5G Market - Trends Forecast Till 2028

5G Market, By Communication Type (FWA, eMBB, uRLLC, eMBB), Services (Professional Services and Managed Services), Network Technology (Software-Defined Networking, Network Function, Virtualization, Mobile Edge Computing and Fog Computing), Chipset Type (Application-Specific Integrated Circuit (ASIC), Radio Frequency Integrated Circuit (FRIC), Millimeter Wave Technology Chips and Field Programmable Gate Array (FGPA)), Application (Automotive, IT & Telecom, Energy and Utilities, Healthcare, Retail, Industrial Automation, Consumer Electronics and Others) Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Published Date: June, 2020

Base Year Estimate: 2019

Report ID: D-IT-5GM-15


Number of Pages: 278

Domain: IT & Telecom

5G Market – Trends Forecast Till 2028

The Global 5G market is anticipated to reach USD 45.8 billion by 2020 growing at a CAGR of 32.8% during the forecasting period, 2020-2028. 5G market is set to empower connected environments with the help of a wide range of use cases and business models to consumers. Furthermore, the availability of faster speed data and low latency presented by 5G would likely to enhance and improve the user experience while using 5G services. Increasing demand for high-speed data connectivity in various applications such as smart home energy management is projected to drive the market for 5G. 5G market holds huge potential in transforming various industries by cutting down the overall cost and improving productivity.

5G Market Size Analysis Report

The Global 5G market is segmented into communication type, network technology, chipset type, application, and geography

The communication type segment is segmented into FWA, eMBB, uRLLC, and eMBB

On the basis of communication type, eMBB segment is expected to dominate the market for 5G market during the forecast period 2020-2028

The services segment is segmented into Professional Services and Managed Services

The network technology segment is sub-segmented into software-defined networking, network function, virtualization, mobile edge computing, and fog computing

The chipset type segment is sub-segmented into an application-specific integrated circuit (ASIC), radio frequency integrated circuit (FRIC), millimeter-wave technology chips, and field-programmable gate array (FGPA)

Application segment is sub-segmented into automotive, IT & telecom, energy and utilities, healthcare, retail, industrial automation, consumer electronics, and others

On the basis of application, the IT & telecom segment is expected to dominate the market for 5G market during the forecast period 2020-2028

Geographically, the global 5G market is sub-segmented into North America, Europe, Asia-Pacific, Middle East and Africa and South America and insights are provided for each region and major countries within the regions.

North and Europe regions are the largest contributors to the 5G market in the forecast period 2020-2028 and the Asia-Pacific region is expected to grow with the highest CAGR during the forecast period 2020-2028.

Key players in the global 5G market are AT & T Inc, Verizon Communications Inc., BT Group plc, China Mobile Ltd., China Telecom Corporation Limited, Bharti Airtel Limited, KT Corporation, Saudi Telecom Company, Vodafone limited, Deutsche Telekom Group, SK Telecom Co., Ltd. among others.

The companies have come up with various promotional activities in from of launch, investment, acquisition, and other, for instance:

  • In 2020, Verizon Communications Inc. planned to launch a 5G wireless service globally. This next-generation wireless service will connect compatible phones using an unproven technology named dynamic spectrum sharing
  • In 2019, AT&T launched 5G for consumers using a low-band 850 MHz spectrum. AT&T’s 5G service released in parts of the following markets: Indianapolis; Pittsburgh; Providence, Rhode Island; Rochester, New York; and San Diego

Hence, tremendous progress has been made over the last decade and yet a lot more to come in recent years.

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Research Methodology

Secondary Research

This research method involved the usage of extensive secondary sources (such as directories and databases)—Hoovers, Avention, annual reports, investor presentation, conferences like Jefferies conference)—to identify and collect information useful for this study of the 5G market. The purpose of secondary research was to identify and collection of extensive, technical, market-oriented, and commercial study the global 5G market. Through secondary research, the market is classified and segmented as per industry trends, developments, regional markets, products, and technological developments.

Primary Research

The primary sources mainly included several industry experts from the core and related industries and suppliers, manufacturers, distributors, alliances, and organizations related to all segments of this industry’s supply chain. In-depth interviews were conducted with various primary respondents—including key industry participants, subject matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts—to obtain and verify critical qualitative and quantitative information as well as to assess future prospects. The following figure depicts the market research methodology used in drafting this report on the 5G market.

Primary Respondent Breakdown is given below:

5G Market Primary Respondent

Market Sizing

Top-down and bottom approaches were used to derive the market estimate and validate the total revenue of the 5G market. This approach has also been used to derive the market for segmentation and sub-segmentation.

Data Validation

Impact analysis has been conducted for deriving the market size. After collecting the in-depth quantitative and qualitative data, we contact primary respondents in order to gain a 98.8% of confidence level on our data.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

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