Market Highlights
According to Market Research Future (MRFR)’s report, the global 5G market is expected to grow substantially over the next couple of years. The growth of the telecommunications industry is poised to drive the expansion of the market in the foreseeable future.
5G is technically the successor of 4G network and offers better speed with lower communication latency. The penetration of 4G network is anticipated to propel the expansion of the 5G market in the forthcoming years. Furthermore, the advent of industry 4.0 is likely to unleash exceptional growth opportunities for the penetration of the 5G network. The rising adoption of IoT, IIoT, virtual reality and augmented reality, automation, etc. is projected to fuel demand for 5G services over the next couple of years.
Key players of the peripheral markets are also investing in the development of their products for supporting the launch of the 5G network. For instance, mobile companies are focusing on the production of 5G handsets. By 2020, 5G services are likely to be launched commercially worldwide. The report indicates that the 5G market is anticipated to remain highly lucrative across the assessment period.
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Segmentation:
By components, the global 5G market has been segmented into phantom cell, device-to-device communication, access/backhaul integration, and flexible duplex communication.
By applications, the 5G market has been segmented into consumer electronics, automotive, retail, energy, utility, healthcare, home automation, and others.
Regional Insights:
The regional study of the global 5G market encompasses Asia Pacific, North America, Europe and the Rest of the World (RoW). North America is the pioneer in the market. It is anticipated to dominate the market over the next few years. The advanced IT infrastructure of the region is likely to support the growth of the 5G market in the foreseeable future. Furthermore, the early deployment of 5G services has earned a competitive edge over the other regional markets. Europe is another potential market for 5G services. The technological advancement of the region is projected to facilitate the expansion of the 5G market over the next few years. Asia Pacific is anticipated to register gradual growth over the assessment period. Industrial automation, advancements in the IT industry, penetration of smartphones, etc. are primarily responsible for generating demand for 5G services across the region. In addition, country=-level markets such as South Korea and China are already working on the development of the 5G market. It is anticipated to accelerate revenue creation in the years to come.
Competitive Dashboard:
Some of the major global players operating in the 5G market have been profiled in this report such as Verizon Wireless (U.S.), LM Ericsson (Sweden), AT&T Inc. (U.S.), Alcatel-Lucent (France), Huawei Technologies Co. Ltd. (China), China Mobile Ltd. (China), NTT DOCOMO, Inc. (Japan), Bharti Airtel Limited (India), and Vodafone Group PLC (UK).
Industry News:
In February 2019, Ericsson, a Swedish multinational networking and telecommunications company, has announced the expansion of the 5G platform.
In February 2019, SK Telecom, a South Korean wireless telecommunications operator, and KT, a pioneer in VR games, are leveraging 5G deployment at the upcoming Mobile World Congress (MWC).
In February 2019, Samsung, a South Korean multinational conglomerate, has broadcasted ‘Mobile World Live TV,’ which is the official channel of MWC19 Barcelona on 5G.
In February 2019, Japanese e-commerce giant Rakuten has announced its plan on venturing into the telecommunications industry by building a new mobile network. The company aims at commercializing its 5G services by 2020.
In February 2019, Vodafone Group plc, a British multinational telecommunications conglomerate, launched UK's first 5G network for consumers at Manchester airport.
In January 2019, ZTE Corporation, a Chinese multinational telecommunications equipment, and systems company, has committed the launch of its latest “New Axon, New 5G Flagship” phone the MWC.
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5G Market by Components (Phantom Cell, Device-To-Device Communication), By Applications (Consumer Electronics, Automotive, Retail, Energy, Utility, Healthcare) – Forecast 2027
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