5G is a technology standard that will drive innovation, efficiency, and productivity to a wide range of business and industrial sectors. 5G infrastructure is an ultra-broadband network that is under process to support the extremely high bandwidth and Future Internet on the global level.
The global 5G infrastructure market is estimated to value at nearly US$ 0.8 Bn in 2019, and is expected to register a CAGR of 48.8%. The first five-year cumulative revenue (2019–2023) is projected to be approximately US$ 15 Bn, which is expected to increase significantly over the latter part of the five-year forecast period.
Growing number of smart cities/smart homes in developed countries is a major factor expected to drive growth of the global 5G infrastructure market. Smart homes and home automation solutions enable controlling, monitoring, and automating functions in the home. Increasing adoption of technologically advanced devices in order to automate a house or city, coupled with requirement of high speed Internet are among some of the major factors expected to drive growth of the target market in the years to come.
Digitalization helps federal and state governments to fulfill objectives with significantly increased productivity and efficiency. Various agencies integrate cutting-edge technologies such as cloud, Artificial Intelligence, Big Data, and automation along with modern management practices, which is expected to boost demand for 5G technology resulting in need for infrastructure to support the technology.
Global 5G Infrastructure Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global 5G infrastructure market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global 5G infrastructure market is expected to expand at a CAGR of 48.8% over the forecast period.
Global 5G Infrastructure Market: Segment Snapshot
The market report has been segmented on the basis of product type, application, and region/country. The product type segment includes communication infrastructure, network technology, and chipset. The application segment includes telecom service providers, automotive &transportation, energy & utilities, healthcare, industrial automation, agriculture, financial services, consumer electronics, and others. The regions/countries covered in the analysis includes North America, Europe, China, Japan, Middle East & Africa, India, South America, and Rest of the World.
By Product Type: The network technology segment accounted for highest revenue share contribution as compared to other product type segments, and is expected to register highest CAGR of over 44% over the forecast period
By Application: The telecom service providers segment is projected to account for highest revenue share as compared to other application segments, and register highest CAGR of over 43% over the forecast period
By Region: The market in Rest of the World is expected to register highest CAGR of over 50% over the forecast period
Global 5G Infrastructure Market: Competitive Analysis
The research report on the global 5G infrastructure market include profiles of some of major companies such as Intel Corporation, Telefonaktiebolaget LM Ericsson, ABB Ltd., Samsung Electronics Co. Ltd., Amazon.com Inc. (Amazon Robotics LLC.), Honda Motor Co., Inc., Yaskawa Electric Corporation, OMRON Corporation (Adept Technology, Inc.), Lely Holding S.à r.l., NORTHROP GRUMMAN CORPORATION, Asustek Computer Inc., Nokia Corporation, and Google Inc.