5G Technologies Global Market Report 2024 - By Growth, Size, Share, Demand, Outlook By 2033

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.

Market Overview -
5G technology is the next generation of wireless communications that provides faster download speeds, low latency, and more capacity and connectivity for billions of devices. This uses various spectrum bands, including millimeter-wave (mmWave) radio spectrum, with the ability to carry a very large amount of data over a short distance.

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Accelerating 5G Technologies Market Growth Through The Rise Of Smart Homes
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.

Competitive Landscape -
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.

Increasing Collaborations Shape The Future Of The 5G Technologies Market
The increasing collaborations between 5G technology companies are an emerging trend in the 5G technologies market. This is mainly because these companies are focusing on developing a strong 5G infrastructure and facilitating innovative platforms, by sharing their resources, knowledge, technology, and cost. Such collaborations are also helpful to the companies in case of expiring licenses, lack of technological know-how, and stringent regulatory environment. For example, in January 2022, Vodafone, a UK-based telecommunications company partnered with Ciena, a US-based telecommunications company for 5G solutions. With this partnership, Vi maximizes fiber capacity and network efficiencies for 5G. Further, in October 2022, Ericsson, a US-based 5G technology company partnered with Reliance JioInfocomm Ltd., an India-based telecommunications company to build the first 5G standalone network in India.

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Key Segments -
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)

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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