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Unprecedented Growth in 5G Infrastructure Equipment Market || AT&T Inc., Verizon Communications Inc., Corning Incorporated, Fujikura Ltd
5G Infrastructure Equipment Market
The 5G infrastructure equipment market has surged from $18.44 billion in 2023 to an estimated $31.71 billion in 2024, reflecting a remarkable compound annual growth rate (CAGR) of 72.0%. Projections indicate sustained exponential growth, reaching $152.15 billion by 2028 at a notable CAGR of 48.0%.
5G Driving Smart City Revolution
The adoption of 5G for smart city networks is a key driver behind the market's ascent. 5G's features, including high speed, minimal latency, wider bandwidth, increased device connectivity, and extended battery life, are reshaping smart cities. Zero latency facilitates automatic traffic redirection and alerts for self-driving vehicles. Enhanced security, instant emergency response, and personalized healthcare are enhancing urban living standards, propelling the demand for 5G networks.
High-Speed Connectivity Fueling Demand
The rising need for high-speed connectivity is propelling market growth. Swift data transmission rates enable quick communication and data exchange, supporting advanced applications like augmented reality and IoT. OECD reports a 17% growth in data usage per mobile broadband subscription in 2022, driving the demand for high-speed connectivity and emphasizing its role in the 5G infrastructure equipment market.
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Key Players and IoT Innovation
Major players like AT&T, Verizon, Huawei, and Intel are pivotal in advancing technology. 5G telecommunication service providers are poised to benefit from the growing Internet of Things (IoT). Increased demand and affordable devices are driving IoT adoption, leading to substantial investments in 5G technology, spectrum, and infrastructure.
Advancements in Efficiency and Performance
Companies are developing high-performance, energy-efficient solutions, exemplified by the 5G IoT software stack. Radisys Corporation's Connect RAN 5G IoT software stack, catering to diverse IoT use cases, showcases the industry's drive for innovation.
Asia-Pacific Leading the Charge
In 2023, Asia-Pacific led the 5G infrastructure equipment market, with North America following.
Market Segmentation:
The 5G infrastructure equipment market covered in this report is segmented -
1) By Communication Infrastructure: Small Cell, Macro Cell, Radio Access Network (RAN), Distributed Antenna System (DAS)
2) By Network Technology: Software Defined Networking (SDN) and Network Function Virtualization (NFV), Mobile Edge Computing (MEC), Fog Computing (FC)
3) By Application: Energy & Utilities, Automotive, Healthcare, Retail, Other Applications
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5G Infrastructure Equipment Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The 5G Infrastructure Equipment Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on 5G infrastructure equipment market size, 5G infrastructure equipment market drivers and trends, 5G infrastructure equipment market major players, 5G infrastructure equipment market competitors' revenues, 5G infrastructure equipment market positioning, and 5G infrastructure equipment market growth across geographies. The 5G infrastructure equipment market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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