According to the report, the global 5G
technology market generated $5.54
billion in 2020 and is estimated to garner $667.9 billion by 2026, growing at a CAGR of 122.3% from
2020 to 2026. The report offers a detailed analysis of the key segments, top
investment pockets, changing dynamics, market size & estimations, and
competitive scenario.
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Increase in demand for low latency connectivity in industrial
automation and surge in demand for content streaming services are the two major
factors that drive the growth of the global 5G technology market. Furthermore,
growth in number of IoT devices and adoption of edge computing supplements the
market growth. On the other hand, small cell deployments challenges and
implementation of fiber backhaul hamper the 5G technology market growth.
However, increase in investments in smart cities and opportunity in autonomous
vehicles provide lucrative opportunities in the 5G technology market forecast.
The hardware cement segment to maintain its leadership status by
2026-
Based on offering, the segment is divided into hardware,
software, and services. The hardware segment accounted for more than half of
the total market share in 2020 and is expected to maintain its dominance by
2026. This is due to 5G hardware facilitates edge processing leading to low
latency levels and it is dominated by small cell infrastructure with a dense,
distributed network of base stations. However, services segment is estimated to
project the fastest CAGR of 133.1% from 2020 to 2026, owing to the spur in innovation
and adoption of cutting-edge technologies in smart cities
The manufacturing segment to maintain its dominance throughout
the forecast period-
Based on end use, the segment is divided into manufacturing,
automotive, energy & utilities, transportation & logistics, healthcare,
government, media & entertainment, and others. The manufacturing segment
held nearly one-fifth of the total market share in 2020 and will maintain its
dominance throughout the forecast period, owing rise in industry of refurbished
robots. However, the automotive segment is estimated to register the highest
CAGR of 130.3% from 2020 to 2026 owing to the increase in smart cities and
surge in demand for connected cars using internet of things (IoT), are majorly
contributing to the growth of the autonomous vehicles market.
The Asia-Pacific region
to grow at the fastest CAGR-
The Asia-Pacific region
accounted for nearly two-fifths of the market in terms of revenue in 2020.
Moreover, this segment is estimated to register the highest CAGR of 130.7% from
2020 to 2026 since Asia-Pacific is
estimated to be the largest region in the 5G technology market in response to
great initiatives by government in key economies toward deployment of 5G
spectrum. Moreover, Asia-Pacific is
origin for many new entrants in multiple markets, which is also expected to
fuel demand for 5G technology in the region.
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Frontrunners of the industry
Leading market players analyzed in the
research include Deutsche Telekom AG, Ericsson, Huawei Technology, Nokia,
Orange S.A., Qualcomm Inc., Telecom Italia, Telstra, T-Mobile, and Intel
Corporation. They have adopted different strategies such as mergers &
acquisitions, partnerships, collaborations, new product launches, and others to
gain a strong position in the global industry.
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5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
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