REDING, 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 and 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.
Download Free Sample Report Now@ https://www.meticulousresearch.com/download-sample-report/cp_id=5327
5G technology is the 5th generation mobile network and is an evolution of the current 4G LTE network. It offers higher multi-Gbps peak data speeds, ultra-low latency, higher reliability, massive network capacity, higher availability, and a unified user experience.
The 5G technology market is driven by the substantial growth in mobile data traffic on 4G networks, the need for ultra-low latency network connections, and growing investments in 5G technology. Additionally, connected factories, automation, and smart city initiatives are expected to provide significant growth opportunities for the 5G technology market. However, the delay in standardization of spectrum allocation may restrain the market growth to some extent.
COVID-19 to 5G technology market
The COVID-19 pandemic has adversely affected the global economy. Nationwide lockdowns and social distancing norms in multiple countries have negatively impacted several industries, including the 5G technology industry. Many 5G technology providers are under intense pressure due to uncertainty about the duration of the lockdown, making it difficult for major market players to predict the recovery of the 5G technology market.
However, as economies are shifting their focus from responding to the pandemic to economic recovery, various growth opportunities are expected to arise among 5G technology market players owing to the rising demand for ultra-low latency network connections and increasing investments in 5G network technologies.
However, some companies are pushing the 5G technology market in the right direction. Local governments are also taking some relief measures to mitigate the negative impact of the COVID-19 pandemic. Therefore, the 5G technology market is expected to return to its original trajectory after 2023.
Talk to our analysts about the impact of COVID-19 on your business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5327
Provides efficient analysis, meticulous research® Analyzed by component (hardware, software, and services), connectivity (enhanced mobile broadband, massive machine-type communications, and ultra-reliable low-latency communications) and geography (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) . The study also evaluates industry competitors and analyzes regional and country-level markets.
component basedThe hardware segment is expected to account for the largest share of the 5G technology market by 2022. The large market share of this segment is attributed to the increasing need to reduce OPEX and CAPEX, the increasingly robust deployment of 5G RAN with multiple small cell and macrocell base stations, and the growing implementation of virtual RAN that is rapidly increasing in network service provision to reduce network complexity. This segment is also expected to register the highest CAGR during the forecast period.
Quick Buy – 5G Technology Market – Global Opportunity Analysis and Industry Forecast (2022-2029), Research Report: https://www.meticulousresearch.com/Checkout/43460317
connectivity basedThe enhanced mobile broadband (eMBB) segment is expected to account for the largest share of the 5G technology market by 2022. The huge market share of this segment is attributed to the increasing penetration of smartphones and the need for high bandwidth in order to provide reliable communication for wireless devices. Additionally, the growing demand for high-speed and low-latency data networks for residential and commercial applications, such as video conferencing and conferencing, and virtual reality (VR) and augmented reality (AR) gaming, is driving this growth area.
based on geographyThe Asia-Pacific region is expected to hold the largest share of the global 5G technology market by 2022. The presence of prominent players in the region offering 5G technology is one of the major factors driving the growth of the segment in this region. Growing adoption of advanced technologies such as IoT and M2M communication, as well as strong government initiatives are also driving the growth in the region.
In addition, the development of infrastructure in the Asia-Pacific region, especially China, South Korea and Japan, as well as the increasing investment in 5G network technology and smart city initiatives by developed and developing countries, has created huge opportunities for the 5G technology market. This region will also witness the highest CAGR during the forecast period.
Some of the key players operating in the 5G technology market are Nokia Corporation (Finland), Cisco Systems. (United States), Huawei Technologies Co., Ltd. (China), Telefonaktiebolaget LM Ericsson (Sweden), Qualcomm Technologies, Inc. (United States), Ciena Corporation (United States), Verizon Communications Inc. (United States), Intel Corporation (United States), Deutsche Telekom Corporation (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 Co., Ltd. ( Japan), Mavenir Systems, Inc. (U.S.), ZTE (China), Comba Communications Systems (China), and Crown Castle (U.S.).
To gain more insight into the market with detailed catalogues and data, click here: https://www.meticulousresearch.com/product/5g-technology-market-5327
Report Scope
5G technology marketin the component
- hardware
- base station
- macrocell
- small cell
- picocell
- Femtocell
- subway unit
- wireless access network
- baseband unit
- distributed unit
- centralized unit
- baseband unit
- transporting network
- future
- return trip
- halfway
- Core Network
- gateway
- Other core networks (AMF, SMF and UPF)
- antenna
- other hardware
- base station
- software
- Serve
5G technology market, connecting
- Enhanced Mobile Broadband (eMBB)
- Massive Machine Type Communication (mMTC)
- Ultra-Reliable Low-Latency Communication (URLLC)
5G technology marketin geography
- North America
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Sweden
- Netherlands
- 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
Download Free Sample Report Now@ https://www.meticulousresearch.com/download-sample-report/cp_id=5327
Related reports
Network Slicing Market by Component, Application (Remote Monitoring, Supply Chain Management, Live Streaming, Network Monitoring), End User (BFSI, Manufacturing, Healthcare, Automotive, Retail, Transportation) and Geography – Global Forecast to 2027
https://www.meticulousresearch.com/product/network-slicing-market-5167
5G Chipset Market by Application (Automotive & Transportation, Smart Factory, Smart City), Chipset Type, Frequency, Processing Node, Deployment Type, Vertical and Geography – Global Forecast to 2027
https://www.meticulousresearch.com/product/5G-chipset-market-5124
About Careful Research®
Meticulous Research® was established in 2010 and merged into Meticulous Market Research Pvt. Limited In 2013, it became a private limited company under the Companies Act 1956. Since its inception, the company has become a leading provider of premium market intelligence in North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Our company name defines our services, strengths and values. Since our inception, we have only focused on researching, analyzing and presenting key market data with great attention to detail. With meticulous primary and secondary research techniques, we have built strong data collection, interpretation and data analysis capabilities, including qualitative and quantitative research, with a team of the best analysts. We design intelligently and value-driven syndicated market research reports, bespoke research, quick turnaround research and consulting solutions that are carefully analysed to address sustainable growth business challenges.
touch:
gentlemen.Kushal bomb
meticulous market research firm
1267 Willis Street, Ste 200 Reading,
California, 96001, United States
USA: +1-646-781-8004
Europe: +44-203-868-8738
Asia Pacific: +91 744-7780008
e-mail- sales@meticulousresearch.com
Visit our website: https://www.meticulousresearch.com/
Connect with us on LinkedIn – https://www.linkedin.com/company/meticulous-research
Content source: https://www.meticulousresearch.com/pressrelease/550/5g-technology-market-2029
