According to a new
market research report published by Inkwood Research, the Global 5G
Infrastructure Market is projected to record a CAGR of 63.55% during the forecasting
years of 2020-2025.
“Browse 16 Market Data Tables and 40 Figures
spread over 173 Pages, along with an in-depth TOC on the Global 5G Infrastructure Market Forecast
2020-2025.”
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5G is an
advanced cellular technology that will provide fast and authentic communication
at shallow latency levels. 5G covers the entire network of software, hardware,
and services that are crucial for the application of 5G networks. 5G technology
is expected to redefine entertainment, communication, and internet
connectivity. 5G technology can operate within the high-frequency spectrum that
facilitates faster data delivery. The companies operating in the market have
adopted strategies such as partnership, collaboration, R&D, acquisition,
and product launch to increase their market share and expand their geographical
presence.
Rising
Demand for High Speed Internet boosts Market Growth
The growing number of smartphones, computers, laptops, and
other connected devices results in an immense need for developing advance
network solutions. Due to the amalgamation of industry 4.0 and IoT, most of the
devices, machinery, equipment, autonomous vehicle, among others, are connected
to each other and require network solutions with high speed and large network coverage
areas. Besides, due to the impending need for high-speed networks with large
coverage areas, telecom giants are developing advance network solutions for
consumers. Presently, the telecom industry is at the top of technological
advancement, which, in turn, is expected to further develop the concept of a 5G
network solution. Network partners, telecom service providers, chipset
manufacturers, as well as numerous research institutes and innovation centers,
are investing considerable amounts in R&D to develop 5G network solutions.
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Consumer
Electronics Holds the Largest Market Share in the Industrial Vertical Segment
The introduction of 5G networks is anticipated to signify
high speed and reduced latency in the future. The growing population is
expected to significantly support the overall demand for a 5G rollout. Since
most people are used to smartphones and tablets, the use of virtual and
augmented reality devices such as headsets is expected to enhance user
experience. The future rollout of 5G would imply a higher number of smartphones
and tablets since a large number of users are expected to experience services
offered by 5G networks. Most of the top smartphone manufacturing companies such
as Apple, Samsung, and Huawei, among others, are currently working on producing
smartphones that will be compatible with 5G networks.
Asia
Pacific Projected to Register the Highest CAGR
The Asia Pacific is estimated to be the fastest-growing
region in the global 5G infrastructure market, owing to significant initiatives
by the government in major economies towards deployment of the 5G spectrum. For
example, the central government of China is trying to position a 5G network in
China to increase earnings from the domestic market and develop industrial
systems. Moreover, the government of South Korea is also supporting the
telecommunications providers in the development of 5G. The demand for digital
applications is increasing due to the vast presence of the younger population
in the Asia Pacific region, including media, social gaming, and online video
consumption.
There are a number of companies operating in the market,
such as AT&T, Cisco Systems Inc, Nokia, Orange, Vodafone Group PLC, etc.
among others. However, the 5G infrastructure market is dominated by few
well-established players, and the competition is moderate, since it is the
initial stage of development.
About Inkwood
Research
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research reports and consulting services. Market intelligence studies with
relevant fact-based research are customized across industry verticals such as
technology, automotive, chemicals, materials, healthcare, and energy, with an
objective comprehension that acknowledges the business environments. Our
geographical analysis comprises of North & South America, CEE, CIS, Middle
East, Europe, Asia, and Africa.
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