Market Research Future Insights
According to MRFR analysis, the global 5G Technology market is expected to register a CAGR of 40.2% from 2022 to 2030 and hold a value of over USD 1799.8 billion by 2030.
5G technology is the fifth generation of mobile networking technology that is designed to provide faster and more reliable wireless connectivity. 5G technology is expected to provide speeds that are up to 100 times faster than current 4G networks, and it is also expected to enable a wide range of new and innovative applications, such as virtual reality, telemedicine, and the Internet of Things. The COVID-19 pandemic has had some impact on the development and adoption of 5G technology, but the overall impact has been relatively limited. The demand for 5G technology has remained relatively stable during the pandemic, as it is seen as a key enabler for a wide range of applications and industries. However, the pandemic has disrupted some supply chains and there have been some delays in the deployment of 5G networks.
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Key Players
Some of the key market players are Samsung, Qualcomm Technologies Inc., Nokia, China Mobile Limited, MediaTek Inc., Cisco Systems Inc., Verizon, NTT DOCOMO Inc., Huawei Technologies Co. Ltd, Telefonaktiebolaget LM Ericsson, AT&T Inc.
Regional Analysis
North America is at the forefront of the global 5G Technology market, comprising more than two-thirds of the total global market share. In addition, the continent is seeing a large push toward developing smart technologies and cities. The usage of smart devices has increased exponentially in recent years for tasks such as banking and paying bills. Solar power grids, automation cars, and other IoT (internet of things)-based devices have seen tremendous growth in North America.
Market Segmentation
The Global 5G Technology market has been segmented into communication infrastructure, services, and network technology.
Based on the communication infrastructure, the market has been segmented into Small Cell, Macro Cell, Radio Access Networks, and Distributed Antenna Systems.
Based on the services, the market has been segmented into Professional Services and Managed Services.
Based on the network technology, the market has been segmented into Software-Defined Networking, Network Function, Virtualization, Mobile Edge Computing, and Fog Computing.
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