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5G Infrastructure Market Provides Detailed Insight by Trends, Challenges, Opportunities, and Competitive Analysis
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Apart from the above-mentioned factor, the ballooning adoption of 5G-enabled devices is also fueling the expansion of the 5G infrastructure market. 5G network has been developed for matching the surge in data storage and catering to the robust connectivity requirements. Moreover, with the growing sales of 5G subscriptions, on account of the increasing use of 5G-enabled devices and several other devices, the demand for 5G infrastructure is rising sharply around the world.
According to the Mobile Economy 2020 published by the Global System for Mobile Communications Association (GSMA), 5G will account for 20% of all connections across the world by 2025. Furthermore, the report estimates that 5G deployment will rise rapidly in Europe, North America, and Asia in the coming years. Depending on network architecture, the 5G infrastructure market is divided into 5G standalone (NR + core) and 5G NR non-standalone (LTE combined) categories. Of these, the 5G standalone (NR + core) category dominated the market in 2020.
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This is attributed to the surge in the demand for 5G-enabled devices including smartphones, various benefits of the 5G standalone architecture like faster provision of novel telecommunication services without causing disruptions to the existing services such as 4G, and changing network requirements. Geographically, North America held the largest share in the 5G infrastructure market in 2020, as per the observations of the market research company, P&S Intelligence. Moreover, the market will register significant growth in the region in the upcoming years.
Hence, the deployment of 5G infrastructure will rise enormously in the coming years, mainly due to the increasing adoption of 5G-enabled devices and rising requirement for faster network speed and low-latency internet across the world.
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