5G Technology Market, Size, Share, Growth, Trends, Insight and Industry Forecast, 2021-2028

SKU: DMIC1939 | Last Updated On: Jul 08 2021 | No. of Pages: 180 | Available Formats

> Global 5G Technology Market Expected to reach a high CAGR of 98.17% By 2028: DataM Intelligence

Global 5G Technology Market is segmented By Application (Automobiles, Energy & Utilities, Retail, Intelligent Buildings & Infrastructures, Industrial Automation, Consumer Electronics, Public Infrastructure, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2021-2028

 

Market overview

5G networks are digital cellular networks in which providers' service areas are divided into small geographical areas called cells. 5G technology will provide "connectivity" that is virtually ubiquitous, ultra-high bandwidth, and low latency not only to individual users but also to connected objects. The Global 5G Technology Market is expected to grow at a CAGR of 98.17% during the forecasting period.

5G Technology Market

Market Dynamics

Drivers

Rising demands for mobile data services is expected to boost the market for 5G technology.

With the increased use of smart mobile phones and tablets around the world, there is a high demand for 5G enabled devices. According to data, approximately 40% of the world's total population owned a smart device in 2018, and the smartphone penetration rate reached nearly 50% in 2020. This has prompted mobile manufacturing vendors to release new 5G-enabled phones into the market. For example, in February 2019, Samsung jumped into 5G industry by releasing the Samsung Galaxy S10 5G, a super-fast variant of the Samsung Galaxy S10. According to data, in 2019, 5G-enabled smartphones accounted for approximately 1% of total smartphone shipments worldwide, which increased to around 20% in 2020. It is forecasted that 5G-enabled smartphones will surpass 4G shipments by 2023, comprising almost 70% of all smartphone shipments. The global number of 5G subscriptions also increased in the past decade and are expected to grow during the forecast period. According to data provided by Global Mobile Suppliers Association, 5G subscriptions more than doubled in the second quarter of 2020 and reached approximately 138 million worldwide (representing 1.5 percent of the entire global mobile market). The high internet speeds that are attained by using 5G networks attracts customers to buy more 5G-enabled devices, and these factors are expected to drive the 5G Technology market in the forecast period.

Rising demands for smart electronic devices is expected to boost the market.

The rise in the number of connected smart devices around the world as a result of the Internet of Things (IoT) will drive the 5G technology market during the forecast period. Smartphones are the most widely used devices in the IoT consumer internet and media devices segment, serving as connectors for a wide range of smart devices. In 2020, according to data, the global Internet of Things (IoT) market was estimated to be worth around 390 billion US dollars, and this number is expected to grow during the forecast period. The increasing adoption and large investment in smart cities by various countries around the world will necessitate the use of large connected devices such as smart meters, smart grid, smart, smart video surveillance, and others.  For example, the Government of India (GoI) announced the addition of 30 new cities to the Smart Cities Mission, bringing the total number of proposed smart cities to 90. As a result, by 2020, it is expected that more than 50 billion devices will be connected to mobile networks worldwide. According to the proposed investments, 80% of the funds would be spent on area-based development and the remaining 20% on ICT solutions. These factors are expected to boost the 5G Technology market.

Restraints

The factors restraining the Global 5G Technology Market include high initial infrastructural and operational costs.

COVID-19 Impact Analysis

The COVID-19 pandemic has had a significant impact on industries all over the world, including the 5G technology industry. Many CSPs (Consumer Service Providers) around the world began 5G network trials and rollouts in 2019. Several countries were preparing for the rollouts through spectrum auctions, infrastructure contracts, and other initiatives. Due to the pandemic, CSPs have provided remote working and connectivity for citizens, extensions to data consumption packages, and additional quota during global lockdowns. As a result, the consumer and enterprise transition to 5G will be delayed due to limited coverage and a shortage of component supply due to the current supply chain enablement situation, delaying the growth of the 5G market. In the case of other industries, the impact of 5G technology will be different. 5G is expected to have the greatest impact on the healthcare sector. According to a WIPRO report, containment and distancing will drive the adoption of remote consulting, AR/VR/Robotics assisted procedures, robotics in isolated patient care, drones and computer vision in critical patient care, and containment. The food and pharmaceutical industries are expected to increase their use of IoT in transportation and delivery, aided by 5G and blockchain. This is done to ensure the consignment's safety as well as the absence of contamination during transit.

Segment Analysis

Based on Application

The Global 5G Technology Market based on application is segmented into Automobiles, Energy & Utilities, Retail, Intelligent Buildings and Infrastructures, Industrial Automation, Consumer Electronics and Others.

5G Technology Market

Intelligent buildings and infrastructure have a dominant position in the 5G Technology market and are expected to maintain their dominance over the forecasted period due to an increase in urban population combined with an increase in internet penetration in developing countries such as Brazil, China, and India. The automotive industry is expected to grow at the next highest CAGR during the forecast period due to growing demand for smart and connected vehicles. The modern automobile is rapidly evolving into a sensor-laden mobile Internet of Things device, complete with significant on-board computing power and communication systems. All of these systems, among others, make use of cellular and 5G technologies. 5G service offers improved coverage, increased capacity, lower latency, and much faster data speeds. For example, Ericsson announced plans in December 2019 to integrate its Connected Vehicle Cloud, which will connect approximately 4 million vehicles across 180 countries worldwide. Cloud computing makes use of 5G networks and IoT. According to data, the global connected car market was approximately worth around 55 billion US dollars in 2020 and this number is expected to grow during the forecast period.

Based on Region

The Global 5G Technology market based on Region is segmented into Europe, North America, South America, Asia-Pacific, Middle East & Africa.

Because of the rise in autonomous vehicles, the video-on-demand market, and the growing trend in smart cities, North America has the largest market share for 5G Technology. North American video-on-demand (VOD) services account for roughly 50% of the global market share in VOD services. Further, the development of fully automated vehicles in the region will boost the market for 5G technology because the low latency of 5G networks allows connected cars to access real-time weather conditions, making the journey safe and secure. Moreover, the region's growing demand for 5G-enabled smartphones will drive the market for 5G technology. Approximately two million 5G smartphones were sold in the United States during 2019, the first year of 5G rollout. This amounts to about 1% of total smartphone sales in the country. This number is expected to grow during the forecast period. According to data, Apple ranked first among vendors in the global rankings for 5G smartphone shipments in the first quarter of 2021, with approximately 40 million units shipped. North East Asia, followed by North America and Western Europe, is expected to have the greatest number of 5G mobile subscriptions during the forecast period. The APAC region is expected to grow at the highest CAGR during the forecast period. High demand for 5G technology, as well as support from the Chinese and Indian governments, will drive the APAC market for 5G technology. According to data, OPPO, a Chinese smartphone manufacturer, ranked second, with approximately 22 million shipped globally in 2021.

Competitive Landscape

Global 5G Technology is a competitive and highly fragmented market with a number of global and regional players. To maintain market competition, key players are implementing strategies such as investing in R&D, launching new products, and expanding 5G technology. Qualcomm, Intel, Ericsson, Samsung, AT&T, Huawei, Nokia, MediaTek, Cisco, Cavium, Analog Devices, Verizon Communications, SK Telecom, and T-Mobile are among the major players.

For instance, L&T Technology Services, an IT company, announced a partnership with telecom gear maker Mavenir in June 2021 to provide end-to-end 5G automation services.

Company Profile: Qualcomm

Overview: Qualcomm is a multinational corporation based in San Diego, California, that was founded in Delaware. It is a semiconductor company that develops and commercializes wireless industry technologies. It was founded in 1985 and is headquartered in San Diego, California.

Product Portfolio: The company specialises in the design and distribution of integrated circuits and system software based on 3G/4G/5G and other technologies for use in mobile devices, wireless networks, and other consumer electronics devices.

Recent Developments: 1) In June 2021, Qualcomm Technologies announced its second-generation Qualcomm 5G RAN Platform for Small Cells (FSM200xx), making it the industry's first 3GPP Release 16 5G Open RAN platform.

2) In July 2021, Qualcomm Technologies, Inc. and Capgemini announced plans to collaborate in order to unlock the benefits of 5G private networks in order to support their clients' digital transformation to Intelligent Industry.

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Table of Contents

  1. Global 5G Technology Market Methodology and Scope

    1. Research Methodology
    2. Research Objective and Scope of the Report
  2. Global 5G Technology Market – Market Definition and Overview

  3. Global 5G Technology Market – Executive Summary

    1. Market Snippet by Application
    2. Market Snippet by Region
  4. Global 5G Technology Market Dynamics

    1. Market Impacting Factors
      1. Drivers
        1. Rising demand for mobile data services
        2. Growth of connected smart devices
      2. Restraints
        1. High initial infrastructure cost
    2. Impact Analysis
    3. Opportunities
  5. Global 5G Technology Market – Industry Analysis

    1. Porter's Five Forces Analysis
    2. Supply Chain Analysis
  6. Global 5G Technology Market – By Application

    1. Introduction
      1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application segment,2020-2028
      2. Market Attractiveness Index, By Application segment
    2. Automobiles*
      1. Introduction
      2. Market Size Analysis and Y-o-Y Growth Analysis (%)
    3. Energy & Utilities
    4. Retail
    5. Intelligent Buildings & Infrastructures
    6. Industrial Automation
    7. Consumer Electronics
    8. Public Infrastructure
    9. Others
  7. Global 5G Technology Market – By Region

    1. Introduction
      1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Region,2020-2028
      2. Market Attractiveness Index, By Region
    2. North America
      1. Introduction
      2. Key Region-Specific Dynamics
      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application,2020-2028
      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country,2020-2028
        1. The U.S.
        2. Canada
        3. Mexico
    3. Europe
      1. Introduction
      2. Key Region-Specific Dynamics
      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application,2020-2028
      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country,2020-2028
        1. Germany
        2. The U.K.
        3. France
        4. Italy
        5. Spain
        6. Russia
        7. Rest of Europe
    4. South America
      1. Introduction
      2. Key Region-Specific Dynamics
      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application,2020-2028
      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country,2020-2028
        1. Brazil
        2. Argentina
        3. Chile
        4. Colombia
        5. Rest of South America
    5. Asia Pacific
      1. Introduction
      2. Key Region-Specific Dynamics
      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application,2020-2028
      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country,2020-2028
        1. China
        2. Japan
        3. South Korea
        4. India
        5. Indonesia
        6. Australia
        7. Rest of Asia Pacific
    6. The Middle East and Africa
      1. Introduction
      2. Key Region-Specific Dynamics
      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application,2020-2028
  8. Global 5G Technology Market – Competitive Landscape

    1. Competitive Scenario
    2. Market Positioning/Share Analysis
    3. Mergers and Acquisitions Analysis
  9. Global 5G Technology Market - Company Profiles

    1. Qualcomm*
      1. Company Overview
      2. Product Portfolio and Description
      3. Key Highlights
      4. Financial Overview
    2. Intel
    3. Ericsson
    4. Samsung
    5. Qorvo
    6. AT&T
    7. Huawei
    8. Nokia
    9. MediaTek
    10. Cisco
    11. Cavium
    12. Analog Devices
    13. Verizon Communications
    14. SK Telecom
    15. T-Mobile
  10. Global 5G Technology Market – Premium Insights

  11. Global 5G Technology Market – DataM

    1. Appendix
    2. About Us and Services
    3. Contact Us

List of Tables & Figures

List of Tables

Table 1 Global 5G Technology Market Value, By Application, 2020,2024,2028 ($ Million)

Table 2 Global 5G Technology Market Value, By Region, 2020,2024,2028 ($ Million)

Table 3 Global 5G Technology Market Value, By Application, 2020,2024,2028 ($ Million)

Table 4 Global 5G Technology Market Value, By Application, 2020-2028 ($ Million)

Table 5 Global 5G Technology Market Value, By Region, 2020,2024,2028 ($ Million)

Table 6 Global 5G Technology Market Value, By Region, 2020-2028 ($ Million)

Table 7 North America 5G Technology Market Value, By Application, 2020-2028 ($ Million)

Table 8 North America 5G Technology Market Value, By Country, 2020-2028 ($ Million)

Table 9 South America 5G Technology Market Value, By Application, 2020-2028 ($ Million)

Table 10 South America 5G Technology Market Value, By Country, 2020-2028 ($ Million)

Table 11 Europe 5G Technology Market Value, By Application, 2020-2028 ($ Million)

Table 12 Europe 5G Technology Market Value, By Country, 2020-2028 ($ Million)

Table 13 Asia-Pacific 5G Technology Market Value, By Application, 2020-2028 ($ Million)

Table 14 Asia-Pacific 5G Technology Market Value, By Country, 2020-2028 ($ Million)

Table 15 Middle East & Africa 5G Technology Market Value, By Application, 2020-2028 ($ Million)

Table 16 Qualcomm: Overview

Table 17 Qualcomm: Product Portfolio

Table 18 Qualcomm: Key Developments

Table 19 Intel: Overview

Table 20 Intel: Product Portfolio

Table 21 Intel: Key Developments

Table 22 Ericsson: Overview

Table 23 Ericsson: Product Portfolio

Table 24 Ericsson: Key Developments

Table 25 Samsung: Overview

Table 26 Samsung: Product Portfolio

Table 27 Samsung: Key Developments

Table 28 Qorvo: Overview

Table 29 Qorvo: Product Portfolio

Table 30 Qorvo: Key Developments

Table 31 AT&T: Overview

Table 32 AT&T: Product Portfolio

Table 33 AT&T: Key Developments

Table 34 Huawei: Overview

Table 35 Huawei: Product Portfolio

Table 36 Huawei: Key Developments

Table 37 Nokia: Overview

Table 38 Nokia: Product Portfolio

Table 39 Nokia: Key Developments

Table 40 MediaTek: Overview

Table 41 MediaTek: Product Portfolio

Table 42 MediaTek: Key Developments

Table 43 Cisco: Overview

Table 44 Cisco: Product Portfolio

Table 45 Cisco: Key Developments

List of Figures

Figure 1 Global 5G Technology Market Share, By Application, 2020-2028 (%)

Figure 2 Global 5G Technology Market Share, By Region, 2020-2028 (%)

Figure 3 Global 5G Technology Market Value, 2020-2028 ($ Million)

Figure 4 Global 5G Technology Market Y-o-Y Growth, By Application, 2020-2028 (%)

Figure 5 Automotive: Global 5G Technology Market Value, 2020-2028 ($ Million)

Figure 6 Energy & Utilities: Global 5G Technology Market Value, 2020-2028 ($ Million)

Figure 7 Retail: Global 5G Technology Market Value, 2020-2028 ($ Million)

Figure 8 Intelligent Buildings & Infrastructures: Global 5G Technology Market Value, 2020-2028 ($ Million)

Figure 9 Industrial Automation: Global 5G Technology Market Value, 2020-2028 ($ Million)

Figure 10 Consumer Electronics: Global 5G Technology Market Value, 2020-2028 ($ Million)

Figure 11 Public Infrastructure: Global 5G Technology Market Value, 2020-2028 ($ Million)

Figure 12 Others: Global 5G Technology Market Value, 2020-2028 ($ Million)

Figure 13 Global 5G Technology Market Y-o-Y Growth, By Region, 2020-2028 (%)

Figure 14 North America 5G Technology Market Value, 2020-2028 ($ Million)

Figure 15 North America 5G Technology Market Share, By Application, 2020-2028 (%)

Figure 16 North America 5G Technology Market Share, By Country, 2020-2028 (%)

Figure 17 South America 5G Technology Market Value, 2020-2028 ($ Million)

Figure 18 South America 5G Technology Market Share, By Application, 2020-2028 (%)

Figure 19 South America 5G Technology Market Share, By Country, 2020-2028 (%)

Figure 20 Europe 5G Technology Market Value, 2020-2028 ($ Million)

Figure 21 Europe 5G Technology Market Share, By Application, 2020-2028 (%)

Figure 22 Europe 5G Technology Market Share, By Country, 2020-2028 (%)

Figure 23 Asia-Pacific 5G Technology Market Value, 2020-2028 ($ Million)

Figure 24 Asia-Pacific 5G Technology Market Share, By Application, 2020-2028 (%)

Figure 25 Asia-Pacific 5G Technology Market Share, By Country, 2020-2028 (%)

Figure 26 Middle East & Africa 5G Technology Market Value, 2020-2028 ($ Million)

Figure 27 Middle East & Africa 5G Technology Market Share, By Application, 2020-2028 (%)

Figure 28 Qualcomm: Financials

Figure 29 Intel: Financials

Figure 30 Ericsson: Financials

Figure 31 Samsung: Financials

Figure 32 Qorvo: Financials

Figure 33 AT&T: Financials

Figure 34 Huawei: Financials

Figure 35 Nokia: Financials

Figure 36 MediaTek: Financials

Figure 37 Cisco: Financials

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