wireless communication which includes Bluetooth, Wi-Fi, 5G, 4G LTE, 3G, WiMAX, digital TV broadcasting, and wireless LAN. The global next generation wireless communication market however has declined moderately in the recent months for the temporary shutting down of businesses. The demand for consumer wireless equipment however has experienced a positive impact. A key driver is the constant technological advances. The market however is likely to recover in the days to come with the gradual lifting of lockdown in a phased manner.
Competitive Analysis
The global next generation wireless communication market is both fragmented as well as competitive for the presence of different international and also domestic industry players. These players have utilized innumerable innovative strategies for remaining at the vanguard and also sufficing to the rising need of the customers including contracts, partnerships, collaborations, contracts, new product launches, joint ventures, geographic expansions, and more. Further, they are also investing in numerous research and development activities.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
