5G Technology Market - Growth, Trends and Forecast Upto 2023

5G technology has recently come into focus and different regions are anxious about deploying 5G at the earliest. Wireless industry is currently experimenting 5G technology i.e. fifth generation of wireless network technology.A number of companies, governments and institutes have started to lay the ground for 5G technology and nobody wants to be left behind. 5G which is expected to be faster, less power consuming will complement 4G in coming years.

5G technology market is segmented by technology as Wi-Fi, RAT (radio access technologies), WiMAX (worldwide interoperability for microwave access), HSPA (high speed package access) and GSM (global system for mobile).With 5G, RAT systems will need to be completely redesigned to accommodate a new mobile access paradigm of massive capacity and fast network speeds.

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Such breakthroughs in wireless network will also drive economic and societal growth globally.Geographically, the 5G technology market is segmented as North America, Europe, Asia Pacific, Middle-East and Africa and Latin America.The United States and Japan are expected to be the most potential regionsin the 5G technology market.In the United States, the Federal Communications Commission (FCC) has started the assessment of the allocation of frequencies for 5G. China, Korea are striving to take over the 5G technology market and are experimenting with the technology.

Some of the key features of the 5G technology are expected to be,support for M2M/IoT,Multiple-Input and Multiple-Output(MIMO), millimeter wave, spectrum sharing, application and device-centric network architectures.The standards for 5G are likely to be defined in 2018. 5G is expected towitness an explosion of applications and services companies. Applications such as autonomous driving,distant learning, multi-user gaming and video conferencing, opera livestreaming, augmented reality, telemedicine and many others will inescapably drive the need for higher performance from the network thus boosting the 5G technology market. 5G will push mobile network performance and capability and will provide the foundational infrastructure for building smart cities. The major challenge for 5G technology is enormously wide variation in the requirements. Moreover, the new 5G technology will need to address drawbacks of the previous generation technologies. For instance, 5G cellular systems will overcome the lack of coverage, dropped calls and low performance concerns in the 4G systems.Some of the potential 5G features will get incorporated in LTE-A+,as a result of which clear demarcation between the two will be difficult.

Most of the companies are planning to launch 5G technology in 2020. The major universities and companiesactively involved in the 5G technology market are Alcatel-Lucent S.A., Deutsche Telekom AG, Aalborg University, BMW Group Research and Technology, Aalto University, Orange S.A., Fraunhofer-Gesellschaft, Chalmers University of Technology, Qualcomm Inc., NTT DOCOMO Inc., Ericsson (Telefonaktiebolaget L. M. Ericsson), KTH - Royal Institute of Technology, Huawei Technologies Co. Ltd., National and KapodistrianUniversity ofAthens,Samsung,PUT - Poznan University of Technology, Nokia Siemens Networks, RWTH Aachen University, University of Bremen, Institut Mines-Télécom, University of Oulu, Telecom Italia, University of Kaiserslautern, UPV - UniversitatPolitècnica de València among others. 5G will reshape not only the wireless industry but all other industries around it.

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