5G Market Analysis by Applications (Healthcare, Automotive, Consumer Electronics, Manufacturing & Utilities, Retail, and Others); by Component (Device-to-Device Communication, Phantom Cells, and Others); and by Offerings (Services, Software, and Hardware)-Global Supply & Demand Analysis & Opportunity Outlook 2022-2031
13 Sep 2022
ICT & Telecom
Impact Analysis on the Growth of Market
Inflation and Looming Recession to Haunt Businesses:
In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022...
The Research Report is Updated with 2021 Base Year, 2022 Estimated year and Forecast till 2031 with Market Insights.
With the dip in global production, the GDP has contracted in 2020 and impacted the market across the world. Upon placing a Sample Request, you will receive an updated report with 2021 as base year, 2022 as estimated year and forecast to 2031. This will have market drivers, recovery rate in the market, insights and competitive analysis.
Global 5G Market Size, Forecast, and Trend Highlights Over 2022 - 2031
The global 5G market is estimated to garner a notable by the end of 2031 by growing at a CAGR of ~48% over the forecast period, i.e., 2022 – 2031. Further, the market generated a significant revenue in the year 2021. The growth of the market can be attributed to the increase in data consumption. For instance, the total number of data created, copied, and consumed across the globe accounted for more than 60 zettabytes in the year 2020.
5G refers to the fifth generation of mobile networks and it is a new global wireless standard after 1G, 2G, 3G, and 4G networks. Moreover, 5G enables a new type of network capable of connecting virtually everyone and everything, including machines, objects, and devices. With the rapid innovation in virtualization, there has been an increase in the number of internet users around the world. As per the World Bank, the percentage of individuals using the internet has been increased to 60 percent in 2020 from 46 percent in 2017
Individuals Using Internet (% of Population), 2017-2020, Worldwide
Global 5G Market: Growth Drivers and Challenges
Reduction in the Energy Consumption – The high-speed of 5G services reduces energy consumption and it is expected to drive the growth of the global 5G market. The global renewable energy consumption has increased to more than 40 EJ worldwide in the year 2021
Increase in the Demand for IOT Devices – Advancement in the form of more IOT device connections is projected to surge the growth of the global 5G market. As per the Mobile Economy Report 2019 published by the GSM Association, the total number of IOT connections worldwide will be approximately 25 Billion
Rise in the Number of Smartphones– The rise in the number of smartphones will increase the number of 5G network subscribers and it is expected to upsurge the growth of the global 5G market. There were more than 3 billion smartphone users across the globe in the year 2020.
Surging Investment by Government– There have been increasing initiatives taken by the government in order to deploy 5G networks across the globe. Therefore, it is anticipated to drive the growth of the global 5G market. As per the Federal Communications Commission, 9 Billion fund has been set up for deploying 5G wireless mobile services in rural America in October 2020
High Cost of the 5G Infrastructure
Lack of Skilled Workers for Operating 5G
Slow Adoption of 5G Services Among the People
The global 5G market is segmented and analyzed for demand and supply by applications into healthcare, automotive, consumer electronics, manufacturing & utilities, retail, and others. Out of these, the manufacturing & utilities segment is anticipated to hold the largest share over the forecast period owing to the growing trend among manufacturing utilities to automate their operations through the Internet of Things, artificial intelligence, and cloud computing. For instance, the sale of industrial robots has been increased by triple growth in the year 2018, representing approximately more than 420, 000 units across the globe.
Global 5G Market Regional Synopsis
Regionally, the global 5G market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in the North America region is projected to hold the largest market share by the end of 2031 on the back of growing high-speed networks among consumer electronic devices, manufacturing units, and others. Moreover, there has been a huge deployment of 5G networks across the region followed by the advancement in the technologies. In the year 2019, the 5G service subscription was nearly 1.0 Million in the United States.
Our in-depth analysis of the global 5G market includes the following segments:
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Key Companies Dominating the Global 5G Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global 5G market that are included in our report are LM Ericsson, Vodafone Group Plc., AT & T Intellectual Property, Verizon, ALE International, NTT DOCOMO, Huawei Technologies Co., Ltd., Telefonica S.A., Bharti Airtel Limited, Orange SA, and others.
Global 5G Market: Latest Developments
July, 2022: LM Ericsson announced the acquisition of Vonage Holdings Corp for supporting the Ericsson strategy in order to grow its mobile network business and expand into enterprise.
July, 2022: Orange SA, announced its agreement with MASMOVIL that will provide significant efficiency gains through rising investments in 5G and FTTH to benefit SPAIN customers.
Key Reasons to Buy Our Report
The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
The report includes detailed company profiles of the major players dominating the market.
We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
FREQUENTLY ASKED QUESTIONS
Increasing internet users, rise in the number of smartphones, reduction in the energy consumption, and increase in the demand for IOT devices
The market is anticipated to attain a CAGR of ~48% over the forecast period, i.e., 2022 – 2031.
High cost of the 5G infrastructure, lack of skilled workers for operating 5g technology, and slow adoption of 5g services among the people
The market in the North America region is projected to hold the largest market share by the end of 2031 and provide more business opportunities in the future.
The major players in the market are LM Ericsson, Vodafone Group Plc., AT & T Intellectual Property, Verizon, ALE International, NTT DOCOMO, Huawei Technologies Co., Ltd., Telefonica S.A., Bharti Airtel Limited, Orange SA, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by applications, offerings, component, and by region.
The manufacturing & utilities segment is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities.
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- LM Ericsson
- Vodafone Group Plc.
- AT & T Intellectual Property
- ALE International
- NTT DOCOMO
- Huawei Technologies Co.Ltd.
- Telefonica S.A.
- Bharti Airtel Limited
- Orange SA