Next Generation Communication technologies can also be referred as advanced communication technologies, as enterprises are manufacturing products which use these advanced technologies to make communication faster, effective and efficient. Owing to the rapid advancement in communication technologies, communication pattern has evolved drastically from traditional telephonic services to more advanced wireless and wired services. With the introduction of internet in the 1990s, communication shifted from telephones to e-mails, and this form of communication was adopted by the people and industries rapidly. This aggressive consumer adoption and increasing demand for more improved communication technologies will upsurge the market for new communication systems.
Global next generation communication market is expected to grow $XX billion by 2020; growing at a CAGR of XX% during the forecast period. Market is driven by the factors such as easier network expansion, situations where normal cabling is difficult and technological advancements such as Internet of Things, E-commerce and others. However, it is restrained by spectrum regulations and high infrastructural and development costs.
The global next generation communication market is segmented on the basis of technology, product and geography. On the basis technology the market is segmented into wireless and wired technology. Wireless technology is further subdivided into technologies like 5G, 4G LTE, Wi-Fi 802.11ac etc. Wired technology is further subdivided into optical fibre and twisted wire communications. Various products which use next generation technologies are Wi-Fi routers, smartphones, and others.
The next generation market is further segmented by various end user industries like automotive, military, healthcare, telecommunication, consumer electronics, security and surveillance and many others.
On the basis of region the market is segmented into seven major regions namely North America, Europe, Asia Pacific, Others and Rest of the World. Among all these regions the market is mainly dominated by North America and Europe owing to higher technological advancement and investments in infrastructure in communication technologies. However the Asia Pacific region is also expected to grow rapidly since the demand for the communication is expected to increase in the forecast period.
With the introduction of new and much faster and efficient communication technologies such as Wi-Fi 802.11ac, Bluetooth 4.2, 4G technologies, Wireless Sensor Network, Laser Communication Network etc. has fuelled the growth of next generation communication market.
Key players in global next generation communication market are AT&T Inc., Huawei Technologies Co. Ltd, Verizon Communication Inc. and others.