The 5G technology market is expected to grow at a CAGR of

Dubai, United Arab Emirates, January. Dec. 17, 2023 (GLOBE NEWSWIRE) — Global market demand for 5G technology is growing at a record 48.3% CAGR. The market revenue could be worth USD 19.3 billion by 2023, with a revenue growth of USD 994.8 billion by 2033.

A key aspect driving demand for 5G technology is its ability to deliver new services with ultra-reliable, available, low-latency connectivity, such as remote control of critical infrastructure, cars and medical procedures, which can transform industries.

Over the years, the advancement of digital transformation has greatly helped various industries update their existing businesses, thereby expanding profits. Technological concepts such as Internet of Things (IoT), Artificial Intelligence (AI) are expected to aid the growth of the global 5G technology market in the coming years.

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According to the 2019 Mobile Economy Report by the GSMA Association, the number of global IoT connections is expected to quadruple to 25 billion between 2018 and 2025, and IoT revenue will reach $1.2 trillion. Research shows that more than 700 million people are expected to join mobile services by 2025, with 5G technology accounting for only 20% of the technology mix.

Certain major players see a 5G future in which remote monitoring can ensure access to clean water, reduce food shortages and enhance public safety by providing early warnings of floods, earthquakes and mudslides.

Network slicing is an important tool for service providers to meet various business needs. The technology enables providers to build private virtual networks based on use cases or customer service requirements. For example, the network requirements of a healthcare provider may be very different from those of smart farming.

It improves the security of mission-critical services. When network slices are designated for certain services, they can improve reliability and simplify operations. During the 5G trials of the IMT-2020 (5G) Promotion Group in January 2020, a market player in China conducted 5G NR tests using the 2.6 GHz spectrum. The company’s leadership in test completion, along with the newly acquired findings, could help shape a unified set of global standards that will allow China to successfully complete the second phase of 5G testing.

Vendors are fighting over the implementation of 5G networks, especially in North America. The evolution of 5G technology is expected to drive market vendors to build wireless test equipment that can properly support the technology. The Indian government is also trying to set up a fund for the development of 5G technology, which is expected to drive market growth over the forecast period.

However, small cell installations face onerous regulatory, financial and administrative requirements in many parts of the world, which are expected to delay the rollout of 5G technology. High installation costs of microcellular networks and lack of security in long-distance outdoor power systems are likely to hamper the growth of the 5G technology market.

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Main points:

The United States is expected to hold a considerable share of the global 5G technology market throughout the forecast period. That’s because the 5G plan offers a holistic approach to network technology. It does so by harnessing the capacity to innovate and invest, while developing government policies to support and complement these strengths.

The 5G technology market in Asia Pacific is expected to be led by China and Japan throughout the forecast period. This is due to the continued promotion of major parties to build a 5G+ Gigabit optical fiber network, as well as the improvement of multi-frequency coordination, co-construction and sharing.

The ‘smart city’ application type is expected to gain significant revenue throughout the forecast period owing to the important role of 5G technology in assisting governments and public organizations to build smart cities.

Because it increases spectral efficiency by reducing signal loss and radio interference, the “5G RAN” technology type is the most innovative category for mission-critical applications and accounts for a large proportion.

Competitive landscape:

The global 5G technology industry is fragmented due to the presence of international and domestic competitors. Many companies hold considerable market shares in their respective industries. Well-known companies often appreciate the benefits of organic developments such as product approvals and C-RAN. These factors are likely to propel the global 5G technology market forward.

key person; main force; important member:

  • Ericsson
  • Deutsche Telekom
  • nokia network
  • AT&T
  • Huawei Technologies Co., Ltd.
  • Orange SA
  • China Mobile Limited
  • Korea Telecom
  • Qualcomm
  • Verizon Communications

Recent developments:

  • In October 2022, HFCL Limited launched the Radio Unit 5G 8T8R, a next-generation RU in a compact form factor that offers digital beamforming, higher energy efficiency and zero-touch provisioning.
  • In January 2021, AT&T launched 5G+ service at a number of prominent Tampa locations and events, including the Channel District and Raymond James Stadium in the US.

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Key Segments of 5G Technology Market

By technology type:

  • 5G wireless network
  • 5G Next Generation Core Network
  • NFVI
  • routing backhaul
  • Optical backhaul
  • other

By application:

  • virtual and augmented reality
  • connected car
  • smart manufacturing
  • Connected Energy
  • Wireless Electronic Health
  • connected drone
  • Smart City
  • other

In vertical:

  • manufacturing
  • car
  • Energy and Utilities
  • Transportation and Logistics
  • public safety
  • health care
  • agriculture
  • other

By region:

  • North America
  • Latin America
  • Asia-Pacific
  • middle east and africa
  • Europe

Table of contents

1.executive Summary

1.1. Global Market Outlook

1.2. Demand-side trends

1.3. Supply-side trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations

2. Market overview

2.1. Market Coverage/Classification
2.2. Market Definition/Scope/Restrictions

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explodeWide coverage of re-FMIs technology field:

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