iCrowd Newswire - Jun 13, 2020
According to The Insight Partners market research study titled ‘5G Market to 2025 – Global Analysis and Forecasts by Networking Infrastructure, and Industry Vertical’, the global 5G market is anticipated to amount to US$ 2.56 Bn by 2020 and is also estimated to reach US$ 23.95 Bn by 2025. The report highlights the trends prevalent in the global 5G market and the factors driving the market along with those that act as deterrents to its growth.
Encouraging Government support through investments and strategic partnerships to create more opportunities for the network operators in the 5G market which is forecasted to grow at a CAGR of 56.39%.
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The Mexican Government is striving to increase the connectivity coverage across the country with its project named Red Compartida. This project involves building a 5G ready network using the LTE technology for rollout in Mexico. Further, countries like Argentina, Chile, and Columbia have also taken initiatives for investment in the 5G technology through partnerships with giant telecommunication players such as Nokia and Huawei Telecommunications. Moving on to the Middle East and African countries, the Saudi Arabian government is strategically focusing on the development of 5G technology in various countries present in this region. The government has laid enhanced focus on the development of 5G technologies to meet the country’s plan for building a prominent economy as per the VISION 2030. The leading Telecom companies such as Ooredoo (Qatar) and Etisalat Group (UAE) are taking various initiative for the development of 5G technology in countries like UAE and Qatar.
5G MARKET – KEY INDUSTRY DYNAMICS
KEY MARKET DRIVERS
- Need for an energy efficient communications network infrastructure
- Proliferation of IoT and connected devices demanding for a more robust, reliable and lower latency communication network
KEY MARKET RESTRAINTS
- Huge costs incurred in the implementations of Base stations and O&M complexities
- Concerns around spectrum harmonisation for 5G on a global basis
KEY MARKET OPPORTUNITIES
- Encouraging Government support and investments in developing economies worldwide
- Emergence of new enterprise, industrial, and residential use cases in the near future
The global 5G infrastructure market is experiencing an intense growth with regards to the investments, trials being carried out and deployment for future in the current scenario and is anticipated to rise in the coming years. The market for 5G infrastructure consists of some well-established players across the globe, which invest huge amounts in order to deliver the most advanced service to the customers. Also, there are many stakeholders in the 5G ecosystem that are involved in the end-to-end development of 5G technology and ensuring that the best service is made available for the users by the first half of 2020. Government funding for research & development, strategic partnerships between chipset manufacturers, equipment vendors, network operators and Government bodies are anticipated to enable huge surges in the market for 5G over the forecast period.
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Keywords: 5G Market, 5G Market 2020, 5G Market 2027