Global 5G Market is projected to reach around USD 120 Billion by 2027

5G MARKET: SUMMARY

The Global 5G Market is projected to reach around USD 120 Billion by 2027 at a CAGR of around 30%.

5G is a fifth generation mobile network which enables new kind of network that is designed to connect virtually together including objects, machines, and devices. 5G wireless technology is meant to deliver higher, ultra-low latency, multi-Gbps, peak data speeds, massive network capacity, more reliability, and increased availability to more users. Higher performance and improved efficiency empower new user experiences and connects new industries. Rising demand for high speed Internet and broad network coverage and growing IoT applications are expected to drive the market during the forecast period. However, delay in standardization of spectrum allocation is projected to hamper the growth of the market.

5G MARKET: DRIVERS & RESTRAINT

Market Driver:

  • Rising Demand for High Speed Internet and Broad Network Coverage

In the current scenario, LTE is currently the fastest mobile technology available, supporting peak data rates of up to 300 Mbps. With high speed, superior reliability and negligible latency, 5G will expand the mobile ecosystem into new realms. This technology uses much higher radio frequency to transfer exponentially more data over the air for faster speed and reduced congestion. Hence the need for high speed Internet in various media & entertainment applications such as AR & VR applications are expected to increase the demand for 5G technology during the growth period. Qualcomm, a leading player in 5G market designed Qualcomm Snapdragon X55 and Snapdragon X60 Modem-RF Systems, are designed to achieve up to 7.5 Gbps in downlink peak data rates.

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Market Restraint:

  • Implementation Challenges

The fifth generation of mobile technologies is expected to connect people, things, data, and applications, transport systems and cities in smart networked communication environments. However, the current regulatory framework for deploying network infrastructure has always been one of the most continuous issues in the 5G industry. There are many implementation challenges are faced by the growth of the 5G industry such as frequency bands, deployment, cost to build, and device support among others. In terms of frequency bands, 4G LTE are operates on below 6GHz frequency bands, but 5G requires frequencies up to 300 GHz. Hence, wireless carriers still need to bid for the higher spectrum bands as they build and roll out their respective 5G networks. In terms of cost, building a network is expensive, and carriers will raise the money to do it by increasing customer revenue. According to Heavy Reading, total global spending on 5G is set to reach USD 88 billion by 2023. These factors will affect the growth of the market during projected years.

5G MARKET: KEY SEGMENTS

  • By Network Services: Enhanced Mobile Broadband (eMBB), Ultra-Reliable and Low Latency Communications (uRLLC), and Massive Machine Type Communications (mMTC)

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5G MARKET: REPORT SCOPE

The report on the 5G market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

Report Features

Specifics

Historical/Estimated/Forecasted Market Size Years

2018–2027

Base Year for Market Calculation

2019

Forecasted Period

2020–2027 (2020 estimated year, forecasted up to 2027)

Measured Units

USD (Million)

Segments Included

Network Services, Chipset IC, Frequency band, and Application

Regional Coverage

North America, Asia-Pacific, Europe, Middle East & Africa, South Africa

KEY COMPANIES COVERED

  • Qualcomm Technologies, Inc. (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)

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5G MARKET: REPORT SEGMENTATION

For the scope of the report, In-depth segmentation is offered by Forencis Research

5G Market, by Network Services

  • Enhanced Mobile Broadband (eMBB)

5G Market, by Chipset IC

  • RFIC

5G Market, by Frequency Band

  • Sub-6 GHz

5G Market, by Applications

  • Telecommunication

5G Market, by Region

  • North America

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Table of Content

1 Introduction

2 Research Design & Scope

3 Executive Summary

4 Market Dynamics

5 Industry Trends — Porters Five Forces Analysis

6 5G MARKET BY NETWORK SERVICES, Market Size, USD Million (2019–2027)

7 5G MARKET BY CHIPSET IC, Market Size, USD Million (2019–2027)

8 5G MARKET BY FREQUENCY BAND, Market Size, USD Million (2019–2027)

9 5G MARKET BY APPLICATION, Market Size, USD Million (2019–2027)

10 Competitive Landscape

11 Company Profiles

12 Appendix

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