5G Technology Market | Growth with a focus on trends & innovations in the period up to 2030

5G technology market

5G technology market

High frequency prices and the threat of cyber attacks may hamper the growth of the market.

PORTLAND, PORTLAND, OR, UNITED STATES, Nov. 10, 2022 /EINPresswire.com/ — An increase in the number of IoT devices, the adoption of edge computing, an increasing demand for content streaming services, and an increasing demand for Low latency connectivity in industrial automation is driving the growth of the global 5G technology market. The EMBB segment accounted for more than three quarters of the total market share in 2020. On the other hand, the region would remain lucrative throughout Asia-Pacific through 2020-2026.

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On the other hand, the challenges of deploying small cells and implementing fiber backhaul hampers growth to some extent. However, an increase in investments in smart cities and opportunities in autonomous vehicles is expected to create numerous opportunities for the major players in the industry.

According to the report, the global 5G technology market was valued at US$5.53 billion in 2020 and is expected to reach US$667.79 billion by 2026, growing at a CAGR of 122.3% from 2020-2026 .

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Covid19 outbreak:

• The Covid-19 pandemic had a positive impact on the growth of the 5G technology market as the demand for fast internet networks suddenly increased and the culture of working from home was introduced.

• However, the ongoing lockdown and many uncertainties around the world had a negative impact on the market and reduced the number of new investments in the industry.

Based on supply, the hardware segment accounted for more than half of the total market revenue in 2020 and is expected to maintain its top status through 2026. At the same time, the services segment would see the fastest CAGR of 133.1% over the period 2020-2026.

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Based on connectivity, the EMBB segment contributed more than three quarters of the total market share in 2020 and is expected to dominate between 2020 and 2026. The MMTC segment, on the other hand, is projected to grow at the fastest CAGR of 145.1% through 2026.

Geographically, the Asia-Pacific region held the largest market share in 2020 and is expected to retain the lion’s share through 2026. The same segment would see the fastest CAGR of 130.7% over the estimated period.

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Major players analyzed in the report include Ericsson, Huawei Technology, T-Mobile, Intel Corporation, Qualcomm Inc., Deutsche Telekom AG, Orange SA, Nokia, Telecom Italia and Telstra. These players have developed various strategies including expansions, mergers and acquisitions, partnerships, joint ventures, collaborations, and others to strengthen their position in the market.

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Related report:

1. 5G Enterprise Market

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