5G New Radio Non-Standalone Architecture Market - Sales Revenue to Significantly Increase in the Next Few Years
5G or fifth generation is a technology standard for cellular networks. While 5G technology is still at the nascent stage in most parts of the world, it’s demand has been growing massively. 5G new radio (NR) technology refers to a new radio access technology (RAT), which is developed by the 3rd generation partnership project (3GPP). The NR technology is capable of supporting frequency bands up to the range of 52.6 GHz. They allow the development of large system bandwidths, which are required to improve broadband data rates, which are beyond what long-term evolution (LTE) can offer. The non-standalone 5G new radio technology majorly focuses on enhanced mobile broadband (eMBB). The eMBB enables the 5G supported mobile devices to use mm-wave frequencies for better and enhanced data capacity, while for voice communication, they utilize the already existing 4th generation technology infrastructure. The 5G new radio non-standalone technology focuses mainly on enhanced mobile broadband to provide reliable connectivity with higher data-bandwidth. 5G new radio non-standalone technology is being widely provided by service providers who aim to deliver high-speed connectivity to their customers. The providers find non-standalone modes more sensible as it enable them to leverage the existing network infrastructure and assets in comparison to standalone (SA) technology, which requires massive investments. These factors are facilitating the growth of 5G new radio non-standalone architecture markets across the globe.
Growing demand for the high-speed, reliable network, rise in mobile phone users and increasing investments are the major factors driving the market growth
There has been an exponential rise in the demand for a high-speed connection, which is reliable, efficient, and has low latency. Growing customer demand for such kind of network has enabled the prevailing market players to introduce 5G new radio non-standalone technology on existing LTE infrastructures. Owing to the benefits offered by 5G technology new radio non-standalone technologies, it is widely adopted amongst a big section of the population. Further, with growing mobile phone users, the customer base for potential 5G buyers has majorly increased owing to the growing desire for such high-speed networks. These networks will enable firms, organizations, and individuals to grow their businesses and work exponentially. Mobile phone manufacturers are also now more focused on developing smartphones, which are 5G enabled and support the network. The growing purchase of 5G enabled smartphones has allowed the growth of 5G new radio non-standalone architecture market. Also, growing investments by various public and private firms and other government organizations toward the development of telecom infrastructure has facilitated market growth. It has allowed the 5G technology to maximize its reach by increasing the technology coverage to rural and remote places. All these benefits have increased the customer base for 5G technology and has facilitated market growth.
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Threat from 5G standalone technologies, fewer devices supporting 5G, and lack of proper infrastructure in the prevailing market are hampering the market growth
5G standalone technologies pose a great threat to the new radio non-standalone market as it decreases the customer base. Most of the investments in these industries are also diverted toward the development of standalone technologies for any new of future infrastructural development. Further, the present market has extremely scarce manufacturers of 5G supported mobile phone manufacturers, which reduces the possible customer pool. Also, prevailing infrastructural facilities are outdated, incomplete, depleted, and have much poor connectivity in rural and remote parts of some regions.
5G network utilization by multiple modern-day technologies to create lucrative market opportunities for growth
5G network is expected to bring revolution in modern-day technologies and other services such as artificial intelligence (AI), internet of things (IoT), video-on-demand services, gaming industry, smartphone applications, and other computer-based technologies. These services are rigorously looking for better network facilities which can help in enhancing their indigenous operations and facilitate individual market growth. Growing adoption by these sectors for 5G new radio non-standalone network will create massive opportunities for market growth. The 5G technology will be able to capture most of the users of these technologies and services as well, which will require minimal expenditure and will provide maximum customer base growth for free. Further, usage of 5G networks in the gaming industry for augmented reality (AR) and virtual reality (VR) applications will propel the market growth by creating lucrative opportunities.
Global 5G New Radio Non-Standalone Architecture Market, by Type:
The short-range segment will be most lucrative till 2027
The short-range segment will have a dominating share in the global market, and it is expected to register a significant revenue during the forecast timeframe. 5G network technology usually operates in millimeter wave that ranges from 24 GHz to 100 GHz. This enables the network to transfer huge amounts of data at extremely fast speed in comparison to the 4th generation technology. The segment’s dominance is due to the fact that the 5G technology is at the nascent stage, and the current infrastructure and other capabilities only enable it to provide short-range frequencies. Also, the demand for fast network connections with low latency and high reliability has increased demand for the short-range segment.
Global 5G New Radio Non-Standalone Architecture Market, by Application:
Manufacturing sector to register maximum growth
The manufacturing sector is anticipated to register maximum growth in the 5G new radio non-standalone architecture market during the forecast period. The 5G technology’s low latency and higher bandwidth have enabled manufacturers to reorganize factory setups and floor layout, which has improved production standards. Further, increased automation has led to the existence of smart factories that are extensively using various technologies like the internet of things (IoT) that has facilitated faster production owing to 5G network speed. Also, 5G will allow manufacturers to collect the data as well as analyze real-time data related to machines and devices being used. Due to these benefits being offered by 5G technology, the manufacturing segment is experiencing major growth in production. These factors are leading to widespread adoption of 5G new radio non-standalone technology by the manufacturing segment.
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Global 5G New Radio Non-Standalone Architecture Market, by Region:
North America region to hold the largest market share
North America region is expected to hold the largest share in the 5G new radio non-standalone architecture market during the forecast timeframe. Robust telecom and technological infrastructure, increased research and development activities, early adopters of 5G, growing investments in 5G technology, and wide usage & applications in multiple industries are driving the market growth. Further, the growing adoption of the 5G network by the gaming industry and government sector is boosting the market growth.
Asia-Pacific region to grow exponentially
Asia-Pacific region is anticipated to grow exponentially in the 5G new radio non-standalone architecture market during the forecast period. Growing demand for low latent and high-speed networks, rising automation, major investments by market leaders for increasing reach to remote places, and massive industrialization are the major growth factors. Further, the massive adoption of smartphones and increasing the customer base of the same is facilitating the growth of 5G new radio non-standalone architecture market in the Asia-Pacific region.
Some of the significant global 5G new radio non-standalone architecture market players include Telefonaktiebolaget LM Ericsson, Nokia, Sprint.com, Verizon Trademark Services, LLC, Telefónica S.A., AT&T, Vodafone Group, Telstra, Huawei Technologies Co., Ltd., and BT.
Market players prefer inorganic growth strategies to expand into local markets.
Global 5G new radio non-standalone architecture market players are emphasizing highly on merger & acquisition and advanced product development. These are the common strategies followed by established organizations. To emphasize more on the competitor analysis of market players, Porter’s five forces model is explained in the report.
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