5G Module Market Predicted to Garner $468,271.9 Million by 2028, Growing at a Healthy CAGR of 70.8%

According to Research Dive's newly published report, the global 5G module market is predicted to grow at a stable CAGR of 70.8%, thereby garnering a revenue of $468,271.9 million by 2028.

The global 5G module market is expected to grow tremendously by 2028, primarily due to the technological advancements in 5G sector worldwide. The Asia-Pacific region is expected to grow significantly in the 2021-2028 timeframe.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐧𝐨𝐰 @ https://www.researchdive.com/download-sample/8568

𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

𝐃𝐫𝐢𝐯𝐞𝐫𝐬: In the last few years, there have been numerous technological advancements related to 5G services which are expected to be the primary growth driver of the 5G module market in the forecast period. Along with this, integration of Internet of Things (IoT) with 5G services is predicted to push the market forward.

𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬: Increasing penetration of smartphones, tablets, and other electronic equipment is predicted to offer numerous growth and investment opportunities to the market in the forecast period. Moreover, the growing adoption of IoT by various industries is anticipated to help the market grow substantially in the analysis period.

𝐑𝐞𝐬𝐭𝐫𝐚𝐢𝐧𝐭𝐬: High investment cost, however, might prove to be a hindrance in the growth trajectory of the 5G module market.

𝐈𝐦𝐩𝐚𝐜𝐭 𝐨𝐟 𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐨𝐧 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

The coronavirus pandemic negatively impacted numerous manufacturing and service industries and caused disruptions in global supply chains. The 5G module market, too, was affected greatly due to the pandemic. The lockdowns and travel restrictions slowed down the speed of launch of 5G services across the world. Moreover, governments, too, were focused on curbing the pandemic which reduced the rate of 5G penetration. These factors reduced the growth rate of the market.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

The report has divided the 5G module market into certain segments based on application, end-user, and region.

By application, the internet of vehicles sub-segment is predicted to be the most lucrative and grow at a CAGR of 71.8% by 2028. Increasing demand for connected vehicles in the developed and the developing countries is predicted to boost the growth of this sub-segment.

By end-user, transportation and logistics sub-segment is predicted to be the fastest growing in the forecast timeframe and grow at a CAGR of 72.2% by 2028. Use of high-speed 5G connectivity for comprehensive electronic traffic signaling systems for optimized traffic flow management is predicted to augment the growth rate of this sub-segment in the analysis timeframe.

By region, the Asia-Pacific 5G module market is projected to become the most profitable sub-segment and grow at a CAGR of 72.1% by 2028. The presence of the key network providers in this region is predicted to be the main growth driver of the market in the forecast period.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 @ https://www.researchdive.com/request-for-customization/8568

𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

Some prominent market players of the 5G module market are Amazon, Huawei, Sierra Wireless, Apple, Google, Telit, AT&T, Samsung, Quectel, and Vodafone, among others. These companies are coming up with various innovations using different business strategies like acquisitions, mergers, and collaborations to gain a prominent position in the market.

Finally, this report published by Research Dive also summarizes many crucial aspects of the global market including the latest strategic developments, SWOT analysis, financial performance of the key players, and product portfolio.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

𝐌𝐫. 𝐀𝐛𝐡𝐢𝐬𝐡𝐞𝐤 𝐏𝐚𝐥𝐢𝐰𝐚𝐥

𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐃𝐢𝐯𝐞

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𝐓𝐨𝐥𝐥 𝐅𝐫𝐞𝐞: 𝟏-𝟖𝟖𝟖-𝟗𝟔𝟏-𝟒𝟒𝟓𝟒

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