Market Research Report
Global 5G: Market and Technology Forecast to 2028
|Published by||Market Info Group||Product code||922334|
|Published||Content info||288 Pages
Delivery time: 1-2 business days
|Global 5G: Market and Technology Forecast to 2028|
|Published: January 14, 2020||Content info: 288 Pages||
The Global 5G Market is expected to grow at a CAGR of around 77.40% during the forecast period, the market is expected to grow from USD 8.43 Billion in 2020 to USD 827.14 Billion in 2028. The cumulative market is expected to reach USD 3061 Billion.
The global 5G market would be dominated by three regions - North America, Western Europe and Asia Pacific. The Asia Pacific market is expected to account to more than 35% of the total market. The increase in demand for online content and sports delivery, growth in support infrastructure, rapidly increasing IoT connection, increase in internet penetration and cloud gaming are some of the key drivers which would drive the 5Gmarket. Technologies such as Network Slicing, Beamforming, small cells and Cloud RAN would be key to 5G growth.
The penetration rate of 5G across various industries along with the consumer market is expected to increase rapidly. The manufacturing sector is expected to be the fastest growing market at a CAGR of 134.54% during the forecast period. 5G is expected to have a wide range of applications in Machine to Machine communication in an industrial automation environment due to its very stringent requirements like low latency and high reliability. 5G in energy and utilities is expected to grow at a CAGR of 130.06% during the forecast period. Smart Surveillance is expected to be the fastest growing segment within energy and utilities. Automotive and Transport and Logistics are the other two industries where 5G would have a high penetration rate. 5G in the automotive and Transport and Logistics sector is expected to grow at a CAGR of 120.03% and 118.69% respectively. Media and Entertainment would however dominate the market share and would account for 67% of the market during the forecast period.
Falling margin of telecom companies, infrastructure challenges and health hazards will remain key challenges to the growth of 5G. The growth of 5G adoption in many countries such as Netherlands has been slow due to the delay in spectrum allocation by the government and the concerning authorities. Additional spectrum allocation is crucial to realize the full potential of 5G. Due to its high bandwidth, high frequency and lower wavelength, deployment and design challenges should also be taken into consideration for large scale implementation of 5G.Infrastructure challenges such as deployment and design challenges must be addressed for 5G to reach its full potential. Delay in spectrum allocation, regulations and capital cost would act as restraints to the growth of 5G.
3GPP (Third generation Partnership Project) has defined three use cases for 5G which are eMBB (enhanced Mobile Broadband), URLLC (Ultra-Reliable Low Latency Communications) and mMTC (massive Machine Type Communications). eMBB is expected to provide greater data-bandwidth accompanied by moderate latency on both 5G NR and 4G LTE. The attributes of eMBB use cases are Higher capacity (where broadband access must be available in densely populated areas), Enhanced connectivity (where broadband access must be available everywhere to provide a stable user experience) and Higher user mobility. eMBB is expected to continue to remain the largest segment out of the three during the forecast period growing at a CAGR OF 72.36%. Ultra-reliable low-latency communication severe the requirements on latency and reliability for mission-critical communications, such as remote surgery, autonomous vehicles and the Tactile Internet to name a few. massive Machine Type Communication would support a very large number of devices in a small area, which might only send data sporadically, such as the Internet of Things (IoT) use cases.
The report titled “Global 5G Market Report- Market and Technology Forecast to 2028” is segmented based on region, application, industries, component and connectivity. The regions are segmented as North America, Europe, APAC, Middle East, Latin America and Rest of the World.
The study period of the report titled “Global 5G Market Report- Market and Technology Forecast to 2028” is 2018-2028 and the forecast period is 2020 - 2028.
The report titled “Global 5G Market Report Market and Technology Forecast to 2028” is segmented based on region, application, industries, component and connectivity: