Press release
5G Technologies Market: Assessing Demand, Trends, Share, and Revenue Forecast from 2024 to 2033 || Ericsson, Nokia, Qualcomm Technologies Inc., Intel Corporation, Broadcom
5G Technologies Global Market Report 2024
The Business Research Company presents an extensive market research report on the 5G Technologies Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The 5g technologies market size has grown exponentially in recent years. It will grow from $17.24 billion in 2023 to $28.33 billion in 2024 at a compound annual growth rate (CAGR) of 64.4%. The growth in the historic period can be attributed to increase in data volume generation, increasing adoption of 5g networks, increasing number of internet users, and strong economic growth in emerging markets.
The 5g technologies market size is expected to see exponential growth in the next few years. It will grow to $148.66 billion in 2028 at a compound annual growth rate (CAGR) of 51.3%. The growth in the forecast period can be attributed to government initiatives, increasing smart homes, growth in number of iot devices, and increasing investments. Major trends in the forecast period include focus on the use of machine learning technology, focus on artificial intelligence, launching innovative products, and partnerships and collaborations to improve revenues and product offerings.
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Key Market Players:
Major companies operating in the 5g technologies market report are Ericsson, Nokia, Qualcomm Technologies Inc., Intel Corporation, Broadcom, Huawei Technologies Co. Ltd, Cisco Systems Inc., KT Corp., Marvell technology, Samsung, Aeron Systems, Altizon Systems, FuGenX Technologies Pvt. Ltd, Fuji Electric Systems Co., Ltd., HCL technologies, Harbinger system, Myriota, NTT Communications, Bharti Airtel, Reliance Ind., Sterlite Tech, Mediatek Inc., China Unicom Ltd., IBM Corporation, Xiaomi Inc., Microsoft Corporation, China Telecom Corp. Ltd., BT Group, Vodafone, Spirent Communications, Trackwise Designs, Yettle, Orange, RCS&RDS Digi, Nvidia, Corning, Ciena, Arista Networks, Telus, Rogers, Sierra Wireless, Enghouse Communications and BlackBerry., Telefonica Brasil, Claro, Telecom Argentina, Movistar, Etisalat UAE, 21st Century Technologies Ltd., Dreamlabs Nigeria Ltd., Excelsimo Networks Ltd., Galaxy Backbone Plc, ipNX Nigeria Ltd., Liquid Intelligent Technologies, MainOne, Medallion Communications Inc., MTN Group, Rack Centre Ltd.
Market Drivers:
The 5G technologies market is expected to be supported by rapid growth in smart homes in the forecast period. A smart home is a residence that uses internet-connected devices to enable the remote monitoring and management of appliances and systems. 5G technologies provide both home security and home automation. Increasing smart homes is driving the need for 5G technologies for homes that can be accessed remotely. For instance, according to CITyFiED, a Spain-based project funded by the European Union's Seventh Program, the number of smart homes in Europe is expected to reach 84 million by 2022, with Germany, the UK, and France pushing the market forward. For instance, the smart home penetration rate in the UK is expected to reach 63% by 2025. Therefore, increasing smart homes is expected to act as a driver for the 5G technologies market.
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https://www.thebusinessresearchcompany.com/report/5g-technologies-global-market-report
The 5g technologies 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 End-User: Automotive, Industrial, Consumer Electronics, Healthcare, Telecom, Other End-Users
3) By Core Network Technology: Software-Defined Networking (SDN), Network Functions Virtualization (NFV), Mobile Edge Computing (MEC), Fog Computing (FC)
4) By Chipset Type: ASIC Chips, RFIC Chips, Millimeter Wave Technology Chips, Field-Programmable Gate Array (FPGA)
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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