The Global 5G Technology Market size valued to USD 5.53 billion in 2020 shall witness an elevation of USD 620.72 billion by 2030, with a growing CAGR of 58.6% from 2020-2030. The 5th Generation digital cellular network is the high-tech innovative network technology that promises faster download & upload speeds, smoother streaming of online content, higher-quality voice, & video calls, more reliable mobile connections, greater number of connected IoT devices, as well as expansion of advanced technologies - such as self-driving cars and smart cities. Market Segmentations and Scope of the Study: The global 5G technology market share analysis is based on offering, connectivity, application, end user and geography. Based on connectivity, the market is segmented into Enhanced mobile broadband (eMBB), Ultra-reliable low latency communication (URLLC) and Massive machine type communication (mMTC). Based on offering, the market is branched into Hardware, Software, and Services. Based on application, the market is categorized into Connected vehicles, Monitoring & tracking, Automation, Smart surveillance, VR & AR, Enhanced video services, and Others. Based on end user, the market is divided into Manufacturing, Automotive, Energy & Utilities, Transportation & Logistics, Healthcare, Government, Media & Entertainment, and Others. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW. Request for a free sample- https://www.nextmsc.com/5g-technology-market/requestsample Geographical Analysis North America is expected to dominate the global 5G technology market throughout the forecast period, owing to higher adoption of 5G technology and the presence of advanced infrastructures. The 5G technology market study depicts that 60% of North American consumers are willing to pay extra for 5G coverage. Besides, it is estimated that the 5G technology will contribute $2.2 trillion to the global economy between 2020 and 2030, ofwhich the financial services in North America shall benefit the most. Asia Pacific is expected to show rapid growth over the forecast period; the major contributors being India and China. Furthermore, fast developing infrastructure, increased use of digital devices, increased use of smartphones and the increasing integration with existing devices are expected to fuel-up the growth of 5G technology market. Inquire
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Competitive Landscape The 5G technology market is highly competitive and consists of various major players. Some of the major market players are Nokia Siemens Networks, Deutsche Telekom AG, Telecom Italia, Orange S.A., Huawei Technologies Co. Ltd., Alcatel-Lucent S.A., BMW Group Research and Technology, Qualcomm Inc., Aalto University, KTH - Royal Institute of Technology, National and Kapodistrian University of Athens, Fraunhofer-Gesellschaft, University of Bremen, Ericsson, Chalmers University of Technology, University of Oulu, Samsung, and RWTH Aachen University among others. The past endeavors and futuristic advancements, sum-up to comprehend the overall market growth. The 5G market size is growing vehemently from the past few years. For instance, in November 2019, Siemens and Qualcomm Technologies, Inc. organized a joint proof-of-concept project at the Siemens Automotive Test Center in Nuremberg, Germany. Denoting the first private 5G standalone (SA) network in an actual industrial environment using the 3.7-3.8GHz band. The 5G industrial test devices and 5G test networks that run on foundational 5G technologies were delivered by the Qualcomm Technologies, whereas the industrial end-devices like automated guided vehicles (AGV) were supplied by Siemens. About Us: Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics. We carefully analyse the historical data, augment it by constantly keeping an eye on the latest industry trends and estimate the future events to arrive at accurate market forecasts. For more insights, please visit, https://www.nextmsc.com
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