Global 5G Market is Expected to Grow to USD 827.14 Bn in 2028

Thursday 18 June 2020, Amsterdam

5G is the fifth-generation wireless technology for digital cellular networks which offers higher bandwidth and lower latency as compared to the previous generations. Almost all major telecommunication service providers in the developed world have started the deployment of 5G support infrastructure or are in the process of deployment. 5G speeds are expected to range from around 50 Mbit/s to over 2 gigabits at the beginning and is expected to grow to even 100Gbps which is 100x faster than 4G. mmWave had a top speed of 1.8Gbps as of July 2019, which is much faster than 4G's top speed of 23.6Mbps. 5G is also expected to be widely used for private networks apart from mobile operator networks with applications in enterprise networking, industrial IoT, and critical communications. South Korea was the first country to deploy 5G in the first half of 2019.  

North America is expected to account for one third of the 5G market with an estimated revenue of USD 70 million during 2018. Western Europe is another market where the bulk of 5G innovation would take place.  However, APAC, at a CAGR of 82.42% is expected to be the fastest growing market during the forecast period and with an estimated revenue of around USD 320 Billion in 2028, is expected to emerge as the largest market by the end of the forecast period. China is expected to emerge as the largest 5G market within APAC while India is expected to see the fastest growth. Technologies such as Network Slicing, Beamforming, and Cloud Ran would be key to 5G growth. 5G technology is said to be the key for realizing the full potential of IoT. Almost all developed nations would have deployed 5G within the next few years. 5G, however, is also expected to face various issues in the next few years like that of regulations, delay in spectrum allocation, falling margin or telecom companies and deployment and design issues.

The report titled “Global 5G Market Report- Market and Technology Forecast to 2028” is segmented based on region, application, industries, component and connectivity. The regions are segmented as North America, Europe, APAC, Middle East, Latin America and Rest of the World. The country analysis chapter contains a detailed insight into the 5G support infrastructure of top 10 countries.   

The Global 5G market is expected to grow from around USD 210 Million in 2018 to USD 827.14 Billion in 2028 at a CAGR of 77.40%. The manufacturing sector is expected to be the fastest growing sector at a CAGR of 134.54% during the forecast period 2020-2028.

Scope:
The study period of the report titled “Global 5G Market Report- Market and Technology Forecast to 2028” is 2018-2028 and the forecast period is 2020 - 2028. The industries covered in this report include Manufacturing, Automotive, Energy and Utilities, Transport and Logistics, Healthcare, Government, Media and Entertainment and Others.

Reasons to Buy:

• The report will help investment bankers and the financial institutions to understand the overall market trend and the key dynamics that govern this market.
• The report will help manufacturers to understand the key opportunity market and focus their efforts in those specific regions.
• The report will help the top management team to take strategic decisions on opportunity analysis or market entry strategies.
• The infrastructure and component suppliers in the 5G market are expected to benefit from this report, the market forecast section would help them understand the market potential at the component level.
• The key companies from the top ten countries have been discussed in detail in the Country Analysis section.
• The key industries which would be impacted by 5G have been discussed in detail, this is one of the most comprehensive reports which discusses 5G market.