(Wireless-NewsWire.Com, September 05, 2019 ) Market Overview
5G is the fifth-generation cellular network technology. 5G networks are digital cellular networks, in which the service area covered by providers is divided into small geographical areas called cells. Analog signals representing sounds and images are digitized in the phone, converted by an analog to digital converter and transmitted as a stream of bits.5G will provide virtually ubiquitous, ultra-high bandwidth, and low latency "connectivity" not only to individual users but also to connected objects.
The report covers all the major trends and drivers playing a key role in the growth of the 5G Technology market.5G Technology market is segmented by Application and Region.
The global 5G Technology is primarily driven by the rise in the mobile data services by people all around the world. With the increase in the usage of smart mobile phone & tablets across the globe, there is high demand for the 5G enabled phones after the commercialization of the 5G technology will be the major driving for the 5G technology market in the forecast period. Increasing demand for the 5G enabled mobile phone is asking the mobile manufacturing vendors to launch new 5G enabled phones in the market.
The growth in the connected smart devices across the globe due to the rise in the IoT will be the driver for the 5G technology market in the forecast period. The growing adoption and large investment in the smart cities by the various countries all around will be asking for large connected devices like smart meters, smart grid, smart, smart video surveillance, and others.The market expects over 50 billiondevices to be connected to mobilenetworks worldwide by 2020. For instance, the Government of India (GoI) announced the 30 new cities under Smart Cities Mission, taking the total number of proposed smart cities to 90 cities.
The government has announced to develop 100 smart cities in India. The government has planned to invest INR 1.91 trillion (US$ 30 billion) for the 89 cities under the mission. As per the proposed investment, 80% of the funds would be spent on area-based development (ABD) and the remaining 20% of the funds on ICT Solutions.
By Application, the global 5G Technologymarket is segmented intoAutomotive, Energy & Utilities, Retail, Intelligent Buildings & Infrastructures, Industrial Automation, Consumer Electronics, Public Infrastructure, and Others. Intelligent buildings & infrastructure have the dominant position in the 5G Technology market and are expected to retain its dominance in the forecasted period due to the increase in urban population coupled with the rise in the internet penetration in the developing countries like Brazil, China, and India. However, Automotive are also gaining the market due to the increasing demand of the autonomous vehicles with 5G enabled as there is low latency making it safer. It is expected that Intelligent buildings &infrastructuremarket will grow at a CAGR of ~XX% during the forecast period.
By geography, the global 5G Technologymarket is segmented into
The Middle East
and Africa (MEA).
The major players
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