Encouraging Government support through investments and strategic partnerships to create more opportunities for the network operators in the 5G market which is forecasted to grow at a CAGR of 56.39%.
According to a new market research study titled ‘5G Market to 2025 – Global Analysis and Forecasts by Networking Infrastructure, and Industry Vertical’, the global 5G market is anticipated to amount to US$ 2.56 Bn by 2020 and is also estimated to reach US$ 23.95 Bn by 2025. The report highlights the trends prevalent in the global 5G market and the factors driving the market along with those that act as deterrents to its growth.
Governments of various developing economies across the globe have realized the potentials of 5G and the impact this technology can have on the GDP of the country. Also, it is anticipated that due to digitalization of businesses, huge jobs would be created that would in turn have a positive impact on the economy of a particular country. TeleBrasil, which is the Brazilian Telecommunications Association has signed an agreement with China, the US, European Union, Japan and South Korea to develop 5G technology in the country. The Indian government has established a 5G forum with a budget of approximately $76 million dedicated to 5G research and development. Private-sector activity includes a MoU, signed by Nokia and Indian telcos Airtel India and BSNL to develop 5G, which complements Nokia’s placement of an IoT-related 5G lab in Bengaluru. Government and MNO backing coupled with India’s sizeable population will help accelerate return on infrastructure investment.
The Mexican Government is striving to increase the connectivity coverage across the country with its project named Red Compartida. This project involves building a 5G ready network using the LTE technology for rollout in Mexico. Further, countries like Argentina, Chile, and Columbia have also taken initiatives for investment in the 5G technology through partnerships with giant telecommunication players such as Nokia and Huawei Telecommunications. Moving on to the Middle East and African countries, the Saudi Arabian government is strategically focusing on the development of 5G technology in various countries present in this region. The government has laid enhanced focus on the development of 5G technologies to meet the country’s plan for building a prominent economy as per the VISION 2030. The leading Telecom companies such as Ooredoo (Qatar) and Etisalat Group (UAE) are taking various initiative for the development of 5G technology in countries like UAE and Qatar.
The 5G market is segmented on the basis of networking infrastructure and industry vertical; analyzed across five major geographical regions, namely North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America (SAM). Networking infrastructure is further fragmented by Small Cell, macro cell, and others. Whereas the industry vertical is further segmented into smart automotive, healthcare, smart transportation & logistics, consumer electronics, industry automation, building & home automation, and others. This industry is expected to witness a rapid growth and drive the deployments in 5G market. The key players profiled in the report are Huawei Technologies Co. Ltd., Verizon Communications, Inc., Nokia Networks, Telefonica S.A., and Orange S.A. Also, T-Mobile USA, Inc., Cisco Systems, Inc., AT&T, Inc., Qualcomm, Inc., and Ericsson are other key companies in the 5G market.
5g Market, global breakdown, by regions (2020 & 2025)
The report segments the global 5G market as follows:
5G Market – By Networking Infrastructure
5G Market – By Industry Vertical
Smart Transportation & Logistics
Building & Home Automation
5G Market – By Geography
Rest of Europe
Asia Pacific (APAC)
Rest of APAC
Middle East & Africa (MEA)
Rest of MEA
South America (SA)
Rest of SAM
Middle East & Africa (MEA)
South America (SAM)