- Increasing demand from several end-use industries is one of the main factors driving growth.
- The global 5G infrastructure market is expected to register a CAGR of 95.8% from 2018 to 2025.
- North America is expected to hold its position as the leading region.
5G infrastructure is the key element of the future digital world. The rising need for technological advancements has escalated the need for 5G infrastructure. This new generation of wireless technology will increase speed, reduce latency, and provide a more secure and reliable connection for a wide range of users. It will change the way in which the world communicates.
Trends in Global 5G infrastructure Market:
Increasing demand for mobile data services, growing smart cities, rise in dependency of various industries on machine-to-machine communication in order to increase production and ensure safety, rise in government’s focus on digitalization are some of the key factors driving the growth of the 5G infrastructure market. Various cloud computing services can be delivered without the need of any independent software or hardware, over a 5G network. Nevertheless, the vendors of this market are expected to gain new opportunities from increasing demand from several end-use industries and growth of the Internet of Things technology.
Global 5G infrastructure Market: Market Size
According to a report, by Allied Market Research, the global 5G infrastructure market size was $371.4 million in 2017 and is expected to reach $58.17 billion by 2025, registering a CAGR of 95.8% from 2018 to 2025. According to the report, Asia-Pacific accounted for more than one-third of the total share in 2017 and will maintain its dominant position through 2025, due to huge adoption of smart technologies in the region.
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Global 5G infrastructure Market: Regional Market Assessment
North America is expected to hold its position as the leading region with maximum demand of global 5G infrastructure in 2020. This is because of several factors such as increasing demand of automation from various industries in the country of the U.S., advanced technologies such as Internet of Things (IoT), increase in the number of mobile subscribers, increase in cellular M2M connections, high demand of video on-demand services and a rapid increase in autonomous cars. Due to high rate of adoption of advanced technologies, LAMEA is expected to grow at the highest rate, from 2018 to 2025.
Based on application, the 5G Infrastructure market is segmented into automotive, energy and utilities, healthcare, retail, and others. Self-driving cars will be in reality with the use of 5G wireless networks. 5G network will transform the mobile experience with supercharged wireless network, which can support up to 10 to 20 GBPS of data download speed. It will offer a high definition virtual world on your mobile phone. Smart home concept will use 5G networks for device connectivity and monitoring of applications. 5G will power healthcare industry with smart medical devices, Internet of medical things, smart analytics, and high definition medical imaging technologies. 5G Infrastructure holds immense possibilities for a smart, connected world.
To conclude, it can be stated that, 5G technology will offer a promising innovation revolution by bringing digital intelligence to previous analog technologies.