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