The demand for internet connectivity has been profoundly growing across countries globally over the past decade. The need for high-speed internet connectivity has been driving the telecom industry players to invest toward advancements of the technology. In the current scenario, 4G is the most dominant internet connectivity worldwide; however, the need for higher data transfer speed has led the telecom service providers to invest in 5G. The lumsum investments toward the development and trails in the 5G services over the past few years have driven the 5G market to a greater extent.
Several countries have stepped up to ensure a healthy evolution of 5G technology since it was revealed and its potential benefits were highlighted at a global level. A vast number of telecom industry players globally have invested in 5G technology innovation, research and development, and trails. Some of the leading players in the 5G market include AT&T, Qualcomm, Samsung Corporation, Ericsson, Nokia Networks, Huawei Telecommunications Inc., and ZTE Corporation. They have formed partnerships with various stakeholders around the world to fund research and development of the 5G technology. 5G has been demonstrated to be a technological advancement with the ability to connect a consumer's physical, virtual, and social worlds and eventualy drive the 5G market globally.
Governments in a variety of emerging economies throughout the world have recognised 5G's potential and the influence it can have on a country's GDP. Furthermore, it is expected that the digitalization of enterprises would result in the creation of a large number of jobs, which will have a favorable impact on a country's economy. TeleBrasil, the Brazilian Telecommunications Association, has inked an agreement to develop 5G technology in the country with China, the US, the European Union, Japan, and South Korea. In addition, the Brazilian government has formed a cooperation with Ericsson to develop a 5G and IoT research center. The Mexican government is working on a project, Red Compartida, which aims to improve internet connection across the country. The goal of this project is to develop a 5G-ready network in Mexico utilizing LTE technology. Moreover, countries such as Argentina, Chile, and Columbia have taken steps to invest in 5G technology through agreements with major telecommunications companies such as Nokia and Huawei Telecommunications. Moving on to the Middle East & Africa, the Saudi Arabian government is strategically focusing on the development of 5G technology in the region's diverse countries. The government has increased its focus on the development of 5G technology to achieve the country's Vision 2030 goal of being a leading economy. Leading telecom companies such as Ooredoo (Qatar) and Etisalat Group (UAE) are taking various steps to advance 5G technology in their respective nations. Thus, the above mentioned factors have contributed toward the 5G market growth.
Moreover, the leading telecom players are focusing on developing more improved solutions to compete in the global market and are expanding their operations through partnerships to acquire a large customer base and 5G market share. For instance, in 2018, AT&T signed an agreement with Crown Castle International Corp. for expanding and simplifying their continuing leasing agreement for wireless network infrastructure. This leasing operations and management are modernized for improving the flexibility and efficiency by deploying new technologies and increasing network capacity. This agreement has been driving the 5G market over the years.
North America holds the top rank with a remarkable 5G market share, in terms of 5G R&D, network design/deployment, and presence of key market participants, while APAC is expected to lead the 5G market with the highest CAGR during the forecast period.
Ericsson; Huawei Technologies Co. Ltd.; Verizon Communications, Inc.; Nokia Networks; Telefonica S.A.; T-Mobile USA, Inc.; Cisco Systems, Inc.; AT&T, Inc.; Qualcomm, Inc.; and Orange S.A. are among a few major companies operating in the 5G market.
Report : 5G Market Forecast to 2025 – Global Analysis – by Networking Infrastructure (Small Cell, Macro Cell, and Others) and Industry Vertical (Smart Automotive, Healthcare, Smart Transportation & Logistics, Consumer Electronics, Industry Automation, Building & Home Automation, and Others)
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