PUBLISHER: The Business Research Company | PRODUCT CODE: 1429702
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429702
5G technology represents the next wave of wireless communication, offering faster download speeds, low latency, and increased capacity for countless devices. It utilizes spectrum bands, including millimeter-wave (mmWave) radio spectrum, capable of transmitting vast data over short distances.
Key chipset types for 5G include ASIC chips, RFID chips, millimeter wave technology chips, and field-programmable gate arrays (FPGAs). ASICs are microchips tailored for specific applications, such as transmission protocols or handheld computers. Communication infrastructure comprises small cells, macro cells, and a radio access network (RAN). Core network technologies encompass software-defined networking (SDN), network functions virtualization (NFV), mobile edge computing (MEC), fog computing (FC), and distributed antenna systems (DAS). End-users span automotive, industrial, consumer electronics, healthcare, energy, utilities, and other sectors.
The 5G technologies market research report is one of a series of new reports from The Business Research Company that provides 5G technologies market statistics, including 5G technologies industry global market size, regional shares, competitors with a 5G technologies market share, detailed 5G technologies market segments, market trends and opportunities, and any further data you may need to thrive in the 5G technologies industry. This 5G technologies market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The 5g technologies market size has grown exponentially in recent years. It will grow from $17.24 billion in 2023 to $28.33 billion in 2024 at a compound annual growth rate (CAGR) of 64.4%. Historical growth can be attributed to several factors, including the surge in data volume generation, the adoption of 5G networks, a rising number of internet users, and robust economic growth in emerging markets.
The 5g technologies market size is expected to see exponential growth in the next few years. It will grow to $148.66 billion in 2028 at a compound annual growth rate (CAGR) of 51.3%. Anticipated growth is expected due to government initiatives, the expansion of smart homes, an increased number of IoT devices, and rising investments. Key trends in this period involve the utilization of machine learning technology, emphasis on artificial intelligence, introduction of innovative products, and fostering partnerships and collaborations.
The projected growth of the 5G technologies market is anticipated to receive substantial support from the rapid expansion of smart homes in the forecast period. A smart home, characterized by internet-connected devices facilitating remote monitoring and management of appliances and systems, stands as a driving force for the adoption of 5G technologies. The application of 5G in smart homes extends to both home security and automation, meeting the escalating demand for technologies that enable remote access to homes. CITyFiED, a Spain-based project funded by the European Union's Seventh Program, predicts that the number of smart homes in Europe will reach 84 million by 2022, with Germany, the UK, and France spearheading market growth. As an example, the smart home penetration rate in the UK is projected to achieve 63% by 2025. Consequently, the proliferation of smart homes is poised to serve as a key driver for the 5G technologies market.
The growth trajectory of the 5G technologies market in the forecast period is expected to be further propelled by favorable government initiatives in developed countries. Governments worldwide are directing their focus towards the development of 5G infrastructure. Notably, in October 2022, the Prime Minister of India initiated the 5G telephony initiative, promising ultra-high-speed internet on mobile phones and signaling the onset of a transformative era with abundant opportunities. Similarly, in March 2022, the Minister of Industry and Information Technology (MIIT) in China outlined plans to install over two million 5G base stations by the end of 2022. This ambitious initiative aims to expand the application of information and communication technology (ICT) for the convenience of people's lives. The increasing momentum of government initiatives is poised to be a significant contributing factor to the growth of the 5G technologies market.
A burgeoning trend in the 5G technologies market is the increasing prevalence of collaborations between companies operating in the 5G technology space. This trend is primarily driven by a shared commitment to fortify 5G infrastructure and foster innovative platforms through the pooling of resources, knowledge, technology, and cost-sharing. Collaborative efforts prove advantageous, particularly in scenarios involving expiring licenses, a lack of technological know-how, and navigating a stringent regulatory environment. A notable instance is the partnership formed in January 2022 between Vodafone, a UK-based telecommunications company, and Ciena, a US-based telecommunications company, focusing on 5G solutions. This collaboration enables Vi to optimize fiber capacity and enhance network efficiencies for 5G. Similarly, in October 2022, Ericsson, a US-based 5G technology company, joined forces with Reliance JioInfocomm Ltd., an India-based telecommunications company, to establish India's inaugural 5G standalone network.
The regulatory landscape shaping the 5G technologies market is predominantly governed by the European Electronic Communications Code (EECC) within the European Union. In March 2022, the EU implemented regulations aimed at expediting 5G network installations by streamlining the deployment of small cell antennas crucial for the last mile of 5G networks. These regulations define the physical and technical characteristics of small cells, impose strict limits on their size and power, exempt them from planning permits (with retained national oversight), and address their appearance to reduce visibility. Regulations of this nature stand to benefit 5G technology companies, providing momentum to the growth of the 5G technologies market.
In June 2022, Qualcomm, a semiconductor company based in the US, acquired Cellwize Wireless Technologies Pte. Ltd., a telecommunications service provider headquartered in Singapore, for an undisclosed sum. This acquisition aims to bolster Qualcomm Technologies' 5G infrastructure solutions, facilitating the digital transformation of industries, empowering the connected intelligent edge, and bolstering the growth of the cloud economy.
Major companies operating in the 5g technologies market report are Ericsson, Nokia, Qualcomm Technologies Inc., Intel Corporation, Broadcom, Huawei Technologies Co. Ltd., Cisco Systems Inc., KT Corp., Marvell technology, Samsung, Aeron Systems, Altizon Systems, FuGenX Technologies Pvt. Ltd., Fuji Electric Systems Co., Ltd., HCL technologies, Harbinger system, Myriota, NTT Communications, Bharti Airtel, Reliance Ind., Sterlite Tech, Mediatek Inc., China Unicom Ltd., IBM Corporation, Xiaomi Inc., Microsoft Corporation, China Telecom Corp. Ltd., BT Group, Vodafone, Spirent Communications, Trackwise Designs, Yettle, Orange, RCS&RDS Digi, Nvidia, Corning, Ciena, Arista Networks, Telus, Rogers, Sierra Wireless, Enghouse Communications and BlackBerry., Telefonica Brasil, Claro, Telecom Argentina, Movistar, Etisalat UAE, 21st Century Technologies Ltd., Dreamlabs Nigeria Ltd., Excelsimo Networks Ltd., Galaxy Backbone PLC, ipNX Nigeria Ltd., Liquid Intelligent Technologies, MainOne, Medallion Communications Inc., MTN Group, Rack Centre Ltd.
North America was the largest region in the 5G technologies market in 2023. The regions covered in the 5g technologies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the 5g technologies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The 5G technology market includes revenues earned by entities by providing 5G services such as low band 5G, mid-band 5G, and mmWave high band 5G. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
5G Technologies Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on 5g technologies market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for 5g technologies? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The 5g technologies market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.