5G Technology Market Research, 2030
The global 5G technology market size is projected to grow from USD 90.9 billion in 2021 to USD 1799.8 billion by 2030, at a compound annual growth rate (CAGR) of 40.2%. The growth of the market is being driven by the increasing demand for high-speed data connectivity, the rising proliferation of connected devices, and the rapid development of new 5G-enabled applications.
5G is the fifth generation of cellular network technology, and it is designed to provide significantly faster speeds, lower latency, and more reliable connections than previous generations. 5G is expected to revolutionize the way we live and work, enabling new applications such as augmented reality (AR), virtual reality (VR), and self-driving cars.
Get Sample PDF Pages now with Some Benefits!!
Key Companies in the 5G Technology Market
The key players in the 5G technology market include:
- LG Electronics
These companies are investing heavily in research and development, and they are also collaborating with each other to accelerate the development and deployment of 5G networks.
The 5G technology market can be segmented by component, application, and region.
By component, the market can be segmented into:
- Hardware (radio access network (RAN), core network, and mobile devices)
- Software (operating systems, middleware, and applications)
- Services (deployment and maintenance, and consulting)
By application, the market can be segmented into:
- Enhanced mobile broadband (eMBB)
- Ultra-reliable low latency communications (URLLC)
- Massive machine type communications (mMTC)
By region, the market can be segmented into:
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
Top Impacting Factors
The following are the top impacting factors of the 5G technology market:
- Increasing demand for high-speed data connectivity
- Rising proliferation of connected devices
- Rapid development of new 5G-enabled applications
- Government initiatives to promote the deployment of 5G networks
- Growing investment in research and development by 5G technology companies
The key strategies adopted by the players in the 5G technology market include:
- Collaboration with other players to accelerate the development and deployment of 5G networks
- Investment in research and development to stay ahead of the competition
- Focus on developing innovative 5G-enabled applications
- Expansion into new markets
The Asia Pacific region is expected to be the largest market for 5G technology, followed by North America and Europe. This is due to the rapid development of the telecommunications infrastructure in these regions, and the increasing demand for high-speed data connectivity from consumers and businesses.
Industry Latest News
- In July 2023, Ericsson announced that it had signed a deal with Vodafone to deploy 5G networks in 10 European countries.
- In June 2023, Huawei announced that it had signed a deal with China Mobile to deploy 5G networks in 100 cities across China.
- In May 2023, Qualcomm announced that it had launched a new 5G chipset for smartphones.
- In April 2023, the US government announced that it would invest USD 600 million in research and development of 5G technology.
Access Complete Report: https://www.marketresearchfuture.com/reports/5g-technology-market-2988
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country-level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Also, we are launching “Wantstats” the premier statistics portal for market data in comprehensive charts and stats format, providing forecasts, and regional and segment analysis. Stay informed and make data-driven decisions with Wantstats.
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)