The fifth generation of cellular network technology, commonly known as 5G, has already gained popularity. It is anticipated to be commercialized next year. This analysis presented by Market Research Future (MRFR) reveals that the global 5G market is expected to register a stellar growth rate over the next couple of years. The market is projected to earn considerable amounts of revenue in the years to come. The technology is able to support a million devices per sq. Kilometer. This, in turn, is anticipated to catalyze the expansion of the 5G market in the forthcoming years.
The network is likely to exhibit much lesser latency as compared to other technologies available. It is prognosticated to impact the future trajectory of the 5G market positively over the review period. The rising awareness about the efficiency of cellular network technology is already supporting the growth of the 5G market. Also, the rising demand for high-speed data in commercial spaces is anticipated to benefit the market’s growth trajectory in the years to come. However, the existing network infrastructure for 4G and 3G services do not support the implementation of 5G services. Its implementation requires the overhaul of the entire infrastructure, which can pose a challenge to the market players.
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Based on components, the 5G market has been segmented into device-to-device communication, phantom cell, access/backhaul integration, and phantom cell.
On the basis of Application, the 5G market has been segmented into consumer electronics, automotive, retail, energy, utility, healthcare, home automation, and others.
This analysis of the global 5G market covers a detailed regional study that identifies four regions - North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW). These regions are then sub-segmented and analyzed into country-level basis. Asia Pacific is expected to exhibit rapid development over the next couple of years. China’s declaration that it will be launching its 5G services ahead of its schedule is likely to play a crucial role in the development of the 5G network market in the region. In addition, the investments in the network infrastructure are likely to catalyze the expansion of the regional market in the coming years. North America is a crucial market and is projected to be driven by the growth of the 5G market in the U.S. The market in the U.S. is likely to contribute significantly to market growth in the region.
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Verizon Wireless (U.S.), LM Ericsson (Sweden), AT&T Inc. (U.S.), Alcatel-Lucent (France), Huawei Technologies Co. Ltd. (China), China Mobile Ltd. (China), NTT DOCOMO, Inc. (Japan), Bharti Airtel Limited (India), and Vodafone Group PLC (UK) are few of the major participants of the global 5G market. These players are likely to employ organic and inorganic approaches over the next few years, such as product launches, product developments, mergers & acquisitions, technological innovations, partnerships, collaborations, etc.
In November 2019, a French multinational telecommunications corporation, Orange S.A., has partnered with Samsung for the launch of 5G services in Romania.
In November 2019, Xiaomi, a Chinese multinational technology company, has confirmed that the successors of its flagship K20, i.e., K30, will be 5G compatible smartphones.
In November 2019, Oppo, a Chinese consumer electronics and mobile communications company, has joint a 5G laboratory with Ericsson, a Swedish multinational networking and telecommunications company. This will deepen the ties between these companies in the area of 5G.
In October 2019, eir, Ireland’s largest communications service provider, has announced the launch of 5G services in the country.
In October 2019, China has confirmed that it will be launching 5G services ahead of its schedule. The move is also expected to give China an upper hand over the U.S.
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