5G Technology Market by Offering (Hardware, Software, and Services), by Connectivity (Enhanced mobile broadband (eMBB), Ultra-reliable low latency communication (URLLC), and Massive machine type communication (mMTC)), by Application (Connected vehicles, Monitoring & tracking, Automation, Smart surveillance, VR & AR, Enhanced video services, and Others, by End User (Manufacturing, Automotive, Energy & Utilities, Transportation & Logistics, Healthcare, Government, Media & Entertainment, and Others) - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

5G Technology Market Overview:

The global 5G Technology Market size valued at 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 Dynamics and Trends:

The 5G technology is the future of telecommunication sector, where increased use of digital gadgets and increasing demand of smart-phones are expected to amplify the market growth. Besides, the technological advancements and the infrastructure developments shall fuel-up the global market during the forecast period.

Other factors like big-shot investments in the telecommunication industry, wide application of 5G networks, and surge in the data traffic, are expected to enhance the market growth during the forecast period. However, high-cost deployment of 5G networks may hamper the 5G technology market growth.

Moreover, growing smart cities, increased use of IoT and cloud-based solutions are expected to create ample of opportunities in the global market.

Market Segmentations and Scope of the Study:

The global 5G technology market report 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.

Geographical Analysis:

North America is expected to dominate the global 5G technology market share throughout the fore-cast period, owing to higher adoption of 5G technology and the presence of advanced infrastructures. The global 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, of-which 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 5G technology market growth.

Competitive Landscape:

The 5G technology industry 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.

Key Benefits

• The 5G technology market report provides the quantitative analysis of the current market and estimations through 2020-2030, that assists in identifying the prevailing market opportunities to capitalize on.

• The study comprises a deep dive analysis of the 5G technology market including the current and future trends for depicting the prevalent investment pockets in the market.

• The report provides detailed information related to key drivers, restraints, opportunities and their impact on the global market.

• The report incorporates a competitive analysis of the market players along with their market share in the global market.

• The study elaborates SWOT analysis and Porters Five Forces model for the market.

• Value chain analysis in the market study provides a clear picture of the stakeholders’ roles in the global market.

5G Technology Market Key Segments:

By Offering

• Services

• Hardware

• Software

By Connectivity

• Enhanced Mobile Broadband (eMBB) 

• Ultra-Reliable Low Latency Communication (URLLC)

• Massive Machine Type Communication (mMTC)

By Application

• Connected Vehicles

• Monitoring & Tracking

• Automation

• Smart Surveillance

• VR & AR

• Enhanced Video Services

• Others

By End User

• Manufacturing

• Automotive

• Energy & Utilities

• Transportation & Logistics

• Healthcare

• Government

• Media & Entertainment

• Others

By Geography

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Rest of Europe

• Asia-Pacific

  • China

  • India

  • South Korea

  • Japan

  • Australia

  • Rest of Asia-Pacific

• RoW

  • Latin America

  • Middle East

  • Africa

REPORT SCOPE AND SEGMENTATION:

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