Press release
5G Technology Market 2020 - Indepth Industry Analysis and future market scenario Base on COVID 19 Impact | Telekom AG, Ericsson, Huawei Technology, Nokia, Orange S.A., Qualcomm Inc., Telecom Italia
The global 5G technology market generated $5.54 billion in 2020, and is expected to generate $667.9 billion by 2026, registering a CAGR of 122.3% from 2020 to 2026.
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Key market players discussed in the report are Deutsche Telekom AG, Huawei Technology, Ericsson, Orange S.A., Nokia, Telecom Italia, Qualcomm Inc., T-Mobile, Telstra, and Intel Corporation. They have adopted various strategies including mergers & acquisitions, collaborations, partnerships, and others to gain stronghold in the industry.
Geographically, the Asia-Pacific region held nearly two-fifths of the market share in terms of revenue in 2020. Moreover, Asia-Pacific region is expected to grow at the highest CAGR of 130.7% from 2020 to 2026. This is due to supportive government initiatives in emerging economies for deploying 5G spectrum along with new entrants preferring to establish their presence in the region. The research also analyzes Europe, Asia-Pacific, and LAMEA regions.
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The end use segment is segmented based on manufacturing, energy & utilities, automotive, healthcare, transportation & logistics, media & entertainment, government, and others. The manufacturing segment would contribute nearly one-fifth of the total share in 2020, and will maintain its lead status during the forecast period, owing to the growth of the industry of refurbished robots. However, the automotive segment is expected to witness the highest CAGR of 130.3% from 2020 to 2026, owing to rise in smart cities and increase in demand for connected cars that utilizes internet of things (IoT).
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The report divides the offering segment into hardware, software, and services. The hardware segment held more than half of the total market share in 2020, and is estimated to maintain its dominant position by 2026. This is attributed to 5G hardware easing up the edge processing and leading to low levels of latency. However, services segment is expected to grow at the highest CAGR of 133.1% from 2020 to 2026, owing to increase in innovation across the globe and adoption of novel technologies in smart cities.
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