The introduction of 5G is expected to drive significant new opportunities for smartphone manufacturers, thanks to rising interest among consumers and application developers alike. 5G technology will enable ultra-high speeds, and enable various new applications with the help of internet of things. The growing adoption of connectivity, digital applications, and wearable technology is also expected to drive growth for players in the 5G devices market. Moreover, up gradation of existing supporting infrastructure including modems, towers, and other supporting infrastructure will present major opportunities for new players. The growth of 5G devices market is expected to drive significant opportunities as adoption of 5G technology has received positive signals around the world.
US, Apple, Huawei, and Intel – A Tale of Competition
Recently, US banned Huawei from operations in the US. The Chinese giant known for its advanced 5G equipment is also banned from cooperating with US companies. On the other hand, Apple also acquired the 5G division of Intel. Apple with its big pockets can benefit incredibly from the growth of 5G technology. It can also act as a competitor to Huawei in providing option to European markets. While countries like Germany has sent positive signals in acquiring 5G technology from Huawei, the adoption has not materialised yet. the good news for Huawei is several US companies have applied for a license to work with Huawei. Among major companies that have expressed a desire to work with Huawei, Google is also present. This makes way for a possible adoption of Huawei technology across the US as well. The end to the trade conflicts, the on-going development of 5G technology, and growing demand in various sectors for 5G technology is expected to drive significant opportunities for players in the 5G devices market. sectors like Telecom, Automobile, banking, and technologies like 3D printing, virtual reality are expected to drive growth.
5G Devices Market – Introduction
- 5G technology is the next generation wireless connectivity solution that delivers faster and most secured wireless network to users. 5G technology will change the way users communicate, connect, compute, and control their connected devices, network, and services.
- Smart device manufacturing companies are integrating 5G technology into mobiles, tablets, and other communication devices to increase performance through quality communication services and fast Internet services.
- 5G devices manufacturing companies offer services such as fast document sharing, super secure hotspot, and controlled & secure connectivity to enhance customer experience
- 5G technology is expected to be adopted by the commercial sector to increase the communication speed, better connectivity with employees, and connectivity with centralized system with Internet
- Smartphone manufacturing companies are expected to adopt this advanced technology as next generation communication solution
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Key Drivers of Global 5G Devices Market
- Increase in adoption of mobiles and tablets in residential and commercial sectors and rise in demand for network capacity to access connected devices are projected to fuel the growth of the market. 5G devices manufacturers’ offers technologically advanced communication devices to provide strong network connectivity for commercial and personal application which is expected to increase the demand for 5G devices in the market during forecast period.
- Increase in use of smart devices with advanced connectivity solutions is expected to create opportunities for 5G devices manufacturers as well as 5G network providers.
- The key players are expected to provide more advanced communication and network access solutions in 5G devices to maintain dominance and market position during the forecast period.
Increase in Operational Expenses to Hamper Market Growth
- Rise in usage of advanced technological solutions indirectly increases the operational expenses of enterprises which is expected to hamper the growth of the global 5G devices market. Industries such as pharmaceutical, IT, and retail are adopting 5G devices to increase the quality of operation. Companies are investing in 5G devices and network equipment to provide advanced communication infrastructure which increases their operational expenses.
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North America to Capture Major Share of Global 5G Devices Market
- North America is projected to account for significant share of the global 5G devices market due to the presence of key players in the region. Increase in demand for advanced communication devices to increase the efficiency of employees is anticipated to drive demand for 5G devices in North America.
- The 5G devices market in Asia Pacific and Europe is expected to expand at high CAGR during the forecast period. This is attributed to increase in adoption of smart devices in order to enhance the performance of industrial operations. Moreover, surge in the number of IoT products and cloud solutions which require high connectivity is expected to boost the 5G devices market in the two regions.
Key Players Operating in Global 5G Devices Market:
Samsung Group is a global leader in enterprise information and mobility solutions. The company provides enterprise products and services which help customers in digital businesses. It offers solutions in mobile devices, TV & AV, home appliances, and computing solutions to the commercial and residential sectors. Samsung Group provides 5G enabled smartphones with advanced security system and communication technology.
Keysight Technologies is a leading company that provides electronic measurement & test equipment and supporting software. The company offers solutions for 5G, cloud, connected car, data center infrastructure, energy ecosystem, IoT, network security, and network visibility. It offers products and services to aerospace, automotive, communication, education, and services providers.
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