August 16, 2022 07:13 ET | Source: Research and Markets Research and Markets
Dublin, Aug. 16, 2022 (GLOBE NEWSWIRE) — The “5G Infrastructure Market by Communication Infrastructure, by Technology Network, by Chipset Type, by Application – Global Opportunity Analysis and Industry Forecast, 2022 – 2030” report has been added to ResearchAndMarkets.com’s offering.
The Global 5G Infrastructure Market size was valued at USD 1179.2 million in 2021 and is expected to reach USD 131.40 billion by 2030, with a growing CAGR of 68.7% from 2022-2030.
5G is a major breakthrough in the telecommunication industry and is expected to revolutionize almost all other sectors as we know them. Demand for mobile data traffic is expected to increase multifold in the coming years. The legacy 4G networks are not able to keep pace with this demand, especially in dense urban areas.
5G wireless technology is designed to deliver higher speeds, greater bandwidth, ultra-low latency, more reliability, massive network capacity and a standard user experience to increased user base. Higher performance and improved efficiency would help to connect virtually everyone and everything together including machines, objects, and devices.
The evolution and adoption of 5G would create numerous opportunities for the business. Similar to the way 4G had shaken up the industry landscape, wherein data packages became more important than voice and SMS packages, 5G would help us to harness the full potential of IoT (Internet of Things), AI (Artificial Intelligence) and AR (Augmented Reality), among many others.
5G assures 10 times more speed than wireless connectivity, which is expected to eliminate latency and create seamless connectivity. It offer latency of 1 millisecond (ms) or lower, which is useful for end use applications that require real-time feedback.
According to Nokia Corporation, by 2024, there will be over a billion 5G subscribers globally. Nowadays, communications service providers (CSPs) are making move to standalone (SA) designs to deliver the full benefits of 5G technology. Increasing investment in the 5G network will build the sustainable infrastructure and long-term success.
Market Dynamics and Trends
The world is getting connected more than ever before. Increasing adoption of smart phone, smart wearable, smart home, and smart cities along with IoT, AI and AR is creating demand for efficient network infrastructure.
The technological advancements along with expanding infrastructures, are expected to accelerate the growth of 5G infrastructure market over the forecast period. Also, increasing demand for no-buffer live video streaming, amplified use of social media sites and other such factors are substantially fueling the growth of 5G infrastructure market.
However, high-cost associated with replacing the legacy infrastructure with 5G infrastructures, along with privacy and security concerns may impede the market growth. On the other hand, upsurge in government initiatives to strengthen the communication infrastructure is expected to create ample of opportunities for the players in the 5G infrastructure market.
North America is witnessing higher implementation of 5G infrastructure and thus expected to hold the highest market share in the global 5G infrastructure market throughout the forecast period. This is attributable to factors such as well-established infrastructures, higher penetration of IoT and AI technologies as well as higher inclination towards the concept of smart homes and smart cities.
It is expected that the emerging economies, specifically the countries in Asia-Pacific region shall witness increasing market size owing to the expansion of telecommunication and IT industry. Also, increased adoption of smart phones, growing consumption of mobile data, and shift towards automation shall augment the growth of 5G infrastructure market over the forecast period in this region.
The highly competitive and vivid 5G infrastructure market, consists of various market players. Some of the major market players include
Global 5G Infrastructure Market – By Communication Infrastructure
Global 5G Infrastructure Market – By Network Technology
Global 5G Infrastructure Market – By Chipset Type
Global 5G Infrastructure Market – By Application
Global 5G Infrastructure Market – By Geography
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