5G System Integration Market Size will Escalate Rapidly in the Near Future | Global Forecast Report by 2027
Global 5G System Integration Market was valued at USD 5.65 billion in 2019 which is expected to reach USD 660.45 billion by 2027 at a CAGR 22.8%.
5G system integration is the fifth generation of digital network which is iteration of cellular technology that is designed to increase speed and responsiveness of wireless network. 5G integration market offers various services such as infrastructure integration, application integration, and Consulting.
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Increase in demand for high speed bandwidth capacity has allowed overall process cost and improves operational efficiency is the key driving factor which is expected to drive the global 5G system in integration market growth. Furthermore, increase in popularity of network function virtualization (NFV) and Software-defined networking (SDN) is expected to propel the growth of global 5G system integration market growth. Moreover, increase in smart cities and adoption of IoT (Internet of Things) devices across the world will have the positive impact on global 5G system integration market growth.
Market Restraints
However, difficulties in small cell deployments and implementation of fiber backhaul which is expected to hamper the growth of global 5G system integration industry.
Impact of COVID 19 on Market
The COVID 19 pandemic is the major challenging factor for 5G system integration market. Due to increase in confirmed cases of COVID 19 5G spectrum auction is postponed across the globe, which is expected to restrain the 5G system integration market growth.
Market Segmentation
5G System Integration Market is segmented into services such as Application Integration, Infrastructure integration, and Consulting, by vertical such as Retail, Manufacturing, Healthcare, BFSI, Transportation and Logistics, IT & Telecommunication, Media & Entertainment, and Others. Further, 5G System Integration market is segmented into application such as Enhanced Video Services, VR& AR, Smart Surveillance, Connected Vehicles, and Others.
Also, 5G System Integration Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
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Market Taxonomy
By Services
- Application Integration
- Infrastructure integration
- Consulting
By Vertical
- Retail
- Manufacturing
- Healthcare
- BFSI
- Transportation and Logistics
- IT & Telecommunication
- Media & Entertainment
- Others
By Application
- Enhanced Video Services
- VR & AR
- Smart Surveillance
- Connected Vehicles
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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