Technology market

5G technology market worth $241.5 billion by 2029 –

Redding, Calif., Sept. 21, 2022 (GLOBE NEWSWIRE) — According to a new market research report titled, 5G technology market by Component (Hardware, Software and Services), Connectivity (Enhanced Mobile Broadband (eMBB), Massive Machine Type Communication (mMTC), Ultra-Reliable Low-Latency Communication (URLLC)) – Global Forecast to 2029,’ The 5G technology market is expected to reach $241.5 billion by 2029 growing at a CAGR of 42.2% during the forecast period 2022-2029.
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5G technology is the 5th generation of mobile networks, an evolution of current 4G LTE networks. It delivers higher multi-Gbps peak data rates, ultra-low latency, more reliability, massive network capacity, increased uptime, and a uniform user experience.

The 5G technology market is driven by massive growth in mobile data traffic volumes on 4G networks, the need for ultra-low latency network connectivity, and increasing investments in 5G technology. Additionally, connected factory, automation and smart cities initiatives are expected to provide significant growth opportunities for the 5G technology market. However, delays in normalizing spectrum allocation may limit market growth to some extent.

Impact of COVID-19 on 5G technology Market

The COVID-19 pandemic has had a negative impact on the global economy. Nationwide lockdowns and social distancing norms in several countries have had negative effects on several sectors, including the 5G technology sector. Many 5G technology providers were under immense pressure due to uncertainty over the duration of shutdowns, which made it difficult for major market players to anticipate the recovery of the 5G technology market.

However, economies are shifting their focus from pandemic response towards economic recovery, and hence, various growth opportunities are expected to emerge for the 5G technology market players owing to the growing demand for ultra-low latency network connectivity and growing investments in 5G. Network technology.

However, several companies are moving the 5G technology market in the right direction. Local governments are also undertaking several relief measures to mitigate the negative impacts of the COVID-19 pandemic. As a result, the 5G technology market is expected to return to its original trajectory after 2023.

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To provide effective analysis, Meticulous Research® has segmented this market by component (hardware, software, and services), connectivity (enhanced mobile broadband, massive machine-type communication, and ultra-reliable low-latency communication), and geography (North America, Europe, Asia-Pacific, Latin America , and Middle East and Africa). The study also assesses industry competitors and analyzes regional and national markets.

Component-based, in 2022, the hardware segment is expected to account for the largest share of the 5G technology market. The large market share of this segment is attributed to the growing need to reduce OPEX and CAPEX, the robust and growing deployment of 5G RAN with multiple small cells and macrocell base stations, and the increasing implementation of virtual RAN, which is growing rapidly among network services. providers to reduce network complexity. This segment is also expected to register the highest CAGR during the forecast period.

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Based on connectivity, in 2022, the enhanced mobile broadband (eMBB) segment is expected to account for the largest share of the 5G technology market. The large market share of this segment is attributed to the growing penetration of smartphones and the need for high bandwidth to provide reliable communication to wireless devices. Additionally, the growing demand for high-speed, low-latency data networks for residential and commercial applications, such as video conferencing and meetings, and virtual reality (VR) and augmented reality (AR) gaming, reinforce this growth segment.

Based on geography, in 2022, the Asia-Pacific region is expected to account for the largest share of the global 5G technology market. The presence of prominent players offering 5G technology in the region is one of the major drivers for the growth of this regional segment. Rising adoption of advanced technologies such as IoT and M2M communication and strong government initiatives are also driving the growth of this region.

Additionally, the growth of infrastructure in the APAC region, particularly in China, South Korea and Japan, and the increasing investment in 5G network technology and smart city initiatives in both developed and developing countries are creating huge opportunities for the 5G technology market. This region is also expected to register the highest CAGR during the forecast period.

Some of the major players operating in the 5G technology market are Nokia Corporation (Finland), Cisco Systems, Inc. (USA), Huawei Technologies Co., Ltd. (China), Telefonaktiebolaget LM Ericsson (Sweden), Qualcomm Technologies, Inc. (USA), Ciena Corporation (USA), Verizon Communications Inc. (USA), Intel Corporation (USA), Deutsche Telekom AG (Germany), Samsung Electronics Co., Ltd. (South Korea), Extreme Networks (US), DISH Network Corporation (US), NEC Corporation (US), Parallel Wireless, Inc. (US), AT&T (US), Fujitsu Limited (Japan), Mavenir Systems, Inc. (USA), ZTE Corporation (China), Comba Telecom Systems Holdings Ltd. (China) and Crown Castle (USA).

For more information on the market with a table of contents and detailed figures, click here: https://www.meticulousresearch.com/product/5g-technology-market-5327

Report scope

5G technology Marketper component

  • Material
    • base station
      • macro cell
      • small cell
        • Picocell
        • Femto cell
        • Metro cell
    • Radio access network
      • baseband unit
        • Distributed unit
        • Centralized unit
    • Transport network
      • Front carriage
      • Connection
      • Midterm
    • core network
      • bridge
      • Other core networks (AMF, SMF and UPF)
    • Antennas
    • Other material
  • Software
  • Services

5G technology Market, by Connectivity

  • Enhanced Mobile Broadband (eMBB)
  • Massive machine type communication (mMTC)
  • Ultra-Reliable Low Latency Communication (URLLC)

5G technology Marketby Geography

  • North America
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Sweden
    • Netherlands
    • The rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Singapore
    • South Korea
    • Australia and New Zealand
    • Rest of Asia-Pacific
  • Latin America
  • Middle East and Africa

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