5G technology market worth $241.5 billion by 2029 –

REDING, Calif., Sept. 21, 2022 (GLOBE NEWSWIRE) — According to a new market research report titled: 5G technology market By Component (Hardware, Software and Services), Connectivity (Enhanced Mobile Broadband (eMBB), Massive Machine Type Communication (mMTC), Ultra Reliable and Low Latency Communication (URLLC)) – Global Forecast to 2029, The 5G technology market is expected to reach $241.5 billion by 2029, growing at a CAGR of 42.2% during the forecast period 2022-2029.
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5G technology is the 5th generation mobile network and is an evolution of the current 4G LTE network. It offers higher multi-Gbps peak data speeds, ultra-low latency, higher reliability, massive network capacity, higher availability, and a unified user experience.

The 5G technology market is driven by the substantial growth in mobile data traffic on 4G networks, the need for ultra-low latency network connections, and growing investments in 5G technology. Additionally, connected factories, automation, and smart city initiatives are expected to provide significant growth opportunities for the 5G technology market. However, the delay in standardization of spectrum allocation may restrain the market growth to some extent.

COVID-19 to 5G technology market

The COVID-19 pandemic has adversely affected the global economy. Nationwide lockdowns and social distancing norms in multiple countries have negatively impacted several industries, including the 5G technology industry. Many 5G technology providers are under intense pressure due to uncertainty about the duration of the lockdown, making it difficult for major market players to predict the recovery of the 5G technology market.

However, as economies are shifting their focus from responding to the pandemic to economic recovery, various growth opportunities are expected to arise among 5G technology market players owing to the rising demand for ultra-low latency network connections and increasing investments in 5G network technologies.

However, some companies are pushing the 5G technology market in the right direction. Local governments are also taking some relief measures to mitigate the negative impact of the COVID-19 pandemic. Therefore, the 5G technology market is expected to return to its original trajectory after 2023.

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Provides efficient analysis, meticulous research® Analyzed by component (hardware, software, and services), connectivity (enhanced mobile broadband, massive machine-type communications, and ultra-reliable low-latency communications) and geography (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) . The study also evaluates industry competitors and analyzes regional and country-level markets.

component basedThe hardware segment is expected to account for the largest share of the 5G technology market by 2022. The large market share of this segment is attributed to the increasing need to reduce OPEX and CAPEX, the increasingly robust deployment of 5G RAN with multiple small cell and macrocell base stations, and the growing implementation of virtual RAN that is rapidly increasing in network service provision to reduce network complexity. This segment is also expected to register the highest CAGR during the forecast period.

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connectivity basedThe enhanced mobile broadband (eMBB) segment is expected to account for the largest share of the 5G technology market by 2022. The huge market share of this segment is attributed to the increasing penetration of smartphones and the need for high bandwidth in order to provide reliable communication for wireless devices. Additionally, the growing demand for high-speed and low-latency data networks for residential and commercial applications, such as video conferencing and conferencing, and virtual reality (VR) and augmented reality (AR) gaming, is driving this growth area.

based on geographyThe Asia-Pacific region is expected to hold the largest share of the global 5G technology market by 2022. The presence of prominent players in the region offering 5G technology is one of the major factors driving the growth of the segment in this region. Growing adoption of advanced technologies such as IoT and M2M communication, as well as strong government initiatives are also driving the growth in the region.

In addition, the development of infrastructure in the Asia-Pacific region, especially China, South Korea and Japan, as well as the increasing investment in 5G network technology and smart city initiatives by developed and developing countries, has created huge opportunities for the 5G technology market. This region will also witness the highest CAGR during the forecast period.

Some of the key players operating in the 5G technology market are Nokia Corporation (Finland), Cisco Systems. (United States), Huawei Technologies Co., Ltd. (China), Telefonaktiebolaget LM Ericsson (Sweden), Qualcomm Technologies, Inc. (United States), Ciena Corporation (United States), Verizon Communications Inc. (United States), Intel Corporation (United States), Deutsche Telekom Corporation (Germany), Samsung Electronics Co., Ltd. (South Korea), Extreme Networks (US), DISH Network Corporation (US), NEC Corporation (US), Parallel Wireless, Inc. (US), AT&T (US), Fujitsu Co., Ltd. ( Japan), Mavenir Systems, Inc. (U.S.), ZTE (China), Comba Communications Systems (China), and Crown Castle (U.S.).

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Report Scope

5G technology marketin the component

  • hardware
    • base station
      • macrocell
      • small cell
        • picocell
        • Femtocell
        • subway unit
    • wireless access network
      • baseband unit
        • distributed unit
        • centralized unit
    • transporting network
      • future
      • return trip
      • halfway
    • Core Network
      • gateway
      • Other core networks (AMF, SMF and UPF)
    • antenna
    • other hardware
  • software
  • Serve

5G technology market, connecting

  • Enhanced Mobile Broadband (eMBB)
  • Massive Machine Type Communication (mMTC)
  • Ultra-Reliable Low-Latency Communication (URLLC)

5G technology marketin geography

  • North America
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
    • Spain
    • Sweden
    • Netherlands
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Singapore
    • South Korea
    • Australia and New Zealand
    • Rest of Asia Pacific
  • Latin America
  • Middle East and Africa

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