5G Technology Market Projected to Reach US$ 608.3 Mn by 2028
The market study suggests that the global market size of 5G Technology is projected to reach US$ 608.3 Mn by the end of 2029 with a CAGR of 82.4% over the stipulated timeframe 2019-2029.
The COVID-19 pandemic has been posing measurable impact on the global economy and, in turn, on the 5G Technology market. Quarantines, traveling constraints, and social distancing measures on a broad-scale drive a steep decline in business and consumer spending until the end of Q2. This research work intends to offer market players with a viewpoint on the changing scenario and implications for the market players.
The key regions and countries assessed in the 5G technology market report include North America (the U.S. & Canada), Latin America (Brazil, Mexico & the rest of Latin America), Europe (Germany, U.K., Italy, France, Russia, Spain, BENELUX, and the Rest of Europe), South Asia (India, Thailand, Indonesia, Malaysia, Rest of South Asia), East Asia (Japan, China, South Korea), Oceania (Australia, New Zealand), and Middle East & Africa (GCC Countries, North Africa, Turkey, South Africa & the rest of MEA). This report evaluates the present scenario and the growth prospects of the 5G technology market across various regions globally for the period 2018 –2028. We have considered 2018 as the base year, and provided data for the remaining 12 months.
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In enterprise application, the substantial adoption of advanced technologies, such as the internet of things and cloud solutions, is expected to boost the adoption of 5G technology by transforming the focus from consumer-centric cellular coverage to more machine-centric communications. Moreover, in the beginning of 2018, 5G technology has launched in the specific regions of GCC countries, and large-scale commercial roll outs are expected in commercial areas by 2020.
It has been observed that, in the European region, countries such as Germany, France, and the UK are leading the research that is being conducted for the commercialization of 5G technology. Enterprises such as Deutsche Telekom, Vodafone, and Ericsson are testing various frequency spectrums and advanced technologies to deploy 5G technology efficiently. Moreover, these enterprises have launched customer trails in several geographical areas which will form the base for 5G technology.
In June 2017, Belgium BASE signed a partnership agreement with ZTE Corporation, a telecom equipment provider based in China. The main objective of this partnership is to conduct research on LTE advanced, Internet of things, and 5G technology.
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What does the 5G Technology market research holds for the readers?
· One by one company profile of key vendors.
· Influence of modern technologies, such as big data & analytics, artificial intelligence, and social media platforms on the global 5G Technology market.
· Evaluation of supply-demand ratio in every end use industry.
· Regional analysis on the basis of market share, growth outlook, and key countries.
· Positive and negative aspects associated with the consumption of 5G Technology.
The 5G Technology market research clears away the following queries:
1. What is the present and future outlook of the global 5G Technology market on the basis of region?
2. What tactics are the 5G Technology market vendors implementing to give tough competition to their business counterparts?
3. What are the macro- and microeconomic factors affecting the global 5G Technology market?
4. Which end use segment is spectated to lead by the end of 2029?
5. Why region has the highest consumption of 5G Technology?
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