The 5G technology return on investment market was valued at $2.0 billion in 2020 and is projected to reach $320.1 billion by 2026, registering a CAGR of 132.8% from 2020 to 2026. 5G technology is the next generation of wireless communication technology. 5G technology networks are anticipated to allow telecom providers to expand consumer services such as video streaming, virtual reality applications; support new industrial uses such as industrial monitoring systems, industrial sensors; support growing number of internet of things (IoT) devices such as smart homes, medical devices; enable the use of advanced technologies such as smart city applications and autonomous vehicles; and perform advance data analytics.
5G technology is estimated to revolutionize various industry verticals offering a wide scope of advancements in respective industries. Enhanced mobile broadband (eMBB), massive machine-type communications (mMTC), and ultrareliable and low latency communications (URLLC) are the multiple wireless connectivity features driving the 5G technology advancements. Moreover, international standardization of 5G technologies is expected to fuel the adoption of industrial automation and connected cars. 5G technology is expected to pave the way toward hyper-connected society and provide socio-economic value addition.
Increase in demand for low latency connectivity in industrial automation, rise in number of IoT devices, surge in content streaming services, and growing adoption of edge computing are some of the prominent factors driving the growth of 5G technology. Besides, emergence of 5G technology represents lucrative economic opportunities through improved access to social services such as education, employment, healthcare, transportation, and energy.
The 5G technology return on investment market study is primarily focuses on four industry verticals viz., automotive, industrial machinery, infrastructure (smart cities), and healthcare & life sciences. Key market players of these industries and leading telecom operators are collaborating for various projects of 5G technology to deploy the required infrastructure.
Some of the major 5G technology investors are KT Corporation, SK Telecom, NTT DOCOMO, INC., KDDI Corporation, China Mobile, Huawei Technologies Co., Ltd., Telefonaktiebolaget LM Ericsson, Nokia Corporation, Telekom Deutschland GmbH, Infineon Technologies AG, AT&T Inc., and Verizon Communications Inc.
KEY MARKET SEGMENTS
BY INDUSTRY VERTICALS
- Industrial Machinery
- Healthcare and Life Sciences