5G Technology Market Size, Industry Trends, Outlook and Market Forecast | 2023 - 2030
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, 2023 - 2030
5G Technology Market Overview
[190 pages] Report on Global 5G Technology analyses the market size, shares, recent trends, competitive intelligence, and future market outlook. 5G Technology usage in faster communication and data transfer is on the rise. Demand from IT and Telecom in Asia Pacific is spiking. The Competitive rivalry intensifies with BT Group plc, Bharti Airtel Ltd, KT Corp, and others operating in the market.
The fifth-generation wireless technology with the potential to transform communication systems is the global 5G technology market. 5G technology offers low latency, faster speeds and other benefits. The respective network offers fast connections with increased capacity and low latency. It means faster downloads, less lag and significant implications for lives, work and play. 5G speed and other connectivity benefits are expected to make businesses more efficient and give consumers access to more information faster. The prior wireless technologies focused on mobile broadband. Fast 5G networks support IoT, machine-to-machine communications, remote medical care, autonomous vehicles, augmented reality and other emerging technologies that require real-time control and reliable connectivity. In short, the 5G technology will transform wireless communications in many ways.
5G Technology Market Scope and Summary
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Metrics |
Details |
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Market CAGR |
High |
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Segments Covered |
By Connectivity, By Product Application, By End-User, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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5G Technology Market Trends and Dynamics
Increasing the 5G technology in smartphone devices may drive market growth. However high cost of technology may hamper the market growth.
Increasing 5G technology demand in smartphones industrials
The 5G network technology increases the performance and dependability of the IoT. The introduction of 5G enabled the internet of things to extend the capabilities of sensor internet of actuators, robots and drones. It allows for distributed coordination, low latency and dependable job execution in the hands of humans. Furthermore, the IoT's commercial viability is contingent on its capacity to communicate with other IoT devices, smartphones and tablets, computer programs and other electronic equipment. The internet of things can connect and transport information quicker than ever before.
5G technology is a more excellent focus on smartphone standalone (SA). It includes CC's new radio NR carrier aggregation with the smart device's improved capabilities. The range of 5G smartphone models is now available in the mid-tier price segment. It shows that 5G smartphones are becoming increasingly affordable for more market segments. Therefore the 5G technology market is expected to grow in recent years.
The high cost of 5G technology services & the high risk of hacking may restrain the market growth
The 5G technology requires new infrastructure, such as towers and next-generation radio-access technology, to be installed for the operation. The high cost of 5G infrastructure depends on the required throughput density, period interest rate and base station prices. Thus, the 5G technology required a massive investment in the infrastructure. Therefore, Underdeveloped and some developing countries cannot afford the infrastructure prices. In the enterprise section, the company has to take the budget and the security of 5G networking is still under observation.
Further, the 5G network core is based on software-defined networking (SDN) and network function virtualization (NFV). SDN and NFV make heavy use of the HTTP and REST API protocols. The protocols are well-known and widely used on the internet. The tools for finding and exploiting vulnerabilities are available to any adversary and now the protocols will also be used on 5G networks. Therefore, 5G technology could also become as simple as hacking websites and servers. In the current situation with web security, despite the best efforts of the IT and security industries, well-protected websites are the exception rather than the rule. Software development is rife with mistakes that impact security. For instance, an average web application contains 33 vulnerabilities and 67 percent have high-risk vulnerabilities. Thus, the high risk of hacking poses a serious threat to the market.
COVID-19 impact analysis on 5G Technology Market
The global 5G technology market was deeply impacted due to the COVID-19 pandemic. The increase in internet services and the application of the device in various major industries have influenced the market for faster internet. Social distancing and workspace impact boost the 5G technology market. The adoption of SD-WAN in employees' workspaces is increased. Additionally, there is a big push towards IoT, AR/VR, computer vision autonomous systems and robotics used in industries that increase demand for 5G technology. Therefore, the COVID-19 pandemic positively impacts the 5G technology market.
5G Technology Market Segmentation Analysis
The global 5G technology market is segmented into connectivity, application, end-user and region.
IT & telecom industry dominates the market due to the capability of 5G to revolutionize the respective sector
The 5G technology market by end-user is further segmented into IT & telecom, automotive, government and others. IT and telecom are the largest end-user of the 5G technology market. The telecom is based on the connectivity segregation into mobile broadband, URLLC and massive machine type communication (MMTC). The connected vehicles, VR & AR, enhanced video services and other segments are some of the major advantages of 5g’s IT & telecom application. The telecommunications industry is also expected to benefit from the increased use of 5G networks. For instance, the healthcare industry is expected to use 5G networks to enable remote consultations and telemedicine.
Global 5G Technology Market Geographical Share
The global 5G technology market is segmented into connectivity, application, end-user and region.
Growing demand for 5G technology due to the rising population and presence of major players allow the market to grow in Asia-Pacific
Asia-Pacific has a leading regional share in the global 5G technology market. China and India have a high population of countries, resulting in increased subscribers for 5G technology. Thus, the 5G technology will be affected by the rising population and provide the demand for services. Further, it accounts for the largest market share due to its growing regional popularity. Demand for IT and telecom, massive machine type communication (MMTC), VR & AR and mobile broadband is increasing in China and India.
Additionally, many international and technology-developing companies are based in the Asia-Pacific, so it is expected to influence the 5G technology market in the future. Therefore, many mobile broadband companies are based in China and India, so it is expected to see growth in the future. The innovation regarding VR & AR, automotive and ultra-reliable low latency communication (URLLC) in the 5G technology market is set to develop in the future.
5G Technology Companies and Competitive Landscape
The global 5G technology market is competitive due to the wide range of different end-use applications. Some major players contributing to growth in the market are AT and T Inc., BT Group plc, China Mobile Ltd, China Telecom Corporation Ltd., Bharti Airtel Ltd, NTT Docomo, KT Corp, Saudi Telecom Company, Vodafone Group and Deutsche Telekom AG. The major players in the market adopt several growth strategies such as connected vehicle technology, enhanced video services, collaborations and joint ventures to contribute to growth in the industry.
AT and T Inc.
Overview: AT& T Inc. provides technology services, telecommunications and media. The company offers wireless communications, data, broadband and internet services. AT&T also develops, produces and distributes feature films, television, gaming and content in physical and digital formats. The business offered wholesale services, managed networking, local and long-distance telephone services and telecommunications equipment. Additionally, AT&T Inc. offers home consumers entertainment and advertising services under several brands, including AT&T fiber, AT&T Prepaid and Unefon. Asia-Pacific, North America, Europe, the Middle East, Africa and South America are all commercial hubs for the company. The AT&T company was established in October 1983 and is headquartered in Texas, U.S.
Product Portfolio
- AT&T Wireless Broadband: AT&T Wireless Broadband provides network connection and critical data support.
Key Developments:
- On February 2022, AT&T Inc. and IBM announced the plan to show the digital transformation potential of 5G wireless networking and edge computers. AT&T Inc. and IBM have created a simulated environment for enterprise clients to physically experience the power of AT&T Inc. connectively with hybrid cloud and AI technology from IBM.
- In January 2022, AT&T Inc. launched its 5G+ services in some population areas and venues areas and venues across Tampa, such as channel district Raymond James Stadium and Tampa International Airport in U.S.
The global 5G technology market report would provide approximately 61 market data tables, 60 figures and 190 pages.