5G Market Eyeing Remarkable Growth due to Faster Data Speeds 

Trend of Smart Cities to Positively Impact 5G Market Growth 

North America to Command Largest Share in 5G Market  

Market Analysis  

The global 5G market size will develop at a healthy CAGR between the forecast period 2016- 2022, according to the new Market Research Future (MRFR) analysis. 5G or 5th generation wireless systems, or 5th generation mobile networks, simply put, are a mobile network technology or wireless broadband technology that offers high-speed data & communication services for tablets, mobile devices, and others.  

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Various factors are fuelling the global 5G market share. According to the recent MRFR market estimates, such factors include low latency and faster data speeds, need for high-speed data connectivity for unified IoT applications like smart home energy management, broadband access for public transportation systems like high-speed trains and buses, growth in mobile data traffic, and growing adoption of virtual networking architecture in telecommunications. Additional factors adding market growth include the trend of smart cities, and increasing use in smart applications such as waste management, video surveillance and analytics, smart traffic lights, smart traffic management systems, smart grids, and metering systems, and smart utility management systems.  

On the contrary, chances of cybersecurity threats, and the COVID-19 impact are factors that may limit the global 5G market growth over the forecast period.  

Market Segmentation 

The MRFR report highlights an inclusive segmental analysis of the global 5G Market Size based on components and applications.  

Based on components, the 5G market is segmented into flexible duplex communication, access/backhaul integration, device-to-device communication, and phantom cell. 

 By applications, the global 5G market is segmented into home automation, healthcare, utility, energy, retail, automotive, consumer electronics, and others.  

Regional Analysis 

By region, the global 5G market covers the growth opportunity and recent trends across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, North America will command the largest share in the market over the forecast period. The presence of advanced IT infrastructure, early deployment of 5G services, increasing deployment of 5G network infrastructure in the US, growing investments in the US to build smart homes, rolling out smart city projects, and establishing smart industries, rising data traffic, demand for high bandwidth, and rising adoption of technologies like IoT, virtual reality, augmented reality, and artificial intelligence are adding to the global 5G market growth in the region.  

In Europe, the global 5G market is predicted to have the second-largest share over the forecast period. Technological advances, industrial automation, advances in the IT industry, rising penetration of smartphones, development of 5G in China and South Korea, and increasing government policies & associated regulations are adding to the global 5G market growth in the region.  

In the APAC region, the global 5G market is predicted to have healthy growth over the forecast period. The presence of key market players, growing investments in rolling out 5G network infrastructure in South Korea, Japan, and China, increasing investments to deploy the next-generation infrastructure for manufacturing, healthcare, transportation and logistics, and media and entertainment, growing demand for smartphones to support higher data speeds, the launch of 5G-enabled smartphones, presence of many 5G and communication service providers, and large scale commercialization in China are adding to the global 5G market growth in the region.  

In the Rest of the World, the global 5G market is predicted to have sound growth over the forecast period. Demand for driverless cars, demand for artificial intelligence, IoT, and robotic technology, and favorable government initiatives are adding to the 5G market growth in this region.  

Key Players 

Eminent players profiled in the 5G market report include Bharti Airtel Limited (India), Vodafone Group PLC (UK), NTT DOCOMO, Inc. (Japan), Huawei Technologies Co. Ltd. (China), China Mobile Ltd. (China), Alcatel-Lucent (France), LM Ericsson (Sweden), AT&T Inc. (U.S.), and Verizon Wireless (U.S.), among others.  

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